Common use of Method of Exercise; Cashless Exercise Clause in Contracts

Method of Exercise; Cashless Exercise. To exercise the Warrants, Holder must (1) surrender to Company the Warrant Certificate evidencing such Warrants, and (2) deliver to Company payment of the applicable Exercise Price in cash, by certified check or cashier's check payable to the order of Company or by wire transfer to Company. As an alternative to paying the aggregate Exercise Price in cash, Holder may instead elect to effect a cashless exercise. Under a cashless exercised, Holder receives an amount of Warrant Shares determined by multiplying (i) the number of Warrant Shares into which Holder would otherwise be entitled as a result of such exercise by (ii) a fraction (a) the numerator of which is the difference between the then 5 - Warrant Agreement Current Market Price per Warrant Share and the applicable Exercise Price then in effect and (b) the denominator of which is the then Current Market Price per Warrant Share.

Method of Exercise; Cashless Exercise. To exercise the such Warrants, Holder must (1) shall surrender to Company the Warrant Certificate evidencing such Warrants, and (2) shall deliver to Company payment of the applicable Exercise Price in cash, by certified check or cashier's check payable to the order of Company or by wire transfer to Company. As an alternative to paying the aggregate such Exercise Price (or any portion thereof) in cash, Holder may instead elect to effect a cashless exercise. Under a cashless exercised, exercise pursuant to which Holder receives an amount of Warrant Shares determined by multiplying (i) the number of Warrant Shares into which Holder would otherwise be entitled as a result of such exercise by (ii) a fraction (a) the numerator of which is the difference between the then 5 - Warrant Agreement Current Market Price per Warrant Share and the applicable Exercise Price then in effect and (b) the denominator of which is the then Current Market Price per Warrant Share.