Common use of Method of Exercise; Payment; Issuance of New Warrant Clause in Contracts

Method of Exercise; Payment; Issuance of New Warrant. (a) Subject to Section 1 hereof, the purchase right represented by this Warrant may be exercised by the holder hereof, in whole or in part and from time to time, at the election of the holder hereof, by (a) the surrender of this Warrant (with the notice of exercise substantially in the form attached hereto as Exhibit A-1 duly completed and executed) at the principal office of the Company and by the payment to the Company, by certified or bank check, or by wire transfer to an account designated by the Company (a “Wire Transfer”) of an amount equal to the then applicable Warrant Price multiplied by the number of Shares then being purchased; (b) if in connection with a registered public offering of the Company’s securities, the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit A-2 duly completed and executed) at the principal office of the Company together with notice of arrangements reasonably satisfactory to the Company for payment to the Company either by certified or bank check or by Wire Transfer from the proceeds of the sale of securities to be sold by the holder in such public offering of an amount equal to the then applicable Warrant Price per Share multiplied by the number of Shares then being purchased; or (c) exercise of the “net issuance” right provided for in Section 10.2 hereof.

Method of Exercise; Payment; Issuance of New Warrant. (a) Subject to Section 1 hereof, the purchase right represented by this Warrant may be exercised by the holder hereof, in whole or in part and from time to time, at the election of the holder hereof, by (a) the surrender of this Warrant (with the notice of exercise substantially in the form attached hereto as Exhibit A-1 duly completed and executed) at the principal office of the Company and by the payment to the Company, by certified or bank check, or by wire transfer to an account designated by the Company (a “Wire Transfer”) of an amount equal to the then applicable Warrant Price multiplied by the number of Shares then being purchased; (b) if in connection with a registered public offering of the Company’s securitiessecurities pursuant to which the Shares are being registered, the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit A-2 duly completed and executed) at the principal office of the Company together with notice of arrangements reasonably satisfactory to the Company for payment to the Company either by certified or bank check or by Wire Transfer from the proceeds of the sale of securities shares to be sold by the holder in such public offering of an amount equal to the then applicable Warrant Price per Share share multiplied by the number of Shares then being purchased; or (c) exercise of the “net issuance” right provided for in Section 10.2 hereof.Section

Method of Exercise; Payment; Issuance of New Warrant. (a) Subject to Section 1 2 hereof, the purchase right represented by this Warrant may be exercised by the holder hereofHolder, in whole or in part and from time to time, at the election of the holder hereofpart, by (a) the surrender of this Warrant (with the notice of exercise substantially in the form attached hereto as Exhibit A-1 duly completed and executed) at the principal office of the Company and by the payment to the Company, by certified or bank check, or by wire transfer to an account designated by the Company (a “Wire Transfer”) of an amount equal to the then applicable Warrant Price multiplied by the number of Shares then being purchased; (b) if in connection with a registered public offering of the Company’s securities, the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit A-2 Appendix A duly completed and executed) at the principal office of the Company together with notice of arrangements reasonably satisfactory to the Company for and by payment to the Company either by certified or bank check or by Wire Transfer from in accordance with the proceeds terms set forth below. In the event of any exercise of the sale purchase right represented by this Section 3, certificates for the Shares so purchased shall be delivered to the Holder within seven (7) days of securities receipt of such payment and, unless this Warrant has been fully exercised or expired, a new Warrant representing the portion of the Shares, if any, with respect to which this Warrant shall not then have been exercised shall also be sold issued to the Holder within such seven (7) day period. The Holder may either (i) exercise all or any portion of the outstanding Warrant by paying to the holder in such public offering of Company, by cash or check, an amount equal to the then applicable Warrant aggregate Exercise Price per Share multiplied by of the number of Shares then being purchased; purchased or (cii) exercise receive Shares equal to the value (as determined below) of this Warrant by surrender of the “net issuance” right provided for Warrant at the principal office of the Company together with a notice of such election in Section 10.2 hereofwhich event the Company shall issue to the Holder a number of shares of Stock computed using the following formula: X = Y (A-B) ------- A Where: X = The number of shares to be issued to the Holder. Y = The number of shares to be exercised under this Warrant.