Common use of Negotiability, etc Clause in Contracts

Negotiability, etc. Subject to Section 2 above, this Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this Warrant This Option is issued upon the following terms, to all of which each the Holder or owner hereof hereof, by the taking hereof hereof, consents and agrees: (a) subject to the provisions hereof, title to this Warrant Option may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant Option, properly endorsed endorsed, is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant Option in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant Option is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereofattached hereto as Schedule II) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder taker or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title Title to this Warrant warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereofhereof including guaranty of signature) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any Any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered granted power to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each every such bona fide purchaser purchaser, and each every such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and. (c) until Until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof of this Warrant as the absolute owner hereof for all purposes, notwithstanding purposes without being affected by any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees, subject to the limitation on transfer set forth in Section 11: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (b) subject to the foregoing, any person in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder any holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this Warrant This Right is issued upon the following terms, to all of which each Holder taker or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title Title to this Warrant Right may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereofhereof including guaranty of signature) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any Any person in possession of this Warrant Right properly endorsed is authorized to represent himself as absolute owner hereof and is empowered granted power to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant Right in favor of each every such bona fide purchaser purchaser, and each every such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and. (c) until Until this Warrant Right is transferred on the books of the Company, the Company may treat the registered Holder hereof of this Right as the absolute owner hereof for all purposes, notwithstanding purposes without being affected by any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant or a portion hereof may be transferred by endorsement (by the Holder hereof Transferor executing the form of assignment at the end hereofTransferor Endorsement Form) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession (which possession may be joint) of this Warrant properly endorsed with an executed Transferor Endorsement Form naming such person as a Transferee under the heading "Transferees" is authorized to represent himself as absolute owner hereof of the portion of this Warrant stated in such Transferor Endorsement Form opposite the name of such person under the heading "Number Transferred" and is empowered to transfer absolute title hereto to such portion of this Warrant by endorsement and delivery hereof thereof to a bona fide purchaser hereof thereof for value, notwithstanding the requirements of Section 10 hereof; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred to any affiliate of the holder hereof by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (b) subject to the foregoing, any person permitted transferee in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 above, this Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) : subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) ; subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) and until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this Warrant is The Warrants are issued upon the following terms, to all of which each Holder holder or owner hereof thereof by the taking hereof receipt and holding thereof consents and agrees: (a) subject to the provisions Section 2 and Section 15(g) hereof, title to this Warrant the Warrants and all rights thereunder may be transferred in whole or in part, without charge to the holder thereof (except for transfer taxes), by endorsement (by the Holder hereof holder thereof executing the form of assignment at the end hereofthereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoingSection 2 and Section 15(g) thereof, any person in possession of this Warrant Warrants properly endorsed is authorized to represent himself as absolute owner hereof thereof and is empowered to transfer absolute title hereto thereto by endorsement and delivery hereof thereof to a bona fide purchaser hereof thereof for value; each prior taker or owner waives and renounces all of his or its equities or rights in this Warrant the Warrants in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto thereto and to all rights represented herebythereby; and (c) until this Warrant is the Warrants are transferred on the books of the Company, the Company may treat the registered Holder hereof holder thereof as the absolute owner hereof thereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Supplemental Warrant is issued upon the following terms, to all of which each Registered Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of Section 4 of the Securities Purchase Agreement, title to this Supplemental Warrant may be transferred by endorsement (by the Registered Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Supplemental Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Supplemental Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Supplemental Warrant is transferred on the books of the Company, the Company may treat the registered Registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees:. (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each the Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred to any Affiliate of the holder hereof by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (b) subject to the foregoing, any person permitted transferee in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereofattached hereto as (Schedule II) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each the Holder or owner hereof hereof, by the taking hereof hereof, consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant Warrant, properly endorsed endorsed, is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; , each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; , and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this Warrant is The Warrants are issued upon the following terms, to all of which each Holder CapWest or any other holder or owner hereof thereof by the taking hereof receipt and holding thereof consents and agrees: (a) subject to the provisions Section 2 hereof, title to this Warrant the Warrants and all rights thereunder may be transferred only in whole, without charge to the holder thereof (except for transfer taxes), by endorsement (by the Holder hereof holder thereof executing the form of assignment at the end hereofthereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoingSection 2 hereof, any person in possession of this Warrant Warrants properly endorsed is authorized to represent himself as absolute owner hereof thereof and is empowered to transfer absolute title hereto thereto by endorsement and delivery hereof thereof to a bona fide purchaser hereof thereof for value; each prior taker or owner waives and renounces all of his or its equities or rights in this Warrant the Warrants in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto thereto and to all rights represented herebythereby; and (c) until this Warrant is the Warrants are transferred on the books of the Company, the Company may treat the registered Holder hereof holder thereof as the absolute owner hereof thereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Registered Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of Section 4 of the Securities Purchase Agreement, title to this Warrant may be transferred by endorsement (by the Registered Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner the holder hereof by the taking hereof consents and agrees: (a) subject to the provisions hereoftransfer restrictions herein, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoingtransfer restrictions herein, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this THIS Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred to any Affiliate of the holder hereof by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (b) subject to the foregoing, any person permitted transferee in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide BONA FIDE purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser BONA FIDE purchaser, and each such bona fide BONA FIDE purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide BONA FIDE purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser BONA FIDE purchaser, and each such bona fide BONA FIDE purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide BONA FIDE purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser BONA FIDE purchaser, and each such bona fide BONA FIDE purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this Warrant is issued upon the following terms, to all of which each the Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by by: (i) endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and (ii) delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any Any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act of 1933, as amended or, pursuant to an applicable exemption therefrom or in accordance with Regulation S promulgated under such Act.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder the holder or owner hereof hereof, by the taking hereof hereof, consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees:; (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereofattached hereto as SCHEDULE II) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as a absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder Warrantholder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of Section II of this Warrant and Section 4 of the Securities Purchase Agreement, title to this Warrant may be transferred by endorsement (by the Holder Warrantholder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder register Warrantholder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder the Investor or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant or a portion hereof may be transferred by endorsement (by the Holder hereof Transferor executing the form of assignment at the end hereofTransferor Endorsement Form) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession (which possession may be joint) of this Warrant properly endorsed with an executed Transferor Endorsement Form naming such person as a Transferee under the heading "Transferees" is authorized to represent himself as absolute owner hereof of the portion of this Warrant stated in such Transferor Endorsement Form opposite the name of such person under the heading "Number Transferred" and is empowered to transfer absolute title hereto to such portion of this Warrant by endorsement and delivery hereof thereof to a bona fide purchaser hereof thereof for value, notwithstanding the requirements of Section 10 hereof; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser tide purchaser, but shall remain obligated under any confidentiality and/or public trading lockup agreement executed by such prior owner in connection with this Warrant, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof hereof, consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereofattached hereto as SCHEDULE III) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees:. (a) subject to the provisions hereof, 1. title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, 2. any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) 3. until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and 4. notwithstanding the foregoing, this Warrant may be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this This Conditional Warrant is issued upon the following terms, to all of which each Registered Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of Section 3.1 of the Securities Purchase Agreement, title to this Conditional Warrant may be transferred by endorsement (by the Registered Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Conditional Warrant properly endorsed is authorized to represent himself himself, herself or itself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Conditional Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Conditional Warrant is transferred on the books of the Company, the Company may treat the registered Registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of the Shareholders' Agreement, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (b) subject to the foregoing, any person in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 above, this This Conditional Warrant is issued upon the following terms, to all of which each Registered Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of Section 4 of the Securities Purchase Agreement, title to this Conditional Warrant may be transferred by endorsement (by the Registered Holder hereof executing the form of assignment in the form of Annex C at the end hereof) and delivery in the same manner as in the case of a ------- negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Conditional Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Conditional Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Conditional Warrant is transferred on the books of the Company, the Company may treat the registered Registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this Warrant is ------------------- issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any person in possession of this Warrant properly endorsed and the prior holder is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act or pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; COMMON STOCK PURCHASE WARRANT NO. 1 - Page 7 Warrant 1 (Take-Two Interactive Software, Inc.) (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Act"), or, pursuant to an applicable exemption therefrom (including in accordance with Regulation D promulgated under the Act).

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Registered Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of Section 4 of the Securities Purchase Agreement, title to this Warrant may be transferred by endorsement (by the Registered Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary. 15.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of the Amended and Restated Voting Agreement, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereofattached hereto) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (b) subject to the foregoing, any person in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, ------------------ to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred to any affiliate of the holder hereof by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (b) subject to the foregoing, any person permitted transferee in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto here and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the ------------------- following terms, to all of which each Registered Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of the Securities Purchase Agreement, title to this Warrant may be transferred by endorsement (by the Registered Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofcompliance with all applicable securities laws, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of the Investors’ Rights Agreement, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (b) subject to the foregoing, any person in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following ------------------ terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofcompliance with federal and applicable state securities laws, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, ------------------ to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery, subject to compliance with all applicable Federal and state securities laws; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker taken or owner waives and renounces all of his this equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; COMMON STOCK PURCHASE WARRANT NO. 2- Page 7 Warrant 2 (Take-Two Interactive Software, Inc.) (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Act"), or, pursuant to an applicable exemption therefrom (including in accordance with Regulation D promulgated under the Act).

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in COMMON STOCK PURCHASE WARRANT NO. 1-PAGE 8 (AutoBond Acceptance Corporation) the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Act"), or, pursuant to an applicable exemption therefrom (including in accordance with Regulation D promulgated under the Act).

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Registered Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of Section 2 of this Warrant, title to this Warrant may be transferred by endorsement (by the Registered Holder hereof executing the form of assignment at the end hereofAssignment attached hereto as Annex B) and delivery ------- in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 1 above, this Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;: (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; : each prior taker or owner waives and renounces all of his this equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; : and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees, subject to the limitation on transfer set forth in Section 11: (am) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (bn) subject to the foregoing, any person in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to ------------------ all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder Warrantholder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereofterms of Section 2 of this Warrant, title to this Warrant may be transferred by endorsement (by the Holder Warrantholder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such 9 bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder the Investor or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant or a portion hereof may be transferred by endorsement (by the Holder hereof Transferor executing the form of assignment at the end hereofTransferor Endorsement Form) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession (which possession may be joint) of this Warrant properly endorsed with an executed Transferor Endorsement Form naming such person as a Transferee under the heading "Transferees" is authorized to represent himself as absolute owner hereof of the portion of this Warrant stated in such Transferor Endorsement Form opposite the name of such person under the heading "Number Transferred" and is empowered to transfer absolute title hereto to such portion of this Warrant by endorsement and delivery hereof thereof to a bona fide purchaser hereof thereof for value, notwithstanding the requirements of Section 10 hereof; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, but shall remain obligated under any confidentiality and/or public trading lockup agreement executed by such prior owner in connection with this Warrant, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any Any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, 1) and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act of 1933, as amended or, pursuant to an applicable exemption therefrom or in accordance with Regulation S promulgated under such Act.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;. (b) subject to the foregoing, any Any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act of 1933, as amended or, pursuant to an applicable exemption therefrom.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees, subject to the limitation on transfer set forth in Section 9: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery;; and (b) subject to the foregoing, any person in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and . Nothing in this paragraph (cb) until this Warrant is transferred shall create any liability on the books part of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding beyond any notice to the contraryliability or responsibility it has under law.

Negotiability, etc. Subject to Section 2 1 above, this Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant properly endorsed is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide BONA FIDE purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser BONA FIDE purchaser, and each such bona fide BONA FIDE purchaser shall acquire absolute title hereto and to all rights represented hereby; and; (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary; and (d) notwithstanding the foregoing, this Warrant may not be sold, transferred or assigned except pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Act"), or, pursuant to an applicable exemption therefrom (including in accordance with Regulation D promulgated under the Act).

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each the Holder or owner hereof by the taking hereof consents and agrees: (a) subject to the provisions Section 11 hereof, title to this Warrant may be transferred by endorsement (by the Holder hereof Holder' s executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, any person in possession of this Warrant Warrant, properly endorsed endorsed, is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value, subject to Section 11 hereof; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until this Warrant is transferred on the books of the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

Negotiability, etc. Subject to Section 2 above, this This Warrant is issued upon the following terms, to all of which each Holder holder or owner hereof by the taking hereof consents and agrees: (a) : subject to the provisions hereofterms of the Stockholders' Agreement, title to this Warrant may be transferred by endorsement (by the Holder holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a negotiable instrument transferable by endorsement and delivery; (b) subject to the foregoing, ; and any person in possession of this Warrant properly endorsed for transfer to such person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide purchaser purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby; and (c) until . Notices, etc. All notices and other communications from the Company to the holder of this Warrant is transferred on shall be mailed by first class registered or certified mail, postage prepaid, at such address as may have been furnished to the books Company in writing by such holder or, until any such holder furnishes to the Company an address, then to, and at the address of, the last holder of this Warrant who has so furnished an address to the Company, the Company may treat the registered Holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.