Common use of Net Exercise Election Clause in Contracts

Net Exercise Election. Subject to the terms and conditions of this Warrant, the Holder may elect to convert all or a portion of this Warrant, without the payment by the Holder of any additional consideration, at any time prior to the Expiration Date, by the surrender of this Warrant or such portion of this Warrant to the Company, with the net exercise election selected in the Notice of Exercise attached hereto as Exhibit A duly executed by the Holder, into up to the number of Shares that is obtained under the following formula: Where: X = the number of Shares to be issued to the Holder pursuant to this Section 1.2. Y = the number of Shares as to which this Warrant is then being net exercised. A = the fair market value of one Share.

Net Exercise Election. Subject to the terms and conditions of this Warrant, the Holder may elect to convert all or a portion of this Warrant, without the payment by the Holder of any additional consideration, at any time prior to the Expiration Date, by the surrender of this Warrant or such portion of this Warrant to the Company, with the net exercise election selected in the Notice of Exercise attached hereto as Exhibit A duly executed by the Holder, into up to the number of Shares that is obtained under the following formula: X = Y (A-B) Where: X = the number of Shares to be issued to the Holder pursuant to this Section 1.2. Y = the number of Shares as to which this Warrant is then being net exercised. A = the fair market value of one Share.

Net Exercise Election. Subject to the terms and conditions of this Warrant, the Holder may elect to convert all or a portion of this Warrant, without the payment by the Holder of any additional consideration, at any time prior to the Expiration Date, by the surrender of this Warrant or such portion of this Warrant to the Company, with the net exercise election selected in the Notice of Exercise attached hereto as Exhibit A B duly executed by the Holder, into up to the number of Shares that is obtained under the following formula: X = Y (A-B) A Where: X = the number of Shares to be issued to the Holder pursuant to this Section 1.22.2. Y = the number of Shares as to which this Warrant is then being net exercised. A = the fair market value of one Share.

Net Exercise Election. Subject to the terms and conditions of this Warrant, the Holder may elect to convert all or a portion of this WarrantWarrant representing Shares, without the payment by the Holder of any additional consideration, at any time prior or from time to time, on any business day before the Expiration Date, by the surrender of this Warrant or such portion of this Warrant to the Company, with the net exercise election selected in the Notice of Exercise attached hereto as Exhibit A duly executed by the Holder, into up to the number of Shares that is obtained under the following formula: Where: X = the number of Shares to be issued to the Holder pursuant to this Section 1.22.2. Y = the number of Shares as to which this Warrant is then being net exercised. A = the fair market value of one Share.

Net Exercise Election. Subject to the terms and conditions of this Warrant, the Holder may elect to convert all or a portion of this Warrant, without the payment by the Holder of any additional consideration, at any time prior to the Expiration Date, by the surrender of this Warrant or such portion of this Warrant to the Company, with the net exercise election selected in the Notice of Exercise attached hereto as Exhibit A B duly executed by the Holder, into up to the number of Shares that is obtained under the following formula: X = Y (A-B) A Where: X = the number of Shares to be issued to the Holder pursuant to this Section 1.2. Y = the number of Shares as to which this Warrant is then being net exercised. A = the fair market value of one Share.