Common use of Net Issue Election Clause in Contracts

Net Issue Election. The holder may elect to receive, without the payment by the holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the exchange of this Warrant or such portion to the Company, with the net issue election notice annexed hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) where X = the number of shares to be issued to the holder pursuant to this Section 1.4. Y = the number of shares covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.4. A = the fair market value of one share of Common Stock as determined in accordance with the provisions of this Section 1.4. B = the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.4. For purposes of this Section 1.4, the “fair market value” per share of Common Stock shall mean:

Net Issue Election. The holder may elect to receive, without the payment by the holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the exchange surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) A where X = the number of shares to be issued to the holder pursuant to this Section 1.41.6. Y = Y= the number of shares covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.41.6. A = A= the fair market value of one share of Common Stock Stock, as determined in accordance with the provisions of this Section 1.41.6. B = B= the Exercise Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.41.6. For purposes of this Section 1.41.6, the “"fair market value” " per share of the Company's Common Stock shall mean:

Net Issue Election. The holder may elect to receive, without the payment by the holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the exchange surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) ___________ A where X = the number of shares to be issued to the holder pursuant to this Section 1.41.5. Y = the number of shares covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.41.5. A = the fair market value of one share of Common Stock Stock, as determined in accordance with the provisions of this Section 1.41.5. B = the Exercise Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.41.5. For purposes of this Section 1.41.5, the “"fair market value” " per share of the Company's Common Stock shall mean:

Net Issue Election. The holder may elect to receive, without the payment by the holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the exchange of this Warrant or such portion to the Company, with the net issue election notice annexed hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X :X = Y (A-B) where X = the number of shares to be issued to the holder pursuant to this Section 1.4. Y = the number of shares covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.4. A = the fair market value of one share of Common Stock as determined in accordance with the provisions of this Section 1.4. B = the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.4. For purposes of this Section 1.4, the “fair market value” per share of Common Stock shall mean:

Net Issue Election. The holder Holder may elect to receive, without the payment by the holder Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the exchange surrender of this Warrant or such portion to the Company, with the net issue notice of election notice to purchase annexed hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the holder Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) A where X = the number of shares to be issued to the holder Holder pursuant to this Section 1.44. Y = the number of shares covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.44. A = the fair market value Fair Market Value (as defined below) of one share of Common Stock as determined in accordance with at the provisions of time the net issue election is made pursuant to this Section 1.44. B = the Exercise Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.44. For purposes Fair Market Value on the date of this Section 1.4, the “fair market value” per share of Common Stock calculation shall mean:

Net Issue Election. The holder Holder may elect to receive, without the payment by the holder Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the exchange surrender of this Warrant or such portion to the Company, with the net issue notice of election notice to purchase annexed hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the holder Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) where X = the number of shares to be issued to the holder Holder pursuant to this Section 1.44. Y = the number of shares covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.44. A = the fair market value Fair Market Value (as defined below) of one share of Common Stock as determined in accordance with at the provisions of time the net issue is made pursuant to this Section 1.44. B = the Exercise Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.44. For purposes Fair Market Value on the date of this Section 1.4, the “fair market value” per share of Common Stock calculation shall mean:

Net Issue Election. The holder Holder may elect to receive, without the payment by the holder Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the exchange surrender of this Warrant or such portion to (together with a duly executed exercise notice in the Company, with the net issue election notice annexed form attached hereto duly executed, as Exhibit A-2) at the principal office of the Company. Thereupon, the Company shall issue to the holder Holder such number of fully paid and nonassessable shares of Common Stock Shares as is computed using the following formula: X = Y (A-B) where X = the number of shares Shares to be issued to the holder Holder pursuant to this Section 1.44.2. Y = the number of shares Shares covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.44.2. A = the fair market value Fair Market Value of one share of Common Stock Stock, as determined in accordance with Section 7 herein, as at the provisions of time the net issue election is made pursuant to this Section 1.44.2. B = the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.4. For purposes of this Section 1.4, the “fair market value” per share of Common Stock shall mean:4.2.

Net Issue Election. The holder Holder may elect to receive, without the payment by the holder Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the exchange surrender of this Warrant or such portion to (together with a duly executed notice of exercise in the Company, with the net issue election notice annexed form attached hereto duly executed, as Exhibit A-2) at the principal office of the Company. Thereupon, the Company shall issue to the holder Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) where Where X = the number of shares of Common Stock to be issued to the holder Holder pursuant to this Section 1.44.2. Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.44.2. A = the fair market value Fair Market Value of one share of Common Stock Stock, as determined in accordance with Section 7 herein, as at the provisions of time the net issue election is made pursuant to this Section 1.44.2. B = the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.4. For purposes of this Section 1.4, the “fair market value” per share of Common Stock shall mean:4.2.

Net Issue Election. The holder Holder may elect to receive, without the payment by the holder Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the exchange surrender of this Warrant or such portion to the Company, with the net issue notice of election notice to purchase annexed hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the holder Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) where X = the number of shares to be issued to the holder Holder pursuant to this Section 1.44. Y = the number of shares covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.44. A = the fair market value Fair Market Value (as defined below) of one share of Common Stock as determined in accordance with at the provisions of time the net issue election is made pursuant to this Section 1.44. B = the Exercise Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.44. For purposes Fair Market Value on the date of this Section 1.4, the “fair market value” per share of Common Stock calculation shall mean: