Price, Quantity and Term Sample Clauses

Price, Quantity and Term. (a) Grant. This Warrant certifies that for value received Xxxxxxxx Xxxxxx V, L.P. and its registered assigns (collectively, “Holder”), are entitled at any time, and from time to time, before Expiration, to purchase from Company up to 170,357 shares (the “Exercise Quantity”) of Company’s Series B Preferred Stock (“Preferred Stock”), at a price per share (the “Exercise Price”) equal to $0.4109, or to require Company to purchase this Warrant from Holder as provided in Section 1.4. If and to the extent that the Company creates, issues and sells the next Series of Preferred Stock (the “Series Next Issuance”), then Holder may elect that the Exercise Quantity (the “Series Next Exercise Quantity”) shall be equal to the quotient of (a) divided by (b), where (a) is equal to $70,000 and (b) is equal to the price per share paid for such next series of Preferred Stock when first issued (such price, the “Series Next Purchase Price”). Such election shall be made within thirty (30) days of the date of written notice to Holder of the Series Next Issuance pursuant to the Series Election in the form attached hereto as Attachment A, If no election is made within thirty (30) days of the date of notice to Holder of the Series Next Issuance, then the Exercise Quantity shall remain $70,000 of Company’s Series B Preferred Stock at a price per share equal to $0.4109. As used herein, “Warrant Shares” refers to the shares of Preferred Stock purchasable upon exercise of this Warrant, as adjusted from time to time pursuant to the provisions of this Warrant, and the shares of any class of securities resulting from any reclassifications of the Preferred Stock, including any conversion thereof to Common Stock, or from any applicable event described in Section 3. References to “Common Stock” include any present or future class of Company’s capital stock into which the Common Stock has been converted or for which it has been exchanged whose holders are not limited to a fixed percentage or sum with respect to dividends or liquidation proceeds, unless the context otherwise requires.

Price, Quantity and Term