Common use of Put Price Clause in Contracts

Put Price. In the event that any Holder exercises the Put Option, the price (the "Put Price") to be paid to each such Holder pursuant to this Agreement will be cash in the sum of the amount determined by multiplying the higher of (a) the Book Value or (b) the Fair Market Value per share of Common Stock as of the end of the month immediately preceding the date notice is given of the exercise of the Put Option pursuant to Section 4.03 times the number of shares of Common Stock for which the Put Option is being exercised by such Holder plus the higher of (a) the Book Value or (b) the Fair Market Value of the Other Securities issuable upon exercise of the portion of the Warrants subject to the Put Option; provided, however, the Fair Market Value (as opposed to the Book Value) shall only be utilized in determining such Put Price if, for the thirty (30) consecutive days prior to the exercise of the Put Option, the Common Stock has been trading on a national securities exchange as its primary market (as contemplated in clause (a) of the definition of Closing Price) with an average trading volume of at least 150,000 shares per day and an average market capitalization of the Company of at least $50,000,000 (calculated on the basis of the product of (i) the number of shares of registered Common Stock outstanding on the date of determination and (ii) the reported closing prices of Common Stock quoted on such exchange over the period of thirty (30) days prior to the date of determination).

Put Price. In the event that any Holder exercises the Put Option, the price (the "Put Price") to be paid to each such Holder pursuant to this Agreement will be cash in the sum of the amount determined by multiplying the higher of (a) the Book Value or (b) the Fair Market Value per share of Common Stock as of the end of the month immediately preceding the date notice is given of the exercise of the Put Option pursuant to Section 4.03 times the number of shares of Common Stock for which the Put Option is being exercised by such Holder plus the higher of (a) the Book Value or (b) the Fair Market Value of the Other Securities issuable upon exercise of the portion of the Priority Warrants subject to the Put Option; provided, however, the Fair Market Value (as opposed to the Book Value) shall only be utilized in determining such Put Price if, for the thirty (30) consecutive days prior to the exercise of the Put Option, the Common Stock has been trading on a national securities exchange as its primary market (as contemplated in clause (a) of the definition of Closing Price) with an average trading volume of at least 150,000 shares per day and an average market capitalization of the Company of at least $50,000,000 (calculated on the basis of the product of (i) the number of shares of registered Common Stock outstanding on the date of determination and (ii) the reported closing prices of Common Stock quoted on such exchange over the period of thirty (30) days prior to the date of determination).

Put Price. In the event that any Holder exercises the Put --------- Option, the price (the "Put Price") to be paid to each such Holder pursuant to --------- this Agreement will be cash in the sum of the amount determined by multiplying the higher of (a) the Book Value or (b) the Fair Market Value per share of Common Stock as of the end of the month immediately preceding the date notice is given of the exercise of the Put Option pursuant to Section 4.03 times the ------------ number of shares of Common Stock for which the Put Option is being exercised by such Holder plus the higher of (a) the Book Value or (b) the Fair Market Value of the Other Securities issuable upon exercise of the portion of the Warrants subject to the Put Option; provided, however, the Fair Market Value (as opposed -------- ------- to the Book Value) shall only be utilized in determining such Put Price if, for the thirty (30) consecutive days prior to the exercise of the Put Option, the Common Stock has been trading on a national securities exchange as its primary market (as contemplated in clause (a) of the definition of Closing Price) with an average trading volume of at least 150,000 shares per day and an average market capitalization of the Company of at least $50,000,000 (calculated on the basis of the product of (i) the number of shares of registered Common Stock outstanding on the date of determination and (ii) the reported closing prices of Common Stock quoted on such exchange over the period of thirty (30) days prior to the date of determination).