Common use of Redemption by Corporation Clause in Contracts

Redemption by Corporation. The Corporation may redeem shares of its Class D Preferred Stock pursuant to the following provisions: (A) The Corporation may, at any time and from time to time, on or after March 1, 2008, redeem all or a portion of the then outstanding shares of Class D Preferred Stock at the started value thereof (namely $1.50 per share) plus accrued and unpaid dividends thereon (cumulatively the "Redemption Amount") by either (i) a check equal to the Redemption Amount or (ii) such number of share of common stock of the Corporation as determined by dividing the "market value" as calculated pursuant to Section 7 hereof of such common stock as of the date set by the Corporation for such redemption, into the Redemption Amount. (B) Notice of any redemption of the Class D Preferred Stock shall be mailed at least thirty, but no more than sixty, days prior to the date fixed for redemption to each holder of Class D Preferred Stock to be redeemed, at such holder's address as it appears on the books of the Corporation. In order to facilitate the redemption of the Class D Preferred Stock, the Board of Directors may fix a record date for the determination of holders of Class D Preferred Stock to be redeemed, or may cause the transfer book of the Corporation to be closed for the transfer of the Class D Preferred Stock, not more than sixty days prior to the date fixed for such redemption. (C) Upon any notice of redemption being sent to the holders of Class D Preferred Stock, notwithstanding that any certificates for such share shall not have been surrendered for cancellation, the shares represented thereby shall no longer be deemed outstanding, the rights to receive dividends thereon shall cease to accrue from and after the date of redemption designated in the notice of redemption and all rights of the holders of the shares of the Class D Preferred Stock called for redemption shall cease and terminate, excepting only the right to receive the redemption price therefor. (D) No fractional shares of common stock shall be issued upon redemption of any Class D Preferred Stock. Instead any fractional share of common stock which would otherwise be issuable upon redemption of any Class D Preferred Stock (or specified portions thereof), shall be rounded up to the next whole number of shares of common stock. (E) In the case of any certificates of Class D Preferred Stock which is redeemed in part only, upon such redemption the Corporation shall execute and deliver, at the expense of the Corporation, a new certificate or certificates of Class D Preferred Stock in an amount equal to those shares of the Class D Preferred Stock which has not been redeemed by the Corporation.

Redemption by Corporation. The Corporation may redeem shares of its Class D C Preferred Stock pursuant to the following provisions: (A) The Corporation may, at any time and from time to time, on or after March 1, 2008, redeem all or a portion of the then outstanding shares of Class D C Preferred Stock at the started value thereof (namely $1.50 per share) plus accrued and unpaid dividends thereon (cumulatively the "Redemption Amount") by either (i) a check equal to the Redemption Amount or (ii) such number of share of common stock of the Corporation as determined by dividing the "market value" as calculated pursuant to Section 7 8 hereof of such common stock as of the date set by the Corporation for such redemption, into the Redemption Amount. (B) Notice of any redemption of the Class D C Preferred Stock shall be mailed at least thirty, but no more than sixty, days prior to the date fixed for redemption to each holder of Class D C Preferred Stock to be redeemed, at such holder's address as it appears on the books of the Corporation. In order to facilitate the redemption of the Class D C Preferred Stock, the Board of Directors may fix a record date for the determination of holders of Class D C Preferred Stock to be redeemed, or may cause the transfer book of the Corporation to be closed for the transfer of the Class D C Preferred Stock, not more than sixty days prior to the date fixed for such redemption. (C) Upon any notice of redemption being sent to the holders of Class D C Preferred Stock, notwithstanding that any certificates for such share shall not have been surrendered for cancellation, the shares represented thereby shall no longer be deemed outstanding, the rights to receive dividends thereon shall cease to accrue from and after the date of redemption designated in the notice of redemption and all rights of the holders of the shares of the Class D C Preferred Stock called for redemption shall cease and terminate, excepting only the right to receive the redemption price therefor. (D) No fractional shares of common stock shall be issued upon redemption of any Class D C Preferred Stock. Instead any fractional share of common stock which would otherwise be issuable upon redemption of any Class D C Preferred Stock (or specified portions thereof), shall be rounded up to the next whole number of shares of common stock. (E) In the case of any certificates of Class D C Preferred Stock which is redeemed in part only, upon such redemption the Corporation shall execute and deliver, at the expense of the Corporation, a new certificate or certificates of Class D C Preferred Stock in an amount equal to those shares of the Class D C Preferred Stock which has not been redeemed by the Corporation.

Redemption by Corporation. The (i) If at any time after that date which is two (2) years after the Closing Date, the average of the Closing Bid Prices for the Common Stock for ten (10) consecutive trading days is greater than the Conversion Price Ceiling multiplied by 1.5 (subject to equitable adjustments for stock splits, stock dividends, reclassifications or similar events during such ten (10) trading day period), then the Corporation may shall have the right to redeem shares up to fifty percent (50%) of its Class D the Series H Preferred Stock for a price per share equal to the Optional Redemption Amount (as defined below). If at any time after the Closing Date the average of the Closing Bid Prices for the Common Stock for ten (10) consecutive trading days is greater than the Conversion Price Ceiling multiplied by 2.0 (subject to equitable adjustments for stock splits, stock dividends, reclassifications or similar events during such ten (10) trading day period) then the Corporation shall have the right to redeem (such right, collectively with the Corporation's redemption rights pursuant to the following provisions: (A) The Corporation may, at any time and from time to time, on or after March 1, 2008, redeem all or a portion of the then outstanding shares of Class D Preferred Stock at the started value thereof (namely $1.50 per share) plus accrued and unpaid dividends thereon (cumulatively the "Redemption Amount") by either (i) a check equal to the Redemption Amount or (ii) such number of share of common stock of the Corporation as determined by dividing the "market value" as calculated pursuant to Section 7 hereof of such common stock as of the date set by the Corporation for such redemption, into the Redemption Amount. (B) Notice of any redemption of the Class D Preferred Stock shall be mailed at least thirty, but no more than sixty, days prior to the date fixed for redemption to each holder of Class D Preferred Stock to be redeemed, at such holder's address as it appears on the books of the Corporation. In order to facilitate the redemption of the Class D Preferred Stock, the Board of Directors may fix a record date for the determination of holders of Class D Preferred Stock to be redeemed, or may cause the transfer book of the Corporation to be closed for the transfer of the Class D Preferred Stock, not more than sixty days prior to the date fixed for such redemption. (C) Upon any notice of redemption being sent to the holders of Class D Preferred Stock, notwithstanding that any certificates for such share shall not have been surrendered for cancellation, the shares represented thereby shall no longer be deemed outstanding, the rights to receive dividends thereon shall cease to accrue from and after the date of redemption designated in the notice of redemption and all rights of the holders of the shares of the Class D Preferred Stock called for redemption shall cease and terminate, excepting only the right to receive the redemption price therefor. (D) No fractional shares of common stock shall be issued upon redemption of any Class D Preferred Stock. Instead any fractional share of common stock which would otherwise be issuable upon redemption of any Class D Preferred Stock (or specified portions thereof)immediately preceding sentence, shall be rounded up referred to as "REDEMPTION AT CORPORATION'S ELECTION") any or all of the next whole number of shares of common stock. (E) In the case of any certificates of Class D Series H Preferred Stock which is redeemed in part only, upon such redemption the Corporation shall execute and deliver, at the expense of the Corporation, a new certificate or certificates of Class D Preferred Stock in for an amount equal to those the Optional redemption Amount. A Redemption at Corporation's Election shall be exercisable by the Corporation in its sole discretion by delivery of an Optional Redemption Notice (as defined below). Holders of Series H Preferred Stock may convert all or any part of their shares of the Class D Series H Preferred Stock into Common Stock by delivering a Notice of Conversion to the Corporation at any time prior to that date which has not been redeemed by is ten (10) days after receipt of an Optional Redemption Notice. The "OPTIONAL REDEMPTION Amount" with respect to each share of Preferred Stock means (a) for redemptions pursuant to the Corporation.first sentence of this subparagraph (i), an amount equal to: (1,000 + P) X 1.5 ------------------- CCP and (b) for redemptions pursuant to the second sentence of this subparagraph (I), an amount equal to: (1,000 + P) X 2.0 -------------------- CCP where:

Redemption by Corporation. The Corporation may redeem shares of its Class D Preferred Stock pursuant to the following provisions: (Aa) The Corporation may, at At any time and from time to time, or times on or after March 1the date hereof, 2008provided the Corporation is not in material violation of any of its obligations under this Prepaid Warrant, the Securities Purchase Agreement or the Registration Rights Agreement and so long as no Event of Default shall have occurred and be continuing other than any Event of Default provided in Article VI.A.(v)(a) or (c) (and the Holder does not waive such violation or Event of Default), the Corporation shall have the right (a "CALL"), in its sole discretion, to redeem any or all or a portion of the then Exercise Amounts of outstanding shares Prepaid Warrants which Exercise Amounts at such time are exercisable on the date the Corporation delivers a Notice of Class D Preferred Stock at Call to the started value thereof Holders (namely $1.50 per share"ELIGIBLE EXERCISE AMOUNTS"); provided that the Conditions to a Call (as set forth below) plus accrued and unpaid dividends thereon are satisfied, provided, however, that in the event of a Call in connection with an Event of Default provided for in Article VI.A.(v)(a) or (cumulatively c) the only Condition to Call shall be clause (vi) in the definition thereof. The Corporation shall exercise its right to Call by providing each holder of Prepaid Warrants written notice ("Redemption AmountNOTICE OF CALL") by either (i) a check equal to the Redemption Amount or (ii) such number of share of common stock of the Corporation as determined by dividing the "market value" as calculated pursuant to Section 7 hereof of such common stock as of the date set by the Corporation for such redemption, into the Redemption Amount. (B) Notice of any redemption of the Class D Preferred Stock shall be mailed at least thirty, but no more than sixty, thirty (30) days prior to the date fixed selected by the Corporation for redemption a Call (the "CALL DATE"). On the Call Date the Corporation shall pay the Call Amount (as defined below) to each holder Holder. If the Corporation elects to so Call some, but not all, of Class D Preferred Stock to be redeemedthe Eligible Exercise Amounts, at such holder's address as it appears the Corporation shall Call a pro rata amount of the Eligible Exercise Amounts from each Holder of Prepaid Warrants (based on the books dollar amount of the Eligible Exercise Amounts of Prepaid Warrants held by such holder relative to the total dollar amount of Prepaid Warrants outstanding on the date of the Corporation. In order to facilitate the redemption 's delivery of the Class D Preferred Stock, Notice of Call). The Notice of Call shall indicate (x) the Board of Directors may fix a record date for the determination of holders of Class D Preferred Stock to be redeemed, or may cause the transfer book dollar amount of the Eligible Exercise Amounts of Prepaid Warrants the Corporation to has selected for Call, (y) the Call Date, which date shall not be closed for the transfer of the Class D Preferred Stock, not less than 30 or more than sixty 40 days prior to the date fixed for after each holder's receipt of such redemption. notice, and (C) Upon any notice of redemption being sent to the holders of Class D Preferred Stock, notwithstanding that any certificates for such share shall not have been surrendered for cancellation, the shares represented thereby shall no longer be deemed outstanding, the rights to receive dividends thereon shall cease to accrue from and after the date of redemption designated in the notice of redemption and all rights of the holders of the shares of the Class D Preferred Stock called for redemption shall cease and terminate, excepting only the right to receive the redemption price therefor. (D) No fractional shares of common stock shall be issued upon redemption of any Class D Preferred Stock. Instead any fractional share of common stock which would otherwise be issuable upon redemption of any Class D Preferred Stock (or specified portions thereofz), shall be rounded up to the next whole number of shares of common stock. (E) In the case of any certificates of Class D Preferred Stock which is redeemed in part only, upon such redemption the Corporation shall execute and deliver, at the expense of the Corporation, a new certificate or certificates of Class D Preferred Stock in an amount equal to those shares of the Class D Preferred Stock which has not been redeemed by the Corporation.

Redemption by Corporation. The Corporation may redeem shares of its Class D Preferred Stock pursuant to To the following provisions: (A) The Corporation extent funds are legally available therefor, the Company may, at any time and from time to time, on or after March 1_____________, 2008200__(2) redeem for the Series A Redemption Price each share of Series A Preferred Stock then outstanding. To the extent finds are legally available therefor, the Company shall, at the request of a majority of the holders of shares of Series A Preferred Stock then outstanding given at any time on and after the Put Date, redeem all or a portion for the Series A Redemption Price each share of Series A Preferred Stock then outstanding. The date on which shares are redeemed pursuant to this Part iv(a) of Section 4B is referred to herein as the "Series A Redemption Date." If on the Series A Redemption Date there shall be insufficient funds of the then Corporation legally available for such redemption, such amount of the funds as is legally available shall be used for the redemption requirement. Such redemption requirement shall be cumulative so that if such requirement shall not be fully discharged for any reason, finds legally available therefor shall immediately be applied thereto upon receipt by the Corporation until such requirement is discharged. The redemption price (the "Series A Redemption Price") for each outstanding shares share of Class D Series A Preferred Stock at to be redeemed pursuant to this Part (iv)(a) of Section 4B shall be the started value thereof sum (namely $1.50 per sharepayable in cash) of (x) the Series A Stated Value plus I v) an amount equal to all accrued and unpaid dividends thereon (cumulatively the "Redemption Amount") by either (i) a check equal to the Series A Redemption Amount or (ii) such number of share of common stock of the Corporation as determined by dividing the "market value" as calculated pursuant to Section 7 hereof of such common stock as of the date set by the Corporation for such redemption, into the Redemption AmountDate. (B) Notice of any redemption of the Class D Preferred Stock shall be mailed at least thirty, but no more than sixty, days prior to the date fixed for redemption to each holder of Class D Preferred Stock to be redeemed, at such holder's address as it appears on the books of the Corporation. In order to facilitate the redemption of the Class D Preferred Stock, the Board of Directors may fix a record date for the determination of holders of Class D Preferred Stock to be redeemed, or may cause the transfer book of the Corporation to be closed for the transfer of the Class D Preferred Stock, not more than sixty days prior to the date fixed for such redemption. (C) Upon any notice of redemption being sent to the holders of Class D Preferred Stock, notwithstanding that any certificates for such share shall not have been surrendered for cancellation, the shares represented thereby shall no longer be deemed outstanding, the rights to receive dividends thereon shall cease to accrue from and after the date of redemption designated in the notice of redemption and all rights of the holders of the shares of the Class D Preferred Stock called for redemption shall cease and terminate, excepting only the right to receive the redemption price therefor. (D) No fractional shares of common stock shall be issued upon redemption of any Class D Preferred Stock. Instead any fractional share of common stock which would otherwise be issuable upon redemption of any Class D Preferred Stock (or specified portions thereof), shall be rounded up to the next whole number of shares of common stock. (E) In the case of any certificates of Class D Preferred Stock which is redeemed in part only, upon such redemption the Corporation shall execute and deliver, at the expense of the Corporation, a new certificate or certificates of Class D Preferred Stock in an amount equal to those shares of the Class D Preferred Stock which has not been redeemed by the Corporation.