Common use of Redemption for Exercise Deficiency Clause in Contracts

Redemption for Exercise Deficiency. In the event that the Company does not have a sufficient number of shares of Voting Common Stock available to satisfy the Company's obligations to any Purchaser upon receipt of a notice of exercise of a Purchaser Warrant or Convertible Note from an Investor, or is otherwise unable or unwilling for any reason (other than, prior to the earlier of November 15, 2000 or shareholder approval, the Nasdaq Cap) to issue Voting Common Stock as required by, and in accordance with the provisions of, the Purchaser Warrants, the Convertible Notes or the Note Purchase Agreement (each, an "EXERCISE DEFICIENCY"), then: (A) The Company shall provide to each Purchaser a Monthly Delay Payment for each 30 day period or portion thereof (appropriately prorated) following the Exercise Deficiency, on the terms set forth in Section 2.7(b)(i)(C) above. (B) At any time five (5) days after the commencement of the running of the first 30-day period described above in clause (A) of this paragraph (iv) and until the Exercise Deficiency is cured by the Company, at the request of any Purchaser, the Company promptly shall purchase from such Purchaser, and on the terms set forth in Section 2.7(b)(i)(C) above, the Convertible Notes in each case as a result of the Exercise Deficiency at the Premium Redemption Price, on the terms set forth in Section 2.7(b)(i)(C) above.

Redemption for Exercise Deficiency. In the event that the Company does not have a sufficient number of shares of Voting Common Stock available to satisfy the Company's obligations to any Purchaser Holder upon receipt of a notice of exercise of a Purchaser Warrant or Convertible Note from an Investor, or is otherwise unable or unwilling for any reason (other than, prior to the earlier of November 15, 2000 or shareholder approval, the Nasdaq Cap) to issue Voting Common Stock as required by, and in accordance with the provisions of, the Purchaser Warrants, the Convertible Notes Warrants or the Note Purchase Investment Agreement (each, an "EXERCISE DEFICIENCY"), then: (A) The Company shall provide to each Purchaser Holder a Monthly Delay Payment for each 30 day period or portion thereof (appropriately prorated) following the Exercise Deficiency, on the terms set forth in Section 2.7(b)(i)(C2(b)(i)(B) above. (B) At any time five (5) days after the commencement of the running of the first 30-day period described above in clause (A) of this paragraph (iv) and until the Exercise Deficiency is cured by the Company), at the request of any PurchaserHolder, the Company promptly shall purchase from such PurchaserHolder, and on the terms set forth in Section 2.7(b)(i)(C2(b)(i)(B) above, the Convertible Notes outstanding Warrants to the extent required to be issued but not issuable, in each case as a result of the Exercise Deficiency at the Premium Mandatory Redemption Price, on the terms set forth in Section 2.7(b)(i)(C2(b)(i)(B) above. (C) The Holder shall have the right to withdraw any request for redemption hereunder at any time prior to its receipt of the Mandatory Redemption Price.

Redemption for Exercise Deficiency. In the event that the Company does not have a sufficient number of shares of Voting Common Stock available to satisfy the Company's obligations to any Purchaser Holder upon receipt of a notice of exercise of a Purchaser Warrant or Convertible Note Additional Investment Notice from an Investor, or is otherwise unable or unwilling for any reason (other than, prior to the earlier of November 15, 2000 or shareholder approval, the Nasdaq Cap) to issue Voting Common Stock as required by, and in accordance with by the provisions of, the Purchaser Warrants, the Convertible Notes Warrants or the Note Purchase Agreement (each, an "EXERCISE DEFICIENCYExercise Deficiency"), then: (A) The Company shall provide to each Purchaser Holder a Monthly Delay Payment for each 30 day period or portion thereof (appropriately prorated) following the Exercise Deficiency, on the terms set forth in Section 2.7(b)(i)(C2(b)(i)(B) above. (B) At any time five (5) days after the commencement of the running of the first 30-day period described above in clause (A) of this paragraph (iv) and until the Exercise Deficiency is cured by the Company), at the request of any PurchaserHolder, the Company promptly shall purchase from such PurchaserHolder, and on the terms set forth in Section 2.7(b)(i)(C2(b)(i)(B) above, the Convertible Notes outstanding Warrants to the extent required to be issued but not issuable, in each case as a result of the Exercise Deficiency at a price equal to the Premium Redemption Price, on excess of the terms set forth in Section 2.7(b)(i)(C) aboveMandatory Repurchase Price as applied to the applicable Warrant Shares over the applicable aggregate Warrant exercise price.