Common use of Redemption of Warrant Clause in Contracts

Redemption of Warrant. The Company may redeem all or any portion of this Warrant outstanding and unexercised at a redemption price of $.01 for each Share purchasable upon exercise hereof at the time of such redemption; provided that: (a) Not less than thirty (30) days prior written notice has been provided to the Holder by the Company of the Company's intent to redeem. (b) The average closing price of the Company's Common Stock as listed on the NASDAQ Capital Market, subject to Section 6 herein, for the fifteen (15) trading days prior to the written notice set forth in this Section 9(a) has exceeded $2.50 per Share; and (c) The Company limits its redemption to 25% of Holder's total purchasable shares held by the Warrant per month ("Redeemable Shares"). If any portion of this Warrant is redeemed in accordance with this Section 9, the Holder shall have the right to exercise this Warrant with respect to the Redeemable Shares until the close of business on the date next preceding the date fixed for redemption. On or after the date fixed for redemption, the Holder shall have no rights with respect to this Warrant to the extent redeemed, except the right to receive $0.01 per Share of the Redeemable Shares upon surrender of this Warrant for redemption.