Common use of Repurchase Obligation of the Company Clause in Contracts

Repurchase Obligation of the Company. If at any time there occurs a Change of Control (as defined in the Amended and Restated Note Agreement), then the Company shall give to the holder of this Warrant notice of such Change of Control within 5 days of its occurrence. Not later than 60 days (the "Put Election Period") after such notice by the Company, the holder of this Warrant (or any new Warrant then held by such holder representing the number of shares with respect to which this Warrant shall not have been exercised) may, by written notice to the Company, elect to sell to the Company, and the Company shall purchase from such holder, this Warrant, in whole, at an aggregate cash price (the "Put Price") equal to the greater of (x) the Net Warrant Market Price (as defined below) and (y) $1,500,000. The holder shall present this Warrant to the Company at its office referred to in Paragraph 1 hereof on or before the 30th day following the expiration of the Put Election Period, and upon surrender thereof shall be entitled to receive the cash price to which such holder is entitled, by wire transfer of immediately available funds to an account designated by the holder hereof or by delivery to such holder of a certified or official bank check in New York Clearing House Funds payable to the order of such holder. As used in this Paragraph 2(b), the term "Net Warrant Market Price" shall mean an amount equal to the product of (x) the number of shares with respect to which this Warrant shall not have been exercised, multiplied by (y) the difference between the market price per Warrant Share (determined as provided in Paragraph 4(e) hereof) on the date of the Put Notice and the Exercise Price then in effect.

Repurchase Obligation of the Company. If at any time there occurs a Change of Control (as defined in the Amended and Restated Note Agreement), then the Company shall give to the holder of this Warrant notice of such Change of Control within 5 days of its occurrence. Not later than 60 days (the "Put Election Period") after such notice by the Company, the holder of this Warrant (or any new Warrant then held by such holder representing the number of shares with respect to which this Warrant shall not have been exercised) may, by written notice to the Company, elect to sell to the Company, and the Company shall purchase from such holder, this Warrant, in whole, at an aggregate cash price (the "Put Price") equal to the greater of (x) the Net Warrant Market Price (as defined below) and (y) $1,500,000240,000. The holder shall present this Warrant to the Company at its office referred to in Paragraph 1 hereof on or before the 30th day following the expiration of the Put Election Period, and upon surrender thereof shall be entitled to receive the cash price to which such holder is entitled, by wire transfer of immediately available funds to an account designated by the holder hereof or by delivery to such holder of a certified or official bank check in New York Clearing House Funds payable to the order of such holder. As used in this Paragraph 2(b), the term "Net Warrant Market Price" shall mean an amount equal to the product of (x) the number of shares with respect to which this Warrant shall not have been exercised, multiplied by (y) the difference between the market price per Warrant Share (determined as provided in Paragraph 4(e) hereof) on the date of the Put Notice and the Exercise Price then in effect.

Repurchase Obligation of the Company. If at any time there occurs a Change of Control (as defined in the Amended and Restated Note Agreement), then the Company shall give to the holder of this Warrant notice of such Change of Control within 5 days of its occurrence. Not later than 60 days (the "Put Election Period") after such notice by the Company, the holder of this Warrant (or any new Warrant then held by such holder representing the number of shares with respect to which this Warrant shall not have been exercised) may, by written notice to the Company, elect to sell to the Company, and the Company shall purchase from such holder, this Warrant, in whole, at an aggregate cash price (the "Put Price") equal to the greater of (x) the Net Warrant Market Price (as defined below) and (y) $1,500,0001,860,000. The holder shall present this Warrant to the Company at its office referred to in Paragraph 1 hereof on or before the 30th day following the expiration of the Put Election Period, and upon surrender thereof shall be entitled to receive the cash price to which such holder is entitled, by wire transfer of immediately available funds to an account designated by the holder hereof or by delivery to such holder of a certified or official bank check in New York Clearing House Funds payable to the order of such holder. As used in this Paragraph 2(b), the term "Net Warrant Market Price" shall mean an amount equal to the product of (x) the number of shares with respect to which this Warrant shall not have been exercised, multiplied by (y) the difference between the market price per Warrant Share (determined as provided in Paragraph 4(e) hereof) on the date of the Put Notice and the Exercise Price then in effect.

Repurchase Obligation of the Company. If at any time there occurs a Change of Control (as defined in the Amended and Restated Note Agreement), then the Company shall give to the holder of this Warrant notice of such Change of Control within 5 days of its occurrence. Not later than 60 days (the "Put Election Period") after such notice by the Company, the holder of this Warrant (or any new Warrant then held by such holder representing the number of shares with respect to which this Warrant shall not have been exercised) may, by be written notice to the Company, elect to sell to the Company, and the Company shall purchase from such holder, this Warrant, in whole, at an aggregate cash price (the "Put Price") equal to the greater of (x) the Net Warrant Market Price (as defined below) and (y) $1,500,000360,000. The holder shall present this Warrant to the Company at its office referred to in Paragraph 1 hereof on or before the 30th day following the expiration of the Put Election Period, and upon surrender thereof shall be entitled to receive the cash price to which such holder is entitled, by wire transfer of immediately available funds to an account designated by the holder hereof or by delivery to such holder of a certified or official bank check in New York Clearing House Funds payable to the order of such holder. As used in this Paragraph 2(b), the term "Net Warrant Market Price" shall mean an amount equal to the product of (x) the number of shares with respect to which this Warrant shall not have been exercised, multiplied by (y) the difference between the market price per Warrant Share (determined as provided in Paragraph 4(e) hereof) on the date of the Put Notice and the Exercise Price then in effect.

Repurchase Obligation of the Company. If at any time there occurs a Change of Control (as defined in the Amended and Restated Note Agreement), then the Company shall give to the holder of this Warrant notice of such Change of Control within 5 days of its occurrence. Not later than 60 days (the "Put Election Period") after such notice by the Company, the holder of this Warrant (or any new Warrant then held by such holder representing the number of shares with respect to which this Warrant shall not have been exercised) may, by written notice to the Company, elect to sell to the Company, and the Company shall purchase from such holder, this Warrant, in whole, at an aggregate cash price (the "Put Price") equal to the greater of (x) the Net Warrant Market Price (as defined below) and (y) $1,500,000540,000. The holder shall present this Warrant to the Company at its office referred to in Paragraph 1 hereof on or before the 30th day following the expiration of the Put Election Period, and upon surrender thereof shall be entitled to receive the cash price to which such holder is entitled, by wire transfer of immediately available funds to an account designated by the holder hereof or by delivery to such holder of a certified or official bank check in New York Clearing House Funds payable to the order of such holder. As used in this Paragraph 2(b), the term "Net Warrant Market Price" shall mean an amount equal to the product of (x) the number of shares with respect to which this Warrant shall not have been exercised, multiplied by (y) the difference between the market price per Warrant Share (determined as provided in Paragraph 4(e) hereof) on the date of the Put Notice and the Exercise Price then in effect.