Common use of Repurchase of Warrants Clause in Contracts

Repurchase of Warrants. In the event the Company shall fail ---------------------- to file the registration statement required by Section 7(b), or such registration statement shall not be declared effective within 150 days of the written request, then the Underwriter may require the Company to purchase, on the 151st day, the Underwriter's Warrants at a price equal to the difference between the Exercise Price and the market price per share of Common Stock as averaged over the mean between the "bid and "asked" price as of the close of each business day during the two-week period immediately preceding the 151st day; provided, however, that at the time of such purchase the average market price shall be more than $_____and further provided that the Company's net worth, at such time, is at least five (5) times the amount of the aggregate purchase price for such Underwriter's Warrants to be purchased.

Repurchase of Warrants. In the event the Company shall fail ---------------------- to file the registration statement required by Section 7(b), or such registration statement shall not be declared effective within 150 days of the written request, then the Underwriter may require the Company to purchase, on the 151st day, the Underwriter's Warrants at a price equal to the difference between the Exercise Price and the market price per share of Common Stock as averaged over the mean between the "bid and "asked" price as of the close of each business day during the two-week period immediately preceding the 151st day; provided, however, that at the time of such purchase the average market price shall be more than $_____and 9.90 further provided that the Company's net worth, at such time, is at least five three (53) times the amount of the aggregate purchase price for such Underwriter's Warrants to be purchased.

Repurchase of Warrants. In the event the ---------------------- Company shall fail ---------------------- to file the registration statement required by Section 7(b), or such registration statement shall not be declared effective within 150 days of the written request, then the Underwriter Under writer may require the Company to purchase, on the 151st day, the Underwriter's Warrants at a price equal to the difference between the Exercise Price and the market price per share of Common Stock as averaged over the mean between the "bid and "asked" price as of the close of each business day during the two-week period immediately preceding the 151st day; provided, however, that at the time of such purchase the average market price shall be more than $_____and further provided that the Company's net worth, at such time, is at least five (5) times the amount of the aggregate purchase price for such Underwriter's Warrants to be purchased.

Repurchase of Warrants. In the event the Company shall fail ---------------------- to file the registration statement required by Section 7(b), or such registration statement shall not be declared effective within 150 days of the written request, then the Underwriter may require the Company to purchase, on the 151st day, the Underwriter's Warrants at a price equal to the difference between the Exercise Price and the market price per share of Common Stock as averaged over the mean between the "bid and "asked" price as of the close of each business day during the two-week period immediately preceding the 151st day; provided, however, that at the time of such purchase the average market price shall be more than $_____and 7.20 further provided that the Company's net worth, at such time, is at least five three (53) times the amount of the aggregate purchase price for such Underwriter's Warrants to be purchased.