Right to Convert Warrant. The Holder shall have the right to convert, in whole or in part, this Warrant (the "Conversion Right") at any time prior to the expiration of the Exercise Period, into shares of Common Stock in accordance with this Section 2.5. Upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of the Warrant Price) that number of shares of Common Stock equal to the quotient obtained by dividing (x) the value of the portion of this Warrant being converted at the time the Conversion Right is exercised (determined by subtracting the Warrant Price for the portion of this Warrant being converted (in effect immediately prior to the exercise of the Conversion Right) from the amount obtained by multiplying the number of shares of Common Stock issuable upon the whole or partial exercise of this Warrant, as the case may be, by the Market Price immediately prior to the exercise of the Conversion Right) by (y) the Market Price of one share of Common Stock immediately prior to the exercise of the Conversion Right. The Conversion Right may be exercised by the Holder, at any time or from time to time, prior to its expiration, on any business day by delivering a written notice (the "Conversion Notice") to the Company at the offices of the Company, exercising the Conversion Right and specifying (i) the total number of shares of Common Stock the Holder will purchase pursuant to the conversion and (ii) a place and date not less than two (2) nor more than twenty (20) Business Days from the date of the Subscription Notice for the closing of such purchase. At any closing under this Section 2.5, (i) the Holder will surrender this Warrant and (ii) the Company will deliver to the Holder a certificate or certificates for the number of shares of Common Stock issuable upon such conversion. If this Warrant shall have been converted only in part, the Company shall, at the time of delivery of said stock certificate or certificates, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the remaining shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical to this Warrant, or, at the request of the Holder, appropriate notation may be made on this Warrant and the same returned to the Holder. The Company shall pay all expenses, taxes and other charges payable in connection with the preparation, issue and delivery of such stock certificates and new Warrants, except th...
Right to Convert Warrant. The registered holder hereof shall have the right to convert this Warrant, by the delivery of this Warrant and the Notice of Conversion form annexed hereto as Attachment B duly executed to the office of the Company in Palo Alto, California (or such other office or agency of the Company as it may designate by notice in writing to the registered holder hereof at the address of such holder appearing on the books of the Company), as to all Shares that are Vested Shares at the time of such conversion, at any time before the close of business on the Termination Date, into the shares of Series C Preferred Stock as provided for in this Section 3. Upon exercise of this conversion right, the holder hereof shall be entitled to receive that number of Vested Shares equal to the quotient obtained by dividing [(A - B)(X)] by (A), where:
(A) = the Fair Market Value (as defined below) of one (1) Share on the date of conversion of this Warrant.
(B) = the Exercise Price for one (1) Share under this Warrant. *** Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with the Commission.
Right to Convert Warrant. The Holder shall have the right to convert this Warrant (the “Conversion Right”) at any time prior to the expiration of the Exercise Period, into shares of Common Stock in accordance with this Section 10; provided, however, that no such right shall exist if there is no reported bid and ask price for the Common Stock to enable the determination of the Closing Price (as defined below). Upon exercise of the Conversion Right, the Company will deliver to the Holder (without payment by the Holder of the Exercise Price) the number of shares of Common Stock equal to the quotient obtained by dividing (x) the value of the portion of this Warrant being converted at the time the Conversion Right is exercised (determined by subtracting the aggregate Exercise Price for the portion of the Warrant being converted (in effect immediately prior to the exercise of the Conversion Right) from the amount obtained by multiplying the number of shares of Common Stock issuable upon the exercise of the portion of this Warrant being converted by the Closing Price (as defined below) immediately prior to the exercise of the Conversion Right by (y) the Closing Price of one share of Common Stock immediately prior to the exercise of the Conversion Right.
Right to Convert Warrant. This Warrant may be converted into Shares in whole or in part, by Holders by the surrender of this Warrant (with the notice of conversion form attached hereto as Attachment B and the Investment Representation Statement attached hereto as Attachment C duly executed) at the principal office of the Company. Upon conversion of this Warrant, Holders shall be entitled to receive that number of Shares of the Company equal to (x) the number of shares of Common Stock specified by Holders in its Notice of Conversion up to the maximum number of shares of Common Stock subject to this Warrant (the "SPECIFIED NUMBER") less (y) the number of shares of Common Stock equal to the quotient obtained by dividing (A) the product of the Specified Number and the then existing Warrant Price by (B) the Fair Market Value, as defined below.
Right to Convert Warrant. In addition to the right to exercise the Financial Advisor's Warrant for cash pursuant to Section 4.1, Financial Advisor shall have the right to convert the Financial Advisor's Warrant (in whole but not in part) by the surrender of the Financial Advisor's Warrant (with the annexed Form of Election to Convert) at the office of the Company at any time during the term of the Financial Advisor's Warrant, into shares of Common Stock as provided for in this Section 4.2. Upon exercise of this conversion right, Financial Advisor shall be entitled to receive that number of shares of Common Stock of the Company equal to the quotient obtained by dividing [(A - B)(X)] by (A), where:
(A) = the Market Price (as defined in Section 9.3(e)) of one share of Common Stock on the date of conversion of the Financial Advisor's Warrant.
(B) = the Common Stock Exercise Price for one share of Common Stock under the Financial Advisor's Warrant.
(X) = the number of Shares issuable upon exercise of the Financial Advisor's Warrant. If the above calculation results in a negative number, then no shares of Common Stock shall be issued or issuable upon conversion of the Financial Advisor's Warrant. Upon conversion of the Financial Advisor's Warrant, the Financial Advisor shall be entitled to receive a certificate for the number of shares of Common Stock determined under this Section 4.2.
Right to Convert Warrant. The registered Holder hereof shall have the right (but not the obligation) to require the Company to convert this Warrant, in whole or in part, at any time and from time to time at or prior to the Expiration Time, by the surrender of this Warrant and the Notice of Conversion form attached hereto duly executed to the office of the Company at the address referred to in Section 1 hereof (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder hereof at the address of such Holder appearing on the books of the Company), into shares of Warrant Stock as provided in this Section 2. Upon exercise of this conversion right (and without payment by the Holder of the Exercise Price), the Holder hereof shall be entitled to receive that number of shares of Warrant Stock of the Company equal to the quotient obtained by dividing (A - B)(X) by (A), where: A = the Current Market Price (as defined in Section 10 below) of one share of Warrant Stock on the date of conversion of this Warrant;
Right to Convert Warrant. The holder hereof shall have the right to convert this Warrant, by the surrender of this Warrant and the Notice of Conversion form annexed hereto duly executed at the office of the Company in Redwood City, California (or such other office or agency of the Company as it may designate by notice in writing to the registered holder hereof at the address of such holder appearing on the books of the company), in whole or in part (but not as to a number of Shares less than eight percent (8%) of the number of Shares for which this Warrant was initially exercisable, as adjusted pursuant to Section 7, unless the aggregate number of Shares then remaining subject to this Warrant was initially exercisable, as adjusted pursuant to Section 7, in which case this Warrant may only be converted in full), and from time to time, at any time before the close of business on the last day of the exercise period provided for in Section 3 hereof, into shares of Common Stock as provided for in this Section 4(b). Upon exercise of this conversion right, the number of Shares issuable upon exercise of this Warrant will be reduced by the number of Shares subject to this Warrant as to which the conversion election is being made, and the holder hereof shall be entitled to receive that number of shares of Common Stock of the Company computed as follows: X = Y*(A-B) / A, where:
Right to Convert Warrant. The Holder shall have the right to convert, in whole or in part, this Warrant (the "Conversion Right") at any time prior to the Expiration Date, into Common Units in accordance with this Section 5. Upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of the purchase price) that number of Common Units equal to the quotient obtained by dividing (x) the value of the portion of this Warrant being converted at the time the Conversion Right is exercised (determined by subtracting the aggregate purchase price for the portion of this Warrant being converted (in effect immediately prior to the exercise of the Conversion Right) from the amount obtained by multiplying the number of Common Units issuable upon the whole or partial exercise of this Warrant, as the case may be, by the Closing Price (as defined below) of one Common Unit on the day immediately prior to the exercise of the Conversion Right) by (y) the Closing Price of one Common Unit on the day immediately prior to the exercise of the Conversion Right.
Right to Convert Warrant. Holder shall have the right to convert this Warrant, (in whole or in part), by the surrender of this Warrant (with the Notice of Conversion form attached hereto as ATTACHMENT B) at the office of the Company at any time during the term of this Warrant into Shares as provided for in this Section 6(b). Upon exercise of this conversion right, Holder shall be entitled to receive that number of Shares of the Company equal to (x) the number of shares of Common Stock specified by the Holder in its Notice of Conversion up to the maximum number of shares of Common Stock subject to this Warrant (the "SPECIFIED NUMBER") less (y) the number of shares of Common Stock equal to the quotient obtained by dividing (A) the product of the Specified Number and the existing Warrant Price by (B) the Fair Market Value, as defined below.
Right to Convert Warrant. In addition to the right to exercise the Placement Agent's Warrant for cash pursuant to Section 4.1, Placement Agent shall have the right to convert the Placement Agent's Warrant (in whole but not in part) by the surrender of the Placement Agent's Warrant (with the annexed Form of Election to Convert) at the office of the Company at any time during the term of the Placement Agent's Warrant, into shares of Common Stock as provided for in this Section 4.2. Upon exercise of this conversion right, Placement Agent shall be entitled to receive that number of shares of Common Stock of the Company equal to the quotient obtained by dividing [(A - B)(X)] by (A), where:
(A) = the Market Price (as defined in Section 9.3(e)) of one share of Common Stock on the date of conversion of the Placement Agent's Warrant.
(B) = the Common Stock Exercise Price for one share of Common Stock under the Placement Agent's Warrant.
(X) = the number of Shares issuable upon exercise of the Placement Agent's Warrant. If the above calculation results in a negative number, then no shares of Common Stock shall be issued or issuable upon conversion of the Placement Agent's Warrant. Upon conversion of the Placement Agent's Warrant, the Placement Agent shall be entitled to receive a certificate for the number of shares of Common Stock determined under this Section 4.2.
