Right to Convert Warrant into Stock. (i) As an alternative to payment of the Exercise Price as set forth in Section 2(b) of this Warrant, the Warrantholder shall have the right at any time and from time to time to convert this Warrant into shares of Stock (the "Conversion Right"). Upon exercise of the Conversion Right, the Company shall deliver to the Warrantholder (without payment by the Warrantholder of any Exercise Price or of any other cash or other consideration) that number of Shares of Stock equal to the quotient obtained by dividing (x) the value of this Warrant at the time the Conversion Right is exercised (determined by subtracting the aggregate Exercise Price in effect immediately prior to the exercise of the Conversion Right from the aggregate fair market value of the Shares of Stock issuable upon exercise of this Warrant immediately prior to the exercise of the Conversion Right) by (y) the fair market value of one Share of Stock immediately prior to the exercise of the Conversion Right. For purposes hereof, the fair market value of one Share of Stock shall be the greater of a price per Share of Stock equal to the initial Exercise Price or the current market value of the Stock. (ii) The current market value of one Share of Stock shall be determined as follows:
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Samples: Warrant Agreement (Youcentric Inc)
