Right to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at any time and from time to time during the period beginning on the Issue Date and ending on the Expiration Date as to all or any part of the shares of Common Stock covered hereby (the “Warrant Shares”). The “Exercise Price” for each Warrant Share purchased by the Holder upon the exercise of this Warrant shall be $2.50, subject to adjustment for the events specified in Section 6 below.
Right to Exercise; Exercise Price. The Holder shall have the --------------------------------- right to exercise this Warrant at any time and from time to time during the period beginning on the Issue Date and ending on the Expiration Date as to all or any part of the shares of Common Stock covered hereby (the "Warrant ------- Shares"). The "Exercise Price" for each Warrant Share purchased by the ------ -------------- Holder upon the exercise of this Warrant shall be equal to $2.749, subject to adjustment for the events specified in Section 4 below.
Right to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at any time and from time to time during the period beginning on the date that is six (6) months from the Issue Date (the “Commencement Date”) and ending on the fifth (5th) anniversary of the Commencement Date (the “Expiration Date”); provided, however, that if the Expiration Date occurs on a date that is not a Business Day, the immediately following Business Day shall be deemed to be the Expiration Date. The Holder may pay the Exercise Price in either of the following forms or, at the election of the Holder, a combination thereof:
(i) through a cash exercise (a “Cash Exercise”) by delivering immediately available funds, or
(ii) through a cashless exercise (a “Cashless Exercise”) by noting on the Exercise Notice that the Holder wishes to effect a Cashless Exercise, in which case the Company shall issue to the Holder a number of Warrant Shares determined as follows: X = Y x (A-B)/A where: X = the number of Warrant Shares to be issued to the Holder; Y = the number of Warrant Shares with respect to which this Warrant is being exercised; A = the Market Price (as defined below) as of the Exercise Date; and B = the Exercise Price.
Right to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at any time and from time to time during the period beginning on the date that is six (6) months from the Issue Date (the “Commencement Date”) and ending on the fifth (5th) anniversary of the Commencement Date (the “Expiration Date”); provided, however, that if the Expiration Date occurs on a date that is not a Business Day, the immediately following Business Day shall be deemed to be the Expiration Date. The Holder may pay the Exercise Price in either of the following forms or, at the election of the Holder, a combination thereof:
(i) through a cash exercise (a “Cash Exercise”) by delivering immediately available funds, or
(ii) through a cashless exercise (a “Cashless Exercise”) by noting on the Exercise Notice that the Holder wishes to effect a Cashless Exercise, in which case the Company shall issue to the Holder a number of Warrant Shares determined as follows:
Right to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at any time and from time to time during the period beginning on the date that is six (6) months from the Issue Date (the “Commencement Date”) and ending on the fourth (4th) anniversary of the Commencement Date (the “Expiration Date”); provided, however, in the event this Warrant on the Issue Date is subject to the approval of the Company’s shareholders by reason of any federal or state law or regulation or the rules of the Principal Market as of the Issue Date, the Commencement Date shall be automatically deferred unless and until such stockholder approval is obtained and upon obtaining such stockholder approval, the Commencement Date shall automatically commence on the date of such shareholder approval even if such date is prior to the six-month anniversary of the Issue Date (it being understood and agreed that the Company shall forthwith give written notice to the Holder of any such deferral and commencement in accordance with Section 11 hereof); and further provided, however, that if the Expiration Date occurs on a date that is not a Business Day, the immediately following Business Day shall be deemed to be the Expiration Date. Notwithstanding anything to the contrary set forth herein, the Holder may not exercise this Warrant and the Company shall not be required to comply with any Exercise Notice unless and until the Holder and the Company, as applicable, shall have obtained any applicable Regulatory Approvals for issuance of the Warrant Shares. The Company agrees to use reasonable best efforts to assist the Holder in seeking such Regulatory Approvals. The Holder may pay the Exercise Price in either of the following forms or, at the election of the Holder, a combination thereof:
(i) through a cash exercise (a “Cash Exercise”) by delivering immediately available funds, or
(ii) through a cashless exercise (a “Cashless Exercise”) by noting on the Exercise Notice that the Holder wishes to effect a Cashless Exercise, in which case the Company shall issue to the Holder a number of Warrant Shares determined as follows: X = Y x (A-B)/A where: X = the number of Warrant Shares to be issued to the Holder; Y = the number of Warrant Shares with respect to which this Warrant is being exercised; A = the Market Price (as defined below) as of the Exercise Date; and B = the Exercise Price.
Right to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at any time and from time to time during the period beginning on the Exercise Commencement Date and ending on the Expiration Date as to all or any part of the shares of Common Stock covered
Right to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at any time and from time to time during the period beginning on the Issue Date and ending on the Expiration Date as to all or any part of the shares of Common Stock covered hereby (the "Warrant Shares"). The
Right to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at any time and from time to time up to and including the Expiration Date as to all or any part of the shares of Common Stock covered hereby (the "Warrant Shares"). The "Exercise Price" payable by the Holder in connection with the exercise of this Warrant shall be equal to 115% of the average of the Closing Sale Prices (as defined below) for the Common Stock on the five (5) Trading Days (as defined below) occurring immediately prior to (but not including) the Issue Date. 2 "Trading Day" shall mean any day on which the Common Stock is traded for any period on the Nasdaq National Market or on the principal securities exchange or market on which the Common Stock is then traded. "Closing Sale Price" means, with respect to a security, the closing sale price of such security on the Nasdaq National Market or on the principal securities exchange or market where such security is listed or traded as reported by Bloomberg Financial Markets or, if Bloomberg Financial Markets is not then reporting closing sale prices of such security, a comparable reporting service of national reputation selected by the Company and reasonably acceptable to the Holders (collectively, "Bloomberg"), or if the foregoing does not apply, the last reported sale price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg, or, if no sale price is reported for such security by Bloomberg, the average of the sale prices of all market makers for such security as reported in the "pink sheets" by the National Quotation Bureau, Inc. If the Closing Sale Price cannot be calculated for such security on such date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as reasonably determined by an investment banking firm selected by the Holder (which may be the Holder or an affiliate thereof) and reasonably acceptable to the Company, with the costs of such appraisal to be borne by the Company.
Right to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at any time and from time to time during the period beginning on the Issue Date and ending on the Expiration Date as to all or any part of the shares of Common Stock covered hereby (the "WARRANT SHARES"). The "EXERCISE PRICE" for each Warrant Share purchased by the Holder upon the exercise of this Warrant shall be equal to $3.00, subject to adjustment for the events specified in Section 4 below.
Right to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at any time and from time to time during the period beginning on the Issue Date and ending on the Expiration Date as to all or any part of the shares of Common Stock covered hereby (the "Warrant Shares"). The -------------- "Exercise Price" payable by the Holder in connection with the exercise of this -------------- Warrant shall be equal to six U.S. dollars ($6.00) per share of Common Stock; provided, however, that on the one-year anniversary of the Issue Date, the -------- ------- Exercise Price shall be reset to seventy-five (75%) of the Market Price. If the Market Price on that date is less than eight U.S. dollars ($8.00).
