Common use of Right to Exercise Warrants Clause in Contracts

Right to Exercise Warrants. Each Warrant may be exercised from the date of this Agreement until five (5) years have elapsed from the date hereof (the “Expiration Date”). Each Warrant not exercised on or before the Expiration Date shall expire. Each Warrant shall entitle its holder to purchase from the Company the number of shares of common stock indicated in the Warrant (each such share being an “Exercise Share”) at the per share exercise price set forth on the Warrant Certificate, subject to adjustment as set forth below (the “Exercise Price”). The Company shall not be required to issue fractional shares of Common Stock upon the exercise of the Warrants or to deliver Warrant Certificates which evidence fractional shares of capital stock. In the event that a fraction of an Exercise Share would, except for the provisions of this paragraph 2, be issuable upon the exercise of a Warrant, the Company shall pay to the holder exercising the Warrant an amount in cash equal to such fraction multiplied by the current market value of the Exercise Share, or round this issuance of common stock up to nearest whole shares, at the Company’s discretion, or the holder may waive in writing receipt of such fractional share or the cash equivalent thereof. For purposes of this paragraph 2, the current market value shall be determined as follows:

Right to Exercise Warrants. Each Warrant may be exercised from the date of this Agreement until five 11:59 P.M. (5Eastern Standard Time) years have elapsed from on the date hereof that is ONE (1) year after the date of this Agreement (the “"Expiration Date”"). Each Warrant not exercised on or before the Expiration Date shall expire. Each Warrant shall entitle its holder to purchase from the Company the number one share of shares of common stock indicated in the Warrant Common Stock (each such share being an “Exercise Share”) at the per share an exercise price set forth on the Warrant Certificateof ONE CENT ($0.01) per share, subject to adjustment as set forth below (the “"Exercise Price”"). The Company shall not be required to issue fractional shares of Common Stock upon the exercise of the Warrants this Warrant or to deliver Warrant Certificates which evidence fractional shares of capital stock. In the event that a fraction of an Exercise Share would, except for the provisions of this paragraph 2, be issuable upon the exercise of a this Warrant, the Company shall pay to the holder Holder exercising the Warrant an amount in cash equal to such fraction multiplied by the current fair market value of the Exercise Share, or round this issuance of common stock up to nearest whole shares, at the Company’s discretion, or the holder may waive in writing receipt of such fractional share or the cash equivalent thereof. For purposes of this paragraph 2, the current market value shall be determined as follows:in good faith by the Board of Directors of the Company for similar securities, taking into account any recent valuations, sales, and the rights, preferences, and/or restrictions of resale on the securities.

Right to Exercise Warrants. Each The Tranche 1 Warrant may be exercised from the date of this Agreement until five (5) years 60 months have elapsed from the date hereof (the “Tranche 1 Expiration Date”) and the Tranche 2 Warrant may be exercised from the Tranche 2 Purchase Date until 60 months have elapsed from such date (the “Tranche 2 Expiration Date,” with each of the Tranche 1 Expiration Date and the Tranche 2 Expiration Date being an "Expiration Date"). Each Warrant not exercised on or before the its respective Expiration Date shall expire. Each Warrant shall entitle its holder to purchase from the Company the number of shares of common stock indicated in the Warrant (each such share being an “Exercise Share”) at the per share exercise price set forth on the Warrant Certificate, subject to adjustment as set forth below (the “Exercise Price”). The Company shall not be required to issue fractional shares of Common Stock upon the exercise of the Warrants or to deliver Warrant Certificates which evidence fractional shares of capital stock. In the event that a fraction of an Exercise Share would, except for the provisions of this paragraph 2, be issuable upon the exercise of a Warrant, the Company shall pay to the holder exercising the Warrant an amount in cash equal to such fraction multiplied by the current market value of the Exercise Share, or round this issuance of common stock up to nearest whole shares, at the Company’s discretion, or the holder may waive in writing receipt of such fractional share or the cash equivalent thereof. For purposes of this paragraph 2, the current market value shall be determined as follows: