Common use of TERM OF THE WARRANT Clause in Contracts

TERM OF THE WARRANT. Subject to the terms of this Agreement, Holder shall have the right, which right may be exercised in whole or in part, from time to time, beginning on the Issuance Date and ending on October 31, 2013 (the “Expiration Date”), to purchase from the Company Warrant Shares. If the last day for the exercise of the Warrant is not a day (a “Business Day”) other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to close, then the Warrant may be exercised on the next succeeding Business Day. Notwithstanding the foregoing, in no event shall Holder be entitled to exercise any portion of the Warrant to the extent that, after such exercise, the sum of (1) the number of shares of Common Stock beneficially owned by the Holder, and (2) the number of shares of Common Stock issuable upon the full or partial exercise of the Warrant with respect to which the determination of this sentence is being made, would result in beneficial ownership by Holder of more than 4.99% of the outstanding shares of Common Stock (after taking into account the shares to be issued to Holder upon such exercise). For purposes of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”) ”), and Rule 13d-3 promulgated thereunder. The Holder further agrees that if the Holder transfers or assigns any of the Warrant to any affiliate of such Holder, such transfer or assignment shall be made subject to the transferee’s or assignee’s specific agreement to be bound by the provisions of this Section.

TERM OF THE WARRANT. Subject to the terms of this Agreement, Holder shall have the right, which right may be exercised in whole or in part, from time to time, beginning on the Issuance Date and ending on October 31January 5, 2013 2009 (the “"Expiration Date”"), to purchase from the Company Warrant Shares. If the last day for the exercise of the Warrant is not a day (a “"Business Day”") other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to close, then the Warrant may be exercised on the next succeeding Business Day. Notwithstanding the foregoing, unless waived by the Company in writing, in no event shall Holder be entitled to exercise any portion of the Warrant to the extent that, after such exercise, the sum of (1) the number of shares of Common Stock beneficially owned by the Holder, and (2) the number of shares of Common Stock issuable upon the full or partial exercise of the Warrant with respect to which the determination of this sentence is being made, would result in beneficial ownership by Holder of more than 4.99% of the outstanding shares of Common Stock (after taking into account the shares to be issued to Holder upon such exercise). For purposes of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “"1934 Act”") ”"), and Rule 13d-3 promulgated thereunder. The Holder further agrees that if the Holder transfers or assigns any of the Warrant to any affiliate of such Holder, such transfer or assignment shall be made subject to the transferee’s 's or assignee’s 's specific agreement to be bound by the provisions of this Section.

TERM OF THE WARRANT. Subject to the terms of this Agreement, Holder shall have the right, which right may be exercised in whole or in part, from time to time, beginning on the Issuance Date and ending on October 31November 1, 2013 2010 (the “"Expiration Date”"), to purchase from the Company Warrant Shares. If the last day for the exercise of the Warrant is not a day (a “"Business Day”") other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to close, then the Warrant may be exercised on the next succeeding Business Day. Notwithstanding the foregoing, unless waived by the Company in writing, in no event shall Holder be entitled to exercise any portion of the Warrant to the extent that, after such exercise, the sum of (1) the number of shares of Common Stock beneficially owned by the Holder, and (2) the number of shares of Common Stock issuable upon the full or partial exercise of the Warrant with respect to which the determination of this sentence is being made, would result in beneficial ownership by Holder of more than 4.99% of the outstanding shares of Common Stock (after taking into account the shares to be issued to Holder upon such exercise). For purposes of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “"1934 Act”") ”"), and Rule 13d-3 promulgated thereunder. The Holder further agrees that if the Holder transfers or assigns any of the Warrant to any affiliate of such Holder, such transfer or assignment shall be made subject to the transferee’s 's or assignee’s 's specific agreement to be bound by the provisions of this Section.

TERM OF THE WARRANT. Subject to the terms of this Agreement, Holder shall have the right, which right may be exercised in whole or in part, from time to time, beginning on the earlier of the six month anniversary of the Issuance Date or the date that a registration statement registering the Warrant Shares filed with the SEC has become effective, and ending on October 31February 28, 2013 2009 (the “"Expiration Date”"), to purchase from the Company Warrant Shares. If the last day for the exercise of the Warrant is not a day (a “"Business Day”") other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to close, then the Warrant may be exercised on the next succeeding Business Day. Notwithstanding the foregoing, in no event shall Holder be entitled to exercise any portion of the Warrant to the extent that, after such exercise, the sum of (1) the number of shares of Common Stock beneficially owned by the Holder, and (2) the number of shares of Common Stock issuable upon the full or partial exercise of the Warrant with respect to which the determination of this sentence is being made, would result in beneficial ownership by Holder of more than 4.99% of the outstanding shares of Common Stock (after taking into account the shares to be issued to Holder upon such exercise). For purposes of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “"1934 Act”") ”"), and Rule 13d-3 promulgated thereunder. The Holder further agrees that if the Holder transfers or assigns any of the Warrant to any affiliate of such Holder, such transfer or assignment shall be made subject to the transferee’s 's or assignee’s 's specific agreement to be bound by the provisions of this Section.

TERM OF THE WARRANT. Subject to the terms of this Agreement, Holder shall have the right, which right may be exercised in whole or in part, from time to time, beginning on the Issuance Date and ending on October 31July 1, 2013 2007 (the “Expiration Date”), to purchase from the Company Warrant Shares. If the last day for the exercise of the Warrant is not a day (a “Business Day”) other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to close, then the Warrant may be exercised on the next succeeding Business Day. Notwithstanding the foregoing, in no event shall Holder be entitled to exercise any portion of the Warrant to the extent that, after such exercise, the sum of (1) the number of shares of Common Stock beneficially owned by the Holder, and (2) the number of shares of Common Stock issuable upon the full or partial exercise of the Warrant with respect to which the determination of this sentence is being made, would result in beneficial ownership by Holder of more than 4.99% of the outstanding shares of Common Stock (after taking into account the shares to be issued to Holder upon such exercise). For purposes of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”) ”“), and Rule 13d-3 promulgated thereunder. The Holder further agrees that if the Holder transfers or assigns any of the Warrant to any affiliate of such Holder, such transfer or assignment shall be made subject to the transferee’s or assignee’s specific agreement to be bound by the provisions of this Section. This provision will be waived upon the closing of a merger or other acquisition of the Company or a substantial portion of its assets.