Common use of The Warrants Clause in Contracts

The Warrants. The number of Warrants to be issued shall equal one-half of (i) the principal amount of the Convertible Debentures issued at Closing divided by (ii) the Market Price on the Trading Day immediately prior to the Closing Date. The exercise price of such Warrants shall be 115% of the closing bid price for the Common Stock on the Principal Market on the Trading Day immediately prior to the Closing Date. Two-thirds of the Warrants shall be immediately exercisable upon issuance. The remaining one-third of each Lender's Warrants shall only become exercisable if the Convertible Debentures have not been redeemed in accordance with their terms on or before the 100th day after the Closing Date.

The Warrants. The number of Warrants to be issued shall equal one-half of (i) the principal amount of the Convertible Debentures issued at Closing divided by (ii) the Market Price closing bid price on the Trading Day immediately prior to the Closing Date. The exercise price of such Warrants shall be 115% of the closing bid price for the Common Stock on the Principal Market on the Trading Day immediately prior to the Closing Date. Two-thirds of the each Lender's Warrants shall be immediately exercisable upon issuance. The remaining one-third of each Lender's Warrants shall be exercisable only become exercisable if the Convertible Debentures have not been redeemed in accordance with their terms on or before the 100th 120th day after the Closing Date.