Common use of Treatment of Fractional Shares Clause in Contracts

Treatment of Fractional Shares. The Company shall not be required to issue fractional shares of Common Stock on the conversion of the Holder Notes. If more than one Holder Note shall be presented for conversion by the Holder, the number of full shares of Common Stock which shall be issuable upon such conversion shall be computed on the basis of the aggregate number of whole shares of Common Stock issuable on conversion for all the Holder Notes so presented. If any fraction of a share of Common Stock would, except for the provisions of this paragraph, be issuable on the conversion of this Note or Notes so presented, the Company shall pay an amount in cash calculated by it to be equal to the market price of one share of Common Stock on the Interest Expiration Date multiplied by such fraction computed to the nearest whole cent.

Treatment of Fractional Shares. The Company shall not be required to issue fractional shares of Common Stock on the conversion of in exchange for the Holder NotesWarrants. If more than one Holder Note Warrant shall be presented for conversion exchange by the Holder, the number of full shares of Common Stock which shall be issuable upon such conversion exchange shall be computed on the basis of the aggregate number of whole shares of Common Stock issuable on conversion in exchange for all the Holder Notes Warrants so presented. If any fraction of a share of Common Stock would, except for the provisions of this paragraph, be issuable on the conversion of this Note or Notes so presentedin exchange for Holder Warrants, the Company shall pay to the Holder an amount in cash calculated by it to be equal to the market price of one share of Common Stock on the Interest Expiration Date last Business Day of the Exchange Period multiplied by such fraction computed to the nearest whole cent.

Treatment of Fractional Shares. The Company shall not be required to issue fractional shares of Common Stock on the conversion of in exchange for the Holder NotesWarrants. If more than one Holder Note Warrant shall be presented for conversion exchange by the Holder, the number of full shares of Common Stock which shall be issuable upon such conversion exchange shall be computed on the basis of the aggregate number of whole shares of Common Stock issuable on conversion in exchange for all the Holder Notes Warrants so presented. If any fraction of a share of Common Stock would, except for the provisions of this paragraph, be issuable on the conversion of this Note or Notes so presentedin exchange for Holder Warrants, the Company shall pay to the Holder an amount in cash calculated by it to be equal to the closing market price of one share of Common Stock on the Interest Expiration Date last Business Day of the Exchange Period multiplied by such fraction computed to the nearest whole cent.