Common use of Warrant Exercise Clause in Contracts

Warrant Exercise. (a) The rights represented by the Warrant are exercisable from time-to-time in whole or in part by the Holder by giving notice of intent to exercise to the Company. The Holder shall make payment in cash or by check for the purchase price of the number of shares to be purchased. (b) The Warrant shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise as provided above, and the person entitled to receive the shares issuable upon such exercise shall be treated for all purposes as the holder of record of such shares as of the close of business on such date. As promptly as practicable on or after such date and in any event within ten (10) days thereafter, the Company at its expense shall issue and deliver to the person or persons entitled to receive the same a certificate or certificates for the number of shares issuable upon such exercise.