Common use of Warrant Exercise Clause in Contracts

Warrant Exercise. The rights represented by this Warrant may be exercised by the Holder by the surrender of this Warrant at any time on or after August 31, 1996, but in no event later than the Expiration Date, at the principal office of the Company, together with a duly executed Subscription in the form annexed as Exhibit "1" hereto, and by payment to the Company by certified check or bank draft of the Warrant Purchase Price (as adjusted as set forth in Article 2 below, if applicable) for such shares; provided, however, that if the issuance of the Underlying Common Stock upon the exercise of this Warrant requires registration under the Securities Act in the reasonable judgment of the Company or its counsel, this Warrant shall not be exercisable by the Holder and no subscription of or payment for shares will be acceptable by the Company prior to the effectiveness of a registration statement under the Securities Act of 1933, as amended (the "Securities Act"), covering the issuance of the Underlying Common Stock by the Company to the holder of this Warrant. The shares so purchased shall be deemed to be issued to the Holder as the record owner of such shares as of the close of business on the date on which this Warrant shall have been exercised as hereinabove provided.

Warrant Exercise. The rights represented by this Warrant may be exercised by the Holder by the surrender of this Warrant at any time on or after August 31, 1996the date of this Warrant, but in no event later than the Expiration Date, at the principal office of the Company, together with a duly executed Subscription in the form annexed as Exhibit "1" hereto, and by payment to the Company by certified check or bank draft of the Warrant Purchase Price (as adjusted as set forth in Article 2 below, if applicable) for such shares; provided, however, that if the issuance of the Underlying Common Stock upon the exercise of this Warrant requires registration under the Securities Act in the reasonable judgment of the Company or its counsel, this Warrant shall not be exercisable by the Holder and no subscription of or payment for shares will be acceptable by the Company prior to the effectiveness of a registration statement under the Securities Act of 1933, as amended (the "Securities Act"), covering the issuance of the Underlying Common Stock by the Company to the holder of this Warrant. The shares so purchased shall be deemed to be issued to the Holder as the record owner of such shares as of the close of business on the date on which this Warrant shall have been exercised as hereinabove provided.

Warrant Exercise. The rights represented by this Warrant may be exercised in whole or in part by the Holder by the surrender of this Warrant at any time on or after August 31, 1996the date of this Warrant, but in no event later than the Expiration Date, at the principal office of the Company, together with a duly executed Subscription in the form annexed as Exhibit "1" heretohereto (each a "Subscription Agreement"), and by payment to the Company by certified check or bank draft of the Warrant Purchase Price (as adjusted as set forth in Article 2 below, if applicable) for such shares; provided, however, that if the issuance of the Underlying Common Stock upon the exercise of this Warrant requires registration under the Securities Act in the reasonable judgment of the Company or its counsel, this Warrant shall not be exercisable by the Holder and no subscription of or payment for shares will be acceptable by the Company prior to the effectiveness of a registration statement under the Securities Act of 1933, as amended (the "Securities Act"), covering the issuance of the Underlying Common Stock by the Company to the holder of this Warrant. The shares so purchased shall be deemed to be issued to the Holder as the record owner of such shares as of the close of business on the date on which this Warrant shall have been exercised as hereinabove provided.