Warrant Period; Exercise of Warrant. 1.1 This Warrant may be exercised in whole at any time commencing 9:00 a.m., New York City time, on any business day on or after the issuance thereof and continuing up to the third anniversary thereof (the "Warrant Period"), by the surrender of this Warrant (with a duly executed exercise form in the form attached at the end hereof as Exhibit A) at the principal office of the Company, together with the proper payment of the Per Share Warrant Price times the number of Warrant Shares.
1.2 Upon such surrender of this Warrant, the Company will: a) issue a certificate or certificates in the name of Holder for the Warrant Shares to which the Holder shall be entitled and (b) deliver the other securities and properties receivable upon the exercise of this Warrant, pursuant to the provisions of this Warrant.
1.3 Any stamp tax attributable to the issuance of the Shares shall be borne solely by Holder.
1.4 Unless there is an effective registration statement under the Securities Act of 1933, as amended, (the "Securities Act") covering the resale of the Warrant Shares, at the option of the Holder, in lieu of exercising this Warrant in the manner provided in Subsection 1.1 above, the Holder may elect, pursuant to the terms of this Subsection 1.1, to receive Shares equal to the value of this Warrant (taking into account only that portion of this Warrant that is then exercisable) by surrender of this Warrant at the principal office of the Company together with notice of such election in which event the Company shall issue to the Holder a number of Shares using the following formula: X = Y(A-B) ------ A where X = The number of Shares to be issued to the Holder. Y = The number of Shares purchasable under this Warrant (at the date of such calculation).
A = The fair market value of one Share (at the date of such calculation).
B = The Per Share Warrant
Warrant Period; Exercise of Warrant. (a) This Warrant may be exercised in whole at any time, or in part from time to time, beginning on the date hereof until the Expiration Date (the "Warrant Period"), by the surrender of this Warrant (with a duly executed exercise form in the form attached at the end hereof as Exhibit A), along with the Exercise Certificate or the Exercise Opinion (each as defined in Section 1.1(b) below), at the principal office of the Company, set forth above, together with proper payment of the Exercise Price multiplied by the number of Warrant Shares for which the Warrant is being exercised. Payment for Warrant Shares shall be made by certified or official bank check or checks, payable to the order of the Company or by wire transfer to an account to be designated in writing by the Company. Payments shall be made in United States dollars.
(b) In addition to the method of exercise set forth in Section 1.1(a) hereof, each Holder shall have the right to exercise the Warrant in whole or in part and, upon such exercise, to receive for each Warrant surrendered a fraction of one Ordinary Share as shall be determined by the formula set forth below, with no cash payment required other than a payment of Equivalent Par Value (as defined below) for each Ordinary Share issued upon the exercise of the Warrant in accordance with this Section 1.1(b). The number of Ordinary Shares the Holder shall be entitled to receive shall upon the exercise of the Warrant and surrender of the related warrant certificate in accordance with this Section 1.1(b) shall be equal to the product of (x) the total number of Ordinary Shares exchangeable for the Warrants being exercised (assuming exercise in accordance with Section 1.1(a)) multiplied by (y) a fraction, the numerator of which is the aggregate Market Price (as defined below) of such Ordinary Shares plus Equivalent Par Value less the aggregate Exercise Price therefore, and the denominator of which is such aggregate Market Price. Upon exercise of the Warrants pursuant to this Section 1.1(b), the warrants so exercised shall no longer be exercisable. Solely for the purpose of this paragraph, "Equivalent Par Value" shall be an amount in U.S. Dollars equal to NIS 1.0 based on the Representative Rate of the U.S. Dollar as published by the Bank of Israel on the date of payment. Solely for the purposes of this paragraph, Market Price shall be calculated as the average of the five trading days immediately preceding the date on which the form of exercise attac...
Warrant Period; Exercise of Warrant. 1.1 This Warrant may be exercised in whole or in part at any time commencing 9:00 a.m., New York City time, on any business day on or after the date on which the Company's registration statement that is filed under the Securities Act of 1933, as amended, in connection with the Public Offering has been declared effective and continuing up to the fourth anniversary thereof (the "Warrant Period"), by the surrender of this Warrant (with a duly executed exercise form in the form attached at the end hereof as Exhibit A) at the principal office of the Company, together with the proper payment of the Per Share Warrant Price times the number of Warrant Shares.
1.2 Upon such surrender of this Warrant, the Company will: a) issue a certificate or certificates in the name of Holder for the Warrant Shares to which the Holder shall be entitled and (b) deliver the other securities and properties receivable upon the exercise of this Warrant, pursuant to the provisions of this Warrant.
1.3 Any stamp tax attributable to the issuance of the Shares shall be borne solely by Holder.
Warrant Period; Exercise of Warrant. 1.1 This Warrant may be exercised in whole or part at any time commencing 9:00 a.m., New York City time, on any business day on or after the issuance thereof and continuing up to the fourth anniversary thereof (the "Warrant Period"), by the surrender of this Warrant (with a duly executed exercise form in the form attached at the end hereof as Exhibit A) at the principal office of the Company, together with the proper payment of the Per Share Warrant Price times the applicable number of Warrant Shares.
1.2 Upon such surrender of this Warrant, the Company will (a) issue a certificate or certificates in the name of Holder for the Warrant Shares to which the Holder shall be entitled and (b) if the Warrant is exercised in part, deliver to the Holder certificates evidencing the balance, if any, of the Warrant Shares to be issuable pursuant to the provisions of this Warrant.
1.3 Any stamp tax attributable to the issuance of the Warrant Shares shall be borne solely by Holder.
Warrant Period; Exercise of Warrant. 1.1 This Warrant may be exercised in whole or part at any time commencing 9:00 a.m., New York City time, on any business day on or after the issuance thereof and continuing up to the fifth anniversary thereof (the "Warrant Period"), by the surrender of this Warrant (with a duly executed exercise form in the form attached at the end hereof as Exhibit A) at the principal office of the Company, together with the proper payment of the Per Share Warrant Price times the number of Warrant Shares.
1.2 Upon such surrender of this Warrant, the Company will (a) issue a certificate or certificates in the name of Holder for the Warrant Shares to which the Holder shall be entitled and (b) deliver the other securities and properties receivable upon the exercise of this Warrant, pursuant to the provisions of this Warrant.
1.3 Any stamp tax attributable to the issuance of the Shares shall be borne solely by Holder.
Warrant Period; Exercise of Warrant. 1.1 This Warrant may be exercised in whole or in part at any time commencing 9:00 a.m., New York City time, on the date set forth above through January 31, 2001 (the "Warrant Period") by the surrender of this Warrant (with a duly executed exercise form in the form attached at the end hereof as Exhibit A) at the principal office of the Company, together with the proper payment of the Per Share Warrant Price times the number of Warrant Shares, subject to the closing of the Investment. As used herein, the term "Investment" shall mean the closing of a private investment in the Company with gross proceeds equal to or exceeding $7,500,000.
Warrant Period; Exercise of Warrant. 1.1 This Warrant may be exercised in whole only once at any time commencing 9:00 a.m., New York City time, on the date set forth above through the third anniversary thereof (the "Warrant Period") by the surrender of this Warrant (with a duly executed exercise form in the form attached at the end hereof as Exhibit A) at the principal office of the Company, together with the proper payment of the Per Share Warrant Price times the number of Warrant Shares.
1.2 Upon surrender of this warrant and payment of the Warrant Price as aforesaid, the Company shall issue and cause to be delivered to Warrant holder, a certificate or certificates for the number of Warrant Shares being purchased, and such certificate or certificates shall be deemed to have been issued and any person so designated to be named therein shall be deemed to have become a holder of the such Shares as of the close of business on the date of the surrender of the Warrant and payment of the Per Share Warrant Price.
1.3 Any stamp tax attributable to the issuance of the Shares shall be borne solely by Holder.
Warrant Period; Exercise of Warrant. 1.1 This Warrant may be exercised in whole or part at any time commencing immediately following the approval by the Company's stockholders at the annual 2000 general meeting of the stockholders of an increase in the authorized shares of the Company's stock (such date hereinafter referred to as the "Conversion Date"), on any business day on or after the Conversion Date and continuing up to the fourth anniversary thereof (the "Warrant Period"), (i) by the surrender of this Warrant (with a duly executed exercise form in the form attached at the end hereof as Exhibit A) at the principal office of the Company, together with the proper payment of the Per Share Warrant Price times the applicable number of Warrant Shares or (ii) by the surrender of this Warrant (with the cashless exercise form at the end hereof duly executed) (a "Cashless Exercise") at the address set forth in Section 11 hereof. Such presentation and surrender shall be deemed a waiver of the Holder's obligation to pay the aggregate Warrant Price, or the proportionate part thereof if this Warrant is exercised in part. In the event of a Cashless Exercise, the Holder shall exchange its Warrant for that number of Warrant Shares subject to such Cashless Exercise multiplied by a fraction, the numerator of which shall be the difference between the then Current Market Price and the Per Share Warrant Price, and the denominator of which shall be the then Current
Warrant Period; Exercise of Warrant. 1.1 This Warrant may be exercised in whole or in part at any time commencing 9:00 a.m., New York City time, on the date set forth above through January 31, 2001 (the "Warrant Period") by the surrender of this Warrant (with a duly executed exercise form in the form attached at the end hereof as Exhibit A) at the principal office of the Company, together with the proper payment of the Per Share Warrant Price times the number of Warrant Shares, subject to the closing of the Investment. As used herein,
Warrant Period; Exercise of Warrant
