Warrant Redemption. Upon occurrence of the events described in Sections 3.4 and 10.4(c) of the Purchase Agreement, the Company, at the request of Holder, shall redeem all outstanding Warrants that remain unexercised at a redemption price equal to the greater of (x) an appraised value of the Warrants, as determined by Black Xxxxxx, on the date they are called for redemption and (y) the number of Warrants being redeemed multiplied by the excess of (A) the average Closing Bid Price of the Common Stock for the five trading days immediately prior to the date that the Warrants are called for redemption over (B) the exercise price of the Warrants.
Warrant Redemption. Upon occurrence of the events described in Sections 3.4 and 10.4(c) of the Purchase Agreement, the Company, at the request of Holder, shall redeem all outstanding Warrants that remain unexercised at a redemption price equal to the greater of (x) an appraised value of the Warrants, as determined by Black Xxxxxx, on the date they are called for redemption and (y) the number of Warrants being redeemed multiplied by the excess of (A) the Market Price of the Common Shares over (B) the exercise price of the Warrants. "Market Price" shall mean the volume weighted average sales price as reported by Bloomberg, L.P. for the three consecutive trading days immediately prior to the date that the Warrants are called for redemption.
Warrant Redemption. Upon (i) occurrence of the events described in Sections 3.4 and 10.4(c) of the Purchase Agreement, and (ii) at the option of the Company at any time before the 360th day following the Closing Date, the Company may be required or elect, as the case may be, to redeem (and pay any applicable liquidated damages) all outstanding Warrants that remain unexercised at a redemption price equal to the greater of (x) an appraised value of the Warrants, as determined by Black Sholes, on the date they are called for redemption and (y) the nuxxxx xf Warrants being redeemed multiplied by the excess of (A) the average Closing Bid Price of the Common Stock for the five Trading Days immediately prior to the date that the Warrants are called for redemption over (B) the exercise price of the Warrants.
Warrant Redemption. The Warrants are redeemable by the Company at any time after issuance through the expiration date of June 30, 2006 at the declared value of $.01 per Warrant ("Redemption Price"). If the Company shall elect to redeem Warrants as permitted herein, notice of redemption shall be given to the Holder of all outstanding Warrants to whom the redemption shall apply by mailing first class mail a notice of such redemption not less than 60 days prior to the date fixed for the redemption at his last address as it shall appear upon the books of the Company, but failure to give such notice by mailing to any Holder of the Warrant, or any defect therein, shall not effect the legality or validity of the proceedings for the redemption of any other Warrant. The notice of redemption to each Holder of Warrants shall specify the date fixed for redemption (the "Redemption Date") and the Redemption Price, and shall state that payment of the Redemption Price of the Warrants will be made at the office of the Company or its Warrant Agent, if any, upon presentation and surrender of such Warrants, and shall also state that the right to exercise the Warrants so redeemable shall terminate on the Redemption Date (stating such date). If the giving of notice of redemption shall have been completed as above provided, and, in the case where a Warrant Agent is utilized, its funds sufficient for the redemption of the Warrant shall have been deposited with the Warrant Agent for such purpose, the right to exercise the Warrants shall terminate at the close of business on the Redemption Date, and the Holder of each Warrant shall thereafter be entitled upon surrender of his Warrant only to receive the Redemption Price for such Warrant, without interest.
Warrant Redemption. The Company may not call or redeem any portion of this Warrant without the prior written consent of the affected Holder.
Warrant Redemption. Simultaneously with the execution and delivery of this Amendment No. 3, the Lender is delivering to the Borrower, for redemption by the Borrower, all of the Warrants (covering an aggregate of 2,100,000 shares of Common Stock), in consideration of which the Borrower is paying to the Lender the sum of $1,000,000, constituting part of the Additional Note being issued pursuant to paragraph 7 below. The Lender makes no representations or warranties regarding the Warrants or the value thereof, other than that the Lender has unencumbered title to the Warrants and full power and authority to deliver the Warrants for redemption hereunder.
Warrant Redemption. Upon occurrence of the events described in Sections 3.4 and 10.4(c) of the Purchase Agreement, the Company, at the request of Holder, shall redeem all outstanding Warrants that remain unexercised at a redemption price equal to the greater of (x) an appraised value of the Warrants, as determined by Black Xxxxxx, on the date they are called for redemption and (y) the number of Warrants being redeemed multiplied by the excess of (A) the average closing bid price of the Common Stock for the five Trading Days immediately prior to the date that the Warrants are called for redemption over (B) the exercise price of the Warrants.
Warrant Redemption. Upon occurrence of the events described in Exhibit A to the Purchase Agreement setting forth the terms fo the Series A Convertible Preferred Stock with respect to redemption, the Company, at the request of Holder, shall redeem all outstanding Warrants that remain unexercised at a redemption price equal to the greater of (x) an appraised value of the Warrants, as determined by Black Xxxxxx, on the date they are called for redemption and (y) the number of Warrants being redeemed multiplied by the excess of (A) the average closing bid price of the Common Stock for the five trading days immediately prior to the date that the Warrants are called for redemption over (B) the exercise price of the Warrants.
Warrant Redemption. The Company shall, for an aggregate amount not to exceed $7,000,000 (including any prepayment fee or other make-whole premium incurred in connection with the Household Warrant Redemption or the related refinancing of Debt owing to Household), against surrender of the certificates representing the Household Warrants, have purchased all Household Warrants outstanding immediately prior to the Closing Date and cancelled all certificates representing the Household Warrants received in connection with such purchase (the "HOUSEHOLD WARRANT REDEMPTION"). In connection with the Household Warrant Redemption all rights of Household as a holder of such Household Warrants shall have ceased except the rights to receive the payments specified in the preceding sentence and certain indemnity, expense or similar provisions which by their express terms are intended to survive the Household Warrant Redemption. The Household Warrants shall not be deemed outstanding for any purpose. You shall have received evidence in form, scope and substance reasonably satisfactory to you that the matters set forth in this Section 3.10(c) have been satisfied on the Closing Date. There shall have been delivered to you copies, certified as true and correct by a Senior Officer, of all Household Warrant Redemption Documents, including the certificates evidencing the Household Warrants so redeemed, all of which shall be in form and substance reasonably satisfactory to you.
Warrant Redemption. Upon a Change in Control, transfer of substantially all of the assets of the Company, merger or consolidation of the Company with another entity, failure to maintain a sufficient number of shares for issuance and delivery upon exercise of the Warrant or failure to maintain an effective Registration Statement covering the Common Shares underlying the Warrant, the Company, at the request of Holder, shall redeem all outstanding Warrants that remain unexercised at a redemption price equal to the greater of (x) an appraised value of the Warrants, as determined by Black Xxxxxx, on the date they are called for redemption and (y) the number of Warrants being redeemed multiplied by the excess of (A) the Market Price of the Common Shares over (B) the exercise price of the Warrants. “Market Price” shall mean the volume weighted average sales price as reported by Bloomberg, L.P. for the three consecutive trading days immediately prior to the date that the Warrants are called for redemption.
