Common use of Warrant Redemption Clause in Contracts

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. Upon (i) occurrence of the events described in Sections 3.4 and 10.4(c) of the Purchase Agreement, and (ii) the Company, may, at the option of the Company its option, at any time before the 360th day following the Closing Date, elect to pay the Company may be required or elect, as the case may be, to redeem (and pay any applicable liquidated damages) damages and redeem, and at the request of the Majority Holders 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 SholesXxxxxx, on the date they are called for redemption and (y) the nuxxxx xf 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.