Common use of When Exercise Effective Clause in Contracts

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections Section 3.1 and 12 hereof, and, at such time, the Holder corporation, association, partnership, organization, business, individual, government or political subdivision thereof or a governmental agency (a “Person” or the “Persons”) in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to to, and the Purchase Price shall have been received by, the Company as provided in Sections 3.1 Section 2.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at Section 1.1. At such time, the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders stockholder(s) of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for shares of Warrant Shares Stock shall be issuable issued upon such exercise as provided in Section 3.3 hereof shall be deemed for all corporate purposes to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at Section 1.1. At such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof 1.3, shall be deemed to have become the holder Holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to to, and the Company Purchase Price shall have been received by, the Corporation as provided in Sections 3.1 Section 2.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 Section 1.1 hereof, and, and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 1.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, Section 1.1 and, at such time, the Holder person or persons in whose name or names any certificate or certificates for shares of Warrant Shares Stock shall be issuable issued upon such exercise as provided in Section 3.3 hereof shall be deemed for all corporate purposes to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company exercised as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at immediately prior to the close of business on such time, Business Day the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof section 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 2.1, and 12 hereof, and, the person(s) in whose name(s) the certificate(s) for shares of the Common Stock (or Other Securities) that are to be issued upon such exercise in accordance with Section 2.3 shall be deemed the holder(s) of record thereof at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be ----------------------- deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at Section 1.1. At such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof 1.3, shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections Section 3.1 and 12 hereof, and, and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Class A Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this any Warrant pursuant to Section 4.2 shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this the Warrant Certificate representing such Warrant, duly executed, with accompanying payment, shall have been duly surrendered to the Company delivered as provided in Sections 3.1 Section 4.2, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name any or names the certificate or certificates for Warrant Shares Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 4.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofCompany, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall be deemed to have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise or conversion of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 Section 2.1 hereof, and, and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Class A Common Stock shall be issuable upon such exercise as provided in Section 3.3 2.3 hereof shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at Section 1.1. At such time, the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders stockholder(s) of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which the holder surrenders this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofsatisfies all of the requirements of Section 2, and, and at such time, time the Holder person in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof 2, shall be deemed to have become be the record holder or holders of record thereof of the number of such Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 Section 1.1 hereof, and, at . At such time, the Holder Person or Persons, in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 hereof, shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company exercised as provided in Sections 3.1 and 12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections Section 3.1 and 12 hereof, and, and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 Section 1.1 hereof, and, at . Upon such time, exercise the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 1.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to to, and the purchase price shall have been received by, the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof and shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1; and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be ----------------------- deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof section 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 2.1, and 12 hereof, and, at such time, time the Holder Person in whose name any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 3.12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to to, and the Purchase Price shall have been received by, the Company as provided in Sections 3.1 and 12 hereofSection 2.1, and, to the extent permitted by law, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company together with all applicable payments as provided in Sections 3.1 and 12 hereof, and, at Section 1.1. At such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof 1.3, shall be deemed to have become the holder Holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 2, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for shares of Warrant Shares Stock shall be issuable issued upon such exercise as provided in Section 3.3 hereof shall be deemed for all corporate purposes to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at Section 1.1. At such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares Interests shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof 1.3, shall be deemed to have become the holder Holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed ----------------------- to have been effected immediately prior to the close of business on the Business Day business day on which the holder surrenders this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofsatisfies all of the requirements of Section 2, and, and at such time, time the Holder person in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof 2, shall be deemed to have become be the record holder or holders of record thereof of the number of such Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 Section 1.1 hereof, and, and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Class A Common Stock shall be issuable upon such exercise as provided in Section 3.3 1.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each Subject to Section 1.2, each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall be deemed to have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofSection 1.1, and, at such time, the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 1.5 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall be deemed to have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall be deemed to have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofSection 1.1, and, at such time, the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares Units shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered the Exercise Notice is delivered to the Company as provided in Sections 3.1 and 12 hereof, and, at Section 1.1. At such time, the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 1.4 shall be deemed to have become the holder or holders stockholder(s) of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to to, and the Purchase Price shall have been received by, the Company as provided in Sections 3.1 Section 2.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Common Shares (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected effective for the Holder immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly is surrendered to the Company as provided in Sections 3.1 Section 2.1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Company, and 12 hereof, and, at such time, time the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 Section 1.1 hereof, and, and at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 1.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be ----------------------- deemed to have been effected immediately prior to the close of business on the Business Day on an which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof section 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder person or person in whose name or names any certificate or certificates for shares of Warrant Shares Stock shall be issuable issued upon such exercise as provided in Section 3.3 hereof shall be deemed for all corporate purposes to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant A shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1 hereof (and 12 hereofin the case of exercise pursuant to Section 1.1.1, andprovided that the holder has paid the consideration required thereby), and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 1.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 2.1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the next Business Day on which after this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant ----------------------- shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall be deemed to have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofSection 1.1, and, at such time, the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 1.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which the holder surrenders this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofsatisfies all of the requirements of Section 2, and, and at such time, time the Holder person in whose name any certificate or certificates for Warrant Shares shall ­shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof 2, shall be deemed to have become be the record holder or holders of record thereof of the number of such Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected effective for the Holder immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly is surrendered to the Company as provided in Sections 3.1 Section .1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 2.1 and 12 11 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 2.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each The exercise of this a Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this the Warrant Certificate shall have been duly surrendered to to, and the Purchase Price shall have been received by, the Company as provided in Sections 3.1 Section 3.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for shares of Warrant Shares Stock shall be issuable issued upon such exercise as provided in Section 3.3 hereof shall be deemed for all corporate purposes to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantrecord thereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Common Shares (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to to, and the Purchase Price shall have been received by, the Company as provided in Sections 3.1 Section 2.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company and the Company shall have received the Exercise Price as provided in Sections 3.1 3(a) and 12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 3(c) hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1 (the "Exercise Date"), and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for shares of Warrant Shares Stock shall be issuable issued upon such exercise as provided in Section 3.3 hereof shall be deemed for all corporate purposes to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected effective immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly is surrendered to the Company as provided in Sections 3.1 Section 1.2, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof 1.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at Section 1.1. At such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares interests shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof 1.3, shall be deemed to have become the holder Holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 Section 1.1 hereof, and, and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Class A Common Stock shall be issuable upon such exercise as provided in Section 3.3 1.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each Subject to Section 1.2, each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall be deemed to have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofSection 1.1, 2 and, at such time, the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 1.5 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected effective for the Holder immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly is surrendered to the Company as provided in Sections 3.1 Section 2.1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 2.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall be deemed to have been duly surrendered to the Company as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant shares of Ordinary Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company along with the subscription as provided in Sections 3.1 and 12 hereofSection 1.1, and, at such time, the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 1.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant B shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 7.1 hereof (and 12 hereofin the case of exercise pursuant to Section 7.1.1, andprovided that the holder has paid the consideration required thereby), and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Preferred Stock shall be issuable upon such exercise as provided in Section 3.3 7.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected effective for the Holder immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly is surrendered to the Company as provided in Sections 3.1 Section 2.1 or Section 2.2, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 2.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofparagraph 1.1, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 paragraph 1.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.

When Exercise Effective. Each Subject to compliance with the provisions of Section 3.1 hereof, each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business at 9:00am, prevailing Eastern Time, on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares then purchased upon exercise of this Warrant.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 section 1.2, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock shall be issuable upon such exercise as provided in Section 3.3 hereof section 1.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall be deemed to have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofSection 1.1, and, at such time, the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 1.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this any Warrant pursuant to section 3.1 shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this the Warrant Certificate representing such Warrant, duly executed, with accompanying payment shall have been duly surrendered to the Company delivered as provided in Sections 3.1 section 3.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name any or names the certificate or certificates for Warrant Shares Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected effective for the Holder immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly is surrendered to the Company as provided in Sections 3.1 Section 2.1. and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 2.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 Section 1.1 or 1.2 hereof, and, and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof 1.4 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrant.thereof. The

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 2.1, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for shares of Warrant Shares Stock shall be issuable issued upon such exercise as provided in Section 3.3 hereof shall be deemed for all corporate purposes to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantrecord thereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 Section 1.2, and 12 hereof, and, at such time, time the Holder person or persons in whose name or names any certificate or certificates for shares of Warrant Shares Stock shall be issuable issued upon such exercise as provided in Section 3.3 hereof shall be deemed for all corporate purposes to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Depository Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Common Shares purchased upon exercise of this Warrant.

When Exercise Effective. (a) Each exercise of this Warrant shall be deemed to have been effected immediately prior to before the close of business on the Business Day on which this Warrant shall be deemed to have been duly delivered and surrendered to the Company Company, accompanied by payment, as provided in Sections 3.1 Section 1.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof 1.3 shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day business day on which the holder surrenders this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofsatisfies all of the requirements of Section 2, and, and at such time, time the Holder person in whose name any certificate or certificates for Warrant Shares shall ­shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof Sec­tion 2, shall be deemed to have become be the record holder or holders of record thereof of the number of such Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each The exercise of this Warrant shall be deemed to ----------------------- have been effected immediately prior to the close of business on the Business Day business day on which the holder surrenders this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereofsatisfies all of the requirements of Section 2, and, and at such time, time the Holder person in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise such exercise, as provided in Section 3.3 hereof 2, shall be deemed to have become be the record holder or holders of record thereof of the number of such Warrant Shares purchased upon exercise of this Warrantfor all purposes.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 section 2.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 3.3 hereof section 2.3 shall be deemed to have become the holder Holder or holders Holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 Section 1.1 hereof, and, and at such time, time the Holder Person or Persons in whose name or names any certificate or certificates for Warrant Shares shares of Preferred Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 1.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this Warrant shall have been duly surrendered to the Company as provided in Sections 3.1 and 12 hereof, and, at such time, the Holder in whose name any certificate or certificates for Warrant Shares shall be issuable upon exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.

When Exercise Effective. Each exercise of this any Warrant pursuant to Section 3.1 shall be deemed to have been effected immediately prior to the close of business on the Business Day on which this the Warrant Certificate representing such Warrant, duly executed, with accompanying payment, shall have been duly surrendered to the Company delivered as provided in Sections 3.1 Section 3.1, and 12 hereof, and, at such time, time the Holder Person or Persons in whose name any or names the certificate or certificates for Warrant Shares Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 3.3 hereof shall be deemed to have become the holder or holders of record thereof of the number of Warrant Shares purchased upon exercise of this Warrantthereof.