Right to Convert Warrant Into Stock Net Issuance. (i) In addition to and without limiting the rights of the holder under the terms of this Warrant, the holder may elect to convert this Warrant or any portion thereof (the "Conversion Right") into shares of Common Stock, the aggregate value of which shares shall be equal to the value of this Warrant or the portion thereof being converted. The Conversion Right may be exercised by the holder by surrender of this Warrant at the principal office of the Company together with notice of the holder's intention to exercise the Conversion Right, in which event the Company shall issue to the holder a number of shares of the Company's Common Stock computed using the following formula: X= Y(A-B) ------ A Where: X The number of shares of Common Stock to be issued to the holder. Y The number of shares of Common Stock representing the portion of this Warrant that is being converted. A The fair market value of one share of the Company's Common Stock. B The Exercise Price (as adjusted to the date of such calculations).
Right to Convert Warrant Into Stock Net Issuance. In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder may elect to exercise this Warrant with respect to then Vested Shares (the "CONVERSION RIGHT"), the aggregate value of which Vested Shares shall be equal to the "in-the-money" value of this Warrant or the portion thereof being converted as set forth below. The Conversion Right may be exercised by the Holder by surrender of this Warrant at the principal office of the Company together with notice of the Holder's intention to exercise the Conversion Right, in which event the Company shall issue to the Holder a number of Vested Shares computed using the following formula: X= Y (A-B) ---------- A Where: X The number of Vested Shares to be issued to the Holder. Y The number of Vested Shares representing the portion of this Warrant that is being converted. A The fair market value of one Share. B The Exercise Price (as adjusted to the date of such calculations). For purposes of this Section 2.2, the "fair market value" per Share shall mean the market price of one share of Common Stock on the last business day before the effective date of exercise of the Conversion Right. If the Common Stock is then traded on a national securities exchange or admitted to unlisted trading privileges on such an exchange, or is listed on the Nasdaq Stock Market (the "NASDAQ MARKET"), the market price as of a specified day shall be the last reported sale price of one share of Common Stock on such exchange or on the Nasdaq Market on such date or if no such sale is made on such day, the mean of the closing bid and asked prices for such day on such exchange or on the Nasdaq Market. If the Common Stock is not so listed or admitted to unlisted trading privileges, the market price as of a specified day shall be the mean of the last bid and asked prices for one share of Common Stock reported on such date (x) by the NASD or (y) if reports are unavailable under clause (x) above by the National Quotation Bureau Incorporated. If the Common Stock is not so listed or admitted to unlisted trading privileges and bid and asked prices are not reported, the market price of one share of Common Stock as of a specified day shall be determined in good faith by written resolution of the Board of Directors of the Company.
Right to Convert Warrant Into Stock Net Issuance. (a) In addition to and without limiting the rights of the holder under the terms of this Warrant, the holder may elect to convert this Warrant or any portion thereof (the “Conversion Right”) into Shares, the aggregate value of which Shares shall be equal to the value of this Warrant or the portion thereof being converted. The Conversion Right may be exercised by the holder by surrender of this Warrant at the principal office of the Company together with notice of the holder’s intention to exercise the Conversion Right, in which event the Company shall issue to the holder a number of Shares computed 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 subject to the exercise election. A = The fair market value of one Share. B = Exercise Price (as adjusted to the date of such calculations).
Right to Convert Warrant Into Stock Net Issuance. In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder may elect to exercise this Warrant with respect to then Vested Shares (the "CONVERSION RIGHT"), the aggregate value of which Vested Shares shall be equal to the "in-the-money" value of this Warrant or the portion thereof being converted as set forth below. The Conversion Right may be exercised by the Holder by surrender of this Warrant at the principal office of the Company together with notice of the Holder's intention to exercise the Conversion Right, in which event the Company shall issue to the Holder a number of Vested Shares computed using the following formula: X= Y (A-B) ------- A Where: X The number of Vested Shares to be issued to the Holder.
Right to Convert Warrant Into Stock Net Issuance. (a) In addition to and without limiting the rights of Quantum under the terms of this Warrant and in lieu of exercising this Warrant under Section 2.1(a) above, Quantum may elect to convert this Warrant (the "Conversion Right") into shares of Series C Preferred Stock, the aggregate value of which shares shall be equal to the value of this Warrant. The Conversion Right may be exercised by Quantum by surrender of this Warrant at the principal office of the Company (with the Notice of Exercise form attached hereto as Exhibit A-1 duly executed), in which event the Company shall issue to Quantum a number of shares of the Company's Series C Preferred Stock computed using the following formula: X = Y (A-B) ------ A
Right to Convert Warrant Into Stock Net Issuance. In addition to and without limiting the rights of Landlord under the terms of this Warrant and in lieu of exercising this Warrant under Section 3(a) above, Landlord may elect to convert this Warrant (the “Conversion Right”) into shares of common stock, the aggregate value of which shares shall be equal to the value of this Warrant. The Conversion Right may be exercised by Landlord by surrender of this Warrant at the principal office of the Company (with the Notice of Exercise form attached hereto as Exhibit A-1 duly executed), in which event the Company shall issue to Landlord a number of shares of the Company’s common stock computed using the following formula: X = Y (A-B) A Where: X = The number of shares of common stock to be issued to Landlord. Y = The number of shares of common stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 3(b). A = The closing price of one share of the Company’s common stock as reported on the Nasdaq National Market on the trading day immediately preceding the date that the Exercise Notice is delivered to the Company. B = Exercise Price (as adjusted to the date of such calculations).
Right to Convert Warrant Into Stock Net Issuance. In addition to and without limiting the rights of Holder under the terms of this Warrant and in lieu of exercising this Warrant under Section 3(a) above, Holder may elect to convert this Warrant or any portion thereof (the “Conversion Right”), by surrender of this Warrant at the principal office of the Company (with the Notice of Exercise form attached hereto as Exhibit A-1 duly executed), into that number of Shares computed using the following formula: X = Y (A-B)
Right to Convert Warrant Into Stock Net Issuance. In addition to and without limiting the rights of Stanford under the terms of this Warrant and in lieu of exercising this Warrant under Section 3(a) above, Stanford may elect to convert this Warrant (the “Conversion Right”) into shares of common stock, the aggregate value of which shares shall be equal to the value of this Warrant. The Conversion Right may be exercised by Stanford by surrender of this Warrant at the principal office of the Company (with the Notice of Exercise form attached hereto as Exhibit A-1 duly executed), in which event the Company shall issue to Stanford a number of shares of the Company’s common stock computed using the following formula:
Right to Convert Warrant Into Stock Net Issuance. In addition to and without limiting the rights of Xxxxxxxx under the terms of this Warrant and in lieu of exercising this Warrant under Section 3(a) above, Xxxxxxxx may elect to convert this Warrant (the “Conversion Right”) into shares of common stock, the aggregate value of which shares shall be equal to the value of this Warrant. The Conversion Right may be exercised by Xxxxxxxx by surrender of this Warrant at the principal office of the Company (with the Notice of Exercise form attached hereto as Exhibit A-1 duly executed), in which event the Company shall issue to Xxxxxxxx a number of shares of the Company’s common stock computed using the following formula:
Right to Convert Warrant Into Stock Net Issuance. The registered holder hereof shall have the right to convert this Warrant, in whole, at any time at or prior to the expiration of the Warrant pursuant to Section 1 hereof, by the surrender of this Warrant and the notice of exercise form attached hereto duly executed to the principal office of the Company, into Shares as provided in this Section 9. Upon exercise of this conversion right, the holder hereof shall be entitled to receive that number of Shares of the Company (y) equal to the quotient obtained by dividing ((A - B)(X)) by (A), where:
