Cashless Exercise/Conversion. Subject to all of the terms and conditions hereof, the holder shall have the right to convert this Warrant, in whole or in part, by surrender of this Warrant to the Company at its principal office, accompanied by a Notice of Exercise substantially in the form attached hereto, executed by the holder. Thereupon, the holder shall be entitled to receive a number of duly authorized, validly issued, fully paid and nonassessable Warrant Shares equal to: (i) (A) (x) the number of Warrant Shares (subject to adjustment as provided in Article III hereof) which such holder would be entitled to receive upon exercise of such Warrant for the number of Warrant Shares designated in such Notice of Exercise (without giving effect to any adjustment thereof pursuant to this subsection), multiplied by (y) the Fair Market Value of each such Warrant Share so receivable upon such exercise
Appears in 2 contracts
Sources: Warrant Agreement (First Avenue Networks Inc), Warrant Agreement (First Avenue Networks Inc)