Common use of Conversion of Warrant Clause in Contracts

Conversion of Warrant. The registered holder hereof shall have the right (but not the obligation) to require the Company to convert this Warrant, in whole or in part, at any time and from time to time at or prior to the Expiration Date, by the surrender of this Warrant and delivery of a Notice of Exercise/Conversion duly executed to the principal offices of the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered holder hereof), into Warrant Shares as provided in this Section 2. Upon exercise of this conversion right (and without payment by the holder of the Exercise Price), the holder hereof shall be entitled to receive that number of Warrant Shares determined in accordance with the following formula: Warrant Shares Issuable to Holder = [ (A/B) x C ] DIVIDED BY A where: A = the Fair Market Value (as defined below) of one Warrant Share on the date of conversion of this Warrant; B = the Exercise Price; and

Conversion of Warrant. The registered holder hereof shall have the right (but not the obligation) to require the Company to convert this Warrant, in whole or in part, at any time and from time to time at or prior to the Expiration DateTime, by the surrender of this Warrant and delivery of a the Notice of Exercise/Conversion form attached hereto duly executed to the principal offices office of the Company at the address set in Section 1 hereof (or such other office or agency of the Company as it may designate by notice in writing to the registered holder hereofhereof at the address of such holder appearing on the books of the Company), into shares of Warrant Shares Stock as provided in this Section 2. Upon exercise of this conversion right (and without payment by the holder of the Exercise Price)right, the holder hereof shall be entitled to receive that number of shares of Warrant Shares determined in accordance with Stock of the following formula: Warrant Shares Issuable Company equal to Holder = [ the quotient obtained by dividing [(A - B)(X)] by (A/B) x C ] DIVIDED BY A ), where: A = the Fair Market Value (as defined below) of one share of Warrant Share Stock on the date of conversion of this Warrant; . B = the Exercise Price; andPrice for one share of Warrant Stock under this Warrant. X = the number of shares of Warrant Stock as to which this Warrant is being converted. If the at above calculation results in a negative number, then no shares of Warrant Stock shall be issued or issuable upon conversion of this Warrant.

Conversion of Warrant. The registered holder hereof shall have the right (but not the obligation) to require the Company to convert this Warrant, in whole or in part, at any time and from time to time at or prior to the Expiration Date, by the surrender of this Warrant and delivery of a Notice of Exercise/Conversion duly executed to the principal offices of the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered holder hereof), into Warrant Shares as provided in this Section 2. Upon exercise of this conversion right (and without payment by the holder of the Exercise Price), the holder hereof shall be entitled to receive that number of Warrant Shares determined in accordance with the following formula: Warrant Shares Issuable to Holder = [ (A/A / B) x C ] DIVIDED BY + A where: A = the Fair Market Value (as defined below) of one Warrant Share on the date of conversion of this Warrant; B = the Exercise Price; andand C = the number of Warrant Shares as to which this Warrant is being converted.

Conversion of Warrant. The registered holder hereof shall have the right (but not the obligation) to require the Company to convert this Warrant, in whole or in part, at any time and from time to time at or prior to the Expiration DateTime, by the surrender of this Warrant and delivery of a the Notice of Exercise/Conversion form attached hereto duly executed to the principal offices office of the Company at the address set forth in Section 1 hereof (or such other office or agency of the Company as it may designate by notice in writing to the registered holder hereofhereof at the address of such holder appearing on the books of the Company), into shares of Warrant Shares Stock as provided in this Section 2. Upon exercise of this conversion right (and without payment by the holder of the Exercise Price)right, the holder hereof shall be entitled to receive that number of shares of Warrant Shares determined in accordance with Stock of the following formula: Warrant Shares Issuable Company equal to Holder = [ the quotient obtained by dividing [(A - B)(X)] by (A/B) x C ] DIVIDED BY A ), where: A = the Fair Market Value (as defined below) of one share of Warrant Share Stock on the date of conversion of this Warrant; . B = the Exercise Price; andPrice for one share of Warrant Stock under this Warrant. X = the number of shares of Warrant Stock as to which this Warrant is being converted. If the above calculation results in a negative number, then no shares of Warrant Stock shall be issued or issuable upon conversion of this Warrant.

Conversion of Warrant. The registered holder hereof shall have the right (but not the obligation) to require the Company to convert this Warrant, in whole or in part, at any time and from time to time at or prior to the Expiration Date, by the surrender of this Warrant and delivery of a Notice of Exercise/Conversion duly executed to the principal offices of the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered holder hereof), into Warrant Shares as provided in this Section 2. Upon exercise of this conversion right (and without payment by the holder of the Exercise Price), the holder hereof shall be entitled to receive that number of Warrant Shares determined in accordance with the following formula: Warrant Shares Issuable to Holder = [ (A/B) x A - B)x C ] DIVIDED BY +A where: A = the Fair Market Value (as defined below) of one Warrant Share on the date of conversion of this Warrant; B = the Exercise Price; and

Conversion of Warrant. The registered holder hereof shall have the right (but not the obligation) to require the Company to convert this Warrant, in whole or in part, at any time and from time to time at or prior to the Expiration DateTime, by the surrender of this Warrant and delivery of a the Notice of Exercise/Conversion form attached hereto duly executed to the principal offices office of the Company at the address set forth in Section I hereof (or such other office or agency of the Company as it may designate by notice in writing to the registered holder hereofhereof at the address of such holder appearing on the books of the Company), into shares of Warrant Shares Stock as provided in this Section 2. Upon exercise of this conversion right (and without payment by the holder of the Exercise Price)right, the holder hereof shall be entitled to receive that number of shares of Warrant Shares determined in accordance with Stock of the following formula: Warrant Shares Issuable Company equal to Holder = [ the quotient obtained by dividing [(A - B)(X)] by (A/B) x C ] DIVIDED BY A ), where: A = the Fair Market Value (as defined below) of one share of Warrant Share Stock on the date of conversion of this Warrant; . B = the Exercise Price; andPrice for one share of Warrant Stock under this Warrant. X = the number of shares of Warrant Stock as to which this Warrant is being converted. If the above calculation results in a negative number, then no shares of Warrant Stock shall be issued or issuable upon conversion of this Warrant.