Common use of Exercise of the Purchase Rights Clause in Contracts

Exercise of the Purchase Rights. (a) The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as APPENDIX II (the `Notice of Exercise"), duly completed and executed. Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of Warrant Shares purchased and shall execute the Notice of Exercise indicating the number of Warrant Shares which remain subject to future purchases, if any. The Exercise Price may be paid at the Warrantholder's election either (i) by cash or check, or (ii) by surrender of all or a portion of the Warrant ("Net Issuance") as determined below. If the Warrantholder elects the Net Issuance method, the Company will issue Warrant Shares in accordance with the following formula: X = (P)(A-B) -------- A Where: X = the number of Warrant Shares to be issued to the Warrantholder for the portion of the Warrant being exercised. P = the number of Warrant Shares requested to be exercised under this Warrant Agreement. A = the Fair Market Value (defined below) of one (1) share of the Company's Common Stock. B = the Exercise Price.

Exercise of the Purchase Rights. (a) The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as APPENDIX II Exhibit I (the `"Notice of Exercise"), duly completed and executed. Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of Warrant Shares shares of Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of Warrant Shares shares which remain subject to future purchases, if any. The Exercise Price may be paid at the Warrantholder's election either (i) by cash or check, or (ii) by surrender of all or a portion of the Warrant Warrants ("Net Issuance") as determined below. If the Warrantholder elects the Net Issuance method, the Company will issue Warrant Shares Preferred Stock in accordance with the following formula: X = (P)(AY(A-B) -------- ------ A Where: X = the number of Warrant Shares shares of Preferred Stock to be issued to the Warrantholder for the portion of the Warrant being exercisedWarrantholder. P Y = the number of Warrant Shares shares of Preferred Stock requested to be exercised under this Warrant Agreement. A = the Fair Market Value (defined below) fair market value of one (1) share of the Company's Common Preferred Stock. B = the Exercise Price.

Exercise of the Purchase Rights. (a) The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company company at its principal office a notice of exercise in the form attached hereto as APPENDIX II Exhibit I (the `"Notice of Exercise"), duly completed and executed. Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of Warrant Shares shares of Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of Warrant Shares shares which remain subject to future purchases, if any. The Exercise Price may be paid at the Warrantholder's election either (i) by cash or check, or (ii) by surrender of all or a portion of the Warrant Warrants ("Net Issuance") as determined below. If the Warrantholder elects the Net Issuance method, the Company will issue Warrant Shares Preferred Stock in accordance with the following formula: X = (P)(AY(A-B) -------- ------ A Where: X = the number of Warrant Shares shares of Preferred Stock to be issued to the Warrantholder for the portion of the Warrant being exercisedWarrantholder. P Y = the the, number of Warrant Shares shares of Preferred Stock requested to be exercised under this Warrant Agreement. A = the Fair Market Value (defined below) fair market value of one (1) share of the Company's Common Stock. B = the Exercise Price.

Exercise of the Purchase Rights. (a) The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as APPENDIX II Exhibit I (the `"Notice of Exercise")) , duly completed and executed. Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of Warrant Shares shares of Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of Warrant Shares shares which remain subject to future purchases, if any. The Exercise Price may be paid at the Warrantholder's election either (i) by cash or check, or (ii) by surrender of all or a portion of the Warrant Warrants ("Net Issuance") as determined below. If the Warrantholder elects the Net Issuance method, the Company will issue Warrant Shares Preferred Stock in accordance with the following formula: X = (P)(AY(A-B) -------- ---------- A Where: X = the number of Warrant Shares shares of Preferred Stock to be issued to the Warrantholder for the portion of the Warrant being exercised. P = the number of Warrant Shares requested to be exercised under this Warrant Agreement. A = the Fair Market Value (defined below) of one (1) share of the Company's Common Stock. B = the Exercise PriceWarrantholder.

Exercise of the Purchase Rights. (a) The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as APPENDIX II Exhibit I (the `"Notice of Exercise"), duly completed and executed. Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of Warrant Shares shares of Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of Warrant Shares shares which remain subject to future purchases, if any. The Exercise Price may be paid at the Warrantholder's election either (i) by cash or check, or (ii) by surrender of all or a portion of the Warrant Warrants ("Net Issuance") as determined below. If the Warrantholder elects the Net Issuance method, the Company will issue Warrant Shares Preferred Stock in accordance with the following formula: X = (P)(AY(A-B) -------- ------ A Where: X = the number of Warrant Shares shares of Preferred Stock to be issued to the Warrantholder for the portion of the Warrant being exercisedWarrantholder. P Y = the number of Warrant Shares shares of Preferred Stock requested to be exercised under this Warrant Agreement. A = the Fair Market Value (defined below) fair market value of one (1) share of the Company's Common Preferred Stock. B = the Exercise Price.

Exercise of the Purchase Rights. (a) The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as APPENDIX II Exhibit I (the `"Notice of Exercise"), duly completed and executed. Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of Warrant Shares shares of Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of Warrant Shares shares which remain subject to future purchasesPurchases, if any. The Exercise Price may be paid at the Warrantholder's Warrantholder"s election either (i) by cash or check, or (ii) by surrender of all or a portion of the Warrant Warrants ("Net Issuance") as determined below. If the Warrantholder elects the Net Issuance method, the Company will issue Warrant Shares Preferred Stock in accordance with the following formula: X = (P)(AY(A-B) -------- ------ A Where: X = the number of Warrant Shares shares of Preferred Stock to be issued to the Warrantholder for the portion of the Warrant being exercisedWarrantholder. P Y = the number of Warrant Shares shares of Preferred Stock requested to be exercised under this Warrant Agreement. A = the Fair Market Value (defined below) fair market value of one (1) share of the Company's Common Stock. B = the Exercise Price.. As used herein, current fair market value of Common Stock shall mean with respect to each share of Common Stock: