Exercise Warrant Clause Samples

Exercise Warrant. If any Event of Default has occurred and is continuing, Lender and/or the Holder of the Warrant or any assignee or successor-in-interest of the Lender or Holder may exercise all of their rights under the Warrant as provided in this Section 10.2(c). If any Event of Default has occurred and is continuing, the Lender, the Holder (as defined in the Warrant) of the Warrant or any permitted successor or assign, as the case may be, may exercise its rights under the Warrant for the Shares (as such term is defined in the Warrant and subject to adjustment as provided therein). The Net Proceeds (as determined in Lender’s and/or Holder’s sole and absolute discretion) from any sale or retention of the Shares issued under the Warrant shall be applied (after payment of any sums, amounts, Lender’s Costs and Fees payable to the Lender pursuant to New Loan Documents ) to the payment of the Obligations in such order as the Lender may elect in its sole discretion. The parties hereto acknowledge and agree that the Warrant is being issued as collateral for the Obligations and any Net Proceeds derived by the Lender or Holder pursuant thereto shall constitute a credit against the Obligations as determined in Lender’s sole and absolute discretion. All of the Lender’s rights and remedies under this Section, the New Loan Documents and under applicable law, including but not limited to the foregoing, shall be cumulative and not exclusive and shall be enforceable alternatively, successively or concurrently as the Lender may deem expedient. The Lender or the Holder shall not be obligated to make any sale or other disposition unless the terms thereof shall be satisfactory to it as determined in Lender’s or Holder’s sole and absolute discretion. Upon payment in full of the Obligations, any surplus Net Proceeds, if any, thereafter remaining shall be paid to the Borrower, subject to the rights of any holder of a Lien on the Collateral of which the Lender or Holder has actual notice.

Exercise Warrant. The rights represented by this Warrant may be exercised by the Warrantholders, in whole or in part (but not as to a fractional share of Common Stock), during the exercise Period by the presentation and surrender of this Warrant with written notice of Warrantholders' election to purchase, at the principal executive office of the Company, or at such other address as the Company may designate by notice in writing to the Warrantholders at the address of such Warrantholders appearing on the books of the Company, and upon payment to the Company of the Exercise Price for such shares of Common Stock. Such payment shall be made by certified or cashier's check to the order of the Company. The Company agrees that the shares so purchased (the "Warrant Shares") shall be deemed to have been issued to the Warrantholders as the record owner of such Warrant Shares as of the close of business on the date on which this Warrant shall have been surrendered together with the aforementioned written notice of election to purchase, and payment for such Warrant Shares shall have been made as aforesaid. Certificates for the Warrant Shares so purchased shall be delivered to the Warrantholders within a reasonable time, not exceeding five (5) business days, after the rights represented by this Warrant shall have been so exercised, and, unless this Warrant has expired, a new Warrant representing the number of shares, if any, with respect to which this Warrant shall not then have been exercised shall also be issued to the Warrantholders within such time.

Exercise Warrant. (a) Exercise: Exercise of the purchase rights represented by this Warrant Certificate may be made, in whole or in part, at any time or times on or before the Expiry Time by delivery to the Corporation of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto; and, within three Business Days of the date said Notice of Exercise is delivered to the Corporation, the Corporation shall have received payment of the aggregate Exercise Price of the Warrant Shares thereby purchased by wire transfer or cashier's check drawn on a United States or Canadian bank. Notwithstanding anything herein to the contrary, the Warrantholder shall not be required to physically surrender this Warrant Certificate to the Corporation until the Warrantholder has purchased all of the Warrant Shares available hereunder and the Warrant Certificate has been exercised in full, in which case, the

Exercise Warrant