Common use of GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK Clause in Contracts

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase from the Company 150,000 fully paid and non-assessable shares of the Company's Series F Non-Voting Convertible Preferred Stock (the "PREFERRED STOCK") at a purchase price of $4.75 per share (the "EXERCISE PRICE"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for to and purchase purchase, from the Company 150,000 Company, Ten Thousand Five Hundred (10,500) fully paid and non-assessable shares of the Company's Series F Non-Voting Convertible B Preferred Stock (the "PREFERRED STOCKPreferred Stock") at a purchase price of Four Dollars $4.75 4.00 per share (the "EXERCISE PRICEExercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase purchase, from the Company 150,000 Company, 16,666 fully paid and non-assessable shares of the Company's Series F Non-Voting Convertible C Preferred Stock (the "PREFERRED STOCKPreferred Stock") at a purchase price of $4.75 6.00 per share (the "EXERCISE PRICEExercise Price")) which is equivalent to five percent (5%) of $2,000,000 divided by the Exercise Price. The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. (a) The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for to and purchase purchase, from the Company 150,000 Company, Fifteen Thousand Seven Hundred Twenty-Nine (15,729) fully paid and non-assessable shares of the Company's Series F Non-Voting Convertible Preferred Stock (the "PREFERRED STOCK") at a purchase price of $4.75 4.52 per share (the "EXERCISE PRICEExercise Price"). The number and purchase price Exercise Price of such shares are subject to adjustment as provided in Section 8 hereof.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The For value received, the Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase purchase, from the Company 150,000 8,130 fully paid and non-assessable shares of the Company's Series F Non-Voting Convertible Preferred Stock (the "PREFERRED STOCKPreferred Stock"). The exercise price ("Exercise Price") at a purchase price of shall be equal to $4.75 6.15 per share (the "EXERCISE PRICE")share. The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for to and purchase purchase, from the Company 150,000 Company, ______ fully paid and non-assessable shares of the Company's Series F Non-Voting Convertible _ Preferred Stock (the "PREFERRED STOCKPreferred Stock") at a purchase price of $4.75 ____ per share (the "EXERCISE PRICEExercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for to and purchase purchase, from the Company 150,000 Company, at a price per share equal to $1.125 (the "Exercise Price"), 142,222 fully paid and non-assessable nonassessable shares of the Company's Series F Non-Voting Convertible B Preferred Stock (the "PREFERRED STOCK") at a purchase price of Stock, $4.75 .01 par value per share (the "EXERCISE PRICEPreferred Stock"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for to and purchase purchase, from the Company 150,000 Company, 13,222 fully paid and non-assessable shares of the Company's Series F Non-Voting A Convertible Preferred Stock Stock, par value $.01 per share (the "PREFERRED STOCKPreferred Stock") at a purchase price of $4.75 10.085 per share (the "EXERCISE PRICEExercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for to and purchase purchase, from the Company 150,000 Company, 1,703 fully paid and non-assessable shares of the Company's Series F Non-Voting A Convertible Preferred Stock Stock, par value $.01 per share (the "PREFERRED STOCKPreferred Stock") at a purchase price of $4.75 10.085 per share (the "EXERCISE PRICEExercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof.