Common use of Issuance of Shares of Common Stock on Exercise Clause in Contracts

Issuance of Shares of Common Stock on Exercise. Within three (3) trading days of the exercise of any Warrant (or such later date that the aggregate Warrant Price is paid to the Company by the Registered Holder other than in the case of a Cashless Exercise), the Company shall credit such Registered Holder’s balance account with The Depository Trust Company (“DTC”) for the number of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it. Unless otherwise advised in writing by the Company, the Warrant Agent shall always be entitled to assume that such conditions precedent are in effect and shall incur no liability in making such assumption. Subject to Section 4.5 of this Agreement, a Registered Holder of Warrants may exercise its Warrants only for a whole number of shares of Common Stock. In no event will the Company be required to net cash settle the Warrant. If, by reason of any exercise of warrants, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall either (i) round up to the nearest whole number, the number of shares to be issued to such holder or (ii) pay such holder cash for such fractional share in the Company’s sole discretion. In the event of a cash exercise, the Company hereby instructs the Transfer Agent to record cost basis for newly issued shares as the Warrant Price paid for the share(s). The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exerciseable.

Issuance of Shares of Common Stock on Exercise. Within three (3) trading days of As soon as practicable after the exercise of any Warrant (or such later date that and the aggregate clearance of the funds in payment of the Warrant Price (if payment is paid pursuant to the Company by the Registered Holder other than in the case of a Cashless ExerciseSection 3.3.1(a)), the Company shall credit issue to the Registered Holder of such Registered Holder’s balance account with The Depository Trust Company (“DTC”) Warrant a book-entry position or certificate, as applicable, for the number of full shares of Common Stock to which he, she or it such Registered Holder is entitled, registered in such name or names as may be directed by himsuch Registered Holder, her or it. Unless otherwise advised and if such Warrant shall not have been exercised in writing by the Company, the Warrant Agent shall always be entitled to assume that such conditions precedent are in effect and shall incur no liability in making such assumption. Subject to Section 4.5 of this Agreementfull, a Registered Holder of Warrants may exercise its Warrants only new book-entry position or countersigned Warrant, as applicable, for a whole the number of shares of Common StockStock as to which such Warrant shall not have been exercised. In no event will If fewer than all the Company Warrants evidenced by a Book Entry Warrant Certificate are exercised, a notation shall be required made to net cash settle the Warrantrecords maintained by the Depositary, its nominee for each Book Entry Warrant Certificate, or a Participant, as appropriate, evidencing the balance of the Warrants remaining after such exercise. If, by reason of any exercise of warrantsWarrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a shareshare of Common Stock, the Company shall either (i) round up down to the nearest whole number, the number of shares of Common Stock to be issued to such holder or (ii) pay such holder cash for such fractional share in the Company’s sole discretion. In the event of a cash exercise, the Company hereby instructs the Transfer Agent to record cost basis for newly issued shares as the Warrant Price paid for the share(s). The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exerciseableholder.

Issuance of Shares of Common Stock on Exercise. Within three (3) trading days of two Business Days after the exercise of any Warrant (or such later date that the aggregate Warrant Price is paid to the Company by if the Registered Holder other than in provides the case Company with at least one Business Day prior written notice of a Cashless Exercisesuch exercise (or, if such prior written notice is not so provided, within three Business Days after the exercise of the Warrant), the Company shall credit issue to the Registered Holder of such Registered Holder’s balance account with The Depository Trust Company (“DTC”) for Warrant the number of full shares of Common Stock to which he, she or it is entitled, in book-entry form, registered in such name or names as may be directed by him, her or it. Unless otherwise advised , and if such Warrant shall not have been exercised in writing by the Company, the Warrant Agent shall always be entitled to assume that such conditions precedent are in effect and shall incur no liability in making such assumption. Subject to Section 4.5 of this Agreementfull, a new countersigned Warrant for the number of shares as to which such Warrant shall not have been exercised. No Warrant that has been Transferred to a Third Party Transferee in a Third Party Transfer shall be exercisable and the Company shall not be obligated to issue shares of Common Stock upon exercise of such a Warrant unless the Common Stock issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the Registered Holder of Warrants may exercise its Warrants only for a whole number of shares of Common Stock. In no event will the Company be required to net cash settle the Warrantsuch Warrants. If, by reason of for any exercise of warrantsreason, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall either (i) round up down to the nearest whole number, the number of shares to be issued to such holder or (ii) pay such holder cash for such holder. In lieu of any fractional share in to which the Company’s sole discretion. In the event of a cash exerciseRegistered Holder would otherwise be entitled, the Company hereby instructs shall make a cash payment equal to the Transfer Agent to record cost basis for newly issued shares as Fair Market Value of one share of Common Stock on the Warrant Price paid for the share(s). The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exerciseablepayment date multiplied by such fraction.