Common use of Mandatory Exercise Clause in Contracts

Mandatory Exercise. (a) In the event the Market Price of the Common Stock for twenty (20) consecutive trading days is equal to at least $15.00 per share (as appropriately adjusted for stock splits, stock dividends, combinations, recapitalizations, reclassifications, mergers, consolidations and other similar events), the Company shall have the right to cause the exercise of the Warrants at any time thereafter by the Warrantholders by giving written notice to each Warrantholder of such election (a "Mandatory Exercise Election Notice"); provided that the Warrant Shares issuable upon such exercise shall have been Registered (as defined) and listed on each securities exchange, over-the-counter market or on the NASDAQ National Market on which similar Securities issued by the Company are then listed. "Registered" refers to a registration effected by preparing and filing with the SEC, a registration statement in compliance with the Securities Act, as amended, and the declaration or ordering by the Commission of the effectiveness of such registration statement.

Mandatory Exercise. (a) In the event the Market Price of the Common Stock for twenty (20) consecutive trading days is equal to at least $15.00 per share (as appropriately adjusted for stock splits, stock dividends, combinations, recapitalizations, reclassifications, mergers, consolidations and other similar events), the Company shall have the right to cause the exercise of the Warrants at any time thereafter by the Warrantholders by giving written notice to each Warrantholder of such election (a "Mandatory Exercise Election Notice"); provided that the ---------------------------------- Warrant Shares issuable upon such exercise shall have been Registered (as defined) and listed on each securities exchange, over-the-counter market or on the NASDAQ National Market on which similar Securities issued by the Company are then listed. "Registered" refers to a registration effected by preparing and ---------- filing with the SEC, a registration statement in compliance with the Securities Act, as amended, and the declaration or ordering by the Commission of the effectiveness of such registration statement.

Mandatory Exercise. (a) In the event the Market Price of the Common Stock for twenty (20) consecutive trading days is equal to at least $15.00 22.37 per share (as appropriately adjusted for stock splits, stock dividends, combinations, recapitalizations, reclassifications, mergers, consolidations and other similar events), the Company shall have the right to cause the exercise of the Warrants at any time thereafter by the Warrantholders by giving written notice to each Warrantholder of such election (a "Mandatory Exercise Election Notice"); provided that the ---------------------------------- Warrant Shares issuable upon such exercise shall have been Registered (as defined) and listed on each securities exchange, over-the-counter market or on the NASDAQ Nasdaq National Market on which similar Securities issued by the Company are then listed. "Registered" refers to a registration effected by preparing and ---------- filing with the SEC, SEC a registration statement in compliance with the Securities Act, as amended, and the declaration or ordering by the Commission SEC of the effectiveness of such registration statement.

Mandatory Exercise. (a) In the event the Market Price of the Common Stock for twenty (20) consecutive trading days is equal to at least $15.00 22.37 per share (as appropriately adjusted for stock splits, stock dividends, combinations, recapitalizations, reclassifications, mergers, consolidations and other similar events), the Company shall have the right to cause the exercise of the Warrants at any time thereafter by the Warrantholders by giving written notice to each Warrantholder of such election (a "Mandatory Exercise Election Notice"); provided that the ---------------------------------- Warrant Shares issuable upon such exercise shall have been Registered (as defined) and listed on each securities exchange, over-the-counter market or on the NASDAQ Nasdaq National Market on which similar Securities issued by the Company are then listed. "Registered" refers to a registration effected by preparing and filing with the SEC, a registration statement in compliance with the Securities Act, as amended, and the declaration or ordering by the Commission SEC of the effectiveness of such registration statement.

Mandatory Exercise. (a) In the event the Market Price closing bid price of the Common Stock for twenty (20) consecutive trading days is equal to at least $15.00 5.00 per share (as appropriately adjusted for stock splits, stock dividends, combinations, recapitalizations, reclassifications, mergers, consolidations and other similar events), the Company shall have the right to cause the exercise of the Warrants at any time thereafter by the Warrantholders by giving written notice to each Warrantholder of such election (a "Mandatory Exercise Election Notice"); provided that the Warrant Shares issuable upon such exercise shall have been Registered (as defined) and listed on each securities exchange, over-the-counter market or on the NASDAQ Nasdaq National Market on which similar Securities issued by the Company are then listed. "Registered" refers to a registration effected by preparing and filing with the SEC, a registration statement in compliance with the Securities Act, as amended, and the declaration or ordering by the Commission of the effectiveness of such registration statement.

Mandatory Exercise. (a) In the event the Market Price closing bid price of the Common Stock for twenty (20) consecutive trading days is equal to at least $15.00 5.00 per share (as appropriately adjusted for stock splits, stock dividends, combinations, recapitalizations, reclassifications, mergers, consolidations and other similar events), the Company shall have the right to cause the exercise of the Warrants at any time thereafter by the Warrantholders by giving written notice to each Warrantholder of such election (a "Mandatory Exercise Election Notice"); provided that the Warrant Shares issuable upon such exercise shall have been Registered (as defined) and listed on each securities exchange, over-the-counter market or on the NASDAQ Nasdaq National Market on which similar Securities securities issued by the Company are then listed. "Registered" refers to a registration effected by preparing and filing with the SEC, Securities and Exchange Commission (the "Commission") a registration statement in compliance with the Securities ActAct of 1933, as amended, and the declaration or ordering by the Commission of the effectiveness of such registration statement.