Common use of Method of Exchange Clause in Contracts

Method of Exchange. The Exchange may be accomplished by the ------------------ Holder by the surrender of this Warrant at the principal office of the Company (the date of such surrender, the "Exchange Date") together with a written statement specifying that the Holder thereby intends to exchange the Warrant for Common Stock, indicating the number of shares subject to this Warrant that are being surrendered (referred to in Section 7.1 hereof as the Exchange Warrant Shares) pursuant to such Exchange and specifying whether the Holder has elected to (i) pay an exchange price in shares of Common Stock owned by the Holder (in which case the Holder shall surrender a number of shares having a Fair Market Value equal to the aggregate Warrant Price of the Exchanged Warrant Shares) or (ii) not pay any exchange price. Certificates for the Shares issuable upon an Exchange (or any other securities deliverable in lieu thereof under Section 2) shall be issued as of the Exchange Date and shall be delivered to the Holder immediately following the Exchange Date.

Method of Exchange. The Exchange Right may be accomplished exercised by the ------------------ Holder by the surrender of this Warrant at the principal office of the Company (the date of such surrender, the "Exchange Date") together with a written statement specifying that the Holder thereby intends to exchange exercise the Warrant for Common StockExchange Right, indicating the number of shares subject to this Warrant that are being surrendered (referred to in Section 7.1 hereof as the Exchange Exchanged Warrant Shares) pursuant to such in exercise of the Exchange Right and specifying whether the Holder has elected to pay the exchange price (i) pay an exchange price in shares of Common Stock owned by the Holder (in which case the Holder shall surrender a number of shares having a Fair Market Value equal to the aggregate Warrant Price of the Exchanged Warrant Shares) or (ii) not pay any in shares of Common Stock to be issued upon exchange priceof this Warrant. Certificates for the Shares issuable upon an exercise of the Exchange Right (or any other securities deliverable in lieu thereof under Section 2) shall be issued as of the Exchange Date and shall be delivered to the Holder immediately following the Exchange Date.