Common use of Net Exercise Election Clause in Contracts

Net Exercise Election. Holder may elect to exercise all or any portion, of this Warrant, without the payment by Holder of any additional consideration, by delivery of an Exercise Notice with the net exercise election selected, duly executed by Holder, into up to the number of shares of Warrant Stock that is obtained under the following formula: X = Y (A-B) A where X = the number of shares of Warrant Stock to be issued to Holder pursuant to a net exercise of this Warrant effected pursuant to this Section 2.6. Y = the number of shares of Warrant Stock being exercised. A = the Fair Market value of one share of Warrant Stock as of the effective date of such exercise. B = the Exercise Price. The Company will respond in writing to an inquiry by Holder as to the then current Fair Market Value of one share of Warrant Stock as promptly as practicable under the circumstances.

Net Exercise Election. Holder may elect to exercise all or any portion, of this Warrant, without the payment by Holder of any additional consideration, by delivery of an Exercise Notice with the net exercise election selected, duly executed by Holder, into up to the number of shares of Warrant Stock that is obtained under the following formula: X = Y (A-B) A where X = the number of shares of Warrant Stock to be issued to Holder pursuant to a net exercise of this Warrant effected pursuant to this Section 2.62.5. Y = the number of shares of Warrant Stock being exercised. A = the Fair Market value of one share of Warrant Stock as of the effective date of such exercise. B = the Exercise Price. The Company will respond in writing to an inquiry by Holder as to the then current Fair Market Value of one share of Warrant Stock as promptly as practicable under the circumstances.

Net Exercise Election. Holder may elect to exercise all or any portion, of this Warrant, without the payment by Holder of any additional consideration, by delivery of an Exercise Notice with the net exercise election selected, duly executed by HolderXxxxxx, into up to the number of shares of Warrant Stock that is obtained under the following formula: X = Y (A-B) A where X = the number of shares of Warrant Stock to be issued to Holder pursuant to a net exercise of this Warrant effected pursuant to this Section 2.6. Y = the number of shares of Warrant Stock being exercised. A = the Fair Market value of one share of Warrant Stock as of the effective date of such exercise. B = the Exercise Price. The Company will respond in writing to an inquiry by Holder Xxxxxx as to the then current Fair Market Value of one share of Warrant Stock as promptly as practicable under the circumstances.

Net Exercise Election. Holder may elect to exercise all or any portion, of this Warrant, without the payment by Holder of any additional consideration, by delivery of an Exercise Notice with the net exercise election selected, duly executed by HolderXxxxxx, into up to the number of shares of Warrant Stock that is obtained under the following formula: X = Y (A-B) A where X = the number of shares of Warrant Stock to be issued to Holder pursuant to a net exercise of this Warrant effected pursuant to this Section 2.62.5. Y = the number of shares of Warrant Stock being exercised. A = the Fair Market value of one share of Warrant Stock as of the effective date of such exercise. B = the Exercise Price. The Company will respond in writing to an inquiry by Holder Xxxxxx as to the then current Fair Market Value of one share of Warrant Stock as promptly as practicable under the circumstances.

Net Exercise Election. Holder may elect to exercise all or any portion, of this Warrant, without the payment by Holder of any additional consideration, by delivery of an Exercise Notice with the net exercise election selected, duly executed by HolderXxxxxx, into up to the number of shares of Warrant Stock that is obtained under the following formula: X = Y (A-B) A where X = the number of shares of Warrant Stock to be issued to Holder pursuant to a net exercise of this Warrant effected pursuant to this Section 2.6. Y = the number of shares of Warrant Stock being exercised. A = the Fair Market value of one share of Warrant Stock as of the effective date of such exercise. B = the Exercise Price. The Company will respond in writing to an inquiry by Holder Xxxxxx as to the then current Fair Market Value of one share of Warrant Stock as promptly as practicable under the circumstances.