Common use of Net Issue Election Clause in Contracts

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together with a duly executed notice of exercise in the form attached hereto as Exhibit A-2) at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of shares of Common Stock as is computed using the following formula: X = Y (A-B) ------ A Where X= the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.2. Y= the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.2. A= the Fair Market Value of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.2. B= the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.2.

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together to the Company, with a the net issue election notice annexed hereto duly executed notice of exercise in the form attached hereto as Exhibit A-2) executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: where: X = Y (A-B) ------ A Where X= the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.24. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.24. A= A = the Fair Market Value (defined below) of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.2. B= the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.24.

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together to the Company, with a the net issue election notice annexed hereto duly executed notice of exercise in the form attached hereto as Exhibit A-2) executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (AX= Y(A-B) ------ A Where X= where: X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.24. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.24. A= A = the Fair Market Value (defined below) of one share of Common Stock, Stock as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.24. B= B = the Exercise Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.2.4. “Fair Market Value” of a share of Common Stock as of the date that the net issue election is made (the “Determination Date”) shall mean:

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together with a duly executed notice of exercise in the form attached hereto as Exhibit A-2) at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of shares of Common Stock as is computed using the following formula: X = Y (AY(A-B) ------ A Where X= X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.2. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.2. A= A = the Fair Market Value of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.2. B= B = the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.2.

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together to the Company, with a the net issue election notice annexed hereto duly executed notice of exercise in the form attached hereto as Exhibit A-2) executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (AX= Y(A-B) ------ A Where X= where: X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.24. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.24. A= A = the Fair Market Value (defined below) of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.2. B= 4 (the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.2“Determination Date”).

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together with a duly executed exercise notice of exercise in the form attached hereto as Exhibit A-2) at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of shares of Common Stock as is computed using the following formula: X = Y (A-B) ------ ------- A Where X= where X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.2. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.2. A= A = the Fair Market Value of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.2. B= B = the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.2.

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together to the Company, with a the net issue election notice annexed hereto duly executed notice of exercise in the form attached hereto as Exhibit A-2) executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (AX= Y(A-B) ------ A Where X= where: X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.25. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.25. A= A = the Fair Market Value (defined below) of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.2. B= 5 (the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.2“Determination Date”).

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together to the Company, with a the net issue election notice annexed hereto duly executed notice of exercise in the form attached hereto as Exhibit A-2) executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (AX= Y(A-B) ------ A Where X= where: X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.24. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.24. A= A = the Fair Market Value (defined below) of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.24. B= B = the Exercise Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.24.

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together with a duly executed notice of exercise in the form attached hereto as Exhibit A-2) at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of shares of Common Stock as is computed using the following formula: X = Y (A-B) ------ ------- A Where X= X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.2. Y= ------------ Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.2. A= A = the Fair Market Value of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.2. B= the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.2.

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together to the Company, with a the net issue election notice annexed hereto duly executed notice of exercise in the form attached hereto as Exhibit A-2) executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A. X=Y(A-B) ------ A Where X= where: X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.24. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.24. A= A = the Fair Market Value (defined below) of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.24. B= B = the Exercise Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.2.4. "Fair Market Value" of a share of Common Stock as of a particular date (the "Determination Date") shall mean:

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together to the Company, with a the net issue election notice annexed hereto duly executed notice of exercise in the form attached hereto as Exhibit A-2) executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (AY(A-B) ------ A Where X= where: X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.24. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.24. A= A = the Fair Market Value (defined below) of one share of Common Stock, Stock as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.24. B= B = the Exercise Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.24.

Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion (together to the Company, with a the net issue election notice annexed hereto duly executed notice of exercise in the form attached hereto as Exhibit A-2) executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (AX= Y(A-B) ------ A Where X= where: X = the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.25. Y= Y = the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.25. A= A = the Fair Market Value (defined below) of one share of Common Stock, as determined in accordance with Section 7 herein, as at the time the net issue election is made pursuant to this Section 4.2. B= 5 (the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.2"Determination Date").