Common use of Par Value Clause in Contracts

Par Value. The Company shall not close its books against the --------- transfer of this Warrant or of any share of Common Stock issued or issuable upon the exercise of this Warrant in any manner which interferes with the timely exercise of this Warrant. If the par value per share of the unissued Common Stock acquirable upon exercise of this Warrant is at any time greater than the Exercise Price then in effect, the Purchaser may elect (but shall not be obligated) to purchase shares of Common Stock hereunder at par value, and the Company shall be obligated to reimburse the Purchaser for the aggregate amount of consideration paid in connection with such exercise in excess of the Aggregate Exercise Price.