Common use of Partial Exercise of Warrants Clause in Contracts

Partial Exercise of Warrants. (1) The holder of any Warrants may exercise his, her or its right to acquire Shares in part and may thereby acquire a number of Shares less than the aggregate number which he, she or it is entitled to acquire pursuant to the Warrant Certificate(s) surrendered in connection therewith. In the event of any acquisition of a number of Shares less than the number which the holder is entitled to acquire, he, she or it shall, upon exercise thereof, be entitled to receive, without charge therefor, a new Warrant Certificate(s) representing the balance of the Warrants not exercised.