Payment of the Warrant. Price shall be made at the option of the Holder by one or more of the following methods: (i) by delivery of a certified or official bank check in the amount of such Warrant Price payable to the order of the Company, (ii) by instructing the Company to withhold a number of shares of Warrant Stock then issuable upon exercise of this Warrant with an aggregate Fair Value equal to such Warrant Price (the "Share Withholding Option"), or ------------------------ (iii) by surrendering to the Company shares of Common Stock previously acquired by the Holder with an aggregate Fair Value equal to such Warrant Price. In the event of any withholding of Warrant Stock or surrender of Common Stock pursuant to clause (ii) or (iii) above where the number of shares whose Fair Value is equal to the Warrant Price is not a whole number, the number of shares withheld by or surrendered to the Company shall be rounded up to the nearest whole share and the Company shall make a cash payment to the Holder based on the incremental fraction of a share being so withheld by or surrendered to the Company in an amount determined in accordance with Section 2.3 hereof.
Payment of the Warrant. Price shall be made at the option of the Holder by one or more of the following methods: (i) by delivery of a certified or official bank check in the amount of such Warrant Price, (ii) by instructing the Company to withhold a number of shares of Warrant Stock then issuable upon exercise of this Warrant with an aggregate Current Market Price equal to such Warrant Price (the "Share Withholding Option"), (iii) by surrendering to the Company shares of Common Stock previously acquired by the Holder with an aggregate Current Market Price equal to such Warrant Price or(iv) by delivery of a Note, duly endorsed by or accompanied by appropriate instruments of transfer duly executed by the Holder or by the Holder's attorney duly authorized in writing. In the event of any withholding of Warrant Stock or surrender of Common Stock pursuant to clause (ii) or (iii) above where the number of shares whose Current Market Price is equal to the Warrant Price is not a whole number, the number of shares withheld by or surrendered to the Company shall be rounded up to the nearest whole share and the Company shall make a cash payment to the Holder based on the incremental fraction of a share being so withheld by or surrendered to the Company in an amount determined in accordance with Section 2.3 hereof. For the purpose of making payment of the Warrant Price, any Note surrendered to the Company shall be deemed to have a value equal to 100% of the principal amount thereof plus any interest accrued but unpaid thereon. If the Holder delivers a Note with a deemed value that exceeds the Warrant Price, the Company shall reissue to the Holder a new Note identical in all respects to the surrendered Note except that the principal amount of such new Note shall be equal to the principal amount that, together with any interest accrued but unpaid thereon, is equal to the deemed value of the surrendered Note less the Warrant Price.
Payment of the Warrant. Price shall be made in cash, by certified or official bank check in Los Angeles Clearing House funds (next day funds), or any combination thereof.
Payment of the Warrant. Price shall be made at the option of the Holder by one or more of the following methods: (i) by delivery of a certified or official bank check in the amount of such Warrant Price, (ii) by instructing the Company to withhold a number of shares of Warrant Stock then issuable upon exercise of this Warrant with an aggregate Fair Value equal to such Warrant Price (the "Share Withholding Option") or (iii) by surrendering to the Company shares of Common Stock previously acquired by the Holder with an aggregate Fair Value equal to such Warrant Price. In connection with any such surrender of Common Stock, Holder shall deliver to Company duly executed stock power endorsed in blank. In the event of any withholding of Warrant Stock or surrender of Common Stock pursuant to clause (ii) or (iii) above where the number of shares whose Fair Value is equal to the Warrant Price is not a whole number, the number of shares withheld by or surrendered to the Company shall be rounded up to the nearest whole share and the Company shall make a cash payment to the Holder based on the incremental fraction of a share being so withheld by or surrendered to the Company in an amount determined in accordance with Section 2.3 hereof.
Payment of the Warrant. Price shall be made at the option of the Holder by (i) cash, (ii) wire transfer to an account in a bank located in the United States designated for such purpose by the Company, (iii) certified or official bank check, or (iv) any combination of the foregoing; provided, however, that the Holder shall have the right, at its election, in lieu of delivering the Warrant Price in cash, to instruct the Company in the form of the subscription form appearing at the end of this Warrant as Exhibit A to retain, in payment of the Warrant Price, a number of shares of Common Stock equal to the quotient of the aggregate Warrant Price of the shares as to which this Warrant is then being exercised divided by the Current Market Price.
Payment of the Warrant. Price shall be made at the option of the Holder either (i) by delivery of a certified or official bank check or by wire transfer to an account designated by Pegasystems, in either case in immediately available funds in the amount of such Warrant Price, or (ii) by instructing Pegasystems to withhold a number of shares of Common Stock then purchasable upon exercise of this Warrant with an aggregate Fair Value equal to such Warrant Price (the "Cashless Exercise Option"). In the event of any such withholding of Common Stock purchasable upon exercise of this Warrant where the number of shares whose Fair Value is equal to the Warrant Price is not a whole number, the number of shares withheld by Pegasystems shall be rounded up to the nearest whole share and Pegasystems shall make a cash payment to the Holder based on the incremental fraction of a share being so withheld by Pegasystems in an amount determined in accordance with Section 2.2.
Payment of the Warrant. Price shall be made at the option of the Holder by (i) cash, (ii) wire transfer to an account in a bank located in the United States designated for such purpose by the Company, (iii) certified or official bank check, (iv) delivery of shares of Series B Preferred Stock with an aggregate stated value, plus accrued and unpaid dividends thereon, equal to the Warrant Price, (v) delivery of shares of Common Stock, valued per share at the Daily Market Price as of the last Trading Day prior to the date of delivery of such shares to the Company, with an aggregate value equal to the Warrant Price, or (vi) any combination of the ACI WARRANT 7 foregoing; provided, however, that the Holder shall have the right, at its election, in lieu of delivering the Warrant Price in cash, to instruct the Company in the form of Subscription Notice to retain, in payment of the Warrant Price, a number of shares of Common Stock (the "Payment Shares") equal to the quotient of the aggregate Warrant Price of the shares as to which this Warrant is then being exercised divided by the Current Market Price.
Payment of the Warrant. Price shall be made at the option of Holder (i) by certified or official bank check or (ii) by the surrender of this Warrant to the Company, with a duly executed exercise notice marked to reflect "Net Issue Exercise," and, in either case, specifying the number of shares of Common Stock to be purchased, during normal business hours on any Business Day. Upon a Net Issue Exercise, Holder shall be entitled to receive shares of Common Stock equal to the value of this Warrant (or the portion thereof being exercised by Net Issue Exercise) by surrender of this Warrant to the Company together with notice of such election, in which event the Company shall issue to Holder a number of shares of the Company's Common Stock computed as of the date of surrender of this Warrant to the Company using the following formula: X = Y x (A - B) ----------- A Where X = the number of shares of Common Stock to be issued to Holder; Y = the number of shares of Common Stock otherwise purchasable under this Warrant (at the date of such calculation); A = the Current Market Price of one share of the Company's Common Stock (at the date of such calculation); B = the Current Warrant Price (as adjusted to the date of such calculation).
Payment of the Warrant. Price shall be made at the option of the Holder by certified or official bank check or wire transfer of immediately available funds to an account designated by Company, or by the Holder's surrender to Company of that number of shares of Warrant Stock (or the right to receive such number of shares) or shares of Common Stock having an aggregate Current Market Price equal to or greater than the Warrant Price for the percentage of the Diluted Common Stock then being purchased (including those being surrendered) or a combination thereof, duly endorsed by or accompanied by appropriate instruments of transfer duly executed by Holder or by Holder's attorney duly authorized in writing. If nox xxxxrwise txxx xxercisable, this Warrant shall become exercisable upon the occurrence of an Acceleration Event; provided that in no event shall this Warrant be exercisable prior to the first anniversary of the Closing Date (other than as a result of a Bankruptcy Event).
Payment of the Warrant. Price may be made as follows (or by any combination of the following): (i) in United States currency by cash or delivery of a certified check, bank draft or postal or express money order payable to the order of the Company, (ii) by surrendering to the Company for cancellation a portion of the principal amount of the senior promissory note due December 21, 2007 of the Company held by the Holder (the "Note") or (at the election of the Holder) accrued and unpaid interest thereon which is equal to the Warrant Price, (iii) by surrender of a number of shares of Common Stock held by the Holder equal to the quotient obtained by dividing (A) the Warrant Price payable with respect to the portion of this Warrant then being exercised by (B) the Current Market Price per share of Common Stock on the Exercise Date, or (iv) by cancellation of any portion of this Warrant with respect to the number of shares of Common Stock equal to the quotient obtained by dividing (A) the Warrant Price payable with respect to the portion of this Warrant then being exercised by (B) the difference between (1) the Current Market Price per share of Common Stock on the Exercise Date, and (2) the Exercise Price per share of Common Stock. If, pursuant to clause (ii) above, less than the entire unpaid principal amount of any Note shall be applied toward payment of the consideration payable upon any exercise of this Warrant, the Holder thereof shall surrender the Note and the Company shall (1) pay to the Holder the amount of unpaid interest accrued to the date of surrender on the portion of the principal amount of such Note which has been applied toward the Warrant Price, such payment to be in the form of a certified or official bank check and (2) issue a new Note representing the balance of the unpaid principal amount of the Note so surrendered, payable to such Holder or as such Holder may otherwise direct.
