Common use of REDEMPTION AT COMPANY'S ELECTION Clause in Contracts

REDEMPTION AT COMPANY'S ELECTION. The Company may at the option of the Board, by at least seven-days' prior written notice to the Holder (the "REDEMPTION NOTICE"), redeem this Warrant, in whole or in part, at any time after June 30, 2004, provided that (i) the Daily Market Price for twenty consecutive trading days is equal to or greater than the product of (x) 2 multiplied by (y) the Exercise Price, (ii) either (A) all of the Warrant Shares underlying this Warrant to be redeemed are then registered under an effective registration statement or (B) may be sold pursuant to Rule 144 during a three-month period without registration under the Securities Act, (iii) sufficient shares of Common Stock of the Company are authorized and reserved for issuance upon the full exercise of this Warrant, (iv) all of the Warrant Shares issuable upon exercise of this Warrant are then listed on every stock exchange, market or bulletin board on which any Common Stock of the Company is then listed and (v) the Company is not in default of any material provision of any Transaction Agreement (as defined in the Purchase Agreement). The Redemption Notice shall set forth a date, not less than seven days after the date of the Redemption Notice, on which the redemption of this Warrant shall occur (the "REDEMPTION DATE"). On the Redemption Date, (i) the Company shall pay the Holder by certified check an amount equal to the product of (x) $0.01 (as adjusted in proportion to any adjustment to the Exercise Price pursuant to Section 3 hereof) multiplied by (y) the number of Warrant Shares so redeemed; and (ii) the Holder shall deliver the original copy of this Warrant marked "REDEEMED" to the Company. If the Company shall redeem this Warrant in part, the Company shall, at the Redemption Date, provided that the Holder shall have delivered the original copy of this Warrant marked "REDEEMED" to the Company, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unredeemed shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. Nothing in this Section 10 shall prevent the exercise of the Warrants at any time prior to the Redemption Date.

REDEMPTION AT COMPANY'S ELECTION. The Company may at the option of the Board, by at least seven-days' prior written notice to the Holder (the "REDEMPTION NOTICE"), redeem this Warrant, in whole or in part, at any time after June 30, 2004time, provided that (i) the Daily Market Price for twenty consecutive trading days is equal to or greater than the product of (x) 2 multiplied by (y) the Exercise Price, (ii) either (A) all of the Warrant Shares underlying this Warrant to be redeemed are then registered under an effective registration statement or (B) may be sold pursuant to Rule 144 during a three-month period without registration under the Securities Act, (iii) sufficient shares of Common Stock of the Company are authorized and reserved for issuance upon the full exercise of this Warrant, (iv) all of the Warrant Shares issuable upon exercise of this Warrant are then listed on every stock exchange, market or bulletin board on which any Common Stock of the Company is then listed and (v) the Company is not in default of any material provision of any Transaction Agreement (as defined in the Purchase Agreement). The Redemption Notice shall set forth a date, not less than seven days after the date of the Redemption Notice, on which the redemption of this Warrant shall occur (the "REDEMPTION DATE"). On the Redemption Date, (i) the Company shall pay the Holder by certified check an amount equal to the product of (x) $0.01 0.001 (as adjusted in proportion to any adjustment to the Exercise Price pursuant to Section 3 hereof) multiplied by (y) the number of Warrant Shares so redeemed; and (ii) the Holder shall deliver the original copy of this Warrant marked "REDEEMED" to the Company. If the Company shall redeem this Warrant in part, the Company shall, at the Redemption Date, provided that the Holder shall have delivered the original copy of this Warrant marked "REDEEMED" to the Company, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unredeemed shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. Nothing in this Section 10 shall prevent the exercise of the Warrants at any time prior to the Redemption Date.

REDEMPTION AT COMPANY'S ELECTION. The Company may at the option of the Board, by at least seventhirty-days' prior written notice to the Holder (the "REDEMPTION NOTICERedemption Notice"), redeem this Warrant, in whole or in part, at any time after June 30, 2004, provided that (i) the Daily Market Price for twenty consecutive trading days is equal to or greater than $6.30 and the product average daily trading volume (subject to adjustment for stock dividends, subdivisions and combinations) of (x) 2 multiplied by (y) the Exercise PriceCommon Stock for such twenty consecutive trading day period exceeds 100,000 shares, (ii) either (A) all of the Warrant Shares underlying this Warrant to be redeemed are then registered under an effective registration statement or (B) may be sold pursuant to Rule 144 during a three-month period without registration under the Securities Act, (iii) sufficient shares of Common Stock of the Company are authorized and reserved for issuance upon the full exercise of this Warrant, (iv) all of the Warrant Shares issuable upon exercise of this Warrant are then listed on every stock exchange, market or bulletin board on which any Common Stock of the Company is then listed and (v) the Company is not in default of any material provision of any Transaction Agreement Related Document (as defined in the Purchase Agreement). The Redemption Notice shall set forth a date, not less than seven thirty days after the date of the Redemption Notice, on which the redemption of this Warrant shall occur (the "REDEMPTION DATERedemption Date"). On the Redemption Date, (i) the Company shall pay the Holder by certified check an amount equal to the product of (x) $0.01 (as adjusted in proportion to any adjustment to the Exercise Price pursuant to Section 3 hereof) multiplied by (y) the number of Warrant Shares so redeemed; and (ii) the Holder shall deliver the original copy of this Warrant marked "REDEEMED" to the Company. If the Company shall redeem this Warrant in part, the Company shall, at the Redemption Date, provided that the Holder shall have delivered the original copy of this Warrant marked "REDEEMED" to the Company, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unredeemed shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. Nothing in this Section 10 15 shall prevent the exercise of the Warrants at any time prior to the Redemption Date.

REDEMPTION AT COMPANY'S ELECTION. The Company may at the option of the Board, by at least seven-days' prior written notice to the Holder (the "REDEMPTION NOTICE"), redeem this Warrant, in whole or in part, at any time after June 30, 2004, provided that (i) the Daily Market Price for twenty consecutive trading days is equal to or greater than the product of (x) 2 multiplied by (y) the Exercise Price, (ii) either (A) all of the Warrant Shares underlying this Warrant to be redeemed are then registered under an effective registration statement or (B) may be sold pursuant to Rule 144 during a three-month period without registration under the Securities Act, (iii) sufficient shares of Common Stock of the Company are authorized and reserved for issuance upon the full exercise of this Warrant, (iv) all of the Warrant Shares issuable upon exercise of this Warrant are then listed on every stock exchange, market or bulletin board on which any Common Stock of the Company is then listed and (v) the Company is not in default of any material provision of any Transaction Agreement (as defined in the Purchase Agreement). The Redemption Notice shall set forth a date, not less than seven days after the date of the Redemption Notice, on which the redemption of this Warrant shall occur (the "REDEMPTION DATE"). On the Redemption Date, (i) the Company shall pay the Holder by certified check an amount equal to the product of (x) $0.01 0.001 (as adjusted in proportion to any adjustment to the Exercise Price pursuant to Section 3 hereof) multiplied by (y) the number of Warrant Shares so redeemed; and (ii) the Holder shall deliver the original copy of this Warrant marked "REDEEMED" to the Company. If the Company shall redeem this Warrant in part, the Company shall, at the Redemption Date, provided that the Holder shall have delivered the original copy of this Warrant marked "REDEEMED" to the Company, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unredeemed shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. Nothing in this Section 10 shall prevent the exercise of the Warrants at any time prior to the Redemption Date.

REDEMPTION AT COMPANY'S ELECTION. The Company may at the option of the BoardCompany, by at least seven-days' thirty days prior written notice to the Holder (the "REDEMPTION NOTICE"“Redemption Notice”), redeem this Warrant, in whole or in part, at any time after June 30, 2004, provided that all of the following are true: (i) the Daily Market Price Price, on an average trading volume of at least 100,000 shares per day, for twenty of the thirty consecutive trading days immediately prior to the date of the Redemption Notice is equal to or greater than 300% of the product of (x) 2 multiplied by (y) the Exercise Current Warrant Price, (ii) either (A) all of the shares of Warrant Shares Stock underlying this Warrant to be redeemed (A) are then registered under an effective registration statement pursuant to which sales may be made by the Holder or (B) may be sold by the Holder pursuant to Rule 144 during a three-month period without registration under the Securities Act, (iii) sufficient shares of Common Stock of the Company are authorized and reserved for issuance upon the full exercise of this Warrant, (iv) all of the Warrant Shares Stock issuable upon exercise of this Warrant are is then listed on every stock exchange, market or bulletin board on which any Common Stock of the Company is then listed and (v) the Company is not in default default, in any material respect, of any material provision of covenant in any Transaction Agreement Document (as defined in the Purchase Agreement). The Redemption Notice shall set forth a date, not less than seven thirty days after the date of the Redemption Notice, on which the redemption of this Warrant shall occur (the "REDEMPTION DATE"“Redemption Date”). On the Redemption Date, (i) the Company shall pay the Holder by certified check an amount equal to the product of (x) $0.01 (as adjusted in proportion to any adjustment to the Exercise Current Warrant Price pursuant to Section 3 4 hereof) multiplied by (y) the number of shares of Warrant Shares Stock so redeemed; and (ii) the Holder shall deliver the original copy of this Warrant marked "“REDEEMED" ” to the Company. If the Company shall redeem this Warrant in part, the Company shall, at the Redemption Date, provided that or on (or promptly following) such later date as the Holder shall have delivered the original copy of this Warrant marked "“REDEEMED" ” to the Company, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unredeemed shares of Common Warrant Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. Nothing in this Section 10 15 shall prevent the exercise of the Warrants this Warrant at any time prior to the Redemption Date.

REDEMPTION AT COMPANY'S ELECTION. The Company may at the option of the Board, by at least seventhirty-days' prior written notice to the Holder (the "REDEMPTION NOTICERedemption Notice"), redeem this the Class A Warrant, the Class B Warrant or the Class C Warrant, in whole or in part, at any time after June 30, 2004, provided that (i) (A) with respect to redemption of the Daily Class A Warrant, the Current Market Price for twenty ten consecutive trading days is equal to or greater than $2.00 (subject to adjustment for stock dividends, subdivisions, combinations and the product like), (B) with respect to redemption of the Class B Warrant, the Current Market Price for ten consecutive trading days is equal to or greater than $2.50 (xsubject to adjustment for stock dividends, subdivisions, combinations and the like), and (C) 2 multiplied by with respect to redemption of the Class C Warrant, the Current Market Price for ten consecutive trading days is equal to or greater than $3.00 (y) subject to adjustment for stock dividends, subdivisions, combinations and the Exercise Pricelike), (ii) either (AX) all of the Warrant Shares Stock underlying this Warrant to be redeemed are then registered under an effective registration statement or (BY) may be sold pursuant to Rule 144 during a three-month period without registration under the Securities Act, (iii) sufficient shares of Common Stock of the Company are authorized and reserved for issuance upon the full exercise of this Warrant, (iv) all of the Warrant Shares Stock issuable upon exercise of this Warrant are then listed on every stock exchange, market or bulletin board on which any Common Stock of the Company is then listed and (v) the Company is not in default of any material provision of any Transaction Agreement Document (as defined in the Purchase Agreement). The Redemption Notice shall set forth a date, not less than seven thirty days after the date of the Redemption Notice, on which the redemption of this such class(es) of Warrant shall occur (the "REDEMPTION DATERedemption Date"). On the Redemption Date, (i) the Company shall pay the Holder by certified check an amount equal to the product of (x) $0.01 (as adjusted in proportion to any adjustment to the Exercise Price pursuant to Section 3 hereof) multiplied by (y) the number of Warrant Shares so redeemed; and (ii) the Holder shall deliver the original copy of this Warrant marked "REDEEMED" to the Company. If the Company shall redeem this Warrant in part, the Company shall, at the Redemption Date, provided that the Holder shall have delivered the original copy of this Warrant marked "REDEEMED" to the Company, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unredeemed shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. Nothing in this Section 10 15 shall prevent the exercise of the Warrants at any time prior to the Redemption Date.