Common use of Subscription Rights Clause in Contracts

Subscription Rights. If the Company, at any time while this ------------------- Warrant is outstanding, shall fix a record date for the distribution to all of the holders of Common Stock evidence of its indebtedness or assets or rights, options, warrants or other security entitling them to subscribe for or purchase, convert to, exchange for or otherwise acquire any security (excluding those referred to in paragraphs 6(a) and (b) above), then in each such case the Exercise Price at which the Warrant shall thereafter be exercisable shall be determined by multiplying the Exercise Price in effect immediately prior to the record date fixed for determination of shareholders entitled to receive such distribution by a fraction, the denominator of which shall be the Per Share Market Value of Common Stock determined as of the record date mentioned above, and the numerator of which shall be such Per Share Market Value of the Common Stock on such record date less the then fair market value at such record date of the portion of such assets or evidence of indebtedness so distributed applicable to one outstanding share of Common Stock as determined by the Board of Directors in good faith; provided, however, that in the event of a -------- ------- distribution exceeding ten percent (10%) of the net assets of the Company, such fair market value shall be determined in accordance with the Appraisal Procedure. Such adjustment shall be made whenever any such distribution is made and shall become effective immediately after the record date mentioned above.

Subscription Rights. If the Company, at any time while this ------------------- Warrant is outstanding, shall fix a record date for the distribution to all of the holders of Common Stock evidence of its indebtedness or assets or rights, options, warrants or other security entitling them to subscribe for or purchase, convert to, exchange for or otherwise acquire any security (excluding those referred to in paragraphs 6(a) and (b) above), then in each such case the Exercise Price at which the Warrant shall thereafter be exercisable shall be determined by multiplying the Exercise Price in effect immediately prior to the record date fixed for determination of shareholders entitled to receive such distribution by a fraction, the denominator of which shall be the Per Share Market Value of Common Stock determined as of the record date mentioned above, and the numerator of which shall be such Per Share Market Value of the Common Stock on such record date less the then fair market value at such record date of the portion of such assets or evidence of indebtedness so distributed applicable to one outstanding share of Common Stock as determined by the Board of Directors in good faith; provided, however, that in the event of a distribution exceeding -------- ------- distribution exceeding ten percent (10%) of the net assets of the Company, such fair market value shall be determined in accordance with the Appraisal Procedure. Such adjustment shall be made whenever any such distribution is made and shall become effective immediately after the record date mentioned above.

Subscription Rights. If the Company, at any time while this ------------------- Warrant Note is outstanding, shall fix a record date for the distribution to all of the holders of Common Stock evidence of its indebtedness or assets or rights, options, warrants or other security securities entitling them to subscribe for or for, purchase, convert to, exchange for or to otherwise acquire any security (excluding those referred to in paragraphs 6(a) and (bSection 3(d)(i) above), then in each such case the Exercise Conversion Price at which the Warrant this Note shall thereafter be exercisable shall be determined by multiplying the Exercise Conversion Price in effect immediately prior to the record date fixed for determination of shareholders stockholders entitled to receive such distribution by a fraction, the denominator of which shall be the Per Share average Daily Market Value Price of the Common Stock determined as of for the ten (10) Trading Days prior to the record date mentioned above, and the numerator of which shall be such Per Share average Daily Market Value Price of the Common Stock on for the ten (10) Trading Days prior to such record date less the then fair market value at such record date of the portion of such assets or evidence of indebtedness or assets or rights, options, warrants or other securities so distributed applicable to one outstanding share of Common Stock as determined by the Board of Directors in good faith; provided, however, that in the event of a -------- ------- distribution exceeding ten twenty percent (1020%) of the net assets of the Company, such fair market value shall be determined in accordance with by an appraiser selected by the Appraisal ProcedureHolder and reasonably acceptable to the Company. The Company shall pay for all such appraisals. Such adjustment shall be made whenever any such distribution is made and shall become effective immediately after the record date mentioned above.

Subscription Rights. If the CompanyMaker, at any time while this ------------------- Warrant Note is outstanding, shall fix a record date for the distribution to all of the holders of Common Stock evidence of its indebtedness or assets or rights, options, warrants or other security securities entitling them to subscribe for or for, purchase, convert to, exchange for or to otherwise acquire any security (excluding those referred to in paragraphs 6(a) and (bSection 4(d)(i) above), then in each such case the Exercise Conversion Price at which the Warrant this Note shall thereafter be exercisable shall be determined by multiplying the Exercise Conversion Price in effect immediately prior to the record date fixed for determination of shareholders stockholders entitled to receive such distribution by a fraction, the denominator of which shall be the Per Share average Daily Market Value Price of the Common Stock determined as of for the ten (10) Trading Days prior to the record date mentioned above, and the numerator of which shall be such Per Share average Daily Market Value Price of the Common Stock on for the ten (10) Trading Days prior to such record date less the then fair market value at such record date of the portion of such assets or evidence of indebtedness or assets or rights, options, warrants or other securities so distributed applicable to one outstanding share of Common Stock as determined by the Board of Directors in good faith; provided, however, that in the event of a -------- ------- distribution exceeding ten twenty percent (1020%) of the net assets of the CompanyMaker, such fair market value shall be determined in accordance with by an appraiser selected by the Appraisal ProcedureCreditor and reasonably acceptable to the Maker. The Maker shall pay for all such appraisals. Such adjustment shall be made whenever any such distribution is made and shall become effective immediately after the record date mentioned above.

Subscription Rights. If the Company, at any time while this ------------------- Warrant is outstanding, shall fix a record date for the distribution to all of the holders of Common Stock evidence of its indebtedness or assets or rights, options, warrants or other security entitling them to subscribe for or purchase, convert to, exchange for or otherwise acquire any security (excluding those referred to in paragraphs 6(a) and (b) above), then in each such case the Exercise Price at which the Warrant shall thereafter be exercisable shall be determined by multiplying the Exercise Price in effect immediately prior to the record date fixed for determination of shareholders entitled to receive such distribution by a fraction, the denominator of which shall be the Per Share Market Value of Common Stock determined as of the record date mentioned above, and the numerator of which shall be such Per Share Market Value of the Common Stock on such record date less the then fair market value at such record date of the portion of such assets or evidence of indebtedness so distributed applicable to one outstanding share of Common Stock as determined by the Board of Directors in good faith; provided, however, that in the event of a -------- ------- distribution exceeding ten percent -------- ------- (10%) of the net assets of the Company, such fair market value shall be determined in accordance with the Appraisal Procedure. Such adjustment shall be made whenever any such distribution is made and shall become effective immediately after the record date mentioned above.