Common use of Obligation to Repurchase Warrant and Warrant Stock Clause in Contracts

Obligation to Repurchase Warrant and Warrant Stock. (a) At any time and from time to time, at the election of the Holder, after the date which is three years and six months after the Closing Date, the Holder may, by notice to the Company (the "Put Notice"), demand repurchase of this Warrant, in whole or in part, and/or all or part of the Holder's shares of Warrant Stock which are Restricted Common Stock. Subject to the provisions of Section 13.2, the Company shall, on the date (not less than 30 days after the date of the Put Notice) designated in such Put Notice, repurchase from the Holder all or the portion of this Warrant and/or the number of shares of such Holder's Warrant Stock designated in the Put Notice for an amount determined by multiplying (x) the number of shares of Warrant Stock and/or the Common Stock subject to this Warrant or portion thereof being repurchased by (y) the Current Market Price per share of Common Stock determined as of the date of the repurchase demand and, in the event of repurchase of all or a portion of this Warrant, deducting from the product thereby obtained the Current Warrant Price times the number of shares of Common Stock subject to this Warrant (or portion thereof) being repurchased.

Obligation to Repurchase Warrant and Warrant Stock. (a) At In the event the Company has exercised its rights to redeem all of the Preferred Shares pursuant to Section 8.01(a) of the Unit Purchase Agreement, at any time and from time to time, at the election of the Holder, after the date which is three years and six months after the Closing Date, the Holder may, by notice to the Company (the "Put Notice"), demand repurchase of this Warrant, in whole or in part, and/or all or part of the Holder's shares of Warrant Stock which are Restricted Common Stock. Subject to the provisions of Section 13.2, the Company shall, on the date (not less than 30 days after the date of the Put Notice) designated in such Put Notice, repurchase from the Holder all or the portion of this Warrant and/or the number of shares of such Holder's Warrant Stock designated in the Put Notice for an amount determined by multiplying (x) the number of shares of Warrant Stock and/or the Common Stock subject to this Warrant or portion thereof being repurchased by (y) the Current Market Price per share of Common Stock determined as of the date of the repurchase demand and, in the event of repurchase of all or a portion of this Warrant, deducting from the product thereby obtained the Current Warrant Price times the number of shares of Common Stock subject to this Warrant (or portion thereof) being repurchased.