Common use of Redemption of Warrants Clause in Contracts

Redemption of Warrants. The Warrants are redeemable by the Company, in whole or in part, on not less than ten (10) Business Days prior written notice at a redemption price of $.01 per Warrant, provided the closing bid price of the Common Stock on the OTC Bulletin Board if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange (or other reporting system that provides last sale prices) has been at least $2.00, for the period of 20 consecutive Trading Days ending on the third day prior to the date on which the Company gives notice of redemption.. Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Company. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant to whom notice was not mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants are redeemable by the CompanyCompany commencing on the second anniversary of the date of the Prospectus (or earlier with the consent of the Underwriter), in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 .10 per Warrant, provided the closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board The Nasdaq SmallCap Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange or the Nasdaq National Market (or other reporting system that provides last sale prices) ), has been at least $2.00, 8.00 per share for the a period of 20 consecutive Trading Days trading days ending on the third day prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants are redeemable by the CompanyCompany commencing on the second anniversary of the date of the Prospectus (or earlier with the consent of the Underwriter), in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 .10 per Warrant, provided the average closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board Nasdaq Stock Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the average closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange (or other reporting system that provides last sale prices) ), has been at least $2.00, 8.00 per share for the a period of 20 consecutive Trading Days trading days ending on the third day prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants are redeemable by the CompanyCompany commencing on the first anniversary of the date of the Prospectus (with the consent of the Underwriter), in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 .05 per Warrant, provided the average closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board Nasdaq Stock Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the average closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange (or other reporting system that provides last sale prices) ), has been at least $2.008.00 per share, for the a period of 20 consecutive Trading Days trading days ending on the third day prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. 10.1. The Warrants are redeemable by the Company, in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 per Warrant, provided the closing bid sale price of the Common Stock as reported on the OTC Bulletin Board Nasdaq Stock Market ("Nasdaq"), if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the closing last reported sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange Over the Counter Bulletin (or other reporting system that provides last sale prices) ), has been at least $2.00300% of the then current Purchase Price for 30 consecutive trading days, for subject to the period right of 20 consecutive Trading Days ending on the third day Registered Holder to exercise such Warrants prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holdersRegistered Holders. 10.2. The redemption In the event the Company exercises it right to redeem the Warrants, it shall give or cause to be given notice shall be mailed to the holders Registered Holders by mailing to such Registered Holder a notice of the Warrants redemption at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder Registered Holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant Registered Holder (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Registered Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants are redeemable by the Company, Company in whole or in part, on not less than ten (10) Business Days days' prior written notice at a redemption price of $.01 per Warrant, provided the average closing bid price quotation of the Class A Common Stock as reported on the OTC Bulletin Board Nasdaq SmallCap Stock Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the average closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange (or other reporting system that provides last sale sales prices) ), has been at least $2.00135% of the then current Exercise Price of the Warrants, for the a period of 20 10 consecutive Trading Days trading days ending on the third day within three days prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holdersWarrantholders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (1) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants, excluding the Underwriter's Warrants and Warrants issuable thereunder, are redeemable by the CompanyCompany commencing on the first anniversary of the date of the Prospectus included in the Registration Statement, in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 .10 per Warrant, provided the closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board The NASDAQ SmallCap Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange or the NASDAQ National Market (or other reporting system that provides last sale prices) ), has been at least $2.00, in excess of 150% of the Exercise Price for the any 20 trading days within a period of 20 30 consecutive Trading Days trading days ending on the third 15th day prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given on the date of mailing in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. 10.1. The Warrants are redeemable by the Company, in whole or in part, Company on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 per Warrant, provided the closing bid sale price of the Common Stock as reported on the OTC Bulletin Board Nasdaq Stock Market ("Nasdaq"), if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the closing last reported sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange Over the Counter Bulletin Board (or other reporting system that provides last sale prices) ), has been at least $2.00300% of the then current Purchase Price for 30 trading days, for subject to the period right of 20 consecutive Trading Days ending on the third day Registered Holder to exercise such Warrants prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Registered Holders. The Company and its legal counsel will confirm such notice of redemption with the Warrant holdersAgent prior to the date of redemption. The redemption notice shall be mailed to the holders of the Warrants Registered Holders at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder Registered Holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant Registered Holder (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Notwithstanding the foregoing, Registered Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants are redeemable by the CompanyCompany commencing on the first anniversary the date of the Prospectus, in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 .10 per Warrant, provided the average closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board Nasdaq Stock Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the average closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange (or other reporting system that provides last sale prices) ), has been at least $2.00, in excess of 150% of the Exercise Price for the a period of 20 consecutive Trading Days trading days in any 30 trading day period ending on the third day not more than 15 days prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants are redeemable by the Company, in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 .05 per Warrant, provided the closing bid last reported sale price of the Common Stock as reported on the OTC Over-The-Counter Electronic Bulletin Board ("OTCBB"), if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange or the Nasdaq SmallCap Market or National Market (or other reporting system that provides last sale prices) ), has been at least $2.00, 200% of the then current Warrant exercise price for the period of 20 consecutive Trading Days 30 trading days ending on the third day 15 days prior to the date on which the Company gives notice of redemption.. , subject to the right of the holder to exercise such Warrants prior to redemption. Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants are redeemable by the CompanyCompany ---------------------- at any time, in whole or in part, on not less than ten thirty (1030) Business Days days prior written notice at a redemption price of $.01 per Warrant, provided the closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board Board, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange or the Nasdaq market (or other reporting system that provides last sale prices) ), has been at least $2.00667% of the then current Exercise Price of the Warrants, for the a period of 20 15 consecutive Trading Days trading days ending on the third day within five days prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holdersHolders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the CompanyHolders pursuant to Section 12 hereof. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.date

Redemption of Warrants. The Warrants are redeemable by the CompanyCompany commencing on the second anniversary the date of the Prospectus (with the consent of the Underwriter), in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 .05 per Warrant, provided the average closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board Nasdaq Stock Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the average closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange (or other reporting system that provides last sale prices) ), has been at least $2.008.00 per share, for the a period of 20 consecutive Trading Days trading days ending on the third day prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants are redeemable by the CompanyCompany commencing on _____________, 1999 [the second anniversary of the date of the Prospectus] (or earlier with the consent of Network 1), in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 .10 per Warrant, provided the closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board The Nasdaq SmallCap Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange or the Nasdaq National Market (or other reporting system that provides last sale prices) ), has been at least $2.00, 8.00 per share for the a period of 20 consecutive Trading Days trading days ending on the third day prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.

Redemption of Warrants. The Warrants are redeemable by the CompanyCompany commencing twelve (12) months after the Effective Date, in whole or in part, on not less than ten thirty (1030) Business Days days prior written notice at a redemption price of $.01 per WarrantWarrant (or earlier with the prior consent of ▇▇▇▇▇▇▇-▇▇▇▇▇▇), provided the average closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board Nasdaq SmallCap Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the average closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange (or other reporting system that provides last sale prices) ), has been at least $2.00250% of the then current Exercise Price of the Warrants, for the a period of 20 30 consecutive Trading Days trading days ending on the third day within five days prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the CompanyRegister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Warrant Agent or the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption. On and after the date fixed for redemption, the holder shall have no right with respect to the Warrant except to receive $.01 per Warrant upon surrender of the Warrant. Notwithstanding anything to the contrary contained herein, no Warrant will be redeemable unless at the time of redemption, the Company has filed with the Commission a registration statement under the Securities Act, covering the Warrant Shares and such registration statement shall have been declared and shall remain effective and shall be current, and such Warrant Shares have been registered or qualified or be exempt under the securities laws of the state or other jurisdiction of residence of the holder of such Warrant and the redemption of such Warrant in any such state or other jurisdiction shall not otherwise be unlawful.

Redemption of Warrants. The Warrants are redeemable by the CompanyCompany commencing on ______________, 1999 [the second anniversary of the date of the Prospectus relating to the Initial Public Offering] (or earlier with the consent of the Representative), in whole or in part, on not less than ten thirty (1030) Business Days days' prior written notice at a redemption price of $.01 .10 per Warrant, provided the closing bid price quotation of the Common Stock as reported on the OTC Bulletin Board The Nasdaq SmallCap Market, if traded thereon, or in the "pink sheets" as reported by the National Quotation Bureau, Inc., or if not traded thereon, the closing sale price as reported by Bloomberg, L.P., if listed on the Nasdaq Stock market or a national securities exchange or the Nasdaq National Market (or other reporting system that provides last sale prices) ), has been at least $2.00, 8.00 per share for the a period of 20 consecutive Trading Days trading days ending on the third day prior to the date on which the Company gives notice of redemption.. . Any redemption in part shall be made pro rata to all Warrant holders. The redemption notice shall be mailed to the holders of the Warrants at their respective addresses appearing in the Warrant register maintained by the Companyregister. Any such notice mailed in the manner provided herein shall be conclusively presumed to have been duly given in accordance with this Agreement whether or not the registered holder receives such notice. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except as to a registered holder of a Warrant (i) to whom notice was not mailed or (ii) whose notice was defective. An affidavit of the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Holders of the Warrants will have exercise rights until the close of business on the day immediately preceding the date fixed for redemption.