Common use of Right to Convert Clause in Contracts

Right to Convert. The Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHT”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “CONVERTED WARRANT SHARES”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “CONVERTED WARRANT SHARESConverted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = X= Y (A - A-B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant Shares (the “CONVERTED WARRANT SHARESConverted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Exercise Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the WarrantWarrant Shares. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the this Warrant.

Right to Convert. The Holder (a) Subject to the provisions of Section 1.1, at any time or from time on or prior to the Expiration Date, the holder of this Warrant shall also have the right to convert this Warrant or any portion thereof (the “"CONVERSION RIGHT”) "), without payment by the holder of this Warrant of the Exercise Price in cash or any other consideration (other than the surrender of rights to receive Warrant Shares hereunder), into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period 1.2. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant Shares (the “"CONVERTED WARRANT SHARES”"), the Company shall deliver to the Holder holder of this Warrant (without payment by the Holder holder of any exercise price this Warrant of the Exercise Price in cash or any cash or other considerationconsideration (other than the surrender of rights to receive Warrant Shares hereunder)) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: Y(A-B) X = Y (A - B) ------ A Where X = equals the number of shares of Common Stock Shares to be delivered to the Holder upon exercise in accordance with this Section 1.2 Y = equals the number of Converted Warrant Shares A = equals the fair market value of one share of the Company’s Common Stock on the Conversion Date (Current Market Price, as defined below) , and B = equals the Purchase applicable Exercise Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares Warrant Shares shall be issuable upon exercise of the Conversion Right, and if the number of shares Warrant Shares to be issued determined in accordance with the foregoing following formula is other than a whole number, the Company shall pay to the Holder holder of this Warrant an amount in cash equal to the fair market value Current Market Price of the resulting fractional share Warrant Share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the WarrantDate.

Right to Convert. The In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “CONVERTED WARRANT SHARESConverted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A X=Y(A - B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The Holder shall have the right to convert this Warrant or any portion thereof (the “"CONVERSION RIGHT”") into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant Shares (the “"CONVERTED WARRANT SHARES”"), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - B) --------- A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s 's Common Stock on the Conversion Date (as defined below) B = the Purchase Exercise Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the WarrantWarrant Shares. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the this Warrant.

Right to Convert. The Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant Shares (the “CONVERTED WARRANT SHARESConverted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A Y(A - B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Exercise Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the WarrantWarrant Shares. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the this Warrant.

Right to Convert. The Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “CONVERTED WARRANT SHARESConverted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - – B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value (as determined by Section 3.3 below) of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHT”"Conversion Right") into shares of Common Preferred Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “CONVERTED WARRANT SHARES”"Converted Warrant Shares"), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Preferred Stock computed using the following formula: X = Y (A - B) -------------- A Where X = the number of shares of Common Preferred Stock to be delivered to the Holder holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s Common 's Preferred Stock on the Conversion Date (as defined below) B = the Purchase Price per share exercise price of the Warrant (as adjusted through to the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The Subject to the vesting restrictions set forth in Section 2.2 hereof, the Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “CONVERTED WARRANT SHARESConverted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “CONVERTED WARRANT SHARES”Converted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any an cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value (as determined by Section 3.3 below) of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “CONVERTED WARRANT SHARES”Converted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any an cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value (as determined by Section 3.3 below) of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares Approved 10/11/01 issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The In addition to and without limiting the rights of Holder under the terms of this Warrant, Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares Shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period 1(b). Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant Shares (the “CONVERTED WARRANT SHARESConverted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using Shares as is determined according to the following formula: X = B - A Y (A - B) A Where Where: X = the number of shares of Common Stock to Shares that may be delivered issued to the Holder holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s Common Stock on A = the aggregate Warrant Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Date Right (as defined belowi.e., the number of Converted Warrant Shares multiplied by the Warrant Price) B = the Purchase Price (as adjusted through aggregate fair market value of the Conversion Date) The Conversion Right may only be exercised with respect to a whole specified number of shares subject to converted Warrant Shares (i.e., the Warrant. number of Converted Warrant Shares multiplied by the fair market value of one Converted Warrant Shares) No fractional shares shall be issuable upon exercise of the Conversion Right, and and, if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, then the Company shall pay to the Holder an amount in cash equal to the fair market value number of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to upon exercise of the Conversion Right shall be treated as if they were issued upon rounded down to the exercise of the Warrantnearest whole number.

Right to Convert. The In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHT”"Conversion Right") into shares of Common Stock as provided in this Section 3 1.5 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “CONVERTED WARRANT SHARES”"Converted Warrant Shares"), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A X= Y(A - B) ------- A Where X = X= the number of shares of Common Stock to be delivered to the Holder Y = Y= the number of Converted Warrant Shares A = A= the per share fair market value of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = B= the Purchase Exercise Price (as adjusted through to the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The Holder shall have the right to convert this Warrant or any portion thereof (the “"CONVERSION RIGHT”") into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant (the “"CONVERTED WARRANT SHARES”"), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - B) ---------- A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s 's Common Stock on the Conversion Date (as defined below) B = the Purchase Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the Warrant.

Right to Convert. The Holder (a) Subject to the provisions of Section 1.1, at any time or from time on or prior to the Expiration Date, the holder of this Warrant shall also have the right to convert this Warrant or any portion thereof (the “"CONVERSION RIGHT”) "), without payment by the holder of this Warrant of the Exercise Price in cash or any other consideration (other than the surrender of rights to receive Warrant Shares hereunder), into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period 1.2. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant Shares (the “"CONVERTED WARRANT SHARES”"), the Company shall deliver to the Holder holder of this Warrant (without payment by the Holder holder of any exercise price this Warrant of the Exercise Price in cash or any cash or other considerationconsideration (other than the surrender of rights to receive Warrant Shares hereunder)) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - Y(A-B) ------ X= A Where X = equals the number of shares of Common Stock Shares to be delivered to the Holder upon exercise in accordance with this Section 1.2 Y = equals the number of Converted Warrant Shares A = equals the fair market value of one share of the Company’s Common Stock on the Conversion Date (Current Market Price, as defined below) , and B = equals the Purchase applicable Exercise Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the Warrant. No fractional shares Warrant Shares shall be issuable upon exercise of the Conversion Right, and if the number of shares Warrant Shares to be issued determined in accordance with the foregoing following formula is other than a whole number, the Company shall pay to the Holder holder of this Warrant an amount in cash equal to the fair market value Current Market Price of the resulting fractional share Warrant Share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the WarrantDate.

Right to Convert. The Holder shall have the right to convert this Warrant or any portion thereof (the “CONVERSION RIGHTConversion Right”) into shares of Common Stock as provided in this Section 3 at any time or from time to time during the Exercise Period Period. Upon exercise of the Conversion Right with respect to a particular number of shares subject to the Warrant Shares (the “CONVERTED WARRANT SHARESConverted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable shares of Common Stock computed using the following formula: X = Y (A - B) A Where X = the number of shares of Common Stock to be delivered to the Holder Y = the number of Converted Warrant Shares A = the fair market value of one share of the Company’s Common Stock on the Conversion Date (as defined below) B = the Purchase Exercise Price (as adjusted through the Conversion Date) The Conversion Right may only be exercised with respect to a whole number of shares subject to the WarrantWarrant Shares. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as defined below). Shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the this Warrant.