Common use of AUTOMATIC CONVERSION PRIOR TO EXPIRATION Clause in Contracts

AUTOMATIC CONVERSION PRIOR TO EXPIRATION. To the extent this Warrant is not previously exercised, and if the value of one share of the Class of Stock for which this Warrant is then exercisable (determined as of the expiration of this Warrant in the manner provided in Section 7.1(a) or Section 7.1(b), as applicable) is greater than the Warrant Price per share on the expiration date, this Warrant shall be deemed automatically converted in accordance with Section 7.2 hereof (even if not surrendered) immediately before its expiration. To the extent this Warrant or any portion thereof is deemed automatically converted pursuant to this Section 7.4, the Company agrees to notify Holder within a reasonable period of time of the number of shares of the Class of Stock, if any, Holder is to receive by reason of such automatic conversion. The Company shall issue to the Holder certificates for the Shares issued upon such automatic conversion in accordance with Section 7.3 above, although the Company may condition receipt of the certificate upon surrender of the Warrant to the Company.

AUTOMATIC CONVERSION PRIOR TO EXPIRATION. To the extent this Warrant is not previously exercised, and if the value Conversion Price of one share of the Class of Stock for which this Warrant is then exercisable (determined as of the expiration of this Warrant in the manner provided in Section 7.1(a) or Section 7.1(b), as applicable) is greater than the Warrant Price per share on the expiration date, this Warrant shall be deemed automatically converted exercised in accordance with Section 7.2 hereof (even if not surrendered) immediately before its expiration. To the extent this Warrant or any portion thereof is deemed automatically converted exercised pursuant to this Section 7.4, the Company agrees to notify Holder within a reasonable period of time of the number of shares of the Class of Stock, if any, Holder is to receive by reason of such automatic conversionexercise. The Company shall issue to the Holder certificates for the Shares issued upon such automatic conversion in accordance with Section 7.3 above, although the Company may condition receipt of the certificate upon surrender of the Warrant to the Company.