Common use of Cancellation and Issuance of New Warrant Clause in Contracts

Cancellation and Issuance of New Warrant. Notwithstanding anything to the contrary contained herein, this Warrant shall be deemed automatically cancelled if the Company completes a reverse stock split of its issued and outstanding Common Stock at an exchange ratio of twenty to one (the "REVERSE STOCK SPLIT") by filing a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to effect the Reverse Stock Split (the "REVERSE STOCK SPLIT COMPLETION DATE"). Promptly after the Reverse Stock Split Completion Date, the Company shall send a notice of such event to the Holder, and upon receipt of such notice, the Holder shall thereafter promptly deliver the original, executed copy of this Warrant to the Company for cancellation. Upon the Company's receipt of the original, executed copy of this Warrant and in exchange therefor, the Company will cause to be issued in the name of and delivered to the Holder hereof the warrant attached hereto as Exhibit A (the "NEW WARRANT"). The issuance and delivery of the New Warrant shall constitute full and complete consideration for the cancellation of this Warrant. For the avoidance of doubt, the number of shares of Common Stock and per share purchase price set forth on the first page of the New Warrant shall not be adjusted as a result

Cancellation and Issuance of New Warrant. Notwithstanding anything to the contrary contained herein, this Warrant shall be deemed automatically cancelled if the Company completes a reverse stock split of its issued and outstanding Common Stock at an exchange ratio of twenty to one (the "REVERSE STOCK SPLIT") by filing a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to effect the Reverse Stock Split (the "REVERSE STOCK SPLIT COMPLETION DATE"). Promptly after the Reverse Stock Split Completion Date, the Company shall send a notice of such event to the Holder, and upon receipt of such notice, the Holder shall thereafter promptly deliver the original, executed copy of this Warrant to the Company for cancellation. Upon the Company's receipt of the original, executed copy of this Warrant and in exchange therefor, the Company will cause to be issued in the name of and delivered to the Holder hereof the warrant attached hereto as Exhibit A (the "NEW WARRANT"). The issuance and delivery of the New Warrant shall constitute full and complete consideration for the cancellation of this Warrant. For the avoidance of doubt, the number of shares of Common Stock and per share purchase price set forth on the first page of the New Warrant shall not be adjusted as a resultresult of the Reverse Stock Split. The Holder shall be deemed to become the holder of, and shall be treated for all purposes as the record holder of, the New Warrant, and such New Warrant shall be deemed to have been issued, immediately upon the Reverse Stock Split Completion Date, notwithstanding that the stock transfer books of the Company shall then be closed or that the New Warrant shall not then be actually delivered to the Holder. The issuance of the New Warrant shall be made without charge to the Holder for any issuance tax with respect thereto or any other cost incurred by the Company in connection with the issuance of the New Warrant.