Common use of Conversion of Warrant Clause in Contracts

Conversion of Warrant. The Holder shall have the right to convert this Warrant, in whole or in part, at any time (including, but not limited to, the occurrence of an Acquisition of the Company) and from time to time at or prior to the Expiration Time by the surrender of this Warrant and the Notice of Conversion form attached hereto duly executed to the headquarters office of the Company at the address set forth on the signature page hereof (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of such Holder appearing on the books of the Company), into shares of Warrant Stock as provided in this Section 3. Upon exercise of this conversion right, the Holder shall be entitled to receive that number of shares of the Company's Preferred Stock computed by using the following formula: X(A-B) Y = ------ A Y = the number of shares of Series D Preferred Stock to be issued to the Holder. A = the Fair Market Value (as defined below) of one share of the Company's Series D Preferred Stock on the date of conversion of this Warrant. B = the Exercise Price for one share of the Company's Series D Preferred Stock under this Warrant. X = the number of shares of Series D Preferred Stock that the Holder desires to purchase pursuant to complete or partial conversion of the Warrant. If the above calculation results in a negative number, then no shares of Warrant Stock shall be issued or issuable upon conversion of this Warrant.

Conversion of Warrant. The Holder shall have the right to convert this Warrant, in whole or in part, at any time (including, but not limited to, the occurrence of an either a Qualified IPO or the Acquisition of the Company) and from time to time at or prior to the Expiration Time by the surrender of this Warrant and the Notice of Conversion form attached hereto duly executed to the headquarters headquarter's office of the Company at the address set forth on the signature page hereof (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of such Holder appearing on the books of the Company), into shares of Warrant Stock as provided in this Section 3. Upon exercise of this conversion right, the Holder shall be entitled to receive that number of shares of the Company's Preferred Stock computed by using the following formula: X(AY= X (A-B) Y = ------ A B)/A Y = the number of shares of Series D A Preferred Stock to be issued to the Holder. A = the Fair Market Value (as defined below) of one share of the Company's Series D A Preferred Stock on the date of conversion of this Warrant. B = the Exercise Price for one share of the Company's Series D A Preferred Stock under this Warrant. X = the number of shares of Series D A Preferred Stock that the Holder desires to purchase pursuant to complete or partial conversion of the purchasable under this Warrant. If the above calculation results in a negative number, then no shares of Warrant Stock shall be issued or issuable upon conversion of this Warrant.

Conversion of Warrant. The Holder shall have the right to convert this Warrant, in whole or in part, at any time (including, but not limited to, the occurrence of an Acquisition of the Company) and from time to time at or prior to the Expiration Time by the surrender of this Warrant and the Notice of Conversion form attached hereto duly executed to the headquarters office of the Company at the address set forth on the signature page hereof (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of such Holder appearing on the books of the Company), into shares of Warrant Stock as provided in this Section 3. Upon exercise of this conversion right, the Holder shall be entitled to receive that number of shares of the Company's Preferred Stock computed by using the following formula: X(A-B) Y y = ------ -------- A Y = the number of shares of Series D Preferred Stock to be issued to the Holder. A = the Fair Market Value (as defined below) of one share of the Company's Series D Preferred Stock on the date of conversion of this Warrant. B = the Exercise Price for one share of the Company's Series D Preferred Stock under this Warrant. X = the number of shares of Series D Preferred Stock that the Holder desires to purchase pursuant to complete or partial conversion of the purchasable under this Warrant. If the above calculation results in a negative number, then no shares of Warrant Stock shall be issued or issuable upon conversion of this Warrant.