Determination of Amount. In lieu of the payment of the Exercise Price in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to pay the Exercise Price for the Securities being purchased with this Purchase Option by the surrender to the Company of any exercisable but unexercised portion of this Purchase Option having a "Stock Value" or "Warrant Value" (as defined below), as the case may be, at the close of trading on the last trading day immediately preceding the exercise of this Purchase Option, equal to the Exercise Price multiplied by the number of Securities being purchased upon exercise ("Cashless Exercise Right").
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Sources: Purchase Option Agreement (Teardrop Golf Co), Purchase Option Agreement (Augment Systems Inc), Purchase Option Agreement (Augment Systems Inc)
Determination of Amount. In lieu of the payment of the Exercise Price in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to pay the Exercise Price for the Securities being purchased with this Purchase Option by the surrender to the Company of any exercisable but unexercised portion of this Purchase Option having a "Stock Value" or "Warrant Value" (as defined below), as the case may be, at the close of trading on the last trading day immediately preceding the exercise of this Purchase Option, equal to the Exercise Price multiplied by the number of Securities being purchased upon exercise ("Cashless Exercise Right").trading
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Determination of Amount. In lieu of the payment of the Exercise Price in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to pay the Exercise Price for the Securities being purchased with this Purchase Option by the surrender to the Company of any exercisable but unexercised portion of this Purchase Option having a "Stock Value" or "Warrant Value" (as defined below), as the case may be, at the close of trading on the last trading day immediately preceding the exercise of this Purchase Option, equal to the Exercise Price multiplied by the number of Securities being purchased upon exercise ("Cashless Exercise Conversion Right").
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