Common use of Duration, Exercise and Redemption of Warrants Clause in Contracts

Duration, Exercise and Redemption of Warrants. (a) The vesting of the Warrant Shares which the Holder is permitted to acquire pursuant to this Warrant shall occur on the dates set forth below. On each such date, this Warrant shall vest on a cumulative basis with respect to a number of Warrant Shares calculated pursuant to Section 3(b) below. Only the Warrant Shares that have vested may be acquired upon exercise of this Warrant. (i) The first Vesting Date (the "First Vesting Date") shall be the thirtieth (30th) Trading Day following the earlier to occur of (A) the Effectiveness Date and (B) the Effectiveness Required Date, provided that if such day is not a business day, the next succeeding business day (the Warrant Shares with respect to which this Warrant is exercisable on the First Vesting Date are called the "Tranche A Warrant Shares"); (ii) The second Vesting Date (the "Second Vesting Date") shall be the sixtieth (60th) Trading Day following the earlier to occur of (A) the Effectiveness Date and (B) the Effectiveness Required Date, provided that if such day is not a business day, the next succeeding business day (the Warrant Shares with respect to which this Warrant is exercisable on the Second Vesting Date are called the "Tranche B Warrant Shares"); and (iii) The third Vesting Date (the "Third Vesting Date," and together with the First Vesting Date and the Second Vesting Date, the "Vesting Dates") shall be the ninetieth (90th) Trading Day following the earlier to occur of (A) the Effectiveness Date and (B) the Effectiveness Required Date, provided that if such day is not a business day, the next succeeding business day (the Warrant Shares with respect to which this Warrant is exercisable on the Third Vesting Date are called the "Tranche C Warrant Shares"). (b) Except as otherwise set forth in this Warrant, this Warrant shall vest and become exercisable on each Vesting Date with respect to the number of Warrant Shares calculated in accordance with the following formula: (Applicable Share Number) x [(Purchase Price x 1.125) - Reset Price] -------------------------------------------------------------------- Reset Price If the number calculated in accordance with the foregoing formula is a negative number, the Holder shall not be obligated to transfer any shares to the Company. On each Vesting Date, the Company shall send a notice to the Holder setting forth in reasonable detail its calculation of the number of Warrant Shares which shall vest and be exercisable on such Vesting Date. For purposes of this Warrant,

Duration, Exercise and Redemption of Warrants. (a) The vesting of the Warrant Shares which the Holder is permitted to acquire pursuant to this Warrant shall occur on the dates set forth below. On each such date, this Warrant shall vest on a cumulative basis with respect to a number of Warrant Shares calculated pursuant to Section 3(b) below. Only the Warrant Shares that have vested may be acquired upon exercise of this Warrant. (i) The first Vesting Date (the "First Vesting Date") shall be the thirtieth thirty-first (30th31st) Trading Day calendar day following the earlier to occur of (A) the Effectiveness Date and (B) the Effectiveness Required Date, provided that if such day is not a business day, the next succeeding business day Date (the Warrant Shares with respect to which this Warrant is exercisable on the First Vesting Date are called the "Tranche A Warrant Shares"); (ii) The second Vesting Date (the "Second Vesting Date") shall be the sixtieth seventy-first (60th71st) Trading Day calendar day following the earlier to occur of (A) the Effectiveness Date and (B) the Effectiveness Required Date, provided that if such day is not a business day, the next succeeding business day Date (the Warrant Shares with respect to which this Warrant is exercisable on the Second Vesting Date are called the "Tranche B Warrant Shares"); and (iii) The third Vesting Date (the "Third Vesting Date," and together with the First Vesting Date and the Second Vesting Date, the "Vesting Dates") shall be the ninetieth one hundred and tenth (90th110th) Trading Day calendar day following the earlier to occur of (A) the Effectiveness Date and (B) the Effectiveness Required Date, provided that if such day is not a business day, the next succeeding business day Date (the Warrant Shares with respect to which this Warrant is exercisable on the Third Vesting Date are called the "Tranche C Warrant Shares"). (b) Except as otherwise set forth in this Warrant, this Warrant shall vest and become exercisable on each Vesting Date with respect to the number of Warrant Shares calculated in accordance with the following formula: (Applicable Share Number) x [(Purchase Price x 1.125) - Reset Price] -------------------------------------------------------------------- Reset Price If the number calculated in accordance with the foregoing formula is a negative number, the Holder shall not be obligated to transfer any shares to the Company. On each Vesting Date, the Company shall send a notice to the Holder setting forth in reasonable detail its calculation of the number of Warrant Shares which shall vest and be exercisable on such Vesting Date. For purposes of this Warrant,: