Common use of Exchange and Replacement Clause in Contracts

Exchange and Replacement. Subject to Sections 1 and 7 hereof, this Warrant is exchangeable upon the surrender hereof by the Holder to the Company at its office for new Warrants of like tenor and date representing in the aggregate the right to purchase the number of Warrant Shares purchasable hereunder, each of such new Warrants to represent the right to purchase such number of Warrant Shares (not to exceed the aggregate total number purchasable

Appears in 2 contracts

Sources: Warrant Agreement (Xata Corp /Mn/), Subordinated Bridge Note Purchase Agreement (Intelefilm Corp)