Common use of Exercise, Exercise Price, Settlement and Delivery Clause in Contracts

Exercise, Exercise Price, Settlement and Delivery. (a) Subject to the provisions of this Agreement, a holder of Warrants shall have the right to purchase from the Company on or after the occurrence of an Exercise Event (the date of the occurrence of an Exercise Event, the "EXERCISABILITY DATE") and on or prior to the close of business on the Expiration Date one (1) fully paid, registered and non-assessable Share, subject to adjustment in accordance with Article V hereof, at the purchase price of $.01 for each Warrant exercised (the "EXERCISE PRICE"). The number and kind of Shares for which a Warrant may be exercised (the "EXERCISE RATE") shall be subject to adjustment from time to time as set forth in Article V hereof.

Exercise, Exercise Price, Settlement and Delivery. (a) Subject to the provisions of this Agreement, a holder of Warrants shall have the right to purchase from the Company on or after the occurrence of an Exercise Event (the date of the occurrence of an Exercise Event, the "EXERCISABILITY DATE") and on or prior to the close of business on the Expiration Date one (1) fully paid, registered and non-assessable Warrant Share, subject to adjustment in accordance with Article V hereof, at the purchase price of $.01 0.01 for each Warrant exercised (the "EXERCISE PRICE"). The number and kind of Warrant Shares for which a Warrant may be exercised (the "EXERCISE RATE") shall be subject to adjustment from time to time as set forth in Article V hereof.