Common use of Exercise; Expiration Date Clause in Contracts

Exercise; Expiration Date. 2.1 This Warrant is exercisable, at the option of the Holder, at any time after issuance and on or before the Expiration Date, upon surrender of this Warrant to the Company together with a duly completed Notice of Exercise, in the form attached hereto as Exhibit A, and payment of an amount equal to the Purchase Price times the number of shares of Common Stock to be purchased upon exercise. In the case of exercise of less than all the shares of Common Stock represented by this Warrant, the Company shall cancel this Warrant upon the surrender thereof and shall execute and deliver a new Warrant for the balance of such shares of Common Stock. 2.2 In lieu of payment of the Purchase Price in cash, the Holder may elect to receive shares of Common Stock equal to the value (as determined below) of this Warrant by surrender of this Warrant together with the Notice of Exercise including notice of such election in which event the Company shall issue to the Holder a number of shares of Common Stock computed using the following formula: X = Y(A-B) A Where: X = the number of shares of Common Stock to be issued to the Holder Y = the number of shares of Common Stock purchasable under this Warrant A = the Fair Market Value (as defined below) of a share of Common Stock B = Purchase Price

Exercise; Expiration Date. 2.1 This Warrant is exercisable, at the option of the Holder, at any time after issuance and on or before the Expiration Date, upon surrender of this Warrant to the Company together with a duly completed Notice of Exercise, in the form attached hereto as Exhibit A, and payment of an amount equal to the Purchase Price times the number of shares of Common Stock to be purchased upon exercise. In the case of exercise of less than all the shares of Common Stock represented by this Warrant, the Company shall cancel this Warrant upon the surrender thereof and shall execute and deliver a new Warrant for the balance of such shares of Common Stock.. Sky Capital LLC Warrant 2.2 In lieu of payment of the Purchase Price in cash, the Holder may elect to receive shares of Common Stock equal to the value (as determined below) of this Warrant by surrender of this Warrant together with the Notice of Exercise including notice of such election in which event the Company shall issue to the Holder a number of shares of Common Stock computed using the following formula: X = Y(A-B) A Where: X = the number of shares of Common Stock to be issued to the Holder Y = the number of shares of Common Stock purchasable under this Warrant A = the Fair Market Value (as defined below) of a share of Common Stock B = Purchase Price