Common use of General Option Clause in Contracts

General Option. At any time after the period beginning on January 28, 1998, upon 90 days prior written notice to the Company (such notice being herein referred to as the "Put Notice"), provided the Company's stock is no longer publicly traded, the Holder shall have the option to require the Company to purchase this Warrant and/or the Shares of Common Stock issued pursuant hereto (or any portion thereof) for a price equal to the product of (i) the percentage ownership of the Common Stock of the Company represented by this Warrant and the Shares of Common Stock issued pursuant hereto that the Holder wishes to require the Company to purchase under this Section 7(b) (expressed as a decimal and calculated on a fully diluted basis), and (ii) the greater of the following values, all calculated as of the last day of the month immediately preceding the date the Put Notice is delivered to the Company (A) 150% of the net book value of the Company, (B) 400% of the earnings before interest, taxes, depreciation and amortization (less any outstanding funded debt to The Catalyst Fund, Ltd. and other lenders) ("EBITDA") of the Company for the preceding 24

General Option. At any time after the period beginning on January 28, 1998, upon 90 days prior written notice to the Company (such notice being herein referred to as the "Put Notice"), provided the Company's stock is no longer publicly traded, the Holder shall have the option to require the Company to purchase this Warrant and/or the Shares of Common Stock issued pursuant hereto (or any portion thereof) for a price equal to the product of (i) the percentage ownership of the Common Stock of the Company represented by this Warrant and the Shares of Common Stock issued pursuant hereto that the Holder wishes to require the Company to purchase under this Section 7(b) (expressed as a decimal and calculated on a fully diluted basis), and (ii) the greater of the following values, all calculated as of the last day of the month immediately preceding the date the Put Notice is delivered to the Company (A) 150% of the net book value of the Company, (B) 400% of the earnings before interest, taxes, depreciation and amortization (less any outstanding funded debt to The Catalyst Fund, Ltd. and other lenders) ("EBITDA") of the Company for the preceding 24)