ISSUE EXERCISE. In lieu of exercising this Warrant, the Holder may elect to receive Shares of Common Stock equal to the value of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with notice of such election, in which event the Company shall issue to the Holder a number of Shares computed using the following formula: X = Y (A-B) ------- A Where X = the number of the Shares to be issued to the Holder. Y = the number of the Shares purchasable under this Warrant. A = the fair market value of one Share on the date of election under this Section 1(c). B = the Exercise Price divided by Y (as adjusted to the date of such calculation)."
Appears in 2 contracts
Sources: Common Stock Warrant (Integrated Healthcare Holdings Inc), Common Stock Warrant (Integrated Healthcare Holdings Inc)