Common use of Net Issuance Right Clause in Contracts

Net Issuance Right. Notwithstanding the payment provisions set forth above, the Holder may elect to convert this Warrant into shares of Warrant Stock by surrendering this Warrant at the office of the Company at the address set forth in Section 1.1 and delivering to the Company the Notice of Net Issuance Exercise attached as Exhibit B duly completed and executed by the Holder, in which case the Company shall issue to the Holder the number of shares of Warrant Stock of the Company equal to the result obtained by (a) subtracting B from A, (b) multiplying the difference by C, and (c) dividing the product by A as set forth in the following equation: X = (A - B) x C where: A X = the number of shares of Warrant Stock issuable upon net issuance exercise pursuant to the provisions of this Section 1.2. A = the Fair Market Value (as defined below) of one share of Warrant Stock on the date of net issuance exercise. B = the Exercise Price for one share of Warrant Stock under this Warrant. C = the number of shares of Warrant Stock as to which this Warrant is exercisable pursuant to the provisions of Section 1.1. If the foregoing calculation results in a negative number, then no shares of Warrant Stock shall be issued upon net issuance exercise pursuant to this Section 1.2.

Net Issuance Right. Notwithstanding the payment provisions set forth above, the Holder holder may elect to convert this Warrant into shares of Warrant Stock Shares by surrendering this Warrant at the office of the Company at the address set forth in Section 1.1 and delivering to the Company the Notice notice of Net Issuance Exercise attached net issuance exercise annexed as Exhibit B duly completed and executed by the Holderholder, in which case the Company shall issue to the Holder holder the number of shares of Warrant Stock Shares of the Company equal to the result obtained by (a) subtracting B from A, (b) multiplying the difference by C, and (c) dividing the product by A as set forth in the following equation: X = (A - B) x C where: ----------- A X = the number of shares of Warrant Stock Shares issuable upon net issuance exercise pursuant to the provisions of this Section 1.2SECTION 1.02. A = the Fair Market Value (as defined below) of one share of the Warrant Stock Shares on the date of net issuance exercise. B = the Exercise Price for one share of the Warrant Stock Shares under this Warrant. C = the number of shares of Warrant Stock as to which this Warrant is exercisable pursuant to the provisions of Section 1.1. 01. If the foregoing calculation results in a negative number, then no shares of Warrant Stock Shares shall be issued upon net issuance exercise pursuant to this Section 1.2SECTION 1.