Common use of Net Issuance Clause in Contracts

Net Issuance. In lieu of payment of the Warrant Price described in Section 3(a), the Warrantholder may elect to receive, without the payment by the Warrantholder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion hereof upon surrender of this Warrant, together with delivery of the duly executed net issue election notice attached hereto as Appendix B (the "Net Issuance Election Notice"), to the Company during normal business hours on any business day at the Company's principal executive offices (or such other office or agency of the Company as it may designate by notice to the holder hereof). Thereupon, the Company shall issue to the Warrantholder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: A where "X" equals the number of shares of Common Stock to be issued to the Warrantholder pursuant to this Section 3(b);