Common use of Next Financing Clause in Contracts

Next Financing. If the Next Financing has occurred prior to June --------------- 30,1999, then this Warrant shall be exercisable for the number of shares of the type of Equity Securities issued in the Next Financing equal to (i) fifteen percent (15%) of the principal amount set forth opposite such Investor's name on Exhibit A to the Loan Agreement, divided by (ii) the Exercise Price. ---------

Next Financing. If the Next Financing has occurred prior to -------------- June --------------- 30,1999, then this Warrant shall be exercisable for the number of shares of the type of Equity Securities issued in the Next Financing equal to (i) fifteen percent (15%) of the principal amount set forth opposite such Investor's name on Exhibit A to the Loan Agreement, divided by (ii) the Exercise --------- Price. ---------.

Next Financing. If the Next Financing has occurred prior to June --------------- -------------- 30,1999, then this Warrant shall be exercisable for the number of shares of the type of Equity Securities securities issued in the Next Financing equal to (i) fifteen percent (15%) of the principal amount set forth opposite such Investor's name on Exhibit A to the Loan Agreement, divided by (ii) the Exercise Price. ---------