Common use of PARTIAL EXERCISE/FRACTIONAL SHARES Clause in Contracts

PARTIAL EXERCISE/FRACTIONAL SHARES. (a) This Warrant may be partially exercised, provided that the amount payable upon each such exercise is not less than $50,000. (b) This Warrant may not be exercised for fractional shares. In the event of fractional shares, the Company shall round the number of Warrant Shares issuable upon such exercise down to the nearest whole share and shall pay an amount in cash to the Holder equal to any such fractional share.