Common use of Redemption of Warrants by the Company Clause in Contracts

Redemption of Warrants by the Company. The Company shall have the right to redeem any or all of the Warrants at $1.00 per Warrant at any time after September 15, 2000, except that the Warrants may not be so redeemed unless the closing price (as determined in accordance with Section~5.1 hereof) for the Common Stock on any 20 trading days within a period of 30 consecutive trading days ending no more than five days prior to the date upon which notice of call is first mailed is at least 150% of the Exercise Price in effect on such day. Notice of the redemption shall be mailed at least 30 days prior to the date scheduled for such redemption (the "Redemption Date") and shall be given to the Warrant Agent and the Holders in accordance with the provisions of Section~20 hereof. Such notice shall state the date, place and price of such call. The notice of redemption also shall be given no more than 60 nor less than 30 days prior to the mailing of notice to the Holders pursuant to this Section, by publishing, at least once in the Wall Street Journal (national edition), or if such edition is not then published, then in one or more newspapers printed in the English language and in general circulation in New York City, and such notice shall state the date, place and price of such redemption. If fewer than all the Warrants outstanding at the time are to be called, the Company shall give the Warrant Agent written notice as to the aggregate number of Warrants to be called, and thereupon the Warrant Agent shall select the Warrants to be called in such manner as it deems, in its discretion, to be fair and appropriate; provided, that the Warrant Agent shall not be liable to any Holder for such selection and shall be indemnified by the Company pursuant to Section 14(v) for any liability arising out of such selection. Each Holder shall continue to have the right to exercise the Warrant until the close of business on the Business Day which is 15 days prior to the Redemption Date. No less than one Business Day prior to the Redemption Date, the Company shall deposit with the Warrant Agent funds sufficient to purchase all of the Warrants called for redemption which are outstanding at the close of business on the date when the right to exercise expired.

Redemption of Warrants by the Company. The Warrants may be redeemed at the option of the Company, at a redemption price of $.01 per Warrant, at any time after any Determination Date if the Book Value per Share is greater than the Applicable Repurchase Threshold at (i) such Determination Date and, (ii) in the case of any Determination Date other than December 31, 2000, at the end of each of the immediately preceding three fiscal quarters. The Company shall have the right to redeem any or all such number of the Warrants as is equal to (x) in the case of a redemption following the December 31, 2000 Determination Date, the number of Warrants represented hereby multiplied by the Adjustment Factor as at such Determination Date times each $1.00 .01 by which the Book Value per Warrant Share at such Determination Date exceeds the Applicable Repurchase Threshold at such Determination Date, and (y) in the case of any time after September 15redemption on account of any Determination Date other than December 31, 2000, except that all the Warrants may not be so redeemed unless the closing price (as determined in accordance with Section~5.1 hereof) for the Common Stock on any 20 trading days within a period of 30 consecutive trading days ending no more than five days prior to the date upon which notice of call is first mailed is at least 150% of the Exercise Price in effect on such dayWarrants. Notice of the redemption shall be mailed at least 30 days prior to the date scheduled for such redemption (the "Redemption Date") and shall be given to the Warrant Agent and the Holders Holder in accordance with Section 9. From and after the provisions giving of Section~20 hereof. Such notice shall state the date, place and price of such call. The any notice of redemption also redemption, the Holder shall be given no more than 60 nor less than 30 days prior longer have any rights to exercise the Warrants and shall have no rights with respect to the mailing Warrants except to receive the redemption price upon surrender of notice to this Warrant Certificate. All computations of the Holders pursuant to this Section, by publishing, at least once in the Wall Street Journal (national edition), or if such edition is not then published, then in one or more newspapers printed in the English language and in general circulation in New York City, and such notice shall state the date, place and price of such redemption. If fewer than all the Warrants outstanding at the time are to be calledApplicable Repurchase Threshold, the Company shall give the Warrant Agent written notice as to the aggregate number of Warrants to be called, and thereupon the Warrant Agent shall select the Warrants to be called in such manner as it deems, in its discretion, to be fair and appropriate; provided, that the Warrant Agent shall not be liable to any Holder for such selection and shall be indemnified redeemable by the Company pursuant and redemption price shall be adjusted to Section 14(v) for reflect any liability arising out of such selection. Each Holder shall continue to have stock dividends and any stock splits or combinations or similar transactions taking place after the right to exercise Original Issue Date through the Warrant until the close of business on the Business Day which is 15 days prior to the Redemption Determination Date. No less than one Business Day prior to the Redemption Date, the Company shall deposit with the Warrant Agent funds sufficient to purchase all of the Warrants called for redemption which are outstanding at the close of business on the date when the right to exercise expired.