Common use of Settlement of Warrants Clause in Contracts

Settlement of Warrants. Net Share Settlement shall apply to each Warrant upon exercise of such Warrant. For any Warrants exercised or deemed exercised hereunder, on the Settlement Date for such Warrants, the Company shall cause to be delivered to the Warrantholder, a number of shares of Common Stock (which in no event will be less than zero) (the “Net Share Amount”) equal to: N = (S × W) (A – B) where: N = the number of shares of Common Stock to be issued to the Warrantholder, rounded down to the nearest whole share; W = the number of Warrants being exercised; S = the Warrant Share Number as of the Exercise Date; A = the Fair Market Value of one share of Common Stock as of the Exercise Date; and B = the Exercise Price as of the Exercise Date.

Settlement of Warrants. Net Share Settlement shall apply to each Warrant upon exercise of such Warrant. For any Warrants exercised or deemed exercised hereunder, on the Settlement Date for such Warrants, the Company shall cause to be delivered to the Warrantholder, a number of shares of Common Stock (which in no event will be less than zero) (the “Net Share Amount”) equal to: N = (S × W) (A – B) where: N = the number of shares of Common Stock to be issued to the Warrantholder, rounded down to the nearest whole share; W = the number of Warrants being exercised; S = the Warrant Share Number as of the Exercise Date; A = the Fair Market Value of one share of Common Stock as of the Exercise Date; and B = the Exercise Price as of the Exercise Date.