Common use of Warrant Redemption Clause in Contracts

Warrant Redemption. Upon occurrence of the events described in Exhibit A to the Purchase Agreement setting forth the terms fo the Series A Convertible Preferred Stock with respect to redemption, the Company, at the request of Holder, shall redeem all outstanding Warrants that remain unexercised at a redemption price equal to the greater of (x) an appraised value of the Warrants, as determined by Black Sholes, on the date they are called for redemption and (y) the ▇▇▇▇▇r of Warrants being redeemed multiplied by the excess of (A) the average closing bid price of the Common Stock for the five trading days immediately prior to the date that the Warrants are called for redemption over (B) the exercise price of the Warrants.

Warrant Redemption. Upon occurrence of the events described in Exhibit A to the Purchase Agreement setting forth the terms fo the Series A Convertible Preferred Stock with respect to redemption, the Company, at the request of Holder, shall redeem all outstanding Warrants that remain unexercised at a redemption price equal to the greater of (x) an appraised value of the Warrants, as determined by Black Sholes▇▇▇▇▇▇, on the date they are called for redemption and (y) the ▇▇▇▇▇r number of Warrants being redeemed multiplied by the excess of (A) the average closing bid price of the Common Stock for the five trading days immediately prior to the date that the Warrants are called for redemption over (B) the exercise price of the Warrants.