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Limited Liability Company Agreement

Limited Liability Company Agreement

  13.2. transfer of warrant. subject to compliance with section 10, if applicable, this warrant and all rights hereunder are transferable in whole or in part, without charge to the holder hereof, upon surrender of this warrant with a properly executed form of assignment attached hereto as exhibit b at the principal office of the company. upon any partial transfer, the company shall at its expense issue and deliver to the holder a new warrant of like tenor, in the name of the holder, which shall be exercisable for such number of shares of common stock with respect to which rights under this warrant were not so transferred.

  13.3. replacement of warrant. on receipt by the company of evidence reasonably satisfactory to the company of the loss, theft, destruction or mutilation of this warrant and, in the case of any such loss, theft or destruction of this warrant or, in the case of any such mutilation, on surrender of such warrant to the company at its principal office and cancellation thereof, the company at its expense shall execute and deliver, in lieu thereof, a new warrant of like tenor.

  13.4. adjustments to purchase price and number of shares. notwithstanding any adjustment in the purchase price or in the number or kind of shares of common stock purchasable upon exercise of this warrant, any warrant theretofore or thereafter issued may continue to express the same number and kind of shares of common stock as are stated in this warrant, as initially issued.

  13.5. fractional shares. notwithstanding any adjustment pursuant to section 3 in the number of shares of common stock covered by this warrant or any other provision of this warrant, the company shall not be required to issue fractions of shares upon exercise of this warrant or to distribute certificates which evidence fractional shares. in lieu of fractional shares, the company shall make payment to the holder, at the time of exercise of this warrant as herein provided, in an amount in cash equal to such fraction multiplied by the current market price of a share of common stock on the date of warrant exercise.

  14. remedies; specific performance. the company stipulates that there would be no adequate remedy at law to the holder of this warrant in the event of any default or threatened default by the company in the performance of or compliance with any of the terms of this warrant and accordingly, the company agrees that, in addition to any other remedy to which the holder may be entitled at law or in equity, the holder shall be entitled to seek to compel specific performance of the obligations of the company under this warrant, without the posting of any bond, in accordance with the terms and conditions of this warrant in any court of the united states or any state thereof having jurisdiction, and if any action should be brought in equity to enforce any of the provisions of this warrant, the company shall not raise the defense that there is an adequate remedy at law. except as otherwise provided by law, a delay or omission by the holder hereto in exercising any right or remedy accruing upon any such breach shall not impair the right or remedy or constitute a waiver of or acquiescence in any such breach. no remedy shall be exclusive of any other remedy. all available remedies shall be cumulative.

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