Careview Communications, Inc. 8-K
Exhibit 10.01
FIRST
AMENDMENT TO CREDIT AGREEMENT
FIRST
AMENDMENT TO CREDIT AGREEMENT (this “
Amendment
”), dated as of October 7, 2015, is entered into by and among
CAREVIEW COMMUNICATIONS, INC., a Nevada corporation (“
Holdings
”), CAREVIEW COMMUNICATIONS, INC., a Texas corporation
and a wholly-owned subsidiary of Holdings (the “
Borrower
”), and PDL BIOPHARMA, INC., a Delaware corporation,
in its capacity as lender (in such capacity, the “
Lender
”) and in its capacity as agent (in such capacity,
the “
Agent
”).
W
I T N E S S E T H
WHEREAS
the Borrower, the Lender and the Agent have entered into that certain Credit Agreement dated as of June 26, 2015 (the “
Credit
Agreement
”);
WHEREAS
the Borrower has requested that the Lender agree to amend the conditions precedent required to be satisfied prior to the borrowing
by the Borrower of the Tranche One Loan, as set forth herein;
WHEREAS
the Lender is willing to make such amendments to the Credit Agreement upon the terms and conditions set forth herein;
WHEREAS
pursuant to
Section 10.1
of the Credit Agreement, PDL, as the Lender and the Agent, is willing to agree to make such amendments
to the Credit Agreement subject to the terms and conditions set forth herein;
NOW,
THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
Article
I.
DEFINITIONS
1.1
Definitions
. Unless otherwise defined herein or the context
otherwise requires, terms used in this Amendment, including its preamble and recitals, have the meanings provided in the Credit
Agreement.
Article
II.
AMENDMENTS
2.1
Amendments
. Upon satisfaction of the conditions set forth
in
Article III
hereof, the Credit Agreement is hereby amended as follows:
(a)
Section 1.1
(
Definitions
) of the Credit Agreement
is hereby amended by adding, or amending and restating in their entirety, as applicable, the following definitions in alphabetical
order:
“
Bed
Equivalent Units
” means, as of any date of determination, an aggregate number of units equal to (i) 1 unit for each
room control platform; (ii) 2 units for each nurse station monitor; (iii) 14 units for each Headend; and (iv) fractional units
for mobile assets computed by taking the gross revenue for all mobile assets for the last full calendar month ending immediately
prior to the date of determination divided by 60, in the case of each such unit in
clauses (i)
through
(iv)
for
which each of the following
clauses (a)
to
(c)
is true: (a) such unit is mounted (where applicable) and operational,
(b) required personnel have been trained in the use of such unit (where applicable) and (c) the Borrower is receiving revenue
as of such date in respect of such unit.
“
Headend
”
means an individual head-end server operating as the communications center for the CareView Systems that allows such CareView
Systems to communicate over a coaxial cable television infrastructure, in each case (i) that consists of at least two servers,
a switch and a router and (ii) for which the Borrower is charging a monthly service fee.
“
Tranche
One Funding Date
” means the date on which the conditions set forth in Section 4.2 have been satisfied or waived by the
Agent in its sole discretion and the Tranche One Loan is funded.
(b)
Each of the following definitions is hereby deleted from
Section
1.1
(
Definitions
) of the Credit Agreement in its entirety: “Billable CareView System Unit”, “Tranche
One Loan Request Date”, “Tranche One Milestone”, and “Tranche One Milestone Notice”.
(c)
Section 2.1.1(a)
(
Loans
) of the Credit Agreement is
hereby amended and restated in its entirety as follows:
“(a)
on the Tranche One Funding Date, the entire amount of its Tranche One Commitment, after which the Tranche One Commitment shall
terminate in full.”
(d)
Section 4.2
(
Tranche One Loan
) of the Credit Agreement
is hereby amended and restated in its entirety as follows:
4.2
Tranche
One Loan
. The obligation of the Lender to make the Tranche One Loan is subject to the following conditions precedent, each
of which shall be satisfactory in all respects to the Agent and the Lender:
4.2.1
Delivery
of Borrowing Request
. The Borrower shall have delivered to Agent a Borrowing Request requesting that the entire amount of
the Tranche One Commitment be funded on a date that is no less than one Business Day after the date of such Borrowing Request.
4.2.2
Payment
of Closing Fee and Fees and Expenses
. The Borrower shall have paid, on or prior to the Tranche One Funding Date, (i) the Closing
Fee, (ii) all fees and expenses owing and payable to the Agent and the Lender as of such date and (iii) subject to
Section
10.3
, without duplication, all costs and expenses incurred by the Agent and the Lender in connection with the funding of
the
Tranche One Loan which are required to be paid by the Borrower, and shall provide evidence acceptable to the Agent of the foregoing.
4.2.3
Notes
.
A Note in respect of the Tranche One Loan.
4.2.4
Officer’s
Certificate
. A certificate, dated the Tranche One Funding Date and signed by the chief executive officer or the chief financial
officer of each of Holdings and the Borrower, confirming compliance with the conditions set forth in Section 4.2.5, 4.2.6, and
4.2.7.
4.2.5
Representations
and Warranties
. Each representation and warranty by each Loan Party contained herein or in any other Loan Document to which
such Loan Party is a party, shall be true and correct in all material respects (without duplication of any materiality qualifier
contained therein) as of the Tranche One Funding Date (or as of a specific earlier date if such representation or warranty expressly
relates to an earlier date).
4.2.6
No
Default
. No Default or Event of Default shall have occurred and be continuing.
4.2.7
No
Material Adverse Change
. Since December 31, 2014, no event or occurrence shall have occurred that has resulted or could reasonably
be expected to result in a Material Adverse Effect.
(e)
Section 4.3.2
(
Tranche Two Milestone
) of the Credit
Agreement is hereby amended and restated in its entirety as follows:
4.3.2
Tranche
Two Milestone
. On or prior to June 30, 2017, (a) the Borrower shall have placed in service a minimum of 31,500 Bed Equivalent
Units and (b) the Consolidated EBITDA of Holdings, computed on an annualized basis for the three-calendar month period immediately
preceding the Tranche Two Funding Date, shall not be less than $7,000,000 (the foregoing conditions, collectively, the “
Tranche
Two Milestone
”). For the avoidance of doubt, if the Tranche Two Milestone shall have not occurred on or prior to June
30, 2017, the condition set forth in this
Section 4.3.2
shall not be satisfied.
(f)
Section 6.9
(
Tranche One Milestone Notice
) of the
Credit Agreement is hereby deleted in its entirety and replaced with “[RESERVED]”.
Article
III.
CONDITIONS TO EFFECTIVENESS
This
Amendment shall be and become effective (the “
Closing
”) on the date (the “
First Amendment Effective
Date
”) all of the conditions set forth in this
Article III
shall have been satisfied (or waived by the Agent
and the Lender in its sole discretion in accordance with
Section 10.1
of the Credit Agreement):
3.1
Counterparts
. The Agent shall have received counterparts
to this Amendment duly executed by each of Holdings, the Borrower, the Lender and the Agent.
3.2
Fees and Expenses
. The Agent shall have received, by wire
transfer of immediately available funds to an account of the Agent designated in writing, reimbursement from the Borrower of all
costs and expenses incurred by the Agent and the Lender in connection with this Amendment and the transactions contemplated hereby,
including any and all fees payable or owed to Gibson, Dunn & Crutcher LLP in connection with the drafting, negotiation, and
execution of this Amendment.
3.3
Amendment and Restatement of Warrants
. The Agent shall have
received counterparts duly executed by Holdings of amended and restated Warrants (the “
Amended and Restated Warrants
”),
which Amended and Restated Warrants shall provide for an exercise price of $0.40 per share and be in a form reasonably acceptable
to the Agent.
3.4
Representations and Warranties
. Both prior to and after giving
effect to this Amendment, each representation and warranty by each Loan Party that is a party hereto contained herein or in any
other Loan Document to which such Loan Party is a party, shall be true and correct in all material respects (without duplication
of any materiality qualifier contained therein) on and as of the First Amendment Effective Date (or as of a specific earlier date
if such representation or warranty expressly relates to an earlier date).
3.5
Event of Default
. Both prior to and giving effect to this
Amendment, no Default or Event of Default shall have occurred and be continuing, and no Default or Event of Default shall result
from the execution and delivery of this Amendment and the consummation of the transactions contemplated herein.
3.6
No Material Adverse Effect
. Since December 31, 2014, no event
or occurrence shall have occurred that has resulted or could reasonably be expected to result in a Material Adverse Effect.
Article
IV.
REPRESENTATIONS AND WARRANTIES
4.1
Representations and Warranties of Loan Parties
. In order
to induce the Agent and the Lender to enter into this Amendment, each of Holdings and the Borrower hereby represents and warrants
to the Agent and the Lender that as of the date hereof, both prior to and after giving effect to this Amendment:
(a)
Organization
. Holdings is a corporation validly existing
and in good standing under the laws of the State of Nevada; the Borrower is a corporation validly existing and in good standing
under the laws of the State of Texas; and each other Loan Party and each of its Subsidiaries is duly organized, validly existing
and in good standing (as applicable) under the laws of the jurisdiction of its incorporation or organization. Each Loan Party
has all power and authority and all material governmental approvals required for the ownership and operation of its properties
and the conduct of its business as now conducted and as proposed to be conducted and is qualified to do business, and is in good
standing (as applicable), in every jurisdiction where, because of the nature of its activities or properties, such qualification
is required, except for such
jurisdictions
where the failure to so qualify could not reasonably be expected to have a Material Adverse Effect.
(b)
Due Authorization
. The execution, delivery and performance
of this Amendment, and the performance of its obligations under the Credit Agreement as amended hereby, have been duly authorized
by all necessary action on the part of each Loan Party that is a party hereto.
(c)
No Conflict
. The execution, delivery and performance of this
Amendment by each Loan Party that is a party hereto and the consummation of the transactions contemplated hereby do not and will
not (a) require any consent or approval of, or registration or filing with or any other action by, any Governmental Authority
(other than any consent or approval which has been obtained and is in full force and effect), (b) conflict with (i) any provision
of material Applicable Law, (ii) the charter, by-laws, limited liability company agreement, partnership agreement or other organizational
documents of any Loan Party or (iii) any material agreement, indenture, instrument or other document, or any judgment, order or
decree, which is binding upon any Loan Party or any of their respective properties or (c) require, or result in, the creation
or imposition of any Lien on any asset of Holdings, the Borrower or any other Loan Party (other than Liens in favor of the Agent
created pursuant to the Collateral Documents).
(d)
Incorporation of Representations and Warranties from Loan Documents
.
Each representation and warranty by each Loan Party that is a party hereto contained in the Credit Agreement or in any other Loan
Document to which such Loan Party is a party is true and correct in all material respects (without duplication of any materiality
qualifier contained therein) as of the date hereof (or as of a specific earlier date if such representation or warranty expressly
relates to an earlier date).
(e)
No Default
. Both prior to and after giving effect to this
Amendment, no Default or Event of Default has occurred and is continuing, and no Default or Event of Default will result from
the execution and delivery of this Amendment and the consummation of the transactions contemplated herein.
(f)
No Material Adverse Effect
. Since December 31, 2014, no event
or occurrence has occurred that has resulted or could reasonably be expected to result in a Material Adverse Effect.
(g)
Validity; Binding Nature
. This Amendment has been duly executed
by each Loan Party that is a party hereto, and each of (i) this Amendment and (ii) the Credit Agreement as amended hereby is the
legal, valid and binding obligation of each Loan Party that is a party hereto, enforceable against such Person in accordance with
its terms, subject to bankruptcy, insolvency and similar laws affecting the enforceability of creditors’ rights generally
and to general principles of equity.
Article
V.
MISCELLANEOUS
5.1
Loan Document
. This Amendment is a Loan Document executed
pursuant to the Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied
in accordance with the terms and provisions of the Credit Agreement.
5.2
Effect of Amendment
. Except as expressly set forth herein,
this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect, the rights and
remedies of the parties to the Credit Agreement and shall not alter, modify, amend or in any way affect any of the terms or conditions
contained therein, all of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing
herein shall be deemed to entitle any Loan Party to any future consent with respect to, or waiver, amendment, modification or
other change of, any of the terms or conditions contained in the Credit Agreement in similar or different circumstances. Except
as expressly stated herein, the Agent and the Lender reserve all rights, privileges and remedies under the Loan Documents. All
references in the Credit Agreement and the other Loan Documents to the Credit Agreement shall be deemed to be references to the
Credit Agreement as modified hereby.
5.3
Reaffirmation
. Each of Holdings and the Borrower hereby reaffirms
its obligations under each Loan Document to which it is a party. Each of Holdings and the Borrower hereby further ratifies and
reaffirms the validity and enforceability of all of the liens and security interests heretofore granted, pursuant to and in connection
with the Guarantee and Collateral Agreement or any other Loan Document, to the Agent, as collateral security for the obligations
under the Loan Documents in accordance with their respective terms, and acknowledges that all of such liens and security interests,
and all Collateral heretofore pledged as security for such obligations, continue to be and remain collateral for such obligations
from and after the date hereof.
5.4
Counterparts
. This Amendment may be executed by the parties
hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but
one and the same agreement. Delivery of an executed signature page of this Amendment by facsimile transmission or electronic transmission
shall be as effective as delivery of a manually executed counterpart hereof.
5.5
Construction; Captions
. Each party hereto hereby acknowledges
that all parties hereto participated equally in the negotiation and drafting of this Amendment and that, accordingly, no court
construing this Amendment shall construe it more stringently against one party than against the other. The captions and headings
of this Amendment are for convenience of reference only and shall not affect the interpretation of this Amendment.
5.6
Successors and Assigns
. This Amendment shall be binding upon
and inure to the benefit of the parties hereto and their respective successors and assigns (as permitted under the Credit Agreement).
5.7
Governing Law
. This Amendment,
the rights and obligations of the parties hereto, and any claims or disputes relating thereto shall be governed by and construed
in accordance with THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES (OTHER THAN SECTION
5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
5.8
Severability
. The illegality or unenforceability of any provision
of this Amendment or any instrument or agreement required hereunder shall not in any way affect or
impair
the legality or enforceability of the remaining provisions of this Amendment or any instrument or agreement required hereunder.
5.9
Release of Claims
. In consideration of the Lender’s
and Agent’s agreements contained in this Amendment, each of Holdings and Borrower hereby releases and discharges the Lender
and the Agent and their affiliates, subsidiaries, successors, assigns, directors, officers, employees, agents, consultants and
attorneys (each, a “
Released Person
”) of and from any and all other claims, suits, actions, investigations,
proceedings or demands, whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute
or common law of any kind or character, known or unknown, which Holdings or Borrower ever had or now has against the Agent, any
Lender or any other Released Person which relates, directly or indirectly, to any acts or omissions of the Agent, any Lender or
any other Released Person relating to the Credit Agreement or any other Loan Document on or prior to the date hereof.
[
Signature
page follows
]
IN
WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be duly executed and delivered as of the date first above
written.
HOLDINGS:
CAREVIEW
COMMUNICATIONS, INC.,
a
Nevada corporation
By:
/s/
Steven Johnson
Name:
Steven Johnson
Title:
President and CEO
BORROWER:
CAREVIEW
COMMUNICATIONS, INC.,
a
Texas corporation
By:
/s/ Steven Johnson
Name:
Steven Johnson
Title:
President and CEO
LENDER:
PDL
BIOPHARMA, INC.
By:
/s/
John P. McLaughlin
Name:
John P. McLaughlin
Title:
President and Chief Executive Officer
AGENT:
PDL
BIOPHARMA, INC.
By:
/s/ John P. McLaughlin
Name:
John P. McLaughlin
Title:
President and Chief Executive Office
[
Signature
Page to First Amendment to Credit Agreement
]
Careview Communications, Inc. 8-K
Exhibit 10.07
Execution Version
THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT
WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED. SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, DISTRIBUTED, TRANSFERRED OR OTHERWISE
DISPOSED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN EXEMPTION FROM
SUCH REGISTRATION REQUIREMENTS.
|
Date of Issuance: October 7, 2015
|
Number
of Shares: 4,444,445
(subject to adjustment)
|
AMENDED AND RESTATED
WARRANT TO PURCHASE COMMON STOCK OF
CAREVIEW COMMUNICATIONS, INC.
CareView Communications, Inc., a Nevada
corporation (the “
Company
”), for value received, hereby certifies that PDL BioPharma, Inc., a Delaware corporation,
or its registered assigns (the “
Registered Holder
”), is entitled, subject to the terms set forth herein, to
purchase from the Company, at any time after the date hereof and on or before October 7, 2025 (the “
Expiration Date
”),
up to Four Million Four Hundred and Forty Four Thousand Four Hundred and Forty Five (4,444,445) shares, as adjusted from time to
time pursuant to the provisions of this Amended and Restated Warrant (this “
Warrant
”), of common stock of the
Company, par value $0.001 (“
Common Stock
”), at an exercise price of $0.40 per share. The securities issuable
upon exercise of this Warrant and the exercise price per share, each as adjusted from time to time pursuant to the provisions of
this Warrant, are sometimes hereinafter referred to as the “
Warrant Stock
” and the “
Exercise Price
,”
respectively.
This Warrant is issued pursuant to that
certain Credit Agreement dated as of June 26, 2015, as amended by that certain First Amendment to Credit Agreement, dated as of
October 7, 2015 (as amended, the “
Credit Agreement
”), by and among the Company, CareView Communications, Inc.,
a Texas corporation and a wholly-owned subsidiary of the Company, and PDL BioPharma, Inc.
This Warrant amends and restates in its
entirety that certain Warrant to Purchase Common Stock originally issued to the Registered Holder on June 26, 2015 to reduce the
initial Exercise Price to $0.40 per share, subject to adjustment from time to time pursuant to the provisions of this Warrant.
1.
EXERCISE OF WARRANT
Section
1.1
Payment
.
Subject to compliance with the terms and conditions of this Warrant and applicable securities laws, this Warrant may be exercised
by the Registered Holder, in whole or in part, at any time or from time to time, on or before the Expiration Date by (a) surrender
of this Warrant at the principal office of the Company, or such other office or agency as the Company may designate, together with
the form of Notice of Exercise attached hereto as
Exhibit A
(the “
Notice of Exercise
”) duly
executed by the Registered Holder or by such Registered Holder’s duly authorized attorney, and (b) payment in full of
the aggregate Exercise Price payable in respect of the number of shares of Warrant Stock purchased upon such exercise (the “
Purchase
Price
”), unless the Registered Holder elects a net issue exercise in accordance with Section 1.2. The Purchase Price
may be paid by (i) cash, check or wire transfer of immediately available funds to the Company, (ii) cancellation and
surrender by the Registered Holder of promissory notes or other instruments representing indebtedness of the Company to the Registered
Holder or (iii) a combination of (i) and (ii).
Section
1.2
Net
Issue Exercise
.
(a)
In lieu of exercising this Warrant in the manner provided in Section 1.1, the Registered Holder may elect to receive
shares of Warrant Stock equal to the value of this Warrant (or the portion thereof being exercised and canceled) by surrender of
this Warrant at the principal office of the Company, or such other office or agency as the Company may designate, together with
the Notice of Exercise duly executed by the Registered Holder or such Registered Holder’s duly authorized attorney, in which
event the Company shall issue to the Registered Holder a number of shares of Warrant Stock computed using the following formula:
X =
Y (A - B)
A
Where X = The number of shares
of Warrant Stock to be issued to the Registered Holder.
Y = The number of shares
of Warrant Stock being purchased under this Warrant pursuant to the Notice of Exercise (as adjusted to the date of such calculation).
A = The Fair Market Value
of one share of Warrant Stock (as adjusted to the date of such calculation).
B = The Exercise Price (as
adjusted to the date of such calculation).
All references herein to an “exercise” of the
Warrant in this Warrant shall include an exchange pursuant to this Section 1.2.
(b)
For purposes of this Warrant, the term “Fair Market Value” of a share of Warrant Stock as of a particular
date shall mean:
(i)
If the Common Stock is traded on a securities exchange or Nasdaq, the Fair Market Value shall be deemed to be the
average of the closing prices thereof on such exchange or market over the 30 trading days ending immediately prior to (but not
including) the applicable date of valuation;
(ii)
If the Common Stock is actively traded over-the-counter, the Fair Market Value shall be deemed to be the average
of the closing bid prices over the 30-day period ending immediately prior to (but not including) the applicable date of valuation;
(iii)
If there is no active public market for the Common Stock but there is an active public market for a class or series
of capital stock of the Company into which the Common Stock is convertible, then if such class or series of capital stock is:
(A)
traded on a securities exchange or Nasdaq, the Fair Market Value shall be deemed to be the average of the closing
prices of a share of such class or series of capital stock of the Company on such exchange or market over the five trading days
ending immediately prior to (but not including) the applicable date of valuation multiplied by the number of shares of such class
or series of capital stock into which one share of the Common Stock is convertible, or
(B)
actively traded over-the-counter, the Fair Market Value shall be deemed to be the average of the closing bid prices
for a share of such class or series of capital stock of the Company over the 30-day period ending immediately prior to (but
not including) the applicable date of valuation multiplied by the number of shares of such class or series of capital stock into
which one share of the Common Stock is convertible; or
(iv)
If there is no active public market for the Common Stock or any other class or series of capital stock of the Company
into which the Common Stock is convertible, the Fair Market Value shall be the highest price which the Company could obtain on
the date of calculation from a willing buyer (not a current employee or director) for shares of Common Stock sold by the Company,
from authorized but unissued shares, as reasonably determined in good faith by the Board of Directors.
Section
1.3
Effective
Time of Exercise
. The exercise of this Warrant in whole or in part shall be deemed to have been effected immediately prior
to the close of business on the day on which a Notice of Exercise with respect to this Warrant shall have been surrendered to the
Company as provided in Section 1.1 or Section 1.2 above, as applicable. The person entitled to receive shares of Warrant Stock
issuable upon exercise of this Warrant in whole or in part shall be treated for all purposes as the holder of record
of such shares as of the close of business on the date
the Registered Holder is deemed to have exercised this Warrant.
Section
1.4
Stock
Certificates; Fractional Shares; Partial Exercise
.
(a)
As soon as practicable on or after the date of exercise determined in accordance with Section 1.3, the Company shall
issue the number of shares of Warrant Stock to which the Registered Holder is entitled upon the exercise. On or before the first
business day following the date of any exercise of this Warrant, the Company shall transmit by facsimile an acknowledgment of confirmation
of receipt of the Notice of Exercise to the Registered Holder and the Company’s transfer agent (the “
Transfer Agent
”).
On or before the third business day following the date of any exercise of this Warrant, the Company shall (A) provided that
the Transfer Agent is participating in The Depository Trust Company (“
DTC
”) Fast Automated Securities Transfer
Program, upon the request of the Registered Holder, credit the aggregate number of Warrant Stock to which the Registered Holder
is entitled pursuant to such exercise to the Registered Holder’s or its designee’s balance account with DTC through
its Deposit Withdrawal At Custodian system, or (B) if the Transfer Agent is not participating in the DTC Fast Automated Securities
Transfer Program, issue and deliver by overnight courier to the address as specified in the Notice of Exercise, a certificate,
registered in the Company’s share register in the name of the Registered Holder or its designee, for the number of shares
of Warrant Stock to which the Registered Holder is entitled pursuant to such exercise. The Company shall be responsible for all
fees and expenses of the Transfer Agent and all fees and expenses with respect to the issuance of Warrant Stock via DTC, if any.
Any certificates so delivered shall be in such denominations as may be requested by the Registered Holder and shall be registered
in the name of the Registered Holder or such other name as shall be designated by the Registered Holder, as specified in the Notice
of Exercise.
(b)
No fractional shares or scrip representing fractional shares shall be issued upon an exercise of this Warrant. In
lieu of any fraction shares which would otherwise be issuable, the Company shall pay cash equal to the product of such fraction
multiplied by the Fair Market Value of one share of Warrant Stock on the date of exercise determined in accordance with Section
1.3.
(c)
In case of any partial exercise of this Warrant, the Company shall cancel this Warrant and shall execute and deliver
a new warrant or warrants (dated the date hereof) of like terms and with the same date, calling in the aggregate on the face or
faces thereof for the number of shares of Warrant Stock equal (without giving effect to any adjustment thereof) to the number of
such shares called for on the face of this Warrant minus the number of such shares purchased by the Registered Holder upon such
exercise as provided in this Section 1 (without giving effect to any adjustment thereof).
2.
ADJUSTMENT OF NUMBER OF SHARES AND EXERCISE PRICE
The number of shares of Warrant Stock
issuable upon exercise of this Warrant and the Exercise Price are subject to adjustment as follows:
Section
2.1
Adjustment for Stock Splits, Stock Subdivisions or Combinations of Shares.
If
all or any portion of the outstanding shares of the Common Stock shall be subdivided into a greater number of shares, the Exercise
Price in effect immediately prior to such subdivision shall, simultaneously with the effectiveness of such subdivision, be proportionately
reduced. If all or any portion of the outstanding shares of the Common Stock shall be combined into a smaller number of shares,
the Exercise Price in effect immediately prior to such combination shall, simultaneously with the effectiveness of such combination,
be proportionately increased. When any adjustment is required to be made in the Exercise Price, the number of shares of Warrant
Stock purchasable upon the exercise of this Warrant shall be changed to the number determined by dividing (a) an amount equal
to the number of shares issuable upon the exercise of this Warrant immediately prior to such adjustment, multiplied by the Exercise
Price in effect immediately prior to such adjustment, by (b) the Exercise Price in effect immediately after such adjustment.
Section
2.2
Adjustment
for Dividends or Distributions of Stock or Other Securities or Property
. In case the Company shall make or issue, or shall
fix a record date for the determination of eligible holders entitled to receive, a dividend or other distribution with respect
to all or any portion of the outstanding shares of the Common Stock payable in (a) securities of the Company or (b) assets
(excluding cash dividends paid or payable solely out of retained earnings), then, in each such case, the Registered Holder on exercise
hereof at any time after the consummation, effective date or record date of such dividend or other distribution, shall receive,
in addition to the shares of Warrant Stock issuable on such exercise prior to such date, and without the payment of additional
consideration therefor, the securities or such other assets of the Company to which the Registered Holder would have been entitled
upon such date if the Registered Holder had exercised this Warrant on the date hereof and had thereafter, during the period from
the date hereof to and including the date of such exercise, retained such shares and/or all other additional stock available by
it as aforesaid during such period giving effect to all adjustments called for by this Section 2.
Section
2.3
Reclassification
.
If the Company, by reclassification of securities or otherwise, shall change the Common Stock into the same or a different number
of securities of any other class or classes, this Warrant shall thereafter represent the right to acquire such number and kind
of securities as would have been issuable as the result of such change with respect to the Common Stock immediately prior to such
reclassification or other change and the Exercise Price therefore shall be appropriately adjusted, all subject to further adjustment
as provided in this Section 2. No adjustment shall be made pursuant to this Section 2.3 upon any conversion or redemption of Common
Stock which is the subject of Section 2.5.
Section
2.4
Adjustment
for Capital Reorganization, Merger or Consolidation
. In case of any capital reorganization of the capital stock of the Company
(other than a combination, reclassification, exchange or subdivision of shares otherwise provided for herein), any Acquisition
or any other merger or consolidation of the Company with or into another organization, or the sale of all or substantially all
the assets of the Company then,
and in each such case, as a part of such transaction,
lawful provision shall be made so that the Registered Holder shall thereafter be entitled to receive upon exercise of this Warrant,
during the period specified herein and upon payment of the applicable Purchase Price, the number of shares of stock or other securities
or property of the successor organization resulting from such transaction that a holder of the securities deliverable upon exercise
of this Warrant would have been entitled to receive in such transaction if this Warrant had been exercised immediately before
such transaction, all subject to further adjustment as provided in this Section 2. The foregoing provisions of this Section 2.4
shall similarly apply to successive acquisitions, reorganizations, consolidations, mergers, sales, transfers and similar transactions
and to the stock or securities of any other organizations that are at the time receivable upon the exercise of this Warrant. If
the per-share consideration payable to the Registered Holder for shares in connection with any such transaction is in a form other
than cash, then the provisions of Section 1.2(b) shall be applied except that each reference to Warrant Stock shall be replaced
by the consideration payable in connection with such transaction. If the provisions of Section 1.2(b) cannot be applied to value
such consideration, then the value of such consideration shall be determined in good faith by the Company’s Board of Directors.
In all events, appropriate adjustment, as determined in good faith by the Company’s Board of Directors, shall be made in
the application of the provisions of this Warrant with respect to the rights and interests of the Registered Holder after the
transaction, to the end that the provisions of this Warrant shall be applicable after that event, as near as reasonably may be,
in relation to any shares or other property deliverable after that event upon exercise of this Warrant.
Section
2.5
Conversion
of Warrant Stock
. In case all or any portion of the outstanding shares of the Common Stock are redeemed or converted into other
securities or property pursuant to the Company’s Articles of Incorporation or otherwise, or the Common Stock otherwise ceases
to exist, then, in such case, the Registered Holder of this Warrant, upon exercise hereof at any time after the date on which the
Common Stock is so redeemed or converted, or ceases to exist (the “
Termination Date
”), shall receive, in lieu
of the number of shares of Warrant Stock that would have been issuable upon such exercise immediately prior to the Termination
Date, the securities or property that would have been received if this Warrant had been exercised in full and the Warrant Stock
received thereupon had been simultaneously converted immediately prior to the Termination Date, all subject to further adjustment
as provided in this Warrant. Additionally, the Exercise Price shall be immediately adjusted to equal the quotient obtained by dividing
(a) the aggregate Purchase Price of the maximum number of shares of Warrant Stock for which this Warrant was exercisable immediately
prior to the Termination Date by (b) the number of shares of Warrant Stock for which this Warrant is exercisable immediately
after the Termination Date, all subject to further adjustment as provided herein.
Section
2.6
Certificate
as to Adjustments
. When any adjustment in the Exercise Price or the number or type of shares issuable upon exercise of this
Warrant is required to be made pursuant to this Section 2, the Chief Financial Officer or Controller of the Company shall compute
such adjustment in accordance with the terms of this Warrant and prepare a certificate setting forth (a) a brief statement of the
facts upon which
such adjustment is based, (b) the Exercise Price after
such adjustment and (c) the kind and amount of stock into which this Warrant shall be exercisable after such adjustment. The Company
shall promptly send (by electronic transmission and/or facsimile and by either first class mail, postage prepaid or overnight delivery)
a copy of each such certificate to the Registered Holder.
3.
TRANSFERS
Section
3.1
Unregistered
Securities
. Each holder of this Warrant acknowledges that this Warrant and the Warrant Stock have not been registered under
the Securities Act of 1933, as amended (the “
Securities Act
”), and agrees not to sell, offer for sale, pledge,
hypothecate, distribute, transfer or otherwise dispose of this Warrant or any Warrant Stock issued upon its exercise in the absence
of (a) an effective registration statement under the Securities Act as to this Warrant or such Warrant Stock and registration or
qualification of this Warrant or such Warrant Stock under any applicable state securities law then in effect, (b) an applicable
exemption from such registration requirements of the Securities Act and registration or qualification requirements under any applicable
state securities law then in effect or (c) the availability of Rule 144 promulgated under the Securities Act for the sale
of such securities. Each certificate or other instrument for Warrant Stock issued upon the exercise of this Warrant pursuant to
Section 1.4(a) shall bear a legend as follows, unless issued or sold pursuant to an effective registration statement or if, in
the reasonable opinion of securities counsel for the Company, such legend is not necessary:
“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE
BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF AND HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. SUCH SHARES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED,
DISTRIBUTED, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY RECEIVES AN OPINION
OF COUNSEL SATISFACTORY TO THE COMPANY STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY
REQUIREMENTS OF SAID ACT.”
Section
3.2
Transferability
.
(a)
This Warrant and all rights and obligations hereunder may be transferred to any person, in whole or in part, on the
books of the Company maintained pursuant to Section 3.3 upon surrender of the Warrant with a properly executed form of Assignment
attached hereto as
Exhibit B
(the “
Form of Assignment
”) at the principal office of the Company.
Upon the proper surrender by the Registered Holder of the Warrant, the Company will issue and deliver to or upon the order of the
Registered Holder a new Warrant or Warrants of like tenor as such Registered Holder may direct, calling in
the aggregate on the face or faces thereof for the number
of shares of Warrant Stock called for on the face of the Warrant so surrendered.
(b)
Each holder of this Warrant, by holding the same, consents and agrees that when this Warrant shall have been so endorsed,
the person in possession of this Warrant may be treated by the Company, and all other persons dealing with this Warrant, as the
absolute owner hereof and as the Registered Holder for any purpose and as the person entitled to exercise the rights represented
hereby, any notice to the contrary notwithstanding;
provided
,
however
that until a transfer of this Warrant is properly
made pursuant to the terms of this Warrant and duly registered on the books of the Company maintained pursuant to Section 3.3,
the Company may treat the Registered Holder hereof as the owner for all purposes.
Section
3.3
Warrant
Register
. The Company or its agent will maintain a register containing the names and addresses of the Registered Holder of
this Warrant, and will promptly update such register to reflect any transfers in compliance with the terms hereof. Until any transfer
of this Warrant is reflected in the warrant register maintained pursuant to this Section 3.3, the Company may treat the Registered
Holder of this Warrant as the absolute owner hereof for all purposes. Any Registered Holder may change such Registered Holder’s
address as shown on the warrant register by written notice to the Company requesting such change.
4.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
The Company hereby represents and warrants
to the Registered Holder as follows:
Section
4.1
Authorization;
Enforceability
. The Company has full corporate power and authority to execute and deliver this Warrant, to perform its obligations
hereunder and to consummate the transactions contemplated hereby, including the authorization, issuance and delivery of the Warrant
Stock. The execution, delivery and performance by the Company of this Warrant and the consummation by the Company of the transactions
contemplated hereby have been duly and validly authorized by the Board of Directors of the Company. This Warrant has been duly
executed and delivered by the Company and constitutes the legal, valid and binding obligation of the Company, enforceable against
the Company in accordance with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether
considered in a proceeding in equity or at law).
Section
4.2
Valid
Issuance of Securities
. The Warrant Stock to be issued hereunder, when issued, sold and delivered in accordance with the terms
hereof for the consideration expressed herein, will be duly and validly issued, fully paid and nonassessable and free of restrictions
on transfer other than restrictions on transfer under this Warrant and applicable state and federal securities laws and liens or
encumbrances created by or imposed by the Registered Holder.
Section
4.3
Government Consents.
No consent, approval, order or authorization of, or registration, qualification, designation, declaration
or filing with, any federal, state or local governmental authority on the part of the Company is required in connection with the
issuance of the Warrant or the Warrant Stock by the Company.
Section
4.4
No
Conflict
. The execution and delivery of this Warrant and the performance of the Company’s obligations hereunder, including
the issuance of the Warrant Stock, (a) will not result in any violation of the Company’s Articles of Incorporation or Bylaws
or (b) be in conflict with or constitute, with or without the passage of time or giving of notice, either or both a material violation
or default under any material agreement, instrument, judgment, order, writ, decree or contract or an event which results in the
creation of any material lien, charge or encumbrance upon any assets of the Company or cause an acceleration of any obligation
under any such material agreement, instrument, judgment, order, writ, decree or contract.
5.
REPRESENTATIONS AND WARRANTIES OF THE REGISTERED HOLDER
The Registered Holder hereby represents
and warrants to the Company as follows:
Section
5.1
Certain
Securities Laws Matters
. By acceptance of this Warrant, the Registered Holder hereby confirms that this Warrant is acquired
for investment only and not with a view to, or for sale in connection with, any distribution; that the Registered Holder has had
such opportunity as such Registered Holder has deemed adequate to obtain from representatives of the Company such information as
is necessary to permit the Registered Holder to evaluate the merits and risks of its investment in the Company; that the Registered
Holder is able to bear the economic risk of holding the Warrant and/or the Warrant Stock (or any shares of stock or other securities
at the time issuable upon exercise of the Warrant) for an indefinite period; that the Registered Holder understands that this Warrant
and the Warrant Stock (or any shares of stock or other securities at the time issuable upon exercise of the Warrant) are not and
will not be registered under the Securities Act except as set forth in in the Registration Rights Agreement (as defined in Section
6.4 hereof) and will be “restricted securities” within the meaning of Rule 144 under the Securities Act; and that the
Registered Holder is an “accredited investor” as such term is defined in Rule 501 of Regulation D promulgated under
the Securities Act.
6.
COVENANTS OF THE COMPANY
Section
6.1
Reservation
and Listing of Securities
. The Company hereby covenants that (a) at all times there shall be reserved for issuance and
delivery upon exercise of this Warrant such number of shares of Common Stock as may be issuable from time to time upon exercise
hereof in full and, from time to time, will take all steps necessary to amend its Articles of Incorporation to provide sufficient
reserves of shares of Common Stock, and (b) it will cause the Warrant Stock to be authorized to be listed on a securities
exchange or Nasdaq if the Common Stock is listed on such exchange or Nasdaq.
Section 6.2
No Impairment.
The Company will not, by amendment of its
Articles of Incorporation or Bylaws, or through reorganization, consolidation, merger, dissolution, issue or sale of securities,
sale of assets or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action
as may be necessary or appropriate in order to protect the rights of the Registered Holder against impairment.
Section
6.3
Replacement
Warrants
. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant, the Company will issue, in lieu thereof, a new Warrant of like tenor.
Section
6.4
Registration
Rights
. All shares of Warrant Stock are subject to that certain Registration Rights Agreement dated as of June 26, 2015 by
and between the Company and the Registered Holder (the “
Registration Rights Agreement
”), and the Registered
Holder shall be deemed to be a “Holder” pursuant to the Registration Rights Agreement and is entitled, subject to the
terms and conditions of the Registration Rights Agreement, to all registration rights granted to Holders thereunder.
7.
NOTICES
Section
7.1
Record
Dates
. In case:
(a)
the Company shall set a record date for the holders of the Common Stock for the purpose of entitling or enabling
them to receive any dividend or other distribution (excluding cash dividends paid or payable solely out of retained earnings),
or to receive any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any
other right;
(b)
of any capital reorganization of the Company, any reclassification of the capital stock of the Company, any consolidation
or merger of the Company with or into another organization (other than a consolidation or merger in which the Company is the surviving
entity), or any transfer of all or substantially all of the assets of the Company; or
(c)
of the voluntary or involuntary dissolution, liquidation or winding-up of the Company,
then, and in each such case, the Company will mail or cause
to be mailed to the Registered Holder of this Warrant a notice specifying, as the case may be, (i) the record date for the
purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right,
or (ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation
or winding-up is to take place, the time, if any is to be fixed, as of which the holders of record of capital stock of the Company
(or such other securities at the time deliverable upon such reorganization, reclassification, consolidation, merger, transfer,
dissolution, liquidation or winding-up) are to be determined, and the material terms and conditions of the impending transaction.
In each such case, the notice shall be provided at least 20 business days prior to the record
date or effective date for the event specified in such notice,
in each case in accordance with the provisions of Section 7.2.
Section
7.2
Generally
.
Unless otherwise provided herein, any notice required or permitted by this Warrant shall be in writing and shall be deemed sufficient
upon delivery, when delivered personally or by overnight courier or if sent by facsimile, upon written confirmation of receipt
of facsimile, or five business days following deposit in the U.S. mail, as certified or registered mail, with postage prepaid,
addressed to the party to be notified at such party’s address as set forth on the signature page, or as subsequently modified
by written notice.
8.
MISCELLANEOUS
Section
8.1
No
Rights or Liabilities as a Stockholder
. This Warrant shall not entitle the Registered Holder to any voting rights or other
rights as a stockholder of the Company. In the absence of affirmative action by the Registered Holder to purchase Warrant Stock
by exercise of this Warrant, no provisions of this Warrant, and no enumeration herein of the rights or privileges of the Registered
Holder hereof, shall cause the Registered Holder to be or have any rights of a stockholder of the Company for any purpose.
Section
8.2
Survival
of Representations and Warranties
. Unless otherwise set forth in this Warrant, the warranties, representations and covenants
of the Company and the Registered Holder contained in or made pursuant to this Warrant shall survive the execution and delivery
of this Warrant.
Section
8.3
Amendment
and Modification
. This Warrant may not be amended, modified or supplemented in any manner, whether by course of conduct or
otherwise, except by an instrument in writing specifically designated as an amendment hereto, signed on behalf of each of the parties
in interest at the time of the amendment.
Section
8.4
Waiver
.
No failure or delay of any party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single
or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or
any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power. Any agreement
on the part of a party hereto to waive any right or power hereunder shall be valid only if set forth in a written instrument executed
and delivered by or on behalf of such party. The rights and remedies of the parties hereunder are cumulative and are not exclusive
of any rights or remedies which they would otherwise have hereunder.
Section
8.5
Assignment;
Successors and Assigns
. This Warrant and any of the rights, interests or obligations under this Warrant may be assigned, in
whole or in part, by operation of law or otherwise, by the Registered Holder. This Warrant will be binding upon, inure to the benefit
of, and be enforceable by, the parties and their respective successors and assigns.
Section 8.6
Interpretation.
When a reference is made in this Warrant
to a Section or Exhibit such reference shall be to a Section or Exhibit of this Warrant unless otherwise indicated. The headings
contained in this Warrant or in any Exhibit are for convenience of reference purposes only and shall not affect in any way the
meaning or interpretation of this Warrant. All words used in this Agreement will be construed to be of such gender or number as
the circumstances require. Any capitalized terms used in any Exhibit but not otherwise defined therein shall have the meaning
as defined in this Warrant. All Exhibits annexed hereto or referred to herein are hereby incorporated in and made a part of this
Warrant as if set forth herein. The word “including” and words of similar import when used in this Agreement will
mean “including, without limitation,” unless otherwise specified.
Section
8.7
Governing
Law
. This Warrant and all disputes or controversies arising out of or relating to this Warrant or the transactions contemplated
hereby shall be governed by, and construed in accordance with, the internal laws of the State of New York, without regard to the
laws of any other jurisdiction that might be applied because of the conflicts of laws principles of the State of New York.
Section
8.8
Severability
.
Whenever possible, each provision or portion of any provision of this Warrant shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision or portion of any provision of this Warrant is held to be invalid, illegal
or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability
shall not affect any other provision or portion of any provision in such jurisdiction, and this Warrant shall be reformed, construed
and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision or portion of any provision had never
been contained herein.
Section
8.9
Counterparts
.
This Warrant may be executed in two or more counterparts, all of which shall be considered one and the same instrument and shall
become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties.
[The remainder of this page is intentionally
left blank.]
IN WITNESS WHEREOF,
the parties
hereto have executed this Warrant as of October 7, 2015.
CAREVIEW
COMMUNICATIONS, INC.
,
By:
/s/
Steven Johnson
Name: Steven Johnson
Title: President and CEO
Signature Page to A&R Warrant to Purchase Common Stock of CareView Communications, Inc.
Acknowledged and Agreed:
REGISTERED HOLDER
:
PDL BIOPHARMA, INC.
By:
/s/ John P. McLaughlin
Name: John P. McLaughlin
Title: President and Chief Executive Officer
Signature Page to A&R Warrant to Purchase Common Stock of CareView Communications, Inc.
E
XHIBIT
A
NOTICE OF EXERCISE
AMENDED AND RESTATED
WARRANT TO PURCHASE COMMON STOCK OF
CAREVIEW COMMUNICATIONS, INC.
The undersigned hereby irrevocably elects
to exercise the right of purchase represented by the Amended and Restated Warrant of CareView Communications, Inc. dated October
7, 2015 for, and to purchase thereunder, such number of shares of Warrant Stock (or such other securities or property for which
this Warrant may then be exercised) indicated below of CareView Communications, Inc. as provided for therein, and (check the applicable
box(es)):
□
Tenders
herewith payment of the Purchase Price in the form of cash or a certified or official bank check in same-day funds (or has initiated
a wire) in the amount of $____________ for _________ shares of Warrant Stock.
□
Tenders
herewith payment of the Purchase Price in the form of the surrender and cancellation of indebtedness of the Company held by the
Registered Holder in the amount of $____________ (the “
Indebtedness
”) for _________ shares of Warrant Stock.
The Indebtedness represents a portion of the indebtedness outstanding under the Credit Agreement (as such term is defined in the
Warrant).
□
Elects
a Net Issue Exercise pursuant to Section 1.2, and accordingly requests delivery of a net of _________ shares of Warrant Stock,
calculated as follows:
X =
Y (A-B)
( ) =
( ) [( ) – (
)]
A
(_____)
X = the number of shares of
Warrant Stock to be issued to the Registered Holder.
Y = the number of shares of Warrant Stock purchasable under the portion of the Warrant being exchanged (as adjusted to the date
of such calculation).
A = the Fair Market Value of one share of Warrant Stock
B = Purchase Price (as adjusted to the date of such calculation)
Please issue such shares
of Warrant Stock in the name of and pay any cash for any fractional share to (please print name, address and taxpayer i.d. number):
|
Name:
|
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Address:
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Tax ID.:
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Signature:
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Note: The above signature must correspond to the name as
written upon the face of the Warrant in every particular, without alteration or any change whatsoever. If said number of Warrant
Shares shall not be all of the Warrant Shares purchasable under the Warrant, a new Warrant is to be issued in the name of said
undersigned for the balance remaining of the Warrant Shares purchasable thereunder.
EXHIBIT B
ASSIGNMENT
AMENDED AND RESTATED
WARRANT TO PURCHASE COMMON STOCK OF CAREVIEW
COMMUNICATIONS, INC.
For value received, the undersigned
hereby sells, assigns and transfers unto ________________________ the within Warrant, together with all right, title and interest
therein, and does hereby irrevocably constitute and appoint _________________________ attorney, to transfer said Warrant on the
books of CareView Communications, Inc. with respect to the number of shares of Warrant Stock set forth below, with full power of
substitution in the premises:
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Name(s) of Assignee(s)
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Address
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# of Shares of Warrant Stock
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And if said number of shares of Warrant
Stock shall not be all the number of shares of Warrant Stock represented by the Warrant, a new Warrant is to be issued in the name
of said undersigned for the balance remaining of the Warrants registered by said Warrant.
Note: The signature to the foregoing Assignment must correspond
to the name as written upon the face of the Warrant in every particular, without alteration or any change whatsoever.
Form
of Assignment
