Common use of Amount Issued Clause in Contracts

Amount Issued. Subject to the provisions of this Agreement, the Company shall issue and distribute to holders of its Common Stock ("Record Holders") transferable Warrants to purchase an aggregate of 7,228,457 shares of Common Stock. The Company shall distribute to the Record Holders as of January 10, 2002 (the "Record Date") one (1) Warrant for every five (5) shares of Common Stock held of record on the Record Date. No fractional warrants or cash in lieu thereof will be issued or paid. The number of Warrants distributed to each Record Holder will be rounded down to the nearest whole number. Each Warrant shall entitle the holder thereof to purchase one share of Common Stock at a price of $15.00 per share upon exercise of the Warrant as herein provided.