Common use of Class B Warrants Clause in Contracts

Class B Warrants. On the Closing Date, the Company will issue and deliver Class B Warrants to the Subscribers. One Hundred (100) Class B Warrants will be issued for each one hundred (100) Shares which would be issued on the Closing Date assuming the complete conversion of the Notes issued on the Closing Date at the Conversion Price in effect on the Closing Date. The per Warrant Share exercise price to acquire a Warrant Share upon exercise of a Class B Warrant shall be $1.50. The Class B Warrants shall be exercisable from the Closing Date until the Registration Statement described in Section 11.1(iv) of this Agreement has been effective for the public, unrestricted and registered resale of the Warrant Shares for one hundred and fifty (150) days. The Class B Warrants shall have a cashless feature. Collectively, the Class A and Class B Warrants are referred to herein as "Warrants".

Class B Warrants. On the Closing Date, the Company will issue and deliver Class B Warrants to the Subscribers. One Hundred (100) Class B Warrants will be issued for each one hundred (100) Shares which would be issued on the Closing Date assuming the complete conversion of the Notes issued on the Closing Date at the Conversion Price in effect on the Closing Date. The per Warrant Share exercise price to acquire a Warrant Share upon exercise of a Class B Warrant shall be equal to $1.502.00. The Class B Warrants shall be exercisable from the Closing Date until the Registration Statement described in Section 11.1(iv) of this Agreement has been effective for the public, unrestricted and registered resale of the Warrant Shares for one hundred and fifty (150) days. The Class B Warrants shall have a cashless feature. Collectively, the Class A and Class B Warrants are referred to herein as "Warrants".