Common use of Class C Warrants Clause in Contracts

Class C Warrants. On the Closing Date, the Company will issue and deliver Class C Warrants to the Subscribers. One-half Class C Warrant will be issued for each one Share 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 C Warrant shall be 102% of the closing bid price of the Common Stock as reported by Bloomberg L.P. for the trading day preceding the Closing Date. The Class C Warrants shall be exercisable only if the Approval (as defined in Section 13 below) is obtained, commencing six months after the Closing Date and until five years after the Closing Date.