Common use of DESCRIPTION OF THE WARRANTS Clause in Contracts

DESCRIPTION OF THE WARRANTS. The Company's Warrants may be exercised on or after _________, 199__ and expire at 5:00 p.m. New York time on _______, 2002 (the "Expiration Date"), subject to the Company's right to extend the Expiration Date, at which time all rights evidenced by the Warrants shall cease and the Warrants shall become void. In accordance with the provisions of the Warrant Agreement, the holder of each Warrant shall have the right to purchase from the Company, and the Company shall issue and sell to such holders of Warrants, one fully paid and non-assessable share of the Company's Common Stock for every Warrant exercised at an Exercise Price of $5.25, subject to adjustment as provided in the Warrant Agreement.

DESCRIPTION OF THE WARRANTS. The Company's Warrants may be exercised on or after _________, 199__ 1998 and expire at 5:00 p.m. New York time on _______, 2002 (the "Expiration Date"), subject to the Company's right to extend the Expiration Date, at which time all rights evidenced by the Warrants shall cease and the Warrants shall become void. In accordance with the provisions of the Warrant Agreement, the holder of each Warrant shall have the right to purchase from the Company, and the Company shall issue and sell to such holders of Warrants, one fully paid and non-assessable share of the Company's Common Stock for every Warrant exercised at an Exercise Price exercise price of $5.25, subject to adjustment as provided in the Warrant AgreementAgreement (the "Exercise Price").