Common use of DESCRIPTION OF WARRANTS Clause in Contracts

DESCRIPTION OF WARRANTS. Each Warrant entitles the holder to purchase one (1) share of Common Stock at an exercise price of $6.00 per share, exercisable for a three year period from the date of Closing. Prior to the exercise of the Warrants, holders of the Warrants shall not be entitled to any right whatsoever, either in law or equity, of a stockholder of the Company, including without limitation, the right to receive dividends or to vote or to consent or to receive notice as a stockholder in respect of the meetings of stockholders or the election of directors of the Company or any other matter.