Common use of Form of Initial Public Equity Offering Clause in Contracts

Form of Initial Public Equity Offering. The Company agrees that it shall not make an Initial Public Equity Offering of any class of its Capital Stock (other than the class of Capital Stock into which the Warrants are exercisable) without adopting such amendments to the terms of the Company's Articles of Incorporation as may be necessary to provide that the Warrant Shares are convertible into the class of Capital Stock subject to the Initial Public Equity Offering (the "SUBJECT CLASS") on a share-for-share or other equitable basis; PROVIDED that the rights, conditions and privileges attaching to the Subject Class as compared to the rights, conditions and privileges attaching to the Common Stock into which such Warrants would be convertible on the date hereof (if the Warrants were immediately exercisable) would not adversely affect holders of the Warrant Shares; it being understood that the Capital Stock into which the Warrants shall be convertible (a) shall represent the same economic interests, but may not have the same voting rights, in the Company as the Common Stock outstanding on the date hereof and (b) shall be identical to the class of Capital Stock issued and sold by the Company in the Initial Public Equity Offering, if any.

Form of Initial Public Equity Offering. The Company agrees that it shall not make an Initial Public Equity Offering of any class of its Capital Stock (other than the class of Capital Stock into which the Warrants are exercisable) without adopting such amendments to the terms of the Company's Articles of Incorporation as may be necessary to provide that the Warrant Shares are convertible into the class of Capital Stock subject to the Initial Public Equity Offering (the "SUBJECT CLASSSubject Class") on a share-for-share or other equitable basis; PROVIDED provided that the rights, conditions and privileges attaching to the Subject Class as compared to the rights, conditions and privileges attaching to the Common Stock into which such Warrants would be convertible on the date hereof (if the Warrants were immediately exercisable) would not adversely affect holders of the Warrant Shares; it being understood that the Capital Stock into which the Warrants shall be convertible (a) shall represent the same economic interests, but may not have the same voting rights, in the Company as the Common Stock outstanding on the date hereof and (b) shall be identical to the class of Capital Stock issued and sold by the Company in the Initial Public Equity Offering, if any.