Common use of PIPE Warrants Clause in Contracts

PIPE Warrants. The Company shall have obtained from the holders of not less than 75% of the outstanding warrants to purchase shares of Company Common Stock issued in connection with the Company’s December 31, 2003 and January 26, 2004 financings (including warrants issued to the Company’s financial advisor in connection therewith) (collectively, “PIPE Warrants”) such holders’ consent to receive warrants to purchase Parent Common Stock on the terms set forth in Section 2.5 hereof in exchange for such PIPE Warrants, with confirmation reasonably satisfactory to Parent that any associated purchase obligations on the part of Parent, Merger Sub or the Company set forth in the PIPE Warrants shall not apply to the transactions contemplated by this Agreement.