Common use of Transfer and Exchange of the Warrant Clause in Contracts

Transfer and Exchange of the Warrant. Subject to compliance with Section 5, upon the surrender of the Warrant, properly endorsed, for registration of Transfer or for exchange at the principal office of the Company, the Company at its expense shall execute and deliver to or upon the order of the Holder thereof a new Warrant or Warrants of like tenor, in the name of such Holder or as such Holder (upon payment by such Holder of any applicable Transfer taxes) may direct, providing for the same number of underlying Warrant Shares as provided for under the Warrant or Warrants so surrendered.