Common use of Transfer and Ownership of Warrants Clause in Contracts

Transfer and Ownership of Warrants. (a) Title to the Warrants shall pass by delivery in the same manner as a negotiable instrument payable to bearer, accompanied by a transfer form substantially in the form annexed to the Warrant. Each holder of the Warrants may be treated by the Corporation and the Corporation's transfer agent as the absolute owner thereof for all purposes and as the person entitled to exercise the Warrants or transfer title to it. (b) One or more Warrants may be surrendered to the Corporation for exchange and, upon their cancellation, the Corporation shall countersign and deliver in exchange one or more new Warrants, as requested by the bearer of the cancelled Warrant or Warrants, for the same aggregate number of Shares as were evidenced by the Warrant or Warrants so cancelled. The Corporation shall give notice to the registered holders of the Warrants of any change in the address of, or in the designation of the Corporation's transfer agent. (c) The Warrant Holder represents to the Corporation that he is acquiring the Warrants and will acquire the Shares for his own account for investment and not with a view to, or for sale in connection with, any distribution thereof. If, in the future, the Warrant Holder shall decide to dispose of the Warrants or the Shares, any such disposition shall be made only in a transaction which is exempt from registration under then applicable federal and state securities laws or pursuant to registration under such laws.

Transfer and Ownership of Warrants. (a) Title to the Warrants shall pass by delivery in the same manner as a negotiable instrument payable to bearer, accompanied by a transfer form substantially in the form annexed to the Warrantthis Agreement as Exhibit “C”. Each holder of the Warrants may be treated by the Corporation and the Corporation's transfer agent Warrant Agent as the absolute owner thereof for all purposes and as the person entitled to exercise the Warrants or transfer title to it. (b) One or more Warrants may be surrendered to the Warrant Agent or the Corporation or any officer thereof for exchange and, upon their cancellation, the Warrant Agent or any officer of the Corporation shall countersign and deliver in exchange one or more new Warrants, as requested by the bearer of the cancelled Warrant or Warrants, for the same aggregate number of Shares as were evidenced by the Warrant or Warrants so cancelled. The Corporation shall give notice to the registered holders of the Warrants of any change in the address of, or in the designation of the Corporation's transfer agentWarrant Agent. (c) The Warrant Holder represents to the Corporation that he is acquiring the Warrants and will acquire the Shares for his own account for investment and not with a view to, or for sale in connection with, any distribution thereof. If, in the future, the Warrant Holder shall decide to dispose of the Warrants or the Shares, any such disposition shall be made only in a transaction which is exempt from registration under then applicable federal and state securities laws or pursuant to registration under such laws.