Common use of Warrants and Issuance of Warrant Certificates Clause in Contracts

Warrants and Issuance of Warrant Certificates. Each two Warrants shall initially entitle the Registered Owner of the Warrant Certificates representing such Warrants to purchase one share of Common Stock on exercise thereof, subject to modification and adjustment as hereinafter provided in Section 9. Warrant Certificates representing 1,200,000 Firm Warrants and evidencing the right to purchase an aggregate of 600,000 shares of Common Stock of the Company shall be executed by the proper officers of the Company and delivered to the Warrant Agent for countersignature. Certificates representing the Firm Warrants to be delivered to the Warrant Agent shall be in direct relation to the Firm Shares sold in the Company's Public Offering and shall be attached to certificates representing an equal number of Firm Shares. The Warrant Certificates representing the Firm Warrants will be issued and delivered on written order of the Company signed by the proper officers of the Company. The