Common use of Consideration; Payment of Expenses Clause in Contracts

Consideration; Payment of Expenses. (a) In consideration of the services to be provided for hereunder, the Company shall pay to the Underwriters or their respective designees their pro rata portion (based on the Securities purchased) of the following compensation with respect to the Securities which they are offering: (i) An underwriting discount equal to eight percent (8%) of the aggregate gross proceeds raised in the Offering, and a non-accountable expense allowance of one and one-half percent (1.5%) of the gross proceeds of the Offering; and (ii) the Representative’s Warrant, to purchase such number of Shares equal to eight percent (8%) of the Shares issued at the Closing (for the avoidance of doubt, including the Additional Shares).

Consideration; Payment of Expenses. (a) In consideration of the services to be provided for hereunder, the Company shall pay to the Underwriters or their respective designees their pro rata portion (based on the Securities purchased) of the following compensation with respect to the Securities which they are offering: (i) An underwriting discount equal to eight seven and one-half percent (87.5%) of the aggregate gross proceeds raised in the Offering, and a non-accountable expense allowance of one and one-half of one percent (1.50.5%) of the gross proceeds of the Offering; and (ii) the Representative’s Warrant, to purchase such number of Shares equal to eight ten percent (810%) of the Shares issued at the Closing (for the avoidance of doubt, including the Additional Shares).