Common use of Disposition of Warrant and Warrant Shares Clause in Contracts

Disposition of Warrant and Warrant Shares. (a) The Holder further agrees not to make any disposition of all or any part of this Warrant or the Warrant Shares in any event unless and until: (i) The Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will be recommended to the Commission with respect to the proposed disposition; or (ii) There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with said registration statement; or (iii) The Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, the Holder shall have furnished the