Common use of Issuance of Notes and Warrants Clause in Contracts

Issuance of Notes and Warrants. At the Closing (as defined below), the Company agrees to issue and sell to each Investor, and, subject to all of the terms and conditions hereof, each Investor agrees to purchase a promissory note in the form of Exhibit A hereto (each, a “Note,” and collectively, the “Notes”) in the principal amount set forth opposite the respective Investor’s name on Schedule I hereto. In consideration for the purchase by each Investor of its Note, the Company will issue to each Investor a warrant in the form attached hereto as Exhibit B (each, a “Warrant,” and collectively the “Warrants”) to acquire shares of the Company’s Common Stock. Each Investor shall be entitled to receive a Warrant for a number of shares of the Company’s Common Stock determined by dividing 25% of the original principal amount of such Investor’s Note by the Exercise Price (as defined in the Warrant).