Common use of ISSUANCE OF WARRANTS; FORM OF WARRANT Clause in Contracts

ISSUANCE OF WARRANTS; FORM OF WARRANT. Sheridan will issue and deliver the Warrants to JEDI I, or to an affiliate thereof designated by JEDI I, on the date of Closing referred to in the Purchase Agreement. The aggregate number of Warrants to be issued and delivered shall be 67,500. The Warrants shall be exercisable on or after the date of Closing referred to in the Purchase Agreement. The text of the Warrant, the purchase form and assignment form to be printed on the reverse thereof shall be substantially as set forth in the Warrant Certificate attached as Exhibit A hereto. The Warrants shall be executed on behalf of Sheridan by the manual or facsimile signature of the President or a Vice President of Sheridan, attested by the manual or facsimile signature of the Secretary or an Assistant Secretary of Sheridan. A Warrant bearing the manual or facsimile signature of individuals who were at any time the proper officers of Sheridan shall bind Sheridan notwithstanding that such individuals or any of them shall have ceased to hold such offices prior to the delivery of such Warrant or did not hold such offices on the date of this Warrant Agreement. Warrants shall be dated as of the date of execution thereof by Sheridan either upon initial issuance or upon division, exchange, substitution or transfer.

ISSUANCE OF WARRANTS; FORM OF WARRANT. Sheridan will issue and deliver the Warrants to JEDI I, or to an affiliate thereof designated by JEDI IGGP, on the date of Closing referred to in the Purchase Agreement. The aggregate number of Warrants to be issued and delivered shall be 67,50082,500. The Warrants shall be exercisable on or after the date of Closing referred to in the Purchase Agreement. The text of the Warrant, the purchase form and assignment form to be printed on the reverse thereof shall be substantially as set forth in the Warrant Certificate attached as Exhibit A hereto. The Warrants shall be executed on behalf of Sheridan by the manual or facsimile signature of the President or a Vice President of Sheridan, attested by the manual or facsimile signature of the Secretary or an Assistant Secretary of Sheridan. A Warrant bearing the manual or facsimile signature of individuals who were at any time the proper officers of Sheridan shall bind Sheridan notwithstanding that such individuals or any of them shall have ceased to hold such offices prior to the delivery of such Warrant or did not hold such offices on the date of this Warrant Agreement. Warrants shall be dated as of the date of execution thereof by Sheridan either upon initial issuance or upon division, exchange, substitution or transfer.