Common use of Registration Deadlines Clause in Contracts

Registration Deadlines. If the Company fails to file a registration statement by the Resale Date, the Company shall issue to each Purchaser a Warrant to purchase up to the number of shares of Common Stock set forth opposite such Purchaser’s name under the column entitled “Number of Warrants Upon Failure to Register” on Schedule I attached hereto (adjusted for stock splits, reverse stock splits and the like) at an exercise price of $5.55 per share (adjusted for stock splits, reverse stock splits and the like) with a five year term. The Company shall issue to each Purchaser an additional Warrant to purchase up to the number of shares of Common Stock set forth opposite such Purchaser’s name under the column entitled “Number of Warrants Upon Failure to Register” on Schedule I attached hereto (adjusted for stock splits, reverse stock splits and the like) for each subsequent 30 day period for which a registration statement has not been filed.