Common use of The Optional Shares and Optional Warrants; Option Closing Date Clause in Contracts

The Optional Shares and Optional Warrants; Option Closing Date. In addition, on the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Company hereby grants an option to the several Underwriters to purchase, severally and not jointly, up to any combination of 529,411 Optional Shares and/or 529,411 Optional Warrants at the Per Share Purchase Price and/or the Per Common Warrant Purchase Price, respectively. The option granted hereunder may be exercised at any time and from time to time in whole or in part upon notice by the Representative to the Company, which notice may be given at any time within 30 days from the date of this Agreement. Such notice shall set forth (i) the aggregate number of Optional Shares and/or Optional Warrants as to which the Underwriters are exercising the option and (ii) the time, date and place at which book-entry entitlements for the Optional Shares and/or Optional Warrants will be delivered (which time and date may be simultaneous with, but not earlier than, the First Closing Date; and in the event that such time and date are simultaneous with the First Closing Date, the term “First Closing Date” shall refer to the time and date of delivery of book-entry entitlements for the Firm Shares and such Optional Securities). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representative and shall not be earlier than two or later than five full business days after delivery of such notice of exercise. If any Optional Shares and/or Optional Warrants are to be purchased, (a) each Underwriter agrees, severally and not jointly, to purchase the number of Optional Securities (subject to such adjustments to eliminate fractional shares as the Representative may determine) that bears the same proportion to the total number of Optional Securities to be purchased as the number of Firm Securities set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Securities and (b) the Company agrees to sell the number of Optional Securities set forth in the paragraph “Introductory” of this Agreement (subject to such adjustments to eliminate fractional shares as the Representative may determine). The Representative may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

The Optional Shares and Optional Warrants; Option Closing Date. In addition, on the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Company hereby grants an option to the several Underwriters to purchasesubscribe for, severally and not jointly, up to any combination an aggregate of 529,411 2,100,000 Optional Shares and/or 529,411 an aggregate of 2,100,000 Optional Warrants Warrants, in any combination thereof, from the Company at the Per Share Purchase Price and/or for each Optional Share, less an amount per share, if any, equal to any dividend or distribution declared by the Per Common Company and payable on the Firm Shares but not payable on Optional Shares, and the Warrant Purchase PricePrice for each Optional Warrant, respectively. The option granted hereunder may be exercised at any time and from time to time in whole or in part upon notice by the Representative to the Company, which notice may be given at any time within 30 days from the date of this AgreementAgreement and may be exercised for Optional Shares and/or Optional Warrants in any combination thereof. Such notice shall set forth (i) the aggregate number of Optional Shares and/or and Optional Warrants as to which the Underwriters are exercising the option and (ii) the time, time and date and place at which book-entry entitlements for the Optional Shares and/or and Optional Warrants will be delivered (which time and date may may, by mutual consent of the Company and the Representative, be simultaneous with, but not earlier than, than the First Closing Date; and in the event that such time and date are simultaneous with the First Closing Date, the term “First Closing Date” shall refer to the time and date of delivery of book-entry entitlements for the Firm Shares and Firm Warrants and such Optional SecuritiesShares and/or Optional Warrants as applicable). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representative and shall not be earlier than two or later than five full business days after delivery of such notice of exercise, unless otherwise agreed to by the Company and the Representative. If any Optional Shares and/or Optional Warrants are to be purchasedsubscribed for, (a) each Underwriter agrees, severally and not jointly, to purchase subscribe for the number of Optional Securities Shares and/or Optional Warrants (subject to such adjustments to eliminate fractional shares as the Representative may determine) that bears the same proportion to the total number of Optional Securities Shares and/or Optional Warrants to be purchased subscribed for as the number of Firm Securities Shares and Firm Warrants set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Securities Shares and (b) the Company agrees to sell the number of Optional Securities set forth in the paragraph “Introductory” of this Agreement (subject to such adjustments to eliminate fractional shares as the Representative may determine)Firm Warrants. The Representative may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

The Optional Shares and Optional Warrants; Option Closing Date. In addition, on the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Company hereby grants an option options to the several Underwriters to (i) purchase, severally and not jointly, up to any combination an aggregate of 529,411 825,000 Optional Shares and/or 529,411 from the Company at the purchase price per share to be paid by the Underwriters for the Firm Shares, less an amount per share equal to any dividend or distribution declared by the Company and payable on the Firm Shares but not payable on Optional Shares and (ii) purchase, severally and not jointly, Optional Warrants to purchase up to an aggregate of 412,500 Shares from the Company at the Per Share Purchase Price and/or purchase price per Warrant to be paid by the Per Common Warrant Purchase Price, respectivelyUnderwriters for the Firm Warrants. The option options granted hereunder may be exercised at any time and from time to time in whole or in part upon notice by the Representative Representatives to the Company, which notice may be given at any time within 30 days from the date of this Agreement. Such notice shall set forth (i) the aggregate number of Optional Shares and/or Optional Warrants as to which the Underwriters are exercising the option and (ii) the time, date and place at which book-entry entitlements positions for the Optional Shares and/or and certificates for the Optional Warrants will be delivered (which time and date may be simultaneous with, but not earlier than, the First Closing Date; and in the event that such time and date are simultaneous with the First Closing Date, the term “First Closing Date” shall refer to the time and date of delivery of book-entry entitlements positions for the Firm Shares and such Optional SecuritiesShares and/or certificates for the Optional Warrants). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representative Representatives and shall not be earlier than two three or later than five full business days after delivery of such notice of exercise. If any Optional Shares and/or or Optional Warrants are to be purchased, (a) each Underwriter agrees, severally and not jointly, to purchase the number of Optional Securities Shares and/or Optional Warrants (subject to such adjustments to eliminate fractional shares as the Representative Representatives may determine) that bears the same proportion to the total number of Optional Securities Shares and/or Optional Warrants to be purchased as the number of Firm Securities Shares or Firm Warrants, as applicable, set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Securities and (b) the Company agrees to sell the number of Optional Securities set forth in the paragraph “Introductory” of this Agreement (subject to such adjustments to eliminate fractional shares Shares or Firm Warrants, as the Representative may determine)applicable. The Representative Representatives may cancel the option options at any time prior to its expiration by giving written notice of such cancellation to the Company.

The Optional Shares and Optional Warrants; Option Closing Date. In addition, on the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Company hereby grants an option to the several Underwriters to purchase, severally and not jointly, up to any combination an aggregate of 529,411 1,999,999 Optional Shares and/or 529,411 and 1,999,999 Optional Warrants from the Company at the Per purchase price per share to be paid by the Underwriters for the Firm Shares and accompanying Warrants (provided that the purchase price per Optional Share Purchase Price and/or and accompanying Warrant shall be reduced by an amount per share equal to any dividends or distributions declared by the Per Common Warrant Purchase Price, respectivelyCompany and payable on the Firm Shares but not payable on the Optional Shares). The option granted hereunder may be exercised at any time and from time to time in whole or in part upon notice by the Representative to the Company, which notice may be given at any time within 30 thirty (30) days from the date of this Agreement. Such notice shall set forth (i) the aggregate number of Optional Shares and/or Optional and accompanying Warrants as to which the Underwriters are exercising the option and (ii) the time, date and place at which book-entry entitlements certificates for the Optional Shares and/or Optional and accompanying Warrants will be delivered (which time and date may be simultaneous with, but not earlier than, the First Closing Date; and in the event that such time and date are simultaneous with the First Closing Date, the term “First Closing Date” shall refer to the time and date of delivery of book-entry entitlements certificates for the Firm Shares and such Optional SecuritiesShares and Firm Warrants and such Optional Warrants). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” and shall be determined by the Representative and shall not be earlier than two three (3) or later than five (5) full business days after delivery of such notice of exercise. If any Optional Shares and/or Optional and accompanying Warrants are to be purchased, (a) each Underwriter agrees, severally and not jointly, to purchase the number of Optional Securities Shares and accompanying Warrants (subject to such adjustments to eliminate fractional shares as the Representative may determine) that bears the same proportion to the total number of Optional Securities Shares and accompanying Warrants to be purchased as the number of Firm Securities Shares and accompanying Warrants set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Securities Shares and (b) the Company agrees to sell the number of Optional Securities set forth in the paragraph “Introductory” of this Agreement (subject to such adjustments to eliminate fractional shares as the Representative may determine)accompanying Warrants. The Representative may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

The Optional Shares and Optional Warrants; Option Closing Date. In addition, on the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Company hereby grants an option to the several Underwriters to purchase, severally and not jointly, up to any combination of 529,411 4,821,428 Optional Shares and/or 529,411 4,821,428 Optional Warrants at the Per Share Purchase Price and/or the Per Common Warrant Purchase Price, respectively. The option granted hereunder may be exercised at any time and from time to time in whole or in part upon notice by the Representative to the Company, which notice may be given at any time within 30 days from the date of this Agreement. Such notice shall set forth (i) the aggregate number of Optional Shares and/or Optional Warrants as to which the Underwriters are exercising the option and (ii) the time, date and place at which book-entry entitlements for the Optional Shares and/or Optional Warrants will be delivered (which time and date may be simultaneous with, but not earlier than, the First Closing Date; and in the event that such time and date are simultaneous with the First Closing Date, the term “First Closing Date” shall refer to the time and date of delivery of book-entry entitlements for the Firm Shares Securities and such Optional Securities). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representative and shall not be earlier than two or later than five full business days after delivery of such notice of exercise. If any Optional Shares and/or Optional Warrants are to be purchased, (a) each Underwriter agrees, severally and not jointly, to purchase the number of Optional Securities (subject to such adjustments to eliminate fractional shares as the Representative may determine) that bears the same proportion to the total number of Optional Securities to be purchased as the number of Firm Securities set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Securities and (b) the Company agrees to sell the number of Optional Securities set forth in the paragraph “Introductory” of this Agreement (subject to such adjustments to eliminate fractional shares as the Representative may determine). The Representative may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.