Common use of WARRANT EXERCISE FEE Clause in Contracts

WARRANT EXERCISE FEE. If the Representative provides written notice to the Company, at any time after 12 months from the effective date of the Registration Statement, that the Representative is electing to solicit the exercise of the Class A Warrants by the holders thereof, the Company will pay to the Representative a fee of 10% of the aggregate exercise price received by the Company as a result of the Representatives's solicitation of such holders, if (i) the market price of the Company's Common Stock on the date a Class A Warrant is exercised is greater than the exercise price under the Class A Warrants, (ii) the Class A Warrant is not held in a discretionary account, and (iii) the solicitation of the exercise of the Class A Warrant is not in violation of Rule 10b-6 promulgated under the Exchange Act.

WARRANT EXERCISE FEE. If the Representative provides written notice to the Company, at any time after 12 months from the effective date of the Registration Statement, that the Representative is electing to solicit the exercise of the Class A Warrants by the holders thereof, the Company will pay to the Representative a fee of 10% of the aggregate exercise price received by the Company as a result of the Representatives's Representative s solicitation of such holders, if (i) the market price of the Company's Common Stock on the date a Class A Warrant is exercised is greater than the exercise price under the Class A Warrants, (ii) the Class A Warrant is not held in a discretionary account, and (iii) the solicitation of the exercise of the Class A Warrant is not in violation of Rule 10b-6 promulgated under the Exchange Act.