Common use of Warrant Issuances Clause in Contracts

Warrant Issuances. The Company will issue to Buyer or its ----------------- designee within five (5) days after any conversion of Preferred Shares a Warrant in substantially the form of Exhibit C attached hereto, to acquire one share of Common Stock for each three Conversion Shares that are issued on such conversion of Preferred Shares, with an exercise price equal to the lower $7.15 per share and 110 percent of the Average Market Price (as that term is defined in Exhibit A hereto) per share of Common Stock for the five trading days preceding such conversion. Each Warrant shall expire to the extent not exercised on the third anniversary of the date of the relevant conversion.