Common use of Warrant Solicitation Fees Clause in Contracts

Warrant Solicitation Fees. The Company hereby engages the Underwriter, on a non-exclusive basis, as its agent for the solicitation of the exercise of the Warrants. The Company will (i) assist the Underwriter with respect to such solicitation, if requested by the Underwriter, and (ii) at the Underwriter’s request, provide the Underwriter, and direct the Transfer Agent to provide the Underwriter, at the Company’s cost, lists of the record and, to the extent known, beneficial owners of, the Warrants. Commencing one year from the Effective Date, the Company will pay the Underwriter a commission of 2% of the exercise price of the Warrants for each Warrant exercised on the terms provided for in the Warrant Agreement, payable on the date of such exercise, to the extent not inconsistent with the rules and regulations of the NASD and only to the extent that an investor who exercises his Warrants specifically designates, in writing, that the Underwriter solicited his exercise. The Underwriter may engage sub-agents in its solicitation efforts. The Company agrees to disclose the arrangement to pay such solicitation fees to the Underwriter in any prospectus used by the Company in connection with the registration of the shares of Common Stock underlying the Warrants.

Warrant Solicitation Fees. The Company hereby engages the Underwriter, on a non-exclusive basis, as its agent for the solicitation of the exercise of the Warrants. The Company will (i) assist the Underwriter with respect to such solicitation, if requested by the Underwriter, and (ii) at the Underwriter’s request, provide the Underwriter, and direct the Transfer Agent Company’s transfer and warrant agent to provide to the Underwriter, at the Company’s cost, lists of the record and, to the extent known, beneficial owners of, the Warrants. Commencing one year from the Effective Date, the Company will pay the Underwriter a commission of 2% five percent (5%) of the exercise price of the Warrants for each Warrant exercised exercised, payable on the date of such exercise, on the terms provided for in the Warrant Agreement, payable on the date of such exercise, to the extent not inconsistent with only if permitted under the rules and regulations of the NASD and only to the extent that an investor who exercises his Warrants specifically designates, in writing, that the Underwriter solicited his exercise. The Underwriter may engage sub-sub agents in its their solicitation efforts. The Company agrees to disclose the arrangement to pay such solicitation fees to the Underwriter in any prospectus used by the Company in connection with the registration of the shares of Common Stock underlying the Warrants.