Common use of Commitment Warrants Clause in Contracts

Commitment Warrants. In partial consideration hereof, following the execution of the Letter of Agreement dated on or about September 30, 1999 between the Company and the Investor, the Company issued and delivered to Investor or its designated assignees, warrants (the "Commitment Warrants") in the form attached hereto as Exhibit U, or such other form as agreed upon by the parties, to purchase 400,000 shares of Common Stock. The Commitment Warrants shall be exercisable at a price (the "Commitment Warrant Exercise Price") which shall initially equal the lowest Closing Bid Price for the five (5) Business Days immediately preceding September 30, 1999 ("Initial Exercise Price"), and shall have reset provisions. Each Commitment Warrant shall be immediately exercisable at the Commitment Warrant Exercise Price, and shall have a term beginning on the date of issuance and ending on date that is five (5) years thereafter. The Warrant Shares shall be registered for resale pursuant to the Registration Rights Agreement. Concurrently with the issuance and delivery of the Commitment Opinion to the Investor, or on the date that is six (6) months after the date of this Agreement, whichever is sooner, the Company shall deliver to the Investor a Commitment Warrant Opinion of Counsel (signed by the Company's independent counsel), in the form of Exhibit ___ attached hereto.

Commitment Warrants. In partial consideration hereof, following the execution of the Letter of Agreement dated on or about September 3029, 1999 between the Company and the Investor, the Company issued and delivered to Investor or its designated assignees, warrants (the "Commitment Warrants") in the form attached hereto as Exhibit U, or such other form as agreed upon by the parties, to purchase 400,000 490,000 shares of Common Stock. The Commitment Warrants shall be exercisable exerciseable at a price (the "Commitment Warrant Exercise Price") which shall initially equal the lowest average Closing Bid Price for the five (5) Business Days immediately preceding September 3029, 1999 ("Initial Exercise Price"), and shall have reset provisions. Each Commitment Warrant shall be immediately exercisable at the Commitment Warrant Exercise Price, and shall have a term beginning on the date of issuance and ending on date that is five (5) years thereafter. The Warrant Shares shall be registered for resale pursuant to the Registration Rights Agreement. Concurrently with the issuance and delivery of the Commitment Opinion to the Investor, or on the date that is six (6) months after the date of this Agreement, whichever is sooner, the Company shall deliver to the Investor a Commitment Warrant Opinion of Counsel (signed by the Company's independent counsel), in the form of Exhibit ___ P attached hereto.