Common use of Company's Option Upon Registered Offering Clause in Contracts

Company's Option Upon Registered Offering. In the event of the initial registered public offering by the Company of its Common Stock effected pursuant to a Registered Statement on Form S-1 (or its successor) filed under the Securities Act of 1933, the Company will have the option to purchase for cash immediately prior to the issuance of such shares in such offering all, but not less than all, of the following: (i) this Warrant for a price per Share equal to the difference between (x) the Net Per Share Price (as defined below) of the stock being issued in such offering and (y) the Warrant Price, and (ii) all Shares that have been issued pursuant to the exercise of this Warrant for a price per share equal to the Net Per Share Price of the stock being issued in such offering. For the purpose of this Paragraph the term "Net Per Share Price" shall mean the proceeds to be received by the Company (or selling shareholders, in the event of a secondary offering) for each share in the registered public offering, net of underwriting commissions.

Company's Option Upon Registered Offering. In the event of the initial registered public offering by the Company of its Common Stock effected pursuant to a Registered Statement on Form S-1 (or its successor) filed under the Securities Act of 1933, the Company will have the option to purchase for cash immediately prior to the issuance of such shares in such offering all, but not less than all, of the following: (i) this Warrant for a price per Share equal to the difference between (x) the Net Per Share Price (as defined below) of the stock being issued in such offering and (y) the Warrant Price, and (ii) all Shares that have been issued pursuant to the exercise of this Warrant for a price per share equal to the Net Per Share Price of the stock being issued in such offering. For the purpose of this Paragraph the term "Net Per Share Price" ,, shall mean the proceeds to be received by the Company (or selling shareholders, in the event of a secondary offering) for each share in the registered public offering, net of underwriting commissions.