Common use of Firm Commitment Underwritten Offering Clause in Contracts

Firm Commitment Underwritten Offering. The Company shall promptly use its commercially reasonable efforts to engage an Underwriter and file a registration statement with the Commission on Form S-1 to register shares of its Common Stock in the Proposed Offering (such Form S-1 being referred to in this Agreement as the “Proposed Offering S-1”). The Company has had substantive discussions with at least two investment banks that would qualify as an Underwriter and believes that it will be able to file the Proposed Offering S-1 and consummate the Proposed Offering on or prior to the date specified in Section 3.1.