Common use of Initial Warrant Clause in Contracts

Initial Warrant. In addition to the payments set forth in Section 3.6, Solazyme will grant to ADM a warrant covering 500,000 shares of Stock. Solazyme agrees to prepare a registration statement pursuant to which the warrant and shares of Stock issuable upon exercise of the warrant will be registered under the Securities Act of 1933, and to file such registration statement with the SEC, within thirty (30) days of the Effective Date. Solazyme agrees to use its best efforts to cause such registration statement to be declared effective as soon as practicable following filing. The warrant will be issued promptly following the date the SEC declares the registration statement to be effective. The warrant will vest in equal monthly installments over five (5) years from the Manufacturing Commencement Date.