Common use of Initial Warrant Clause in Contracts

Initial Warrant. On the Closing Date, the Company shall issue to the Lender a Warrant (the "Initial Warrant") to purchase up to an aggregate of 965,000 Warrant Shares. Immediately after the tenth trading day following the Closing Date, the Company and the Lender shall agree as to the exercise price of such Warrant in accordance with the formula set forth in Section 5.1(b) hereof.