Common use of Initial Warrants Clause in Contracts

Initial Warrants. The Company agrees to issue a warrant to the Purchaser on the Closing Date (each an "Initial Warrant") in the form attached hereto as Exhibit A (the "Warrant Certificate"), to purchase shares of the Company's common stock, par value $0.01 per share (the "Common Stock"). Each Initial Warrant shall entitle the holder thereof to purchase up to 500,000 Warrant Shares (as defined below) at the price of $1.75 per share.