Common use of Underlying Warrants Clause in Contracts

Underlying Warrants. At any time after exercise by a Holder of this Purchase Option, a Holder may exchange its Warrants (with an initial exercise price of $____) for Public Warrants (with an initial exercise price of $___) upon payment to the Company of the difference between the exercise price of its Warrant and the exercise price of the Public Warrants. Any such Public Warrants and the Common Stock underlying such Public Warrants shall constitute Registrable Securities.