Common use of Warrant Amendment Clause in Contracts

Warrant Amendment. The Borrower shall have executed and delivered to the Lender amendments to the outstanding warrants held by the Lender to purchase shares of common stock of the Borrower, providing for (a) the reduction of the exercise price of one-half of such warrants to $.01 per share, and granting to the Lender the right, with respect to the other one-half of such warrants, to require the Borrower to repurchase such warrants for cash at a price of $.50 per warrant, all such exercise and purchase prices to be subject to adjustment in a manner consistent with the adjustment provisions of the warrants; such amendments to be in form and substance reasonably satisfactory to the Lender.