Common use of Warrant Solicitation Fee Clause in Contracts

Warrant Solicitation Fee. Subject to the rules and regulations of the FINRA and customary “market” qualifications, as to the Warrants, Chardan shall be entitled to receive from the Company a warrant solicitation fee of five percent (5.0%) of the exercise price for each Warrant (except for those owned by the Sponsor from the purchase of the Placement Units) exercised during the twelve month period commencing upon the closing of our initial business combination other than (a) in conjunction with the Force-Call provision, or (b) in the case that all solicitations to warrant holders are made exclusively by the Company and/or Sponsor without third party assistance on an engaged or non-engaged basis.

Warrant Solicitation Fee. Subject to the rules and regulations of the FINRA and customary “market” qualifications, as to the Warrants, Chardan shall be entitled to receive from the Company a warrant solicitation fee of five percent (5.0%) of the exercise price for each Warrant (except for those owned by the Sponsor from the purchase of the Placement Units) exercised during the twelve month period commencing upon the closing of our initial business combination other than (a) in conjunction with the Force-Call provision, or (b) in the case that all solicitations to warrant holders are made exclusively by the Company and/or Sponsor without third party assistance on an engaged or non-engaged basis.