Common use of Warrant Solicitation Fees Clause in Contracts

Warrant Solicitation Fees. The Company hereby engages X.X. Xxxxxxxxxx, on a non-exclusive basis, as its agent for the solicitation of the exercise of the Warrants. The Company will (i) assist X.X. Xxxxxxxxxx with respect to such solicitation, if requested by X.X. Xxxxxxxxxx, and (ii) at X.X. Xxxxxxxxxx'x request, provide X.X. Xxxxxxxxxx, and direct the Company's transfer and warrant agent to provide to X.X. Xxxxxxxxxx, at the Company's cost, lists of the record and, to the extent known, beneficial owners of, the Warrants. Commencing one year from the Effective Date, the Company will pay X.X. Xxxxxxxxxx five percent (5%) of the exercise price of the Warrants, payable on the date of such exercise, on the terms provided for in the Warrant Agreement, only if permitted under the rules and regulations of the NASD and only to the extent that an investor who exercises his Warrants specifically designates, in writing, that X.X. Xxxxxxxxxx solicited his exercise. X.X. Xxxxxxxxxx may engage sub-agents in its solicitation efforts. The Company agrees to disclose the arrangement to pay such solicitation fees to X.X. Xxxxxxxxxx in any prospectus used by the Company in connection with the registration of the shares of Common Stock underlying the Warrants.

Warrant Solicitation Fees. The Company hereby engages X.X. Xxxxxxxxxx, Xxxxxx Xxxxxx & Co. on a non-exclusive basis, as its agent for the solicitation of the exercise of the Warrants. The Company will (i) assist X.X. Xxxxxxxxxx Xxxxxx Xxxxxx & Co. with respect to such solicitation, if requested by X.X. XxxxxxxxxxXxxxxx Xxxxxx & Co., and (ii) at X.X. Xxxxxxxxxx'x Xxxxxx Xxxxxx & Co.'s request, provide X.X. XxxxxxxxxxXxxxxx Xxxxxx & Co., and direct the Company's transfer and warrant agent to provide to X.X. XxxxxxxxxxXxxxxx Xxxxxx & Co., at the Company's cost, lists of the record and, to the extent known, beneficial owners of, the Warrants. Commencing one year from the Effective Date, the Company will pay X.X. Xxxxxxxxxx Xxxxxx Xxxxxx & Co. a commission of five percent (5%) of the exercise price of the WarrantsWarrants for each Warrant exercised, payable on the date of such exercise, on the terms provided for in the Warrant Agreement, only if permitted under the rules and regulations of the NASD and only to the extent that an investor who exercises his Warrants specifically designates, in writing, that X.X. Xxxxxxxxxx Xxxxxx Xxxxxx & Co. solicited his exercise. X.X. Xxxxxxxxxx Xxxxxx Xxxxxx & Co. may engage sub-agents in its solicitation efforts. The Company agrees to disclose the arrangement to pay such solicitation fees to X.X. Xxxxxxxxxx Xxxxxx Xxxxxx & Co. in any prospectus used by the Company in connection with the registration of the shares of Common Stock underlying the Warrants.