Document:

EX-4.7 Amended and Restated Warrant Clarif. Agrmt

 

Exhibit 4.7

AMENDED AND RESTATED WARRANT CLARIFICATION

AGREEMENT

     This Amended and Restated Warrant Clarification Agreement (this “Agreement”), dated as of
January 17,2007, is between Coconut Palm Acquisition Corp., a Delaware corporation, with offices
at 595 South Federal Highway, Suite 500, Boca Raton, Florida, 33432 (the “Company”) and
Continental Stock Transfer & Trust Company, a New York corporation, with offices at 17 Battery
Place, New York, New York 10004 (the “Warrant Agent”).

     WHEREAS, the Company and Warrant Agent are parties to that certain Warrant Agreement, dated
as of September 8, 2005 (the “Warrant Agreement”) providing for the issuance of Warrants (as such
term is defined therein);

     WHEREAS, as a result of certain questions that arose arisen regarding the accounting
treatment applicable to the Warrants, the parties pursuant to a Warrant Clarification Agreement
dated August 17, 2006 (the “Warrant Clarification Agreement”) deemed it necessary and desirable to
amend the Warrant Agreement to clarify that the registered holders do not have the right, and did
not have the right when the parties initially entered into the Warrant Agreement, to receive a net
cash settlement in the event the Company does not maintain a current prospectus relating to the
Common Stock of the Company issuable upon exercise of the Warrants at the time such Warrants are
exercisable; and

     WHEREAS, the parties deem it necessary and desirable to amend and restate the Warrant
Clarification Agreement to make clear that the reference to the “effective registration” should
have been to a “current prospectus”.

     NOW, THEREFORE, in consideration of the mutual agreements contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and
intending to be legally bound hereby, the parties hereto agree to amend the Warrant Agreement as
set forth herein.

     1. Warrant Agreement. The undersigned hereby agree that the Warrant
Agreement is hereby amended by adding the following last sentence to Section 3.3.2:

     “In no event will the registered holder of a Warrant be entitled to receive a net cash
settlement or any other consideration in lieu of physical settlement in shares of Common Stock, and
therefore such Warrants may expire unexercised and without value, if the Common Stock underlying
the Warrants is not covered by a current prospectus.”

     2. Miscellaneous.

          a.
Governing Law;Jurisdiction. The validity, interpretation, and performance of this
Agreement shall be governed in all respects by the laws of the State of New York, without giving
effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim against
it arising out of or relating in any way to this Agreement shall be brought and enforced in the
courts of the State of New York or the

 

 

United States District Court for the Southern District of New York, and irrevocably submits to such
jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to
such exclusive jurisdiction and that such courts represent an inconvenience forum. Any such process
or summons to be served upon the Company may be served by transmitting a copy thereof by registered
or certified mail, return receipt requested, postage prepaid, addressed to it in care of the
address set forth above or such other address as the undersigned shall furnish in writing to the
other. Such mailing shall be deemed personal service and shall be legal and binding upon the
Company in any action, proceeding or claim.

          b. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of the parties hereto and to their respective heirs, legal representatives, successors
and assigns.

          c.
Entire Agreement. This Agreement sets forth the entire agreement and
understanding between the parties as to the subject matter thereof and merges and
supersedes all prior discussions, agreements and understandings of any and every nature
among them, including without limitation the Warrant Clarification Agreement. This
Agreement shall form and be a part of the Warrant Agreement. Except as set forth in this
Agreement, provisions of the original Warrant Agreement which are not inconsistent with
this Agreement shall remain in full force and effect. This Agreement may be executed in
counterparts.

          d. Severability. This Agreement shall be deemed severable, and the
invalidity or unenforceability of any term or provision hereof shall not affect the validity
or enforceability of this Agreement or of any other term or provision hereof.
Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties
hereto intend that there shall be added as a part of this Agreement a provision as similar
in terms to such invalid or unenforceable provision as may be possible and be valid and
enforceable.

     IN WITNESS WHEREOF, the parties hereto have executed this Amended and Restated Warrant
Clarification Agreement as of the date first written above.

	 	 	 	 	 	 	 
	 	 	COCONUT PALM ACQUISITION CORP.
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Richard C. Rochon
 

Richard C. Rochon
	 	 
	 

	 	Title:
	 	Chairman and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Steve Nelson	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Steve Nelson	 	 
	 

	 	Title:
	 	ChairmanEX-4.8 Unit Purchase Option Clarification Agreemt

 

EXHIBIT
4.8

UNIT PURCHASE OPTION CLARIFICATION AGREEMENT

     This Unit Purchase Option Clarification Agreement (this “Agreement”), dated as of January 17,
2007, is among Coconut Palm Acquisition Corp., a Delaware corporation, with offices at 595 South
Federal Highway, Suite 500, Boca Raton, Florida, 33432 (the “Company”) and Morgan Joseph & Co. Inc.
(“Morgan Joseph”), EarlyBirdCapital, Inc. (“EarlyBird”), David Nussbaum (“Nussbaum”) and Steven
Levine (“Levine” with Morgan Joseph, EarlyBird, Nussbaum and Levine referred to collectively as the
“Option Holders”).

     WHEREAS, the Company and each of the Option Holders separately are parties to a Unit Purchase
Option, dated as of September 8, 2005 (each separately the “Unit Purchase Option”) providing for
the issuance of Purchase Options (as defined in the Unit Purchase Option) to each of the Option
Holders; and

     WHEREAS, as a result of certain questions that have arisen regarding the accounting treatment
applicable to the Purchase Option, the parties hereto deem it necessary and desirable to amend the
Unit Purchase Option to clarify that the Option Holder does not have the right, and did not have
the right at the time of issuance of the Purchase Option, to receive a net cash settlement in the
event the Company does not maintain a current prospectus relating to the units, common stock and
warrants issuable upon exercise of the Purchase Option at the time such Purchase Option is
exercisable.

     NOW, THEREFORE, in consideration of the mutual agreements contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending
to be legally bound hereby, the parties hereto agree to amend the Unit Purchase Option as set forth
herein.

     1. Unit Purchase Option. The undersigned hereby agree that each Unit Purchase
Option is hereby amended by adding the following as Section 2.1.1:

     “2.1.1 No Exercise of Purchase Option if a Registration Statement is not
Effective. Notwithstanding anything herein to the contrary, the Company shall not be obligated
to deliver any securities pursuant to the exercise of this Purchase Option unless (i) a
registration statement under the Act with respect to the Units, Warrants and Common Stock issuable
upon such exercise is effective and the registration statement’s prospectus is current, or (ii) in
the opinion of counsel to the Company or counsel to the Holder reasonably satisfactory to the
Company, the exercise of this Purchase Option is exempt from the registration requirements of the
Act and such securities are qualified for sale or exempt from qualification under applicable
securities laws of the states or other jurisdictions in which the registered holders reside. This
Purchase Option may not be exercised by, or securities issued to, any registered holder in any
state in which such exercise or issuance would be unlawful. The Holders are not, and at the time
of the initial issuance of this Purchase Option were not, entitled to receive a net-cash settlement
or other consideration in lieu of physical settlement in securities if the securities underlying
this Purchase Option are not covered by an effective registration statement which contains a
current prospectus.

 

 

     2. Damages. The undersigned hereby agree that solely for the reason outlined in the
recital clause of this Agreement and without otherwise in any way limiting any rights the Option
Holder may have under applicable law as a result of a breach by the Company of any provision of the
Unit Purchase Option, each Unit Purchase Option is hereby amended by deleting Section 5.3 in its
entirety.

     3. Miscellaneous.

          a. Governing Law; Jurisdiction. The validity, interpretation, and performance of
this Agreement shall be governed in all respects by the laws of the State of New York, without
giving effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim
against it arising out of or relating in any way to this Agreement shall be brought and enforced in
the courts of the State of New York or the United States District Court for the Southern District
of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.
The Company hereby waives any objection to such exclusive jurisdiction and that such courts
represent an inconvenient forum. Any such process or summons to be served upon the Company may be
served by transmitting a copy thereof by registered or certified mail, return receipt requested,
postage prepaid, addressed to it in care of the address set forth above or such other address as
the undersigned shall furnish in writing to the other. Such mailing shall be deemed personal
service and shall be legal and binding upon the Company in any action, proceeding or claim.

          b. Binding Effect. This Agreement shall be binding upon and inure to the benefit
of the parties hereto and to their respective heirs, legal representatives, successors and assigns.

          c. Entire Agreement. This Agreement sets forth the entire agreement and
understanding between the parties as to the subject matter thereof and merges and supersedes all
prior discussions, agreements and understandings of any and every nature among them. This Agreement
shall form and be a part of the Unit Purchase Option. Except as set forth in this Agreement,
provisions of the original Unit Purchase Option which are not inconsistent with this Agreement
shall remain in full force and effect. This Agreement may be executed in counterparts.

          d. Severability. This Agreement shall be deemed severable, and the invalidity or
unenforceability of any term or provision hereof shall not affect the validity or enforceability of
this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part
of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may
be possible and be valid and enforceable.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above.

2

 

	 	 	 	 	 
	 	COCONUT PALM ACQUISITION CORP.

 	 
	 	By:  	/s/              Richard C. Rochon
 	 
	 	 	Name:  	Richard C. Rochon 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 
	 	MORGAN JOSEPH & CO. INC.

 	 
	 	By:  	/s/
Michael Powell
 	 
	 	 	Name:  	Michael Powell 	 
	 	 	Title:  	Managing Director 	 
	 
	 	EARLYBIRDCAPITAL, INC.

 	 
	 	By:  	/s/
David M. Nussbaum
 	 
	 	 	Name:  	David M. Nussbaum 	 
	 	 	Title:  	Chairman 	 
	 
	 	 	 
	 	/s/ David M. Nussbaum
 	 
	 	David Nussbaum 	 
	 	 	 
	 
	 	 	 
	 	/s/
Steven Levine
 	 
	 	Steven Levine 	 
	 	 	 
	 

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