Common use of Acceleration of Term Clause in Contracts

Acceleration of Term. Notwithstanding the term of this Warrant Agreement fixed pursuant to Section 2(a) hereof and the provisions of Section 8(a) below, the right to purchase Preferred Stock as granted herein shall expire, if not previously exercised, immediately upon either: (i) the closing of the issuance and sale of shares of Common Stock of the Company in the Company's first public offering of securities for its own account pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Initial Public Offering"), provided that the Common Stock issuable to Warrantholder upon the automatic conversion from Preferred Stock issuable to Warrantholder upon exercise hereof shall be included in such registration statement only upon request of Warrantholder; or (ii) a merger of the Company with or into another corporation provided that such merger results in a per share value of $6.00 or more for Lessee's stock (the "Accelerating Merger"). 2 The Company shall notify the Warrantholder if the Initial Public Offering or Accelerating Merger is proposed, within a reasonable period of time prior to the filing of a registration statement or a firm commitment with respect to an Accelerating Merger, as applicable, and i. the Company fails to deliver such written notice within a reasonable period of time, anything to the contrary in this Warrant Agreement notwithstanding, the rights to purchase will not expire until ten (10) business days after the Company delivers such notice to the Warrantholder. Such notice shall also contain such details of the proposed Initial Public Offering or Accelerating Merger as are reasonable in the circumstances and notice that this warrant Agreement is expected to expire upon closing thereof. If such closing does not take place, the company shall promptly notify the warrantholder that such proposed transaction has been terminated. Anything to the contrary in this Warrant Agreement notwithstanding, the Warrantholder may rescind any exercise of its purchase rights promptly after such notice of termination of the proposed transaction if the exercise of Warrants occurred after the Company notified the Warrantholder that the Initial Public Offering or Accelerating Merger was proposed or if the exercise were otherwise precipitated by such proposed Initial Public Offering or Accelerating Merger. In event of such rescission, the Warrants will continue to be exercisable on the name terms and conditions.

Acceleration of Term. Notwithstanding the term of this Warrant Agreement fixed pursuant to Section 2(a) hereof and the provisions of Section 8(a) below, the right to purchase Preferred Stock as granted herein shall expire, if not previously exercised, immediately upon either: (i) the closing of the issuance and sale of shares of Common Stock of the Company in the Company's first public offering of securities for its own account pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Initial Public Offering"), provided that the Common Stock issuable to Warrantholder upon the automatic conversion from Preferred Stock issuable to Warrantholder upon exercise hereof shall be included in such registration statement only upon request of Warrantholder; or (ii) a merger of the Company with or into another corporation provided that such merger results in a per share value of $6.00 2.00 or more for Lessee's stock (the "Accelerating Merger"). 2 The Company shall notify the Warrantholder if the Initial Public Offering or Accelerating Merger is proposed, within a reasonable period of time prior to the filing of a registration statement or a firm commitment with respect to an Accelerating Merger, as applicable, and i. if the Company fails to deliver such written notice within a reasonable period of time, anything to the contrary in this Warrant Agreement notwithstanding, the rights to purchase will not expire until ten (10) business days after the Company delivers such notice to the Warrantholder. Such notice shall also contain such details of the proposed Initial Public Offering or Accelerating Merger as are reasonable in the circumstances and notice that this warrant Warrant Agreement is expected to expire upon closing thereof. If such closing does not take place, the company shall promptly notify the warrantholder Warrantholder that such proposed transaction has been terminated. Anything to the contrary in this Warrant Agreement notwithstanding, the Warrantholder may rescind any exercise of its purchase rights promptly after such notice of termination of the proposed transaction if the exercise of Warrants occurred after the Company notified the Warrantholder that the Initial Public Offering or Accelerating Merger was proposed or if the exercise were otherwise precipitated by such proposed Initial Public Offering or Accelerating Merger. In event of such rescission, the Warrants will continue to be exercisable on the name same terms and conditions.

Acceleration of Term. Notwithstanding the term of this Warrant Agreement fixed pursuant to Section 2(a) hereof and the provisions of Section 8(a8 (a) below, the right to purchase Preferred Stock as granted herein shall expire, if not previously exercised, immediately upon either: (i) the closing of the issuance and sale of shares of Common Stock of the Company in the Company's first public offering of securities for its own account pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Initial Public Offering"), provided that the Common Stock issuable to Warrantholder upon the automatic conversion from Preferred Stock issuable to Warrantholder upon exercise hereof shall be included in such registration statement only upon request of Warrantholder; or (ii) a merger of the Company with or into another corporation provided that such merger results in a per share value of $6.00 or more for Lessee's stock (the "Accelerating Merger"). 2 The Company shall notify the Warrantholder if the Initial Public Offering or Accelerating Merger is proposed, within a reasonable period of time prior to the filing of a registration statement or a firm commitment with respect to an Accelerating Merger, as applicable, and i. if the Company fails to deliver such written notice within a reasonable period of time, anything to the contrary in this Warrant Agreement notwithstanding, the rights to purchase will not expire until ten (10) business days after the Company delivers such notice to the Warrantholder. Such notice shall also contain such details of the proposed Initial Public Offering or Accelerating Merger as are reasonable in the circumstances and notice that this warrant Warrant Agreement is expected to expire upon closing thereof. If such closing does not take place, the company shall promptly notify the warrantholder Warrantholder that such proposed transaction has been terminated. Anything to the contrary in this Warrant Agreement notwithstanding, the Warrantholder may rescind any exercise of its purchase rights promptly after such notice of termination of the proposed transaction if the exercise of Warrants occurred after the Company notified the Warrantholder that the Initial Public Offering or Accelerating Merger was proposed or if the exercise were otherwise precipitated by such proposed Initial Public Offering or Accelerating Merger. In event of such rescission, the Warrants will continue to be exercisable on the name same terms and conditions.

Acceleration of Term. Notwithstanding the term of this Warrant Agreement fixed pursuant to Section 2(a) hereof and the provisions of Section 8(aB(a) below, the right to purchase Preferred Stock as granted herein shall expire, if not previously exercised, immediately upon either: (i) the closing of the issuance and sale of shares of Common Stock of the Company in the Company's first public offering of securities for its own account pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Initial Public Offering"), provided that the Common Stock issuable to Warrantholder upon the automatic conversion from Preferred Stock issuable to Warrantholder upon exercise hereof shall be included in such registration statement only upon request of Warrantholder; or (ii) a merger of the Company with or into another corporation provided that such merger results in a per share value of $6.00 1.60 or more for Lessee's stock (the "Accelerating Merger"). 2 The Company shall notify the Warrantholder if the Initial Public Offering or Accelerating Merger is proposed, within a reasonable period of time prior to the filing of a registration statement or a firm commitment with respect to an Accelerating Merger, as applicable, and i. if the Company fails to deliver such written notice within a reasonable period of time, anything to the contrary in this Warrant Agreement notwithstanding, the rights to purchase will not expire until ten (10) business days after the Company delivers such notice to the Warrantholder. Such notice shall also contain such details of the proposed Initial Public Offering or Accelerating Merger as are reasonable in the circumstances and notice that this warrant Warrant Agreement is expected to expire upon closing thereof. If such closing does not take place, the company Company shall promptly notify the warrantholder Warrantholder that such proposed transaction has been terminated. Anything to the contrary in this Warrant 2 Agreement notwithstanding, the Warrantholder may rescind any exercise of its purchase rights promptly after such notice of termination of the proposed transaction if the exercise of Warrants occurred after the Company notified the Warrantholder that the Initial Public Offering or Accelerating Merger was proposed or if the exercise were otherwise precipitated by such proposed Initial Public Offering or Accelerating Merger. In event of such rescission, the Warrants will continue to be exercisable on the name same terms and conditions.