Common use of Call Provision Clause in Contracts

Call Provision. Upon completion of a subsequent financing by the Company for gross proceeds of not less than seven million five hundred thousand dollars ($7,500,000), the Company may, at any time during the Term, call for the termination of all or any unexercised portion of this Warrant ("Call"). To exercise this right, the Company must deliver to the Holder, registered on the books of the Company, a written notice (a "Call Notice") indicating that this Company is making a Call and that all Holders have thirty (30) days to exercise any unexercised portion of their Warrants. If the conditions set forth above for such Call are satisfied from the period from the date of the Call Notice through and including the Call Date (as defined below), then any portion of this Warrant subject to such Call Notice for which a notice of exercise shall not have been received by the Call Date will be cancelled at 6:30 p.m. (New York City time) on the thirtieth calendar day after the date of the Call Notice (the "Call Date").

Call Provision. Upon completion of a subsequent financing by the Company for gross proceeds of not less than seven million five hundred thousand dollars ($7,500,000), the Company may, at any time during the Term, call for the termination of all or any unexercised portion of this Warrant ("“Call"”). To exercise this right, the Company must deliver to the Holder, registered on the books of the Company, a written notice (a "“Call Notice"”) indicating that this Company is making a Call and that all Holders have thirty (30) days to exercise any unexercised portion of their Warrants. If the conditions set forth above for such Call are satisfied from the period from the date of the Call Notice through and including the Call Date (as defined below), then any portion of this Warrant subject to such Call Notice for which a notice of exercise shall not have been received by the Call Date will be cancelled at 6:30 p.m. (New York City time) on the thirtieth calendar day after the date of the Call Notice (the "“Call Date"”).