Common use of Duration of and Restrictions on Equity Warrants Clause in Contracts

Duration of and Restrictions on Equity Warrants. (a) Each Equity Warrant issued in exchange for an Expedia Warrant is subject to the same vesting schedule as the New Linked Options that are issued in exchange for the Initial Linked Options related to such Expedia Equity Warrant, and each Equity Warrant shall be deemed vested to the same extent as and proportionate to the respective New Linked Options. Upon the forfeiture of a New Linked Option related to an Equity Warrant, such Equity Warrant shall be automatically forfeited without any further action required on the part of the Company or the Holder. The Equity Warrant Agent shall not permit the exercise or transfer of an Equity Warrant by the initial holder thereof until it has received confirmation in a manner mutually agreed upon between the Equity Warrant Agent and the Company that as of the date of exercise the Equity Warrant has not been forfeited, and the Equity Warrant Agent may rely conclusively on such confirmation and the Equity Warrant Agent shall have no obligation or duty to investigate or confirm the accuracy thereof. (b) Each Equity Warrant (i) not exercised on or prior to the Expiration Date, or (ii) forfeited pursuant to Section 3.2(a), shall become void, and all rights of the Holder of such Equity Warrant thereunder and under this Agreement shall cease.

Duration of and Restrictions on Equity Warrants. (a) Each Equity Warrant issued in exchange for an Expedia Warrant is subject to the same vesting schedule as the New Linked Options that are issued (as such term is defined in exchange for the Initial Linked Options related to such Expedia Equity Warrant2003 IAC Warrant Agreement), and each Equity Warrant shall be deemed vested to the same extent as and proportionate to the respective New Linked Options. Upon the forfeiture of a New Linked Option related to an Equity Warrant, such Equity Warrant shall be automatically forfeited without any further action required on the part of the Company or the Holder. The Equity Warrant Agent shall not permit the exercise or transfer of an Equity Warrant by the initial holder thereof until it has received confirmation in a manner mutually agreed upon between the Equity Warrant Agent and the Company that as of the date of exercise the Equity Warrant has not been forfeited, and the Equity Warrant Agent may rely conclusively on such confirmation and the Equity Warrant Agent shall have no obligation or duty to investigate or confirm the accuracy thereof. (b) Each Equity Warrant (i) not exercised on or prior to the Expiration Date, or (ii) forfeited pursuant to Section 3.2(a), shall become void, and all rights of the Holder of such Equity Warrant thereunder and under this Agreement shall cease.

Duration of and Restrictions on Equity Warrants. (a) Each Equity Warrant issued in exchange for an Expedia Warrant (i) is subject to the same vesting schedule as the New Linked Underlying Options that are issued in exchange for respect of which the Initial Linked Options related to such Expedia Equity Warrant, and each Equity Warrant is issued and shall be deemed vested to the same extent as and proportionate to the respective New Linked Underlying Options, and (ii) notwithstanding Section 3.2(a)(i), may not be exercised and may not be transferred (other than by will or by the laws of descent and distribution) for a period of 90 days following the Distribution Date, and during such 90 day period, each Equity Warrant Certificate shall bear a stop transfer order to such effect. Upon the forfeiture of a New Linked the Underlying Option related to an in respect of which the Equity WarrantWarrant is issued, such Equity Warrant shall be automatically forfeited without any further action required on the part of the Company or the Holder. The Equity Warrant Agent shall not permit the exercise or transfer of an Equity Warrant by the initial holder thereof until it has received confirmation in a manner mutually agreed upon between the Equity Warrant Agent and the Company that as of the date of exercise the Equity Warrant has not been forfeited, and the Equity Warrant Agent may rely conclusively on such confirmation and the Equity Warrant Agent shall have no obligation or duty to investigate or confirm the accuracy thereof. (b) If a Holder exercises its Underlying Options on or following the Distribution Date and on or prior to the Closing Date, the Holder will forfeit its right to the Equity Warrants issued in respect of such Underlying Options on the Distribution Date, and such Equity Warrants will be automatically canceled without any further action required on the part of the Company or the Holder. (c) Each Equity Warrant (i) not exercised on or prior to the Expiration Date, or (ii) forfeited canceled pursuant to Section 3.2(a) or (b), shall become void, and all rights of the Holder of such Equity Warrant thereunder and under this Agreement shall cease.