Common use of Expiration Date; Automatic Exercise Clause in Contracts

Expiration Date; Automatic Exercise. This Warrant shall expire at the close of business on March 21, 2012, and shall be void thereafter (the "Expiration Date"). Notwithstanding the foregoing, this Warrant shall automatically be deemed to be exercised in full pursuant to the provisions of Section 4 hereof, without any further action on behalf of the Holder, immediately prior to the time this Warrant would otherwise expire pursuant to the preceding sentence, provided, however, that the Company shall have no obligation to issue any shares of Preferred Stock hereunder until the Holder has surrendered this Warrant to the Company as provided herein.

Appears in 2 contracts

Samples: Loan and Security Agreement (NovaCardia Inc), Preferred Stock Purchase Warrant (NovaCardia Inc)

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Expiration Date; Automatic Exercise. This Warrant shall expire at the close of business on March 21July 14, 20122013, and shall be void thereafter (the "Expiration Date"). Notwithstanding the foregoing, this Warrant shall automatically be deemed to be exercised in full pursuant to the provisions of Section 4 hereof, without any further action on behalf of the Holder, immediately prior to the time this Warrant would otherwise expire pursuant to the preceding sentence, provided, however, that the Company shall have no obligation to issue any shares of Preferred Stock hereunder until the Holder has surrendered this Warrant to the Company as provided herein.

Appears in 2 contracts

Samples: Preferred Stock Purchase Warrant (NovaCardia Inc), Loan and Security Agreement (NovaCardia Inc)

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Expiration Date; Automatic Exercise. This Warrant shall expire at the close of business on March 21April 11, 20122014, and shall be void thereafter (the "Expiration Date"). Notwithstanding the foregoing, this Warrant shall automatically be deemed to be exercised in full pursuant to the provisions of Section 4 hereof, without any further action on behalf of the Holder, immediately prior to the time this Warrant would otherwise expire pursuant to the preceding sentence, provided, however, that the Company shall have no obligation to issue any shares of Preferred Stock hereunder until the Holder has surrendered this Warrant to the Company as provided herein.

Appears in 1 contract

Samples: Preferred Stock Purchase Warrant (NovaCardia Inc)

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