Common use of Holder Election Clause in Contracts

Holder Election. In the event that the Restructuring is completed prior to the full exercise of this Warrant, the Holder, in its sole discretion and as evidenced by written notice to the Company at any time prior to or following the completion of the Restructuring, shall have the right to elect to cause the Company and Newco to issue to Holder a new warrant of Newco to replace this Warrant (the “Restructuring Replacement Warrant”), which Restructuring Replacement Warrant shall be issued within three business days of such election by Hxxxxx, and shall reflect the terms and conditions herein following the effects of this Section 3(b), and the other provisions herein.