Common use of Merger or Sale Clause in Contracts

Merger or Sale. In case of (i) any consolidation or merger of the Company with or into another corporation (other than a merger with a subsidiary in which merger the Company is the continuing corporation) or (ii) any sale, lease, exchange or other disposition of all or substantially all of the property and assets of the Company not in the usual and regular course of the Company's business and in a transaction or series of transactions requiring shareholder approval under the laws of the State of Colorado, the Company shall cause notice thereof to be given to the Holder at least 30 calendar days prior to the anticipated date of closing of such transaction and, notwithstanding any other provisions of this Agreement, the Warrant shall expire upon the completion of such transaction to the extent not exercised prior to such transaction closing.