Common use of Term and Exercise Period Clause in Contracts

Term and Exercise Period. Subject to the satisfaction or waiver of the Put Option Conditions and Section 3.2 hereof, the Company may exercise the Put Option at any time prior to the Put Option Expiration Date (the “Exercise Period”). If the Company shall not have exercised the Put Option during the Exercise Period, the Put Option shall automatically terminate without any further action by either the Company or the Investor, and, subject to Section 3.2(c) hereof, neither the Company nor the Investor shall have any further rights, duties or obligations hereunder relating to the Put Option.