Common use of TERM OF THE WARRANT AGREEMENT Clause in Contracts

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period of (i) seven (7) years or (ii) three (3) years from the effective date of the Company's initial public offering ("IPO"), whichever is longer. Notwithstanding the foregoing, upon receipt by Warrantholder of a written request by the Company's underwriters, the Warrantholder shall exercise its rights to purchase Preferred Stock hereunder as of the effective date of the IPO so long as the purchase price per share is equal to or greater than the Exercise Price. The foregoing exercise at IPO is contingent upon the underwriter's notice being received by Warrantholder a minimum of ten (10) business days prior to the effective date of the IPO and if the underwriters fail to deliver such notice within the aforementioned time period, then notwithstanding anything to the contrary in this Warrant Agreement, the rights to purchase the Company's Preferred Stock shall not expire until the underwriters comply with such notice provisions. Such notice shall also contain such details of the IPO as are reasonable in the circumstances. If the IPO does not take place, the Company shall promptly notify the Warrantholder and the Warrantholder may rescind any exercise of its purchase rights promptly after such notice. In the event of such rescission, the Warrant Agreement will continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period of (i) seven (7) years or (ii) three (3) years from the effective date of the Company's initial public offering ("IPO"), whichever is longeryears. Notwithstanding the foregoing, this Warrant shall terminate, if not previously exercised immediately upon receipt by Warrantholder the consummation of (i) a written request by consolidation or merger of the Company with or into any other corporation or corporations in which the shareholders of the Company immediately prior to such transaction own less than fifty percent (50%) of the shares of capital stock of the surviving corporation (other than a mere reincorporation transaction), or (ii) the sale of all or substantially all of the assets of the Company's underwriters, the Warrantholder shall exercise its rights to purchase Preferred Stock hereunder as or a series of related transactions in which more than fifty percent (50%) of the effective date voting power of the IPO so long as the purchase price per share Company is equal to or greater than the Exercise Pricedisposed, ("Change of Control"). The foregoing exercise at IPO is contingent upon the underwriter's notice being received by Company shall notify Warrantholder a minimum of ten twenty (1020) business days prior to the effective date closing of the IPO such Change of Control, and if the underwriters fail Company fails to deliver provide such notice within the aforementioned time periodnotice, then notwithstanding anything to the contrary contained in this Warrant AgreementWarrant, the rights right to purchase the Company's Preferred Stock shall not expire until the underwriters comply Company complies with such notice provisions. Such notice shall also contain such details of the IPO transaction as are reasonable in under the circumstances. If the IPO such closing does not take place, place the Company shall promptly notify Warrantholder that the Warrantholder proposed Change of Control has terminated and the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination. In the event of such rescissionrecession, the Warrant Agreement will shall continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period of (i) seven (7) years or (ii) three (3) years from the effective date of the Company's initial public offering ("IPO")offering, whichever is longer. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by the Company's underwritersthis Warrant Agreement as set forth above, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted shall expire, if not previously exercised, immediately upon the closing of the effective date issuance and sale of shares of Common Stock of the IPO Company in the Company's first public offering of securities for its own account pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Initial Public Offering"), provided that the underwriters so long as request that the purchase price per share is equal to or greater than the Exercise PriceWarrantholder exercise at that time. The foregoing exercise at IPO Company shall notify the Warrantholder if the Initial Public Offering is contingent upon the underwriter's notice being received by Warrantholder proposed within a minimum reasonable period of ten (10) business days time prior to the effective date filing of the IPO a registration statement and if the underwriters fail Company fails to deliver such written notice within the aforementioned time perioda reasonable period of time, then notwithstanding anything to the contrary in this Warrant AgreementAgreement notwithstanding, the rights to purchase the Company's Preferred Stock shall will not expire until ten (10) business days after the underwriters comply with Company delivers such notice provisionsto the Warrantholder. Such notice shall also contain such details of the IPO proposed Initial Public Offering as are reasonable in the circumstancescircumstances and notice that this Warrant Agreement is expected to expire upon closing thereof. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder and that such proposed transaction has been terminated. Anything to the contrary in this Warrant Agreement notwithstanding, the Warrantholder may rescind any exercise of its purchase rights promptly after such notice. In notice of termination of the event proposed transaction if the exercise of such rescission, warrants occurred after the Warrant Agreement will continue to be exercisable on Company notified the same terms and conditions contained herein.Warrantholder that the Initial Public Offering was proposed or if the exercise were otherwise precipitated by such

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on upon the Effective Date close of the Next Round and shall be exercisable for a period of (i) seven (7) years or (ii) three (3) years from the effective date of the Company's initial public offering ("IPO")offering, whichever is longer. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by the Company's underwritersthis Warrant Agreement as set forth above, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted shall expire, if not previously exercised, immediately upon the closing of the effective date issuance and sale of shares of Common Stock of the IPO Company in the Company's first public offering of securities for its own account pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Initial Public Offering"), provided that the Preferred stock issuable to Warrantholder upon exercise hereof shall be included in such registration statement, and provided further that the underwriters so long as request that the purchase price per share is equal to or greater than the Exercise PriceWarrantholder exercise at that time. The foregoing exercise at IPO Company shall notify the Warrantholder if the Initial Public Offering is contingent upon the underwriter's notice being received by Warrantholder proposed within a minimum reasonable period of ten (10) business days time prior to the effective date filing of the IPO a registration statement and if the underwriters fail Company fails to deliver such written notice within the aforementioned time perioda reasonable period of time, then notwithstanding anything to the contrary in this Warrant AgreementAgreement notwithstanding, the rights to purchase the Company's Preferred Stock shall will not expire until ten (10) business days after the underwriters comply with Company delivers such notice provisionsto the Warrantholder. Such notice shall also contain such details of the IPO proposed Initial Public Offering as are reasonable in the circumstancescircumstances and notice that this Warrant Agreement is expected to expire upon closing thereof. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder and that such proposed transaction has been terminated. Anything to the contrary in this Warrant Agreement notwithstanding, the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of warrants occurred after the Company notified the Warrantholder that the Initial Public Offering was proposed or if the exercise were otherwise precipitated by such proposed Initial Public Offering. In the event of such rescission, the Warrant Agreement Warrants will continue to be exercisable on the same terms and conditions contained hereinconditions.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period of (i) seven ten (710) years or (ii) three five (35) years from the effective date of the Company's initial public offering ("IPO")offering, whichever is longershorter. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by the Company's underwritersthis Warrant Agreement as set forth above, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted shall expire, if not previously exercised, immediately upon the closing of (i) the issuance and sale of shares of Common Stock of the Company in the Company's first public offering of securities for its own account pursuant to an effective date registration statement under the Securities Act of 1933, as amended (the "Initial Public Offering"), provided that net proceeds to the Company exceed $10,000,000, and provided further that the Warrantholder is afforded an opportunity to include Registrable Securities issuable upon exercise hereof in such initial Public Offering in accordance with the terms of the IPO so long as Company's Investors' Rights Agreement or (ii) a merger of consolidation of the purchase price per share Company with or into another corporation when the Company is not the surviving corporation, or the sale of all or substantially all of the Company's properties and assets to any other person (the "Merger"), provided that the holders of Warrantholder realizes a value for its shares of Preferred Stock issuable hereunder receive consideration with a value equal to or greater than the Exercise Price$2.35 per share in such Merger. The foregoing exercise at IPO Company shall notify the Warrantholder if the Initial Public Offering or Merger is contingent upon the underwriter's notice being received by Warrantholder proposed within a minimum reasonable period of ten (10) business days time prior to the effective date filing of the IPO a registration statement and if the underwriters fail Company fails to deliver such written notice within the aforementioned time perioda reasonable period of time, then notwithstanding anything to the contrary in this Warrant AgreementAgreement notwithstanding, the rights to purchase the Company's Preferred Stock shall will not expire until ten (10) business days after the underwriters comply with Company delivers such notice provisionsto the Warrantholder. Such notice shall also contain such details of the IPO proposed Initial Public Offering or Merger as are reasonable in the circumstances. If the IPO does not take place, the Company shall promptly notify the Warrantholder circumstances and the Warrantholder may rescind any exercise of its purchase rights promptly after such notice. In the event of such rescission, the notice that this Warrant Agreement will continue is expected to be exercisable on the same terms and conditions contained hereinexpire upon closing thereof.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period of (i) seven ten (710) years or (ii) three five (35) years from the effective date of the Company's ’s initial public offering ("IPO")offering, whichever is longershorter. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by this Warrant Agreement fixed pursuant to the Company's underwritersabove paragraph, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted herein shall expire, if not previously exercised immediately upon the closing of a merger or consolidation of the effective date Company with or into another corporation when the Company is not the surviving corporation, or the sale of all or substantially all of the IPO so long as Company’s properties and assets to any other person (the purchase price per share is “Merger”) provided in which Warrantholder realizes a value for its shares equal to or greater than that a per share of at least 3 times the Exercise Price. The foregoing exercise at IPO Company shall notify the Warrantholder if the Merger is contingent upon proposed in accordance with the underwriter's notice being received by Warrantholder a minimum terms of ten (108(f) business days prior to the effective date of the IPO hereof, and if the underwriters fail Company fails to deliver such notice within the aforementioned time periodwritten notice, then notwithstanding anything to the contrary in this Warrant Agreement, the rights to purchase the Company's ’s Preferred Stock shall not expire until the underwriters comply Company complies with such notice provisions. Such notice shall also contain such details of the IPO proposed Merger as are reasonable in the circumstances. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder that such proposed transaction has been terminated, and the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of Warrants has occurred after the Company notified the Warrantholder that the Merger was proposed. In the event of such rescissionrecission, the Warrant Agreement Warrants will continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and and, subject to Section 1, shall be exercisable for a period of (i) seven (7) years or (ii) three (3) years from the effective date of the Company's initial public offering ("IPO")offering, whichever is longer. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by this Warrant Agreement fixed pursuant to the Company's underwritersabove paragraph, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted herein shall expire, if not previously exercised immediately upon the closing of a merger or consolidation of the effective date Company with or into another corporation when the Company is not the surviving corporation, or the sale of all or substantially all of the IPO Company's properties and assets to any other person, that results in the holders of the Company's voting equity securities immediately prior to such event owing less than a majority interest in the voting securities of the surviving or successor corporation immediately following such event (the "Merger); provided that the surviving or successor corporation so long as request that the purchase price per share is equal to or greater than the Exercise PriceWarrantholder exercised at that time. The foregoing exercise at IPO Company shall notify the Warrantholder if the Merger is contingent upon proposed in accordance with the underwriter's notice being received by Warrantholder a minimum terms of ten (108(g) business days prior to the effective date of the IPO hereof, and if the underwriters fail Company fails to deliver such notice within the aforementioned time periodwritten notice, then notwithstanding anything to the contrary in this Warrant Agreement, the rights to purchase the Company's Preferred Stock shall not expire until the underwriters comply Company complies with such notice provisions. Such notice shall also contain such details of the IPO proposed Merger as are reasonable in the circumstances. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder that such proposed transaction has been terminated, and the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of Warrants has occurred after the Company notified the Warrantholder that the Merger was proposed. In the event of such rescissionrecission, the Warrant Agreement Warrants will continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Common Stock as granted herein shall commence on the Original Effective Date Dates and shall be exercisable for until July 18, 2006. Notwithstanding the term of this Warrant Agreement fixed pursuant to the above paragraph, the right to purchase Common Stock as granted herein shall expire, if not previously exercised, immediately upon the closing of a period merger or consolidation of (i) seven (7) years the Company with or (ii) three (3) years from into another corporation when the effective date Company is not the surviving corporation, or the sale of all or substantially all of the Company's initial public offering properties and assets to any other person (a "IPOMerger"), whichever is longer. Notwithstanding the foregoing, upon receipt by provided that Warrantholder of realizes in such transaction a written request by the Company's underwriters, the Warrantholder shall exercise value for its rights to purchase Preferred Stock hereunder as of the effective date of the IPO so long as the purchase price per share is shares equal to or greater than the Exercise Price$17.68 per share of Common Stock. The foregoing exercise at IPO Company shall notify the Warrantholder in accordance with the terms of 8(f) hereof if a Merger is contingent upon the underwriter's notice being received by Warrantholder a minimum of ten (10) business days prior to the effective date of the IPO proposed, and if the underwriters fail Company fails to deliver such notice within the aforementioned time periodwritten notice, then notwithstanding anything to the contrary in this Warrant Agreement, the rights to purchase the Company's Preferred Common Stock shall not expire until the underwriters comply Company complies with such notice provisions. Such notice shall also contain such details of the IPO proposed Merger as are reasonable in the circumstances. If the IPO closing of the Merger does not take place, the Company shall promptly notify the Warrantholder that such proposed transaction has been terminated, and the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of Warrants occurred after the Company notified the Warrantholder that the Merger was proposed. In the event of such rescission, the this Warrant Agreement will continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Common Stock as granted herein shall commence on the Original Effective Date and shall be exercisable for until July 18, 2006. Notwithstanding the term of this Warrant Agreement fixed pursuant to the above paragraph, the right to purchase Common Stock as granted herein shall expire, if not previously exercised, immediately upon the closing of a period merger or consolidation of (i) seven (7) years the Company with or (ii) three (3) years from into another corporation when the effective date Company is not the surviving corporation, or the sale of all or substantially all of the Company's initial public offering properties and assets to any other person (a "IPOMerger"), whichever is longer. Notwithstanding the foregoing, upon receipt by provided that Warrantholder of realizes in such transaction a written request by the Company's underwriters, the Warrantholder shall exercise value for its rights to purchase Preferred Stock hereunder as of the effective date of the IPO so long as the purchase price per share is shares equal to or greater than the Exercise Price$103.80 per share of Common Stock. The foregoing exercise at IPO Company shall notify the Warrantholder in accordance with the terms of 8(e) hereof if a Merger is contingent upon the underwriter's notice being received by Warrantholder a minimum of ten (10) business days prior to the effective date of the IPO proposed, and if the underwriters fail Company fails to deliver such notice within the aforementioned time periodwritten notice, then notwithstanding anything to the contrary in this Warrant Agreement, the rights to purchase the Company's Preferred Common Stock shall not expire until the underwriters comply Company complies with such notice provisions. Such notice shall also contain such details of the IPO proposed Merger as are reasonable in the circumstances. If the IPO closing of the Merger does not take place, the Company shall promptly notify the Warrantholder that such proposed transaction has been terminated, and the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of this Warrant Agreement occurred after the Company notified the Warrantholder that the Merger was proposed. In the event of such rescission, the this Warrant Agreement will continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period of (i) seven ten (710) years or (ii) three five (35) years from the effective date of the Company's ’s initial public offering ("IPO")offering, whichever is longershorter. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by this Warrant Agreement fixed pursuant to the Company's underwritersabove paragraph, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted herein shall expire, if not previously exercised immediately upon the closing of a merger or consolidation of the effective date Company with or into another corporation when the Company is not the surviving corporation, or the sale of all or substantially all of the IPO so long as Company’s properties and assets to any other person (the purchase price per share is “Merger”) provided in which Warrantholder realizes a value for its shares equal to or greater than a per share price of at least 3 times the Exercise Price. The foregoing exercise at IPO Company shall notify the Warrantholder if the Merger is contingent upon proposed in accordance with the underwriter's notice being received by Warrantholder a minimum terms of ten (108(f) business days prior to the effective date of the IPO hereof, and if the underwriters fail Company fails to deliver such notice within the aforementioned time periodwritten notice, then notwithstanding anything to the contrary in this Warrant Agreement, the rights to purchase the Company's ’s Preferred Stock shall not expire until the underwriters comply Company complies with such notice provisions. Such notice shall also contain such details of the IPO proposed Merger as are reasonable in the circumstances. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder that such proposed transaction has been terminated, and the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of Warrants has occurred after the Company notified the Warrantholder that the Merger was proposed. In the event of such rescission, the Warrant Agreement Warrants will continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and and, subject to Section 1, shall be exercisable for a period of of: (i) seven ten (710) years years; or (ii) three five (35) years from the effective date of the Company's initial public offering ("IPO")offering, whichever is longerearlier. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by this Warrant Agreement fixed pursuant to the Company's underwritersabove paragraph, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted herein shall expire, if not previously exercised, immediately upon the closing of a merger or consolidation of the effective date Company with or into another corporation, when the Company is not the surviving corporation, or the sale of all or substantially all of the IPO Company's properties and assets to any other person, that results in the holders of the Company's voting equity securities immediately prior to such event owning less than a majority interest in the voting securities of the surviving or successor corporation immediately following such event (the "Merger"); provided that the surviving or successor corporation so long as request that the purchase price per share is equal to or greater than the Exercise PriceWarrantholder exercise at that time. The foregoing exercise at IPO Company shall notify the Warrantholder if the Merger is contingent upon proposed in accordance with the underwriter's notice being received by Warrantholder a minimum terms of ten (108(g) business days prior to the effective date of the IPO hereof, and if the underwriters fail Company fails to deliver such notice within the aforementioned time periodwritten notice, then notwithstanding anything to the contrary in this Warrant Agreement, the rights to purchase the Company's Preferred Stock shall not expire until the underwriters comply Company complies with such notice provisions. Such notice shall also contain such details of the IPO proposed Merger as are reasonable in the circumstances. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder that such proposed transaction has been terminated, and the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of Warrants has occurred after the Company notified the Warrantholder that the Merger was proposed. In the event of such rescissionrecission, the Warrant Agreement Warrants will continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period ending upon the earlier of (i) seven (7) years from the Effective Date of this Warrant Agreement or (ii) three two (32) years from the effective date of the Company's initial public offering ("IPO"), whichever is longeroffering. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by this Warrant Agreement fixed pursuant to the Company's underwritersabove paragraph, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted herein shall expire, if not previously exercised immediately upon the closing of a merger or consolidation of the effective date Company with or into another corporation when the Company is not the surviving corporation, or the sale of all or substantially all of the IPO so long as Company's properties and assets to any other person (the purchase price per share is "Merger") provided in which Warrantholder realizes a value for its shares equal to or greater than the Exercise Price$4.98 per share. The foregoing exercise at IPO Company shall notify Warrantholder if the Merger is contingent upon proposed in accordance with the underwriter's notice being received by Warrantholder a minimum terms of ten (108(f) business days prior to the effective date of the IPO hereof, and if the underwriters fail Company fails to deliver such notice within the aforementioned time periodwritten notice, then notwithstanding anything to the contrary in this Warrant Agreement, the rights to purchase the Company's Preferred Stock shall not expire until the underwriters comply Company complies with such notice provisions. Such notice shall also contain such details of the IPO proposed Merger as are reasonable in the circumstances. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder that such proposed transaction has been terminated, and the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of Warrants has occurred after the Company notified the Warrantholder that the Merger was proposed. In the event of such rescissionrecission, the Warrant Agreement Warrants will continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period of (i) seven (7) years or (ii) three (3) years from the effective date of the Company's initial public offering ("IPO")offering, whichever is longershorter. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by this Warrant Agreement fixed pursuant to the Company's underwritersabove paragraph, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted herein shall expire, if not previously exercised immediately upon the closing of a merger or consolidation of the effective date Company with or into another corporation when the Company is not the surviving corporation, or the sale of all or substantially all of the IPO so long as Company's properties and assets to any other person (the purchase price per share is "Merger") provided in which Warrantholder realizes a value for its shares equal to or greater than the Exercise Pricethat $2.19 per share. The foregoing exercise at IPO Company shall notify the Warrantholder if the Merger is contingent upon proposed in accordance with the underwriter's notice being received by Warrantholder a minimum terms of ten (108(f) business days prior to the effective date of the IPO hereof, and if the underwriters fail Company fails to deliver such notice within the aforementioned time periodwritten notice, then notwithstanding anything to the contrary in this Warrant Agreement, the rights to purchase the Company's Preferred Stock shall not expire until the underwriters comply Company complies with such notice provisions. Such notice shall also contain such details of the IPO proposed Merger as are reasonable in the circumstances. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder that such proposed transaction has been terminated, and the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of Warrants has occurred after the Company notified the Warrantholder that the Merger was proposed. In the event of such rescissionrecission, the Warrant Agreement Warrants will continue to be exercisable on the same terms and conditions contained herein.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period of (i) seven ten (710) years or (ii) three (3) years from upon the effective date of the Company's initial public offering Initial Public Offering ("IPO"as defined below), whichever is longerearlier. Notwithstanding the foregoing, upon receipt by Warrantholder of a written request by the Company's underwriters, the Warrantholder shall exercise its rights The right to purchase Preferred Stock hereunder as set forth above shall expire, if not previously exercised, immediately upon the closing of the effective date issuance and sale of shares of Common Stock of the IPO so long Company in the Company's first public offering of securities for its own account pursuant to an effective registration statement under the Securities Act of 1933, as amended (the purchase price per share is equal "Initial Public Offering"), provided however that the Preferred Stock issued to or greater than the Exercise PriceWarrantholder upon exercise of the Warrant Agreement shall have all the identical rights, preferences and privileges of the Company's other outstanding Preferred Stock. The foregoing exercise at IPO Company shall notify the Warrantholder if the Initial Public Offering is contingent upon the underwriter's notice being received by Warrantholder proposed within a minimum reasonable period of ten (10) business days time prior to the effective date filing of the IPO a registration statement and if the underwriters fail Company fails to deliver such written notice within the aforementioned time perioda reasonable period of time, then notwithstanding anything to the contrary in this Warrant AgreementAgreement notwithstanding, the rights to purchase the Company's Preferred Stock shall will not expire until ten (10) business days after the underwriters comply with Company delivers such notice provisionsto the Warrantholder. Such notice shall also contain such details of the IPO proposed Initial Public Offering as are reasonable in the circumstancescircumstances and notice that this Warrant Agreement is expected to expire upon closing thereof. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder and that such proposed transaction has been terminated. Anything to the contrary in this Warrant Agreement notwithstanding, the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of warrants occurred after the Company notified the Warrantholder that the Initial Public Offering was proposed or if the exercise were otherwise precipitated by such proposed Initial Public Offering. In the event of such rescission, the Warrant Agreement Warrants will continue to be exercisable on the same terms and conditions contained hereinconditions.

TERM OF THE WARRANT AGREEMENT. Except as otherwise provided for herein, the term of this Warrant Agreement and the right to purchase Preferred Stock as granted herein shall commence on the Effective Date earlier of (a) the close of the Next Round or (b) October 27, 2000 and shall be exercisable for a period of (i) seven (7) years or (ii) three (3) years from the effective date of the Company's initial public offering ("IPO")offering, whichever is longer. Notwithstanding the foregoing, upon receipt by Warrantholder term of a written request by the Company's underwritersthis Warrant Agreement as set forth above, the Warrantholder shall exercise its rights right to purchase Preferred Stock hereunder as granted shall expire, if not previously exercised, immediately upon the closing of the effective date issuance and sale of shares of Common Stock of the IPO Company in the Company's first public offering of securities for its own account pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Initial Public Offering"), provided that the Preferred Stock issuable to Warrantholder upon exercise hereof shall be included in such registration statement, and provided further that the underwriters so long as request that the purchase price per share is equal to or greater than the Exercise PriceWarrantholder exercise at that time. The foregoing exercise at IPO Company shall notify the Warrantholder if the Initial Public Offering is contingent upon the underwriter's notice being received by Warrantholder proposed within a minimum reasonable period of ten (10) business days time prior to the effective date filing of the IPO a registration statement and if the underwriters fail Company fails to deliver such written notice within the aforementioned time perioda reasonable period of time, then notwithstanding anything to the contrary in this Warrant AgreementAgreement notwithstanding, the rights to purchase the Company's Preferred Stock shall will not expire until ten (10) business days after the underwriters comply with Company delivers such notice provisionsto the Warrantholder. Such notice shall also contain such details of the IPO proposed Initial Public Offering as are reasonable in the circumstancescircumstances and notice that this Warrant Agreement is expected to expire upon closing thereof. If the IPO such closing does not take place, the Company shall promptly notify the Warrantholder and that such proposed transaction has been terminated. Anything to the contrary in this Warrant Agreement notwithstanding, the Warrantholder may rescind any exercise of its purchase rights promptly after such noticenotice of termination of the proposed transaction if the exercise of warrants occurred after the Company notified the Warrantholder that the Initial Public Offering was proposed or if the exercise were otherwise precipitated by such proposed Initial Public Offering. In the event of such rescission, the Warrant Agreement Warrants will continue to be exercisable on the same terms and conditions contained hereinconditions.