Common use of TERM OF THE WARRANT Clause in Contracts

TERM OF THE WARRANT. Except as otherwise provided for herein, the term of this Warrant and the right to purchase Warrant Stock as granted herein shall commence on the Effective Date and shall be exercisable for a period ending upon the earliest to occur of (i) seven (7) years from the Effective Date; (ii) five (5) years after the Initial Public Offering; or (iii) the consummation of a Merger Event in which this Warrant is not assumed by the successor in such transaction and the consideration paid in such transaction consists of cash and/or securities of a class registered pursuant to Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).