Common use of Delivery of Notice of Exercise Clause in Contracts

Delivery of Notice of Exercise. The Company will deliver written notice to the Investor promptly (and in any event within 5 business days) following the completion of any transaction or series of related transactions covered by Section 3.1(a) (any such transaction or series of transactions, a “Covered Transaction”), which notice shall provide a description of the material terms of the Covered Transaction and identify the number of shares of Common Stock to which the Contingent Purchase Right arising from the Covered Transaction applies. The Investor shall have 30 days following the receipt of such notice to deliver a notice of exercise of the Contingent Purchase Right arising from the Covered Transaction, which period shall be extended for such period as is required to obtain Stockholder Approval as set forth in Section 3.1(i) (and for a period of 15 days following the date on which Stockholder Approval is obtained). Upon the expiration of such 15 or 30 day period (unless extended as provided in the foregoing sentence), the Contingent Purchase Right shall be extinguished as to the particular Covered Transaction giving rise to such right (but only as to that Covered Transaction). For the sake of clarity, a notice of exercise may be delivered after the Termination Date to the extent it relates to a Covered Transaction so long as the Investor otherwise complies with its obligations under this Section 3.1(b).