Common use of Dissolution or Liquidation of the Company Clause in Contracts

Dissolution or Liquidation of the Company. In the event that the Company is dissolved, or otherwise liquidates a substantial portion (i.e. 60% or more) of its assets with the intent to make a distribution to shareholders of the proceeds therefrom (including the sale of assets of a wholly-owned subsidiary) the Holder shall be entitled, after proper exercise of the Warrants, in Whole or in part, to participate in the distribution on the same terms and conditions as are all of the other shareholders. In such event, the Company shall give 30 days written notice to the Holder. Failure of the Holder to exercise within 30 days from the date of the Company's notice, shall cause all such rights in the Warrants to terminate. The Company may finalize the intended transaction but it may not make any shareholder distribution during the 30 day notice period.

Dissolution or Liquidation of the Company. In the event that the Company is dissolved, or otherwise liquidates a substantial portion (i.e. 60% or more) of its assets with the intent to make a distribution to shareholders of the proceeds therefrom there from (including the sale of assets of a wholly-owned subsidiary) the Holder shall be entitled, after proper exercise of the Warrants, in Whole or in part, to participate in the distribution on the same terms and conditions as are all of the other shareholders. In such event, the Company shall give 30 days written notice to the Holder. Failure of the Holder to exercise within 30 days from the date of the Company's notice, notice shall cause all such rights in the Warrants to terminate. The Company may finalize the intended transaction but it may not make any shareholder distribution during the 30 30-day notice period.

Dissolution or Liquidation of the Company. In the event that the Company is dissolved, or otherwise liquidates a substantial portion (i.e. i.e., 60% or more) of its assets with the intent to make a distribution to shareholders of the proceeds therefrom (including the sale of assets of a wholly-owned subsidiary) the Holder shall be entitled, after proper exercise of the Warrants, in Whole whole or in part, to participate in the distribution on the same terms and conditions as are all of the other shareholders. In such event, the Company shall give 30 days written notice to the Holder. Failure of the Holder to exercise within 30 calendar days from the date of the Company's notice, shall cause all such rights in the Warrants to terminate. The Company may finalize the intended transaction but it may not make any shareholder distribution during the 30 day notice period.