Common use of Period for Exercise Clause in Contracts

Period for Exercise. WiCell shall have the right to exercise part or all of its put option under this Section 3 for: (i) a period of one (1) year beginning with the seventh (7th) anniversary of the Effective Date; or (ii) the date which is ninety (90) days prior to an initial public offering (“IPO”); or (iii) the first date any other put option is permitted to be exercised as held by a venture capital investor or founder. Said put options shall expire on the earlier of sixty (60) days prior to consummation of an IPO, or one year after the occurrence of the events specified in (i) and (iii). If at any time prior to WiCell's exercising its put option(s) rights, Company has received ten million dollars ($10,000,000) in aggregate equity funding from institutional investors, WiCell's put option rights described in this Section 3 shall terminate.

Period for Exercise. WiCell XXXX shall have the right to exercise part or all of its put option under this Section 3 for: (i) a period of one (1) year beginning with the seventh (7th) anniversary of the Effective Date; or (ii) the date which is ninety (90) days prior to an initial public offering (“IPO”); or (iii) the first date any other put option is permitted to be exercised as held by a venture capital investor or founder. Said put options shall expire on the earlier of sixty (60) days prior to consummation of an IPO, or one year after the occurrence of the events specified in (i) and (iii). If at any time prior to WiCell's XXXX’x exercising its put option(s) rights, Company has received ten million dollars ($10,000,000) in aggregate equity funding from institutional investors, WiCell's XXXX’x put option rights described in this Section 3 shall terminate.