Common use of Put Provision Clause in Contracts

Put Provision. Notwithstanding any other provision contained herein to the contrary, in the event that the Warrantholder has not fully exercised the Warrant and until the Corporation has raised Two Million, Five Hundred Thousand (US$ 2,500,000) United States Dollars in a PIPE financing, the Corporation, upon ten (10) business days prior written notice (the "Notice Period") to the Warrantholder, may demand that the Warrantholder exercise its rights with regard to all Warrant Shares and the Warrantholder must exercise all its rights or unexercised rights remaining under the Warrant prior to the expiration of the Notice Period and pay the total exercise price or if such exercise is not made or if only a partial exercise is made, the Company may seek monetary damages for breach of this Section 14 or terminate this Warrant or the remaining rights hereunder. This Put Provision may be exercised by the Corporation no earlier than sixty (60) days post closing of the Merger Agreement.