Common use of Restriction on Exercise Clause in Contracts

Restriction on Exercise. Notwithstanding the provisions of SECTION 2.1 to the contrary, but subject to SECTION 7.3 and the last sentence of this SECTION 2.4, by its acceptance of this Warrant the holder hereby agrees not to exercise this Warrant in whole or in part until September 8, 2001 unless the Market Price of the Common Stock is at least $4.00 per share on each of the ten (10) Trading Days immediately preceding the date that the holder delivers its notice of exercise to the Company in accordance with SECTION 2.1. Notwithstanding the foregoing sentence, this Warrant shall be exercisable in whole or in part one Business Day prior to the consummation of a Change of Control of the Company.

Appears in 8 contracts

Samples: Iwerks Entertainment Inc, Iwerks Entertainment Inc, Iwerks Entertainment Inc

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