Common use of Termination of Warrant Clause in Contracts

Termination of Warrant. Notwithstanding any provision of this Warrant to the contrary, this Warrant shall expire and no longer be exercisable upon either (a) the consummation of a Sale of the Company or (b) the consummation of a Capital Reorganization in which (i) the stockholders of the Company receive only cash consideration for each share of common stock of the Company held by such stockholder that is less (when added to any cash consideration attributable to any prior Capital Reorganization) than the Qualifying Cash Consideration, (ii) a majority of directors of the purchaser or surviving entity in such Capital Reorganization consists of persons who are not Continuing Directors, and (iii) such purchaser or surviving entity is not a member of the