Termination Upon a Sale of the Company. Notwithstanding any other provision of this Section 3, upon the consummation by the Company (in one or a series of related transactions) (a “Sale Event”) of a merger, consolidation, sale or transfer of more than fifty percent (50%) of the Company’s capital stock or all or substantially all of the Company’s assets determined on a consolidated basis, this Warrant shall terminate ninety (90) days following such consummation; provided that the Company shall give prompt written notice of such Sale Event to the Holder; provided, further, that the Holder has the right to exercise this Warrant pursuant to its terms during such 90-day period.
Termination Upon a Sale of the Company. Notwithstanding anything to the contrary herein, this Agreement (excluding any then-existing obligations) shall terminate upon either (i) an acquisition of the Company by another entity by means of any transaction or series of related transactions (including, without limitation, any reorganization, merger or consolidation) that would result in the transfer of fifty-one percent (51%) or more of the outstanding voting power of the Company other than a sale of equity securities (other than in connection with a public offering of the Company) to bona fide primarily financial investors with a primary purpose of raising capital or in which all the stockholders of the Company immediately prior to such transaction would own, as a result of such transaction, less than a majority of the voting securities, in the same relative proportions, of the successor or surviving corporation immediately thereafter or (ii) a sale of all or substantially all of the assets of the Company (such events described in subsections (i) and (ii) are referred to herein as a “Sale of the Company”.
Termination Upon a Sale of the Company. Notwithstanding any other provision of this Section 3, upon the consummation by the Company (in one or a series of related transactions) of a merger, consolidation, sale or transfer of more than fifty percent (50%) of the Company’s capital stock or all or substantially all of the Company’s assets determined on a consolidated basis, this Warrant shall terminate immediately upon such consummation without the opportunity for exercise.
Termination Upon a Sale of the Company. Notwithstanding any other provision of this Section 3, upon the consummation of a Sale of the Company (as defined in the Note) prior to, but not in connection with, a Qualified Financing or Reverse Merger, this Warrant shall terminate immediately upon such consummation without the opportunity for exercise. “Sale of the Company” shall mean a transaction (or series of related transactions) with one or more non-affiliates, pursuant to which such party or parties acquire (x) capital stock of the Company or the surviving entity possessing the voting power to elect a majority of the Board of Directors of the Company or the surviving entity (whether by merger, consolidation, sale or transfer of the Company’s capital stock or otherwise); or (y) all or substantially all of the Company’s assets determined on a consolidated basis.
