Common use of Call Procedure Clause in Contracts

Call Procedure. To exercise the call right set forth in this Section 5, the Company shall deliver to the Holder a written notice (a “Call Notice”) indicating therein that this Warrant must be exercised by a date specified in the Call Notice, which date shall be at least fifteen (15) Business Days after the date of the Call Notice, and which date shall be extended for a Holder providing written notice of waiver of the Beneficial Ownership Limitation to the sixty-first (61st) day following the date such Holder provides such sixty-one (61) days notice or to such earlier date on which the Company has waived such sixty-one (61) day notice) (such date, the “Call Date”). If the Holder does not exercise this Warrant with respect to the Warrant Shares subject to the call as set forth in Section 5(a) and Section 5(b) by the Call Date, then on the date immediately following the Call Date this Warrant shall terminate and shall no longer be exerciseable with respect to the Warrant Shares subject to the call as set forth in Section 5(a) and Section 5(b).