Common use of Contest and Appraisal Rights Clause in Contracts

Contest and Appraisal Rights. Upon each determination of Fair Market Value hereunder, the Company shall promptly give notice thereof to all Warrantholders, setting forth in reasonable detail the method and basis of determination of such Fair Market Value. If Holders of Warrants then exercisable into a majority in interest of the Conversion Shares concerning which the outstanding Warrants are then exercisable shall disagree with such determination and shall, by notice to the Company given within 30 days after the Company's notice of such determination, elect to dispute such determination, such dispute shall be resolved through the Appraisal Procedure.

Contest and Appraisal Rights. Upon each determination of Fair Market Value hereunderhereunder (other than a determination relating solely to setting the value of fractional shares), the Company shall promptly give notice thereof to all WarrantholdersHolders, setting forth in reasonable detail the calculation of such Fair Market Value and the method and basis of determination of such Fair Market Valuethereof, as the case may be. If the Holders of Warrants then exercisable into a majority in interest of the Conversion Shares concerning which the outstanding Warrants are then exercisable shall disagree with such determination and shall, by notice to the Company given within 30 days after the Company's notice of such determination, elect to dispute such determination, such dispute shall be resolved through the Appraisal Procedurein accordance with this Section 3.