Common use of Duration, Exercise and Redemption of Warrants Clause in Contracts

Duration, Exercise and Redemption of Warrants. Each Warrant may be exercised from the date of this Agreement until 11:59 P.M. (Pacific time) on the date which is five full years from the date of this Agreement, or until the Company calls the Warrant pursuant to Section 2.3, whichever comes first (the "Expiration Date"). Each Warrant not exercised on or before the Expiration Date shall expire. Each Warrant shall entitle its holder to purchase from the Company one share of Common Stock at an exercise price of $2.50 per share, subject to adjustment as set forth below ("Exercise Price").