Common use of Exercisability of Warrants Clause in Contracts

Exercisability of Warrants. Each Warrant may be exercised at any time on or after the date hereof, but not after 5:00 P.M., New York City time, on the fifth anniversary of the date hereof (the "Exercise Deadline"). The minimum number of shares of Common Stock with respect to which the Warrants may be exercised as to any holder shall be the lesser of (i) 25,000 and (ii) the number of shares of Common Stock issuable upon exercise of all Warrants held by such holder.