Exercise; Expiration Date. (a) Each outstanding Warrant may be exercised on any Business Day which is on or after the Original Issuance Date and on or before the Expiration Date, but only if, (i) such exercise satisfies the FCC Ownership Conditions and (ii) in the Company’s sole and absolute discretion, which shall be final, conclusive and binding, the issuance of Common Stock pursuant to the exercise of such Warrant is exempt from the registration requirements of the Securities Act; provided, that such Holder shall have completed and duly executed the Exercise Form and the Post-Issuance Date Certification and delivered such documents to the Warrant Agent on a timely basis. In addition, exercise of the Warrants will be subject to the following restrictions: (i) Warrants may not be exercised during the Exchange Period; and (ii) during the Pre-Exchange Period, Warrants may be exercised only by U.S. Holders. Any Warrants not exercised by 5:00 p.m., New York City time, on the Expiration Date (or, if applicable, immediately prior to consummation of a Change of Control pursuant to Section 4.1(d)) shall expire and all rights thereunder and all rights in respect thereof under this Agreement shall automatically terminate at such time.
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Exercise; Expiration Date. (a) Each outstanding Warrant may be exercised on any Business Day which is on or after the Original Issuance Date and on or before the Expiration Date, but only if, (i) such exercise satisfies the FCC Ownership Conditions and (ii) in the Company’s sole and absolute discretion, which shall be final, conclusive and binding, the issuance of Common Stock pursuant to the exercise of such Warrant (i) will not cause the Company to violate the Act, FCC Rules or the FCC Restrictions and (ii) is exempt from the registration requirements of the Securities Act; provided, that such Holder shall have properly completed and duly executed the Exercise Form and the Post-Issuance Date Ownership Certification and delivered such documents to the Warrant Agent on a timely basis. In addition, exercise of the Warrants will be subject to the following restrictions: (i) Warrants may not be exercised during the Exchange Period; and (ii) during the Pre-Exchange Period, Series 1 Warrants may be exercised only by U.S. 100% Domestic Holders. Any Warrants not exercised by 5:00 p.m., New York City time, on the Expiration Date (or, if applicable, immediately prior to consummation of a Change of Control pursuant to Section 4.1(d)) shall expire and all rights thereunder and all rights in respect thereof under this Agreement shall automatically terminate at such time.
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