Cashless Exercise Period

Cashless Exercise Period. The period beginning on the day following written notice from the Company to the Holder that it requires that the exercise of the Warrant be pursuant to a Cashless Exercise and ending on the Expiration Date, provided that in no event shall the Company be permitted to commence any such Cashless Exercise Period later than the 180th day prior to the Expiration Date and any such notice shall be irrevocable.