Bridge Warrants. The Lender shall have received validly issued Initial Bridge Warrants, evidencing its right to acquire shares of Common Stock on the terms and conditions set forth therein.
Bridge Warrants. The Lender shall have received validly issued Subsequent Bridge Warrants evidencing its right to acquire shares of Common Stock on the terms and conditions set forth therein in substantially the applicable form of Exhibit E, in each case with such revisions as are contemplated therein made in a manner satisfactory to both the Lender and the Borrower.
Bridge Warrants. Authorized - 195,000 Outstanding - 195,000 exercisable at $3.60/share; expire 10/28/01.
Bridge Warrants. JetFax shall have received from the Bridge Holders --------------- an executed original of each Bridge Warrant marked cancelled by the holder of such Bridge Warrant.
Bridge Warrants. Bridge Warrants" shall mean the warrants issued by DocuMagix in connection with the Bridge Notes, all of which are individually identified on Part 2.3(b) of the Disclosure Schedule, each such warrant being a "Bridge Warrant."
Bridge Warrants. At the Closing the Company shall issue to each Investor that purchases the full amount of its Second Pro Rata Allocation (as defined below) (a “Super Pro Rata Investor”), a Bridge Warrant, in substantially the form attached hereto as Exhibit C (the “Bridge Warrant”).
Bridge Warrants. Upon each advance or other extension of credit made under the Bridge Loan Facility, the Company will issue warrants (the “Bridge Warrants”) to the Lender exercisable (subject to the restrictions on exercisability described below) for a number of shares of the Company’s common stock (“Common Stock”) resulting in warrant coverage equal to 100% of the outstanding amount of such advance or extension of credit. For purposes of calculating warrant coverage, the exercise price of the Bridge Warrants will initially be set at $0.425, subject to reduction to $0.17 in the event that certain government grants or tax credits cease to be available to the Company (the “Initial Exercise Price”). The Bridge Warrants will expire on the fifth anniversary of their issue date. The exercise price of the Bridge Warrants will be appropriately adjusted for stock splits, stock dividends and similar events and will be subject to full-ratchet anti-dilution protection (which would increase the number of shares issuable under the warrant). Because the anti-dilution provisions are intended to protect the Lender from dilutive issuances occurring from and after the date of the Bridge Loan Facility, the effective initial exercise price of Bridge Warrants may be less than the Initial Exercise Price and the number of shares into which the Bridge Warrants are initially exerciseable may increase. Bridge Warrants may be exercised for cash or in exchange for outstanding Bridge Warrants on a cashless basis or by offset of amounts payable under the Bridge Loan Facility. None of the Bridge Warrants will be exercisable until the earlier of (i) the time the Company’s shareholders vote on the proposed issuances of Common Stock pursuant to exercise of the Bridge Warrants and the Convertible Note Warrants and the conversion of the 8.00% Convertible Notes and (ii) the termination of the Company’s obligation to seek the approval of its shareholder. After such vote has occurred, the exercise of the Bridge Warrants will be subject to the limitations set forth below. The exercise of the Bridge Warrants in an amount greater than 9.99% of the issued and outstanding Common Stock after giving effect to such issue will be conditioned on receipt of CFIUS approval. Additionally, before the shareholder approval has been obtained, the Bridge Warrants may only be exercised to the extent such issuance would not require shareholder approval. The failure to obtain shareholder approval within 120 days after the will be an...
Bridge Warrants. The number of Bridge Warrants issuable at each Closing will be an amount equal to each Investor's Funding Amount divided by the lesser of (i) $0.20 or (ii) 75% of the average closing bid price per share of Common Stock during the ten trading days immediately preceding the applicable Closing.
Bridge Warrants. Upon the delivery of each future Draw Notice (as defined in the Debenture), excluding the Draw Notice deemed delivered on the Closing Date, the Company shall issue and deliver to Purchaser a Bridge Warrant registered in the name of such Purchaser to purchase up to a number of shares of Common Stock equal to the number of Shares issuable upon conversion of such principal amount to be incurred in connection with such Draw, in the form of Exhibit A attached hereto.
Bridge Warrants. The Company shall issue warrants equal to one share for each $1.00 of bridge notes commitments (a total of 325,000 warrant shares), such warrants exercisable for a period of 7 years at $0.80 per share. The warrants shall have full anti-dilution protection and shall be exercisable net of issuance. This term sheet is predicated on the fact that the strategic plan of the Company is to operate in an efficient "virtual company" atmosphere. Therefore, the following outlines the terms by which OMRF shall provide developmental support and PHF shall provide research and manufacturing space on a leased basis:
