{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "time-of-exercise", "type": "definition", "offset": [10, 26]}, {"key": "effective-registration-statement", "type": "clause", "offset": [46, 78]}, {"key": "the-prospectus", "type": "definition", "offset": [95, 109]}, {"key": "not-available", "type": "definition", "offset": [131, 144]}, {"key": "issuance-of-the-warrant-shares", "type": "clause", "offset": [153, 183]}, {"key": "to-receive", "type": "definition", "offset": [346, 356]}, {"key": "number-of-warrant-shares", "type": "definition", "offset": [359, 383]}, {"key": "equal-to", "type": "definition", "offset": [384, 392]}, {"key": "trading-day", "type": "definition", "offset": [495, 506]}, {"key": "date-of", "type": "clause", "offset": [533, 540]}, {"key": "notice-of-exercise", "type": "clause", "offset": [556, 574]}, {"key": "executed-and-delivered", "type": "clause", "offset": [614, 636]}, {"key": "pursuant-to-section", "type": "definition", "offset": [637, 656]}, {"key": "a-day", "type": "definition", "offset": [672, 677]}, {"key": "prior-to-the", "type": "clause", "offset": [788, 800]}, {"key": "regular-trading-hours", "type": "definition", "offset": [813, 834]}, {"key": "federal-securities-laws", "type": "clause", "offset": [907, 930]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [958, 985]}, {"key": "stock-on", "type": "definition", "offset": [1129, 1137]}, {"key": "principal-trading-market", "type": "definition", "offset": [1142, 1166]}, {"key": "time-of-the", "type": "clause", "offset": [1207, 1218]}, {"key": "the-exercise-price", "type": "definition", "offset": [1819, 1837]}, {"key": "as-adjusted", "type": "definition", "offset": [1855, 1866]}, {"key": "exercise-of-this-warrant", "type": "clause", "offset": [1945, 1969]}, {"key": "in-accordance-with", "type": "definition", "offset": [1970, 1988]}, {"key": "terms-of-this-warrant", "type": "clause", "offset": [1993, 2014]}, {"key": "cash-exercise", "type": "definition", "offset": [2051, 2064]}, {"key": "issued-in", "type": "definition", "offset": [2120, 2129]}, {"key": "the-parties-acknowledge-and-agree-that", "type": "clause", "offset": [2156, 2194]}, {"key": "the-securities-act", "type": "clause", "offset": [2233, 2251]}, {"key": "the-warrants", "type": "clause", "offset": [2320, 2332]}, {"key": "the-company-agrees", "type": "clause", "offset": [2350, 2368]}, {"key": "contrary-to", "type": "definition", "offset": [2394, 2405]}], "snippet": "If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a \u201ccashless exercise\u201d in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:\n(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of \u201cregular trading hours\u201d (as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder\u2019s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during \u201cregular trading hours\u201d on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of \u201cregular trading hours\u201d on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of \u201cregular trading hours\u201d on such Trading Day;\n(B) = the Exercise Price of this Warrant, as adjusted hereunder; and\n(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise. If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to take any position contrary to this Section 2(c).", "samples": [{"hash": "eTL5VkfpEQb", "uri": "/contracts/eTL5VkfpEQb#cashless-exercise", "label": "Pre Funded Common Stock Purchase Warrant (Elate Group, Inc.)", "score": 34.9849433899, "published": true}, {"hash": "4m9Vl7fUWJ", "uri": "/contracts/4m9Vl7fUWJ#cashless-exercise", "label": "Placement Agent Common Stock Agreement (Amesite Inc.)", "score": 33.6652984619, "published": true}, {"hash": "fMuMHZtFZ3Y", "uri": "/contracts/fMuMHZtFZ3Y#cashless-exercise", "label": "Pre Funded Common Stock Purchase Warrant (Elate Group, Inc.)", "score": 33.4380569458, "published": true}], "size": 1288, "hash": "7a780474f4369bce33c084691129c816", "id": 1}, {"snippet_links": [{"key": "to-receive", "type": "definition", "offset": [142, 152]}, {"key": "number-of-warrant-shares", "type": "definition", "offset": [155, 179]}, {"key": "equal-to", "type": "definition", "offset": [180, 188]}, {"key": "trading-day", "type": "definition", "offset": [291, 302]}, {"key": "date-of", "type": "clause", "offset": [329, 336]}, {"key": "notice-of-exercise", "type": "clause", "offset": [352, 370]}, {"key": "executed-and-delivered", "type": "clause", "offset": [410, 432]}, {"key": "pursuant-to-section", "type": "definition", "offset": [433, 452]}, {"key": "a-day", "type": "definition", "offset": [468, 473]}, {"key": "prior-to-the", "type": "clause", "offset": [584, 596]}, {"key": "regular-trading-hours", "type": "definition", "offset": [609, 630]}, {"key": "federal-securities-laws", "type": "clause", "offset": [699, 722]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [750, 777]}, {"key": "stock-on", "type": "definition", "offset": [921, 929]}, {"key": "principal-trading-market", "type": "definition", "offset": [934, 958]}, {"key": "time-of-the", "type": "clause", "offset": [1013, 1024]}, {"key": "the-exercise-price", "type": "definition", "offset": [1625, 1643]}, {"key": "as-adjusted", "type": "definition", "offset": [1661, 1672]}, {"key": "exercise-of-this-warrant", "type": "clause", "offset": [1751, 1775]}, {"key": "in-accordance-with", "type": "definition", "offset": [1776, 1794]}, {"key": "terms-of-this-warrant", "type": "clause", "offset": [1799, 1820]}, {"key": "cash-exercise", "type": "definition", "offset": [1857, 1870]}, {"key": "issued-in", "type": "definition", "offset": [1926, 1935]}, {"key": "the-parties-acknowledge-and-agree-that", "type": "clause", "offset": [1962, 2000]}, {"key": "the-securities-act", "type": "clause", "offset": [2039, 2057]}, {"key": "the-warrant-shares", "type": "clause", "offset": [2059, 2077]}, {"key": "the-warrants", "type": "clause", "offset": [2126, 2138]}, {"key": "the-company-agrees", "type": "clause", "offset": [2156, 2174]}, {"key": "contrary-to", "type": "definition", "offset": [2200, 2211]}], "snippet": "This Warrant may also be exercised, in whole or in part, at such time by means of a \u201ccashless exercise\u201d in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:\n(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of \u201cregular trading hours\u201d (as defined in Rule 600(b) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. (\u201cBloomberg\u201d) as of the time of the Holder\u2019s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during \u201cregular trading hours\u201d on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of \u201cregular trading hours\u201d on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of \u201cregular trading hours\u201d on such Trading Day;\n(B) = the Exercise Price of this Warrant, as adjusted hereunder; and\n(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise. If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to take any position contrary to this Section 2(c).", "samples": [{"hash": "lzO1lyZc8sa", "uri": "/contracts/lzO1lyZc8sa#cashless-exercise", "label": "Pre Funded Common Stock Purchase Warrant (Nanoviricides, Inc.)", "score": 37.3805618286, "published": true}, {"hash": "7N99r5rqef0", "uri": "/contracts/7N99r5rqef0#cashless-exercise", "label": "Pre Funded Common Stock Purchase Warrant (Actelis Networks Inc)", "score": 36.9644088745, "published": true}, {"hash": "c5diSqcuX2d", "uri": "/contracts/c5diSqcuX2d#cashless-exercise", "label": "Pre Funded Common Stock Purchase Warrant (Actelis Networks Inc)", "score": 36.9452438354, "published": true}], "size": 861, "hash": "c8e20c0b92b7357edc8ec1b828b70184", "id": 2}, {"snippet_links": [{"key": "contained-in", "type": "definition", "offset": [41, 53]}, {"key": "this-warrant", "type": "clause", "offset": [54, 66]}, {"key": "the-warrant-shares", "type": "clause", "offset": [85, 103]}, {"key": "by-the-holder", "type": "clause", "offset": [104, 117]}, {"key": "pursuant-to", "type": "definition", "offset": [141, 152]}, {"key": "statement-under", "type": "clause", "offset": [179, 194]}, {"key": "the-securities-act", "type": "clause", "offset": [195, 213]}, {"key": "presentation-and-surrender", "type": "clause", "offset": [248, 274]}, {"key": "to-the-company", "type": "clause", "offset": [291, 305]}, {"key": "principal-executive-offices", "type": "definition", "offset": [313, 340]}, {"key": "notice-of-the", "type": "clause", "offset": [356, 369]}, {"key": "calculation-of-the", "type": "clause", "offset": [432, 450]}, {"key": "common-stock-to-be-issued", "type": "clause", "offset": [471, 496]}, {"key": "in-accordance-with", "type": "definition", "offset": [516, 534]}, {"key": "the-terms", "type": "definition", "offset": [535, 544]}, {"key": "in-the-event-of-a", "type": "clause", "offset": [577, 594]}, {"key": "in-lieu-of", "type": "clause", "offset": [614, 624]}, {"key": "the-exercise-price", "type": "definition", "offset": [632, 650]}, {"key": "number-of-warrant-shares", "type": "definition", "offset": [772, 796]}, {"key": "current-market-price-per-share", "type": "definition", "offset": [916, 946]}, {"key": "the-common-stock", "type": "clause", "offset": [950, 966]}, {"key": "for-example", "type": "clause", "offset": [1086, 1097]}, {"key": "warrant-exercise-price", "type": "clause", "offset": [1155, 1177]}], "snippet": "Notwithstanding anything to the contrary contained in this Warrant, if the resale of the Warrant Shares by the holder is not then registered pursuant to an effective registration statement under the Securities Act, this Warrant may be exercised by presentation and surrender of this Warrant to the Company at its principal executive offices with a written notice of the holder's intention to effect a cashless exercise, including a calculation of the number of shares of Common Stock to be issued upon such exercise in accordance with the terms hereof (a \"Cashless Exercise\"). In the event of a Cashless Exercise, in lieu of paying the Exercise Price in cash, the holder shall surrender this Warrant for that number of shares of Common Stock determined by multiplying the number of Warrant Shares to which it would otherwise be entitled by a fraction, the numerator of which shall be the difference between the then current Market Price per share of the Common Stock and the Exercise Price, and the denominator of which shall be the then current Market Price per share of Common Stock. For example, if the holder is exercising 100,000 Warrants with a per Warrant exercise price of $0.75 per share through a cashless exercise when the Common Stock's current Market Price per share is $2.00 per share, then upon such Cashless Exercise the holder will receive 62,500 shares of Common Stock.", "samples": [{"hash": "e2ZxzYFLvAU", "uri": "/contracts/e2ZxzYFLvAU#cashless-exercise", "label": "Stock Purchase Agreement (Crystal International Travel Group, Inc.)", "score": 19.0, "published": true}, {"hash": "bhYZpuekUS7", "uri": "/contracts/bhYZpuekUS7#cashless-exercise", "label": "Warrant Agreement (Idial Networks Inc)", "score": 19.0, "published": true}, {"hash": "bVoqN6LpXou", "uri": "/contracts/bVoqN6LpXou#cashless-exercise", "label": "Warrant Agreement (Seaview Video Technology Inc)", "score": 19.0, "published": true}], "size": 850, "hash": "c05b76495f76267e9e4b4130beb960f3", "id": 3}, {"snippet_links": [{"key": "exercise-of-this-warrant", "type": "clause", "offset": [7, 31]}, {"key": "payment-of-the", "type": "clause", "offset": [44, 58]}, {"key": "aggregate-warrant-price", "type": "definition", "offset": [59, 82]}, {"key": "as-specified", "type": "clause", "offset": [97, 109]}, {"key": "in-accordance-with", "type": "definition", "offset": [146, 164]}, {"key": "the-requirements", "type": "clause", "offset": [165, 181]}, {"key": "to-receive-shares", "type": "clause", "offset": [215, 232]}, {"key": "equal-to", "type": "definition", "offset": [233, 241]}, {"key": "the-value", "type": "clause", "offset": [242, 251]}, {"key": "the-company-shall", "type": "clause", "offset": [343, 360]}, {"key": "issue-to", "type": "definition", "offset": [361, 369]}, {"key": "the-holder", "type": "clause", "offset": [370, 380]}, {"key": "number-of", "type": "definition", "offset": [386, 395]}, {"key": "fully-paid", "type": "clause", "offset": [396, 406]}, {"key": "are-computed", "type": "clause", "offset": [436, 448]}], "snippet": "On any exercise of this Warrant, in lieu of payment of the aggregate Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Shares equal to the value of this Warrant, or portion hereof as to which this Warrant is being exercised. Thereupon, the Company shall issue to the Holder such number of fully paid and non-assessable Shares as are computed using the following formula: X = Y(A-B)/A where:", "samples": [{"hash": "TUWFjdc021", "uri": "/contracts/TUWFjdc021#cashless-exercise", "label": "Pre Funded Warrant Agreement (Verastem, Inc.)", "score": 36.8767967224, "published": true}, {"hash": "7mMMdCMuecO", "uri": "/contracts/7mMMdCMuecO#cashless-exercise", "label": "Warrant Agreement (Xanadu Quantum Technologies Inc.)", "score": 36.1451072693, "published": true}, {"hash": "4f191nLTICO", "uri": "/contracts/4f191nLTICO#cashless-exercise", "label": "Warrant Agreement (Xanadu Quantum Technologies Inc.)", "score": 36.1451072693, "published": true}], "size": 616, "hash": "c2f2d7fdfda1a213986903228efc2e3a", "id": 7}, {"snippet_links": [{"key": "at-any-time", "type": "clause", "offset": [3, 14]}, {"key": "the-closing-date", "type": "clause", "offset": [50, 66]}, {"key": "effective-registration-statement", "type": "clause", "offset": [80, 112]}, {"key": "current-prospectus", "type": "definition", "offset": [132, 150]}, {"key": "the-warrant-shares", "type": "clause", "offset": [180, 198]}, {"key": "by-the-holder", "type": "clause", "offset": [199, 212]}, {"key": "to-receive", "type": "definition", "offset": [361, 371]}, {"key": "number-of-warrant-shares", "type": "definition", "offset": [374, 398]}, {"key": "equal-to", "type": "definition", "offset": [399, 407]}, {"key": "notice-of-exercise", "type": "clause", "offset": [539, 557]}, {"key": "the-applicable", "type": "clause", "offset": [573, 587]}, {"key": "applicable-notice", "type": "clause", "offset": [629, 646]}, {"key": "trading-day", "type": "definition", "offset": [739, 750]}, {"key": "in-the-event", "type": "clause", "offset": [762, 774]}, {"key": "the-trading-market", "type": "definition", "offset": [821, 839]}, {"key": "the-exercise-price", "type": "definition", "offset": [920, 938]}, {"key": "as-adjusted", "type": "definition", "offset": [956, 967]}, {"key": "exercise-of-this-warrant", "type": "clause", "offset": [1046, 1070]}, {"key": "in-accordance-with", "type": "definition", "offset": [1071, 1089]}, {"key": "terms-of-this-warrant", "type": "clause", "offset": [1094, 1115]}, {"key": "cash-exercise", "type": "definition", "offset": [1152, 1165]}, {"key": "issued-in", "type": "definition", "offset": [1221, 1230]}, {"key": "the-parties-acknowledge-and-agree-that", "type": "clause", "offset": [1257, 1295]}, {"key": "the-securities-act", "type": "clause", "offset": [1334, 1352]}, {"key": "the-warrants", "type": "clause", "offset": [1410, 1422]}, {"key": "period-of", "type": "definition", "offset": [1456, 1465]}, {"key": "the-company-agrees", "type": "clause", "offset": [1554, 1572]}, {"key": "contrary-to", "type": "definition", "offset": [1598, 1609]}], "snippet": "If at any time after the six-month anniversary of the Closing Date, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a \u201ccashless exercise\u201d in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:\n(A) = the last VWAP immediately preceding the time of delivery of the Notice of Exercise giving rise to the applicable \u201ccashless exercise\u201d, as set forth in the applicable Notice of Exercise (to clarify, the \u201clast VWAP\u201d will be the last VWAP as calculated over an entire Trading Day such that, in the event that this Warrant is exercised at a time that the Trading Market is open, the prior Trading Day\u2019s VWAP shall be used in this calculation);\n(B) = the Exercise Price of this Warrant, as adjusted hereunder; and\n(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise. If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised, and the holding period of the Warrant Shares being issued may be tacked on to the holding period of this Warrant. The Company agrees not to take any position contrary to this Section 2(c).", "samples": [{"hash": "4Aus5XkCjJj", "uri": "/contracts/4Aus5XkCjJj#cashless-exercise", "label": "Security Agreement (Creek Road Miners, Inc.)", "score": 30.767282486, "published": true}, {"hash": "bDnxbd8ZlUU", "uri": "/contracts/bDnxbd8ZlUU#cashless-exercise", "label": "Securities Agreement (Creek Road Miners, Inc.)", "score": 30.6632442474, "published": true}, {"hash": "1bPa1YCRzPO", "uri": "/contracts/1bPa1YCRzPO#cashless-exercise", "label": "Securities Agreement (Wizard Entertainment, Inc.)", "score": 28.9739894867, "published": true}], "size": 785, "hash": "231fe5fce2120f477a90752bdd2503b6", "id": 4}, {"snippet_links": [{"key": "time-of-exercise", "type": "definition", "offset": [10, 26]}, {"key": "effective-registration-statement", "type": "clause", "offset": [46, 78]}, {"key": "the-prospectus", "type": "definition", "offset": [95, 109]}, {"key": "not-available", "type": "definition", "offset": [131, 144]}, {"key": "issuance-of-the-warrant-shares", "type": "clause", "offset": [153, 183]}, {"key": "to-receive", "type": "definition", "offset": [346, 356]}, {"key": "number-of-warrant-shares", "type": "definition", "offset": [359, 383]}, {"key": "equal-to", "type": "definition", "offset": [384, 392]}, {"key": "trading-day", "type": "definition", "offset": [495, 506]}, {"key": "date-of", "type": "clause", "offset": [533, 540]}, {"key": "notice-of-exercise", "type": "clause", "offset": [556, 574]}, {"key": "executed-and-delivered", "type": "clause", "offset": [614, 636]}, {"key": "pursuant-to-section", "type": "definition", "offset": [637, 656]}, {"key": "a-day", "type": "definition", "offset": [672, 677]}, {"key": "prior-to-the", "type": "clause", "offset": [788, 800]}, {"key": "regular-trading-hours", "type": "definition", "offset": [813, 834]}, {"key": "federal-securities-laws", "type": "clause", "offset": [903, 926]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [954, 981]}, {"key": "stock-on", "type": "definition", "offset": [1125, 1133]}, {"key": "principal-trading-market", "type": "definition", "offset": [1138, 1162]}, {"key": "time-of-the", "type": "clause", "offset": [1217, 1228]}, {"key": "the-exercise-price", "type": "definition", "offset": [1829, 1847]}, {"key": "as-adjusted", "type": "definition", "offset": [1865, 1876]}, {"key": "exercise-of-this-warrant", "type": "clause", "offset": [1955, 1979]}, {"key": "in-accordance-with", "type": "definition", "offset": [1980, 1998]}, {"key": "terms-of-this-warrant", "type": "clause", "offset": [2003, 2024]}, {"key": "cash-exercise", "type": "definition", "offset": [2061, 2074]}, {"key": "issued-in", "type": "definition", "offset": [2130, 2139]}, {"key": "the-parties-acknowledge-and-agree-that", "type": "clause", "offset": [2166, 2204]}, {"key": "the-securities-act", "type": "clause", "offset": [2243, 2261]}, {"key": "the-warrants", "type": "clause", "offset": [2330, 2342]}, {"key": "the-company-agrees", "type": "clause", "offset": [2360, 2378]}, {"key": "contrary-to", "type": "definition", "offset": [2404, 2415]}], "snippet": "If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a \u201ccashless exercise\u201d in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:\n(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of \u201cregular trading hours\u201d (as defined in Rule 600(b) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. (\u201cBloomberg\u201d) as of the time of the Holder\u2019s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during \u201cregular trading hours\u201d on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of \u201cregular trading hours\u201d on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of \u201cregular trading hours\u201d on such Trading Day;\n(B) = the Exercise Price of this Warrant, as adjusted hereunder; and\n(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise. If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to take any position contrary to this Section 2(c).", "samples": [{"hash": "lTwx54BN9SH", "uri": "/contracts/lTwx54BN9SH#cashless-exercise", "label": "Series G Common Stock Purchase Warrant (Reviva Pharmaceuticals Holdings, Inc.)", "score": 37.2108154297, "published": true}, {"hash": "2blIPbBcmVg", "uri": "/contracts/2blIPbBcmVg#cashless-exercise", "label": "Series H Common Stock Purchase Warrant (Reviva Pharmaceuticals Holdings, Inc.)", "score": 37.2108154297, "published": true}, {"hash": "7goioaXsKIK", "uri": "/contracts/7goioaXsKIK#cashless-exercise", "label": "Security Agreement (Firefly Neuroscience, Inc.)", "score": 37.1916503906, "published": true}], "size": 746, "hash": "be285a5e2fdfa5fe84ecab7c4603790d", "id": 5}, {"snippet_links": [{"key": "time-of-exercise", "type": "definition", "offset": [10, 26]}, {"key": "effective-registration-statement", "type": "clause", "offset": [46, 78]}, {"key": "the-prospectus", "type": "definition", "offset": [95, 109]}, {"key": "not-available", "type": "definition", "offset": [131, 144]}, {"key": "the-warrant-shares", "type": "clause", "offset": [163, 181]}, {"key": "by-the-holder", "type": "clause", "offset": [182, 195]}, {"key": "to-receive", "type": "definition", "offset": [344, 354]}, {"key": "number-of-warrant-shares", "type": "definition", "offset": [357, 381]}, {"key": "equal-to", "type": "definition", "offset": [382, 390]}, {"key": "trading-day", "type": "definition", "offset": [493, 504]}, {"key": "date-of", "type": "clause", "offset": [531, 538]}, {"key": "notice-of-exercise", "type": "clause", "offset": [554, 572]}, {"key": "executed-and-delivered", "type": "clause", "offset": [612, 634]}, {"key": "pursuant-to-section", "type": "definition", "offset": [635, 654]}, {"key": "a-day", "type": "definition", "offset": [670, 675]}, {"key": "prior-to-the", "type": "clause", "offset": [786, 798]}, {"key": "regular-trading-hours", "type": "definition", "offset": [811, 832]}, {"key": "federal-securities-laws", "type": "clause", "offset": [901, 924]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [952, 979]}, {"key": "stock-on", "type": "definition", "offset": [1123, 1131]}, {"key": "principal-trading-market", "type": "definition", "offset": [1136, 1160]}, {"key": "time-of-the", "type": "clause", "offset": [1215, 1226]}, {"key": "the-exercise-price", "type": "definition", "offset": [1827, 1845]}, {"key": "as-adjusted", "type": "definition", "offset": [1863, 1874]}, {"key": "exercise-of-this-warrant", "type": "clause", "offset": [1953, 1977]}, {"key": "in-accordance-with", "type": "definition", "offset": [1978, 1996]}, {"key": "terms-of-this-warrant", "type": "clause", "offset": [2001, 2022]}, {"key": "cash-exercise", "type": "definition", "offset": [2059, 2072]}], "snippet": "If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained therein is not available for the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a \u201ccashless exercise\u201d in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:\n(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of \u201cregular trading hours\u201d (as defined in Rule 600(b) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. (\u201cBloomberg\u201d) as of the time of the Holder\u2019s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during \u201cregular trading hours\u201d on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of \u201cregular trading hours\u201d on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of \u201cregular trading hours\u201d on such Trading Day;\n(B) = the Exercise Price of this Warrant, as adjusted hereunder; and\n(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.", "samples": [{"hash": "butWnDzGrO", "uri": "/contracts/butWnDzGrO#cashless-exercise", "label": "Placement Agent Common Stock Purchase Warrant (Momentus Inc.)", "score": 37.2874755859, "published": true}, {"hash": "bBSH1RFJRc1", "uri": "/contracts/bBSH1RFJRc1#cashless-exercise", "label": "Security Agreement (Tempest Therapeutics, Inc.)", "score": 37.2217674255, "published": true}, {"hash": "5xwSPjAUzfO", "uri": "/contracts/5xwSPjAUzfO#cashless-exercise", "label": "Placement Agent Agreement (Longeveron Inc.)", "score": 37.1916503906, "published": true}], "size": 598, "hash": "ee7e85d8ab61340a20a3b0a984800cc8", "id": 9}, {"snippet_links": [{"key": "time-of-exercise", "type": "definition", "offset": [10, 26]}, {"key": "effective-registration-statement", "type": "clause", "offset": [46, 78]}, {"key": "the-warrant-shares", "type": "clause", "offset": [91, 109]}, {"key": "the-prospectus", "type": "definition", "offset": [114, 128]}, {"key": "not-available", "type": "definition", "offset": [150, 163]}, {"key": "the-issuance", "type": "clause", "offset": [168, 180]}, {"key": "by-the-holder", "type": "clause", "offset": [219, 232]}, {"key": "to-receive", "type": "definition", "offset": [381, 391]}, {"key": "number-of-warrant-shares", "type": "definition", "offset": [394, 418]}, {"key": "equal-to", "type": "definition", "offset": [419, 427]}, {"key": "trading-day", "type": "definition", "offset": [530, 541]}, {"key": "date-of", "type": "clause", "offset": [568, 575]}, {"key": "notice-of-exercise", "type": "clause", "offset": [591, 609]}, {"key": "executed-and-delivered", "type": "clause", "offset": [649, 671]}, {"key": "pursuant-to-section", "type": "definition", "offset": [672, 691]}, {"key": "a-day", "type": "definition", "offset": [707, 712]}, {"key": "prior-to-the", "type": "clause", "offset": [823, 835]}, {"key": "regular-trading-hours", "type": "definition", "offset": [848, 869]}, {"key": "federal-securities-laws", "type": "clause", "offset": [942, 965]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [993, 1020]}, {"key": "stock-on", "type": "definition", "offset": [1164, 1172]}, {"key": "principal-trading-market", "type": "definition", "offset": [1177, 1201]}, {"key": "time-of-the", "type": "clause", "offset": [1242, 1253]}, {"key": "the-exercise-price", "type": "definition", "offset": [1854, 1872]}, {"key": "as-adjusted", "type": "definition", "offset": [1890, 1901]}, {"key": "exercise-of-this-warrant", "type": "clause", "offset": [1980, 2004]}, {"key": "in-accordance-with", "type": "definition", "offset": [2005, 2023]}, {"key": "terms-of-this-warrant", "type": "clause", "offset": [2028, 2049]}, {"key": "cash-exercise", "type": "definition", "offset": [2086, 2099]}, {"key": "issued-in", "type": "definition", "offset": [2155, 2164]}, {"key": "the-parties-acknowledge-and-agree-that", "type": "clause", "offset": [2191, 2229]}, {"key": "the-securities-act", "type": "clause", "offset": [2268, 2286]}, {"key": "the-warrants", "type": "clause", "offset": [2344, 2356]}, {"key": "period-of", "type": "definition", "offset": [2390, 2399]}, {"key": "the-company-agrees", "type": "clause", "offset": [2488, 2506]}, {"key": "contrary-to", "type": "definition", "offset": [2532, 2543]}], "snippet": "If at the time of exercise hereof there is no effective registration statement registering the Warrant Shares, or the prospectus contained therein is not available for the issuance or resale of the Warrant Shares to or by the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a \u201ccashless exercise\u201d in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:\n(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of \u201cregular trading hours\u201d (as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder\u2019s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during \u201cregular trading hours\u201d on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of \u201cregular trading hours\u201d on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of \u201cregular trading hours\u201d on such Trading Day;\n(B) = the Exercise Price of this Warrant, as adjusted hereunder; and\n(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise. If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised, and the holding period of the Warrant Shares being issued may be tacked on to the holding period of this Warrant. The Company agrees not to take any position contrary to this Section 2(c).", "samples": [{"hash": "i9VundJZweL", "uri": "/contracts/i9VundJZweL#cashless-exercise", "label": "Common Stock Purchase Agreement (Citius Pharmaceuticals, Inc.)", "score": 30.2511978149, "published": true}, {"hash": "6Jc21UHwjrZ", "uri": "/contracts/6Jc21UHwjrZ#cashless-exercise", "label": "Common Stock Purchase Warrant (Citius Pharmaceuticals, Inc.)", "score": 30.2511978149, "published": true}, {"hash": "eFBc9oone7q", "uri": "/contracts/eFBc9oone7q#cashless-exercise", "label": "Common Stock Purchase Warrant (Citius Pharmaceuticals, Inc.)", "score": 29.238193512, "published": true}], "size": 547, "hash": "be35b602f80834b6569f886be6a07463", "id": 10}, {"snippet_links": [{"key": "a-registration-statement", "type": "definition", "offset": [7, 31]}, {"key": "the-registration-statement", "type": "clause", "offset": [199, 225]}, {"key": "cash-only", "type": "definition", "offset": [283, 292]}, {"key": "terms-of-the-subscription-agreement", "type": "clause", "offset": [466, 501]}, {"key": "payment-upon-exercise", "type": "clause", "offset": [508, 529]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [542, 569]}, {"key": "wire-transfer", "type": "clause", "offset": [590, 603]}, {"key": "payable-to", "type": "definition", "offset": [643, 653]}, {"key": "order-of-the-company", "type": "definition", "offset": [658, 678]}, {"key": "equal-to", "type": "definition", "offset": [679, 687]}, {"key": "the-applicable", "type": "clause", "offset": [688, 702]}, {"key": "aggregate-purchase-price", "type": "clause", "offset": [703, 727]}, {"key": "exercise-of-the-warrants", "type": "clause", "offset": [776, 800]}, {"key": "in-accordance-with", "type": "definition", "offset": [801, 819]}, {"key": "the-foregoing", "type": "definition", "offset": [874, 887]}, {"key": "number-of-common", "type": "clause", "offset": [905, 921]}, {"key": "exercise-number", "type": "definition", "offset": [960, 975]}, {"key": "total-number-of-shares-of-common-stock", "type": "clause", "offset": [1027, 1065]}, {"key": "terms-of-this-warrant", "type": "clause", "offset": [1097, 1118]}, {"key": "duly-authorized", "type": "clause", "offset": [1188, 1203]}, {"key": "validly-issued", "type": "clause", "offset": [1205, 1219]}, {"key": "other-securities", "type": "clause", "offset": [1278, 1294]}, {"key": "the-fair-market-value", "type": "clause", "offset": [1334, 1355]}, {"key": "one-share", "type": "definition", "offset": [1359, 1368]}, {"key": "the-purchase-price", "type": "clause", "offset": [1401, 1419]}, {"key": "date-of-calculation", "type": "definition", "offset": [1428, 1447]}, {"key": "in-lieu-of", "type": "clause", "offset": [1469, 1479]}, {"key": "to-receive-shares", "type": "clause", "offset": [1535, 1552]}, {"key": "the-value", "type": "clause", "offset": [1562, 1571]}, {"key": "principal-office-of-the-company", "type": "definition", "offset": [1687, 1718]}, {"key": "subscription-form", "type": "definition", "offset": [1755, 1772]}, {"key": "the-company-shall", "type": "clause", "offset": [1788, 1805]}, {"key": "issue-to", "type": "definition", "offset": [1806, 1814]}, {"key": "a-number", "type": "definition", "offset": [1826, 1834]}, {"key": "issued-to", "type": "definition", "offset": [1971, 1980]}, {"key": "number-of-shares-of-common-stock-purchasable", "type": "clause", "offset": [1999, 2043]}, {"key": "a-portion", "type": "definition", "offset": [2074, 2083]}, {"key": "as-adjusted", "type": "definition", "offset": [2317, 2328]}, {"key": "a-non", "type": "clause", "offset": [2477, 2482]}, {"key": "registration-event", "type": "definition", "offset": [2483, 2501]}, {"key": "in-section-11", "type": "clause", "offset": [2515, 2528]}, {"key": "for-purposes-of", "type": "clause", "offset": [2560, 2575]}, {"key": "rule-144", "type": "clause", "offset": [2576, 2584]}, {"key": "the-1933-act", "type": "clause", "offset": [2603, 2615]}, {"key": "issued-in", "type": "definition", "offset": [2685, 2694]}, {"key": "by-the-holder", "type": "clause", "offset": [2765, 2778]}, {"key": "holding-period", "type": "definition", "offset": [2788, 2802]}, {"key": "originally-issued", "type": "definition", "offset": [2890, 2907]}], "snippet": "(a) If a Registration Statement (as defined in the Subscription Agreement) (\"Registration Statement\") is effective and the Holder may sell its shares of Common Stock upon exercise hereof pursuant to the Registration Statement, this Warrant may be exercisable in whole or in part for cash only as set forth in Section 1 above. If no such Registration Statement is available during the time that such Registration Statement is required to be effective pursuant to the terms of the Subscription Agreement, then payment upon exercise may be made at the option of the Holder either in (i) cash, wire transfer or by certified or official bank check payable to the order of the Company equal to the applicable aggregate Purchase Price, (ii) by delivery of Common Stock issuable upon exercise of the Warrants in accordance with Section (b) below or (iii) by a combination of any of the foregoing methods, for the number of Common Stock specified in such form (as such exercise number shall be adjusted to reflect any adjustment in the total number of shares of Common Stock issuable to the holder per the terms of this Warrant) and the holder shall thereupon be entitled to receive the number of duly authorized, validly issued, fully-paid and non-assessable shares of Common Stock (or Other Securities) determined as provided herein.\n(b) If the Fair Market Value of one share of Common Stock is greater than the Purchase Price (at the date of calculation as set forth below), in lieu of exercising this Warrant for cash, the holder may elect to receive shares equal to the value (as determined below) of this Warrant (or the portion thereof being cancelled) by surrender of this Warrant at the principal office of the Company together with the properly endorsed Subscription Form in which event the Company shall issue to the holder a number of shares of Common Stock computed using the following formula: X=Y (A-B) ------- A Where X= the number of shares of Common Stock to be issued to the holder Y= the number of shares of Common Stock purchasable under the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being exercised (at the date of such calculation) A= the Fair Market Value of one share of the Company's Common Stock (at the date of such calculation) B= Purchase Price (as adjusted to the date of such calculation)\n(c) The Holder may employ the cashless exercise feature described in Section (b) above only during the pendency of a Non-Registration Event as described in Section 11 of the Subscription Agreement. For purposes of Rule 144 promulgated under the 1933 Act, it is intended, understood and acknowledged that the Warrant Shares issued in a cashless exercise transaction shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was originally issued pursuant to the Subscription Agreement.", "samples": [{"hash": "kgjiz1uvklK", "uri": "/contracts/kgjiz1uvklK#cashless-exercise", "label": "Warrant Agreement (Globetel Communications Corp)", "score": 18.0, "published": true}, {"hash": "hHRSXfQy4NV", "uri": "/contracts/hHRSXfQy4NV#cashless-exercise", "label": "Warrant Agreement (Globetel Communications Corp)", "score": 18.0, "published": true}, {"hash": "4jjeJ2uBJ7z", "uri": "/contracts/4jjeJ2uBJ7z#cashless-exercise", "label": "Warrant Agreement (Globetel Communications Corp)", "score": 18.0, "published": true}], "size": 686, "hash": "e7b9f8de70e1791ea7ae9dbc1af6aeac", "id": 6}, {"snippet_links": [{"key": "time-of-exercise", "type": "definition", "offset": [10, 26]}, {"key": "effective-registration-statement", "type": "clause", "offset": [46, 78]}, {"key": "the-prospectus", "type": "definition", "offset": [95, 109]}, {"key": "not-available", "type": "definition", "offset": [131, 144]}, {"key": "the-issuance", "type": "clause", "offset": [149, 161]}, {"key": "the-warrant-shares", "type": "clause", "offset": [175, 193]}, {"key": "by-the-holder", "type": "clause", "offset": [200, 213]}, {"key": "to-receive", "type": "definition", "offset": [362, 372]}, {"key": "number-of-warrant-shares", "type": "definition", "offset": [375, 399]}, {"key": "equal-to", "type": "definition", "offset": [400, 408]}, {"key": "trading-day", "type": "definition", "offset": [511, 522]}, {"key": "date-of", "type": "clause", "offset": [549, 556]}, {"key": "notice-of-exercise", "type": "clause", "offset": [572, 590]}, {"key": "executed-and-delivered", "type": "clause", "offset": [630, 652]}, {"key": "pursuant-to-section", "type": "definition", "offset": [653, 672]}, {"key": "a-day", "type": "definition", "offset": [688, 693]}, {"key": "prior-to-the", "type": "clause", "offset": [804, 816]}, {"key": "regular-trading-hours", "type": "definition", "offset": [829, 850]}, {"key": "federal-securities-laws", "type": "clause", "offset": [923, 946]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [974, 1001]}, {"key": "stock-on", "type": "definition", "offset": [1145, 1153]}, {"key": "principal-trading-market", "type": "definition", "offset": [1158, 1182]}, {"key": "time-of-the", "type": "clause", "offset": [1223, 1234]}, {"key": "the-exercise-price", "type": "definition", "offset": [1835, 1853]}, {"key": "as-adjusted", "type": "definition", "offset": [1871, 1882]}, {"key": "exercise-of-this-warrant", "type": "clause", "offset": [1961, 1985]}, {"key": "in-accordance-with", "type": "definition", "offset": [1986, 2004]}, {"key": "terms-of-this-warrant", "type": "clause", "offset": [2009, 2030]}, {"key": "cash-exercise", "type": "definition", "offset": [2067, 2080]}], "snippet": "If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance or resale of the Warrant Shares to or by the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a \u201ccashless exercise\u201d in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:\n(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of \u201cregular trading hours\u201d (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder\u2019s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during \u201cregular trading hours\u201d on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of \u201cregular trading hours\u201d on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of \u201cregular trading hours\u201d on such Trading Day;\n(B) = the Exercise Price of this Warrant, as adjusted hereunder; and\n(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.", "samples": [{"hash": "2aoefXvzsEE", "uri": "/contracts/2aoefXvzsEE#cashless-exercise", "label": "Security Agreement (Wellgistics Health, Inc.)", "score": 37.0520210266, "published": true}, {"hash": "70IK9DSacKc", "uri": "/contracts/70IK9DSacKc#cashless-exercise", "label": "Security Agreement (Wellgistics Health, Inc.)", "score": 37.0191650391, "published": true}, {"hash": "lfr11EMschI", "uri": "/contracts/lfr11EMschI#cashless-exercise", "label": "Security Agreement (Glucotrack, Inc.)", "score": 36.9972610474, "published": true}], "size": 603, "hash": "7d8a8ed77ff11b28c7bab71cf0bfffb0", "id": 8}], "next_curs": "CloSVGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjYLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhpjYXNobGVzcy1leGVyY2lzZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"parents": [["exercise", "Exercise"], ["miscellaneous", "Miscellaneous"], ["exercise-of-warrant", "Exercise of Warrant"], ["payment-of-exercise-price", "Payment of Exercise Price"], ["waiver-etc", "Waiver, etc"]], "title": "Cashless Exercise", "children": [["determination-of-amount", "Determination of Amount"], ["mechanics-of-cashless-exercise", "Mechanics of Cashless Exercise"], ["", ""], ["closing-of-books", "Closing of Books"], ["delivery-of-new-warrants-upon-exercise", "Delivery of New Warrants Upon Exercise"]], "size": 22174, "id": "cashless-exercise", "related": [["cashless-exercise-at-companys-option", "Cashless Exercise at Company\u2019s Option", "<strong>Cashless Exercise</strong> at Company\u2019s Option"], ["mechanics-of-cashless-exercise", "Mechanics of Cashless Exercise", "Mechanics of <strong>Cashless Exercise</strong>"], ["registration-of-ordinary-shares-cashless-exercise-at-companys-option", "Registration of Ordinary Shares Cashless Exercise at Companys Option", "Registration of Ordinary Shares <strong>Cashless Exercise</strong> at Companys Option"], ["cashless-settlement-option", "Cashless Settlement Option", "Cashless Settlement Option"], ["automatic-cashless-exercise-upon-expiration", "Automatic Cashless Exercise upon Expiration", "Automatic <strong>Cashless Exercise</strong> upon Expiration"]], "related_snippets": [], "updated": "2026-05-29T05:44:52+00:00", "also_ask": [], "drafting_tip": "Specify eligible securities, outline payment procedures, and clarify tax obligations to ensure clarity, prevent disputes, and maintain regulatory compliance.", "explanation": "A Cashless Exercise clause allows holders of stock options or warrants to acquire shares without paying the exercise price in cash. Instead, the holder can surrender a portion of the options or shares to cover the cost, receiving fewer shares but avoiding an upfront cash payment. This mechanism is particularly useful for employees or investors who wish to realize value from their options without needing to provide additional funds. The core function of this clause is to facilitate the exercise of options by removing the barrier of immediate cash outlay, thereby making it easier for holders to participate in equity ownership."}, "json": true, "cursor": ""}}