Common use of Commitment Warrant Clause in Contracts

Commitment Warrant. Exercise Price is equal to one hundred and twenty percent (120%) of the lower of: (i) the lowest closing VWAP of the fifteen (15) trading days immediately preceding the First Closing Notice; or (ii) the lowest closing VWAP of the fifteen (15) trading days immediately preceding the signing of the Term Sheet, having regard for any adjustments made in accordance with the terms of the Commitment Warrants and provided that under no circumstances shall the Commitment Warrant Exercise Price be less than the minimum price permitted under applicable law or the rules of any exchange on which the Common Shares are listed for trading, which is presently the CSE;