Default Warrants Sample Clauses

Default Warrants. 3 SECTION 2A. Reset of Exercise Price of Initial Warrants................................ 3 (a) Series A Warrants.......................................................... 3 (b) Series B Warrants.......................................................... 3
Sample 1
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Default Warrants. If the Series B Notes (including all accrued and unpaid interest and fees thereon) are not paid in full on or prior to September 30, 1998, then commencing on September 30, 1998 and on the last day of each calendar month thereafter until such time as the Series B Notes shall have been so paid in full, the Company will deliver to the holders of the Series B Notes Default Warrants for 32,000 Common Shares. If the Series A Notes (including all accrued and unpaid interest and fees thereon) are not paid in full on or prior to December 31, 1998, then commencing on December 31, 1998 and on the last day of each calendar month thereafter until such time as the Series A Notes shall have been so paid in full, the Company will deliver to the holders of the Series A Notes Default Warrants for 70,000 Common Shares.
Sample 1
Default Warrants. The Default Warrants will grant the Investors the right to purchase up to a number of shares of the Company's Common Stock equal to 50% of the outstanding common. Warrants with respect to at least 25% of the Company's outstanding Common Stock will be issued at the Initial Closing, provided that the Funding Amount is not less than $250,000. Warrants with respect to an additional 25% of the Company's outstanding common stock will be issued at the next Closing at which the Funding Amount, together with all other Funding Amounts, exceeds $1,000,000. Default Warrants shall be allocated among the Investors on a pro rata basis based upon each Investor's Funding Amount. For these purposes "outstanding Common Stock" will include all outstanding Common Stock of the Company and Common Stock equivalents that are convertible into and exercisable for common stock of the Company at the then current market price or an exercise price not more that 20% above the then current market price.
Sample 1
Default Warrants. PDMC agrees and acknowledges that each of the Amsterdam Default Warrant, the Amsterdam Series A Default Warrant, the Lapoxx Xxxault Warrant and the Lapoxx XXX Xxxault Warrant (collectively, the "Default Warrants") has been effective since January 1, 1997 and that no further action whatsoever is required in order to render the Default Warrants, or any of them, effective. PDMC further agrees that, effective immediately and without need for further action, the "Exercise Price", as such term is defined in each of the Default Warrants, is reduced from Ten United States Cents ($0.10) per Share (as such term is defined in the Default Warrants) to One United States Cent ($0.01)
Sample 1
Default Warrants. (i) The Company acknowledges that due to the occurrence of the events specified in items (1) and (2) of Section 1 of the Outstanding Default Warrants, all such Outstanding Default Warrants are currently exercisable in full, and represent the right to purchase the number of shares of Common Stock set forth on Schedule 1.1(b) hereto, subject to adjustments as set forth in Section 3 of the Warrants.
Sample 1
Default Warrants. If the Company fails to pay the interest and principal on the Notes on or before March 15, 2003 then, on March 16, 2003, and, unless all interest and principal on the Notes has been paid by such date, on each June 16, September 16, December 16 and March 16 thereafter, the Company shall issue to each Purchaser (or its designee reasonably acceptable to the Company) class A warrants ("Default Warrants") to purchase a number of shares of Common Stock equal to the quotient of (i) the outstanding principal amount of Notes held by such Purchaser, divided by (ii) thirty (30), at an exercise price of $2.50 per share of Common Stock, subject to adjustment for stock splits, reverse stock splits and similar recapitalizations.
Sample 1
Default Warrants. In the event that the registration statement required to be filed pursuant to Section 2 hereof shall either (a) not be filed within 30 days from the date hereof (the "Filing Default date"), or (b) not be declared effective by the SEC within 90 days from the date hereof or, if earlier, within 5 days after the date on which the Company shall receive clearance from the SEC to request acceleration of the effectiveness of such registration statement (the "Registration Default Date"), the Company shall issue and deliver, free of charge and without cost, to each of the Holders (i) within 10 days of the Filing Default Date and/or the Registration Default Date, as applicable, warrants, in the form annexed hereto as Exhibit A, to purchase a number of shares of Common Stock equal to 5% of the number of shares of Common stock purchased by each such Holder (or such Holder's predecessor in interest) in the Offering and (ii) within 10 days of the last date of each additional 30-day period in which such registration statement shall not have been filed and/or declared effective by the SEC, additional warrants, in the form annexed hereto as Exhibit A, to purchase a number of shares of Common Stock equal to 5% of the number of shares of Common Stock purchased by each such Holder (or such Holder's predecessor in interest) in the Offering. The exercise price of such warrants, as well as the number of shares of Common Stock for which each of such warrants shall initially be exercisable, shall be appropriately adjusted, in the same manner as set forth in Section 6 of such warrants, to reflect dilutive events which shall occur after the date hereof and prior to the issuance of such warrants. Any and all shares of Common Stock issued by the Company upon the exercise of any warrants delivered pursuant to this Section 8 shall constitute "Registrable Securities," and the Company shall be required to register them under the Securities Act in accordance with the provisions of this Agreement.
Sample 1
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Related to Default Warrants

  • Conversion Shares Issuable Upon Conversion of Principal Amount The number of Conversion Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this Debenture to be converted by (y) the Conversion Price.

  • Private Placement Warrants; Forward Purchase Warrants 2.6.1 The Private Placement Warrants shall be identical to the Public Warrants, except that so long as they are held by the Sponsor or any of its Permitted Transferees (as defined below), the Private Placement Warrants: (i) may be exercised for cash or on a “cashless basis,” pursuant to subsection 3.3.1(c) hereof, (ii) including the Ordinary Shares issuable upon exercise of the Private Placement Warrants, may not be transferred, assigned or sold until thirty (30) days after the completion by the Company of an initial Business Combination, (iii) shall not be redeemable by the Company pursuant to Section 6.1 hereof and (iv) shall only be redeemable by the Company pursuant to Section 6.2 if the Reference Value (as defined below) is less than $18.00 per share (subject to adjustment in compliance with Section 4 hereof); provided, however, that in the case of (ii), the Private Placement Warrants and any Ordinary Shares issued upon exercise of the Private Placement Warrants may be transferred by the holders thereof:

  • Lost Warrants The Company represents and warrants to the Holder hereof that upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction, or mutilation of this Warrant and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation upon surrender and cancellation of such Warrant, the Company, at its expense, will make and deliver a new Warrant, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant.

  • Replacement Warrants If any mutilated Warrant is surrendered to the Warrant Agent or the Company and the Warrant Agent receives evidence to its satisfaction of the destruction, loss or theft of any Warrant, the Company shall issue and the Warrant Agent, upon receipt of a Warrant Countersignature Order, shall countersign a replacement Warrant if the Warrant Agent's requirements are met. If required by the Warrant Agent or the Company, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Warrant Agent and the Company to protect the Company, the Warrant Agent, any Agent and any agent for purposes of the countersignature from any loss that any of them may suffer if a Warrant is replaced. The Company may charge for its expenses in replacing a Warrant. Every replacement Warrant is an additional warrant of the Company and shall be entitled to all of the benefits of this Warrant Agreement equally and proportionately with all other Warrants duly issued hereunder.

  • Ordinary Shares Issuable Upon Exercise of Warrants The Ordinary Shares issuable upon exercise of the Warrants included in the Units and the Private Placement Warrants have been duly authorized and reserved for issuance upon exercise thereof and, when issued and delivered against payment therefor pursuant to the Warrants and the Private Placement Warrants, as applicable, and the Warrant Agreement and registered in the Company’s register of members, will be validly issued, fully paid and non-assessable. The holders of such Ordinary Shares are not and will not be subject to personal liability by reason of being such holders; such Ordinary Shares are not and will not be subject to any preemptive or other similar contractual rights granted by the Company; and all corporate action required to be taken for the authorization, issuance and sale of such Ordinary Shares (other than such execution (if applicable), countersignature (if applicable) and delivery at the time of issuance) has been duly and validly taken.

  • Termination of Placement Warrants It is agreed and acknowledged that immediately prior to the Closing, and without any action on the part of the Company or the Warrant Holder, the Placement Warrants shall be terminated and cancelled in full and rendered null and void. And all past, current, or future obligations of the Parties under the Placement Warrants shall be extinguished, except as otherwise expressly set forth in this Agreement. The Warrant Holder acknowledges and agrees that as of the Closing, it shall have no surviving right, title or interest in or to the Placement Warrants, any shares purchasable thereunder or any other option, warrant, right or interest to acquire any equity of the Company.

  • Issue Warrants Issue warrants for Borrower’s capital stock.

  • Placement Warrants The Placement Warrants constitute valid and binding obligations of the Company to issue and sell, upon exercise thereof and payment of the respective exercise prices therefor, the number and type of securities of the Company called for thereby in accordance with the terms thereof, and such Placement Warrants are enforceable against the Company in accordance with their respective terms, except: (i) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally; (ii) as enforceability of any indemnification or contribution provision may be limited under federal and state securities laws; and (iii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor may be brought. The shares of Common Stock issuable upon exercise of the Placement Warrants have been reserved for issuance upon the exercise of the Placement Warrants and, when issued in accordance with the terms of the Placement Warrants, will be duly and validly authorized, validly issued, fully paid and non-assessable, and the holders thereof are not and will not be subject to personal liability by reason of being such holders.

  • Insider Warrants On the Closing Date, the Insider Purchasers shall have purchased the Insider Warrants and the purchase price for such Insider Warrants shall be deposited into the Trust Fund.

  • Private Placement Warrants The Private Placement Warrants shall be identical to the Public Warrants, except that so long as they are held by the Sponsor or any of its Permitted Transferees (as defined below) the Private Placement Warrants: (i) may be exercised for cash or on a “cashless basis,” pursuant to subsection 3.3.1(c) hereof, (ii) including the Ordinary Shares issuable upon exercise of the Private Placement Warrants, may not be transferred, assigned or sold until thirty (30) days after the completion by the Company of an initial Business Combination, (iii) shall not be redeemable by the Company pursuant to Section 6.1 hereof and (iv) shall only be redeemable by the Company pursuant to Section 6.2 if the Reference Value (as defined below) is less than $18.00 per share (subject to adjustment in compliance with Section 4 hereof); provided, however, that in the case of (ii), the Private Placement Warrants and any Ordinary Shares issued upon exercise of the Private Placement Warrants may be transferred by the holders thereof:

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