Common use of Duties of Issuer Clause in Contracts

Duties of Issuer. Within 15 business days after the Exercise Date, Issuer shall enroll Holder on the stock transfer ledger for the Common Shares, as the owner and holder of a number of Common Shares equal to the exercised portion of the Warrant (as specified in the Notice of Exercise) divided by the then-current Share Price (the “Issued Shares”). If Issuer has appointed a transfer agent for the Common Shares, then Issuer shall direct the transfer agent to issue the Issued Shares and enroll Holder as the owner and holder thereof; provided, that the failure of the transfer agent for the Common Shares to complete the issuance of the Issued Shares and/or the enrollment of Holder as holder and owner thereof within 15 business days shall not be deemed a breach of this Warrant Agreement by Issuer.