Exchange Forms Sample Clauses

Exchange Forms. On the fourteenth Business Day following the date of the Exchange Notice (the “Exchange Date”), the Company shall effect an automatic Exchange of all or a portion of the outstanding Warrants into Class A Common Stock, Class B Common Stock and/or Series 1 Warrants as described in Section 3.4(c) below. By returning an Election Form within twelve (12) Business Days of the Exchange Notice, Holders may elect (i) to receive Class B Common Stock in lieu of any shares of Class A Common Stock to which such Holder would otherwise be entitled if the Holder has elected to receive Class B Common Stock on its Election Form by checking the Class B Common Stock Only Election box, (ii) to retain Series 1 Warrants (or, in the case of a Holder of Series 2 Warrants, to exchange its Series 2 Warrants for Series 1 Warrants) in lieu of any Common Stock to which such Holder would otherwise be entitled (a “Warrant Election”), (iii) to receive Class A Common Stock up to 4.99% of the outstanding Class A Common Stock and retain Series 1 Warrants (or, in the case of a Holder of Series 2 Warrants, to exchange its Series 2 Warrants for Series 1 Warrants) in lieu of any remaining Common Stock to which such Holder would otherwise be entitled, or (iv) solely with respect to Term Loan Holders, to receive Common Stock in the form of Restricted Stock. If only a portion of the outstanding Warrants are to be Exchanged, any Holder (i) that has never submitted a Plan Certification or an Ownership Certification or (ii) for whom the information in the most recently submitted Ownership Certification is no longer accurate, must submit a new Ownership Certification within twelve (12) Business Days of the Exchange Notice. The Warrant Agent shall deliver copies of each Election Form and Ownership Certification to the Company in such reasonable manner as the Company shall instruct in writing. If any Holder of Series 2 Warrants has never submitted a Plan Certification or Ownership Certification, such Series 2 Warrants shall not be eligible to be Exchanged for Common Stock and shall be Exchanged for Series 1 Warrants on the Exchange Date.