Exercise Limitations. In the event the Company is unable to issue Common Stock upon exercise of this Warrant, then upon receipt by the Company of notice that the Holder of this Warrant would exercise this Warrant but for the Company's inability to issue Common Stock upon exercise of this Warrant, then the Company will pay to the Holder of this Warrant, in lieu of delivering Common Stock, a sum equal to the closing ask price of the Company's Common Stock on NASDAQ SmallCap or such other principal trading market for the Company's Common Stock on the trading date immediately preceding the date notice is given by the Holder, less the exercise price of this Warrant for each shares of Common Stock designated in such notice from the Holder.
Appears in 3 contracts
Sources: Common Stock Purchase Warrant (Frederick Brewing Co), Common Stock Purchase Warrant (Integrated Spatial Information Systems Inc), Subscription Agreement (Frederick Brewing Co)