Exercise of Warrant Vesting. (1) This Warrant may be exercised, in whole or in part, with respect to any Warrant Shares that have vested in accordance with the provisions of Section (a)(3) at any time or from time to time from the date hereof up to and including the earlier of (A) March 28, 2031, or (B) the dissolution, liquidation or winding up of the Company (in each case, whether voluntary or involuntary) (the “Exercise Period”). This Warrant may be exercised by presentation and surrender hereof to the Company at its principal office with the Purchase Form annexed hereto duly executed and accompanied by payment of the Exercise Price for the number of Warrant Shares specified in such form. As soon as practicable after each such exercise of this Warrant, but not later than three (3) Business Days following the receipt of good and available funds, the Company shall issue and deliver to the Holder a certificate or book entry position for the Warrant Shares issuable upon such exercise, registered in the name of the Holder or its designee. If this Warrant should be exercised in part only, the Company shall, upon surrender of this Warrant for cancellation, execute and deliver a new Warrant evidencing the rights of the Holder thereof to purchase the balance of the Warrant Shares purchasable hereunder. As of the end of business on the date of receipt by the Company of this Warrant at its office in proper form for exercise, the Holder shall be deemed to be the holder of record of the Ordinary Shares or other property issuable upon such exercise, notwithstanding that the stock transfer books of the Company shall then be closed or that certificates or book entry positions representing such shares shall not then be physically delivered to the Holder.
Exercise of Warrant Vesting. (a) Subject to (b) below, this Warrant may be exercised by the Holder hereof in full at any time until the Expiration Date by surrender of this Warrant and the subscription form annexed hereto (duly executed by the Holder), to the Company, and by making payment in cash or by certified or official bank check payable to the order of the Company, in the amount obtained by multiplying (i) the number of shares of Common Stock subject to the Warrant by (ii) the Purchase Price then in effect. The shares of Common Stock subject to this Warrant shall initially be one-third vested, rounded downwards to the nearest share of Common Stock. Holder shall acquire a vested interest with respect to an additional one-third of the shares of Common Stock subject to this Warrant upon the passing each one year anniversary of the Issue Date so that upon the second anniversary of the Issue Date all shares of Common Stock underlying this Warrant shall be vested.
Exercise of Warrant Vesting
