Exercised Warrants Clause Samples
The "Exercised Warrants" clause defines the terms and conditions that apply when a warrant holder chooses to exercise their right to purchase shares or other securities under a warrant agreement. Typically, this clause outlines the process for exercising the warrant, such as submitting a notice and payment, and specifies what the holder receives upon exercise, like the number and type of shares issued. Its core practical function is to ensure both parties understand the steps and outcomes involved in exercising warrants, thereby providing clarity and reducing the risk of disputes over the execution of these rights.
Exercised Warrants. If any Warrant(s) (or any portions of any Warrant(s) representing less than all of the Underlying Shares thereof) are Exercised, then, at the Close of Business on the Exercise Date for such Exercise (unless there occurs a default in the delivery of the Exercise Consideration due pursuant to Section 5 upon such Exercise): (1) such Warrant(s) (or such portions thereof) will be deemed to cease to be outstanding; and (2) the rights of the Holder(s) of such Warrant(s) (or such portions thereof), as such, will terminate with respect to such Warrant(s) (or such portions thereof), other than the right to receive such Exercise Consideration as provided in Section 5.
Exercised Warrants. If any Warrant(s) are exercised, then, at the Close of Business on the Exercise Date for such exercise (unless there occurs a default in the delivery of the Exercise Consideration due pursuant to Section 5 upon such exercise): (1) such Warrant(s) will be deemed to cease to be outstanding; and (2) the rights of the Holder(s) of such Warrant(s), as such, will terminate with respect to such Warrant(s), other than the right to receive such Exercise Consideration as provided in Section 5.