Issuer’s Right to Elect Settlement Method Sample Clauses
The 'Issuer’s Right to Elect Settlement Method' clause grants the issuer the authority to choose how a financial instrument or obligation will be settled, such as through cash payment, delivery of securities, or another specified method. In practice, this means that upon the occurrence of a settlement event, the issuer can decide which settlement option to use, often within a timeframe or under conditions outlined in the agreement. This clause provides flexibility for the issuer to manage its obligations efficiently and helps address uncertainties by allowing the issuer to select the most advantageous or feasible settlement method at the relevant time.
Issuer’s Right to Elect Settlement Method. Subject to the provisions of this Warrant Agreement, the Issuer may elect upon 10 Exchange Business Days’ notice to the Warrant Agent (such notice to be delivered in a format agreed upon by the Warrant Agent) and each Warrantholder for Net Share Settlement or Full Physical Settlement to apply to exercises of Warrants. Such election shall be effective on the tenth Exchange Business Day after such notice is received by the Warrant Agent and each Warrantholder and shall apply to all Warrants exercised on such tenth Exchange Business Day and on each Exchange Business Day thereafter until a subsequent such notice becomes effective in accordance with this Section 3.01. If the Issuer fails to make an election pursuant to this Section 3.01, Full Physical Settlement shall apply to all exercises of Warrants until the Issuer makes a different election in accordance with this Section 3.01.