Required Exercise at Maturity Sample Clauses

Required Exercise at Maturity. Subject to the limitations set forth in Article II.C(i) and provided all shares of Common Stock issuable upon exercise of all outstanding Prepaid Warrants are then (i) authorized and reserved for issuance, and (ii) registered under the Securities Act of 1933, as amended, for resale by the holders of Prepaid Warrants, each Prepaid Warrant issued and outstanding on the fifth (5th) anniversary of the Issuance Date thereof (the "MATURITY DATE"), automatically shall be exercised into shares of Common Stock on such date in accordance with the exercise formulas set forth in Article II.A (the "REQUIRED EXERCISE AT MATURITY"); provided, however, the Maturity Date shall be extended for a period equal to the number of days any Event of Default (as herein defined) or Trading Market Trigger Event (as herein defined) is in existence. If the Required Exercise at Maturity occurs, the Corporation and the holders of Prepaid Warrants shall follow the applicable exercise procedures set forth in Article II.B; provided, however, that the holders of Prepaid Warrants are not required to deliver a Notice of Exercise to the Corporation or its transfer agent.