Upon exercise Sample Clauses
The "Upon exercise" clause defines the actions and consequences that occur when a party exercises a specific right or option under the agreement. Typically, this clause outlines the procedures to be followed, such as providing notice, fulfilling payment obligations, or transferring assets, once the right is exercised. For example, in an option contract, it may specify how and when the option holder must notify the other party and what steps must be taken to complete the transaction. The core function of this clause is to ensure clarity and predictability in the execution of contractual rights, reducing the risk of disputes over the process or timing of exercising those rights.
Upon exercise of Buyer's rights to purchase in accordance with this Letter Agreement, the parties shall amend the Agreement or enter into an additional purchase agreement in order to give effect to the purchase of Option Aircraft in accordance with the terms and conditions thereof.
Upon exercise. As soon as practicable after exercise of this Warrant, the Company shall cause to be issued and delivered to the Registered Holder (a) a certificate or certificates representing the aggregate number of shares of Common Stock specified in said Notice Form, all of which shares shall be duly authorized and validly issued, fully paid and nonassessable, (b) cash in lieu of any fractional share based upon the fair market value of a share of Common Stock, as determined by the Company and (c) any other securities or property (including cash) to which such Registered Holder is entitled upon such exercise pursuant to the terms of this Warrant. Each stock certificate representing shares of Common Stock so issued and delivered shall be registered in the name of the Registered Holder or, subject to the provisions of Sections 4 and 5 hereof, such other name as shall be designated by the Registered Holder. Such certificate or certificates shall be deemed to have been issued and the Warrantholder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares of Common Stock only as of the date the certificate representing such shares is issued by the Company.
Upon exercise. This Warrant shall be deemed to have been exercised on the date the Exercise Agreement is received by the Company. On or before the first (1st) Trading Day following the date on which the Company has received the Exercise Agreement, the Company shall transmit by facsimile, in the form attached hereto as Exhibit B(the “Acknowledgment”), confirming the receipt of the Exercise Agreement to the Holder and the Company’s transfer agent (the “Transfer Agent”). On or before the third (3rd) Trading Day following the date on which the Company has received the Exercise Agreement, the Company shall transmit by the Transfer Agent, as set forth in Section 1(c)(iii), the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise, along with the surrender of this Warrant (if required) and payment of the aggregate Exercise Price as set forth above (“Warrant Share Delivery Date”). Upon delivery of the Exercise Agreement, the Warrant Shares shall be deemed to have been issued, and the Holder or any other person so designated to be named therein, shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date such Warrant Shares are credited to the Holder’s DTC account or the date of delivery of the certificates evidencing such Warrant Shares (as the case may be) and irrespective of the date the Warrant has been exercised by payment to the Company (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to Section 1(c)(viii) prior to the issuance of such shares, have been paid.
Upon exercise of Borrower's cancellation rights hereunder, the corresponding proportion of the Shares cancelled by Borrower for that three-month period and not delivered to the Lead Lender or its designee(s) shall be cancelled by Borrower and the Lead Lender or its designee(s) shall not have any further right, title or interest in such Shares. This Agreement and the Loan Agreement contemplate that the Lead Lender shall not have the obligation to disburse proceeds more than once in any three-month period.
Upon exercise. Upon an exercise of this Warrant, within the Delivery Period (as defined below), the Company shall issue and deliver (or cause its transfer agent (the “Transfer Agent”)) to issue and deliver, if applicable), in accordance to the terms hereof to or upon the order of the Holder, that number of Shares for the portion of this Warrant exercised as shall be determined in accordance herewith. Upon the Exercise of this Warrant or any part hereof, the Company shall, at its own cost and expense, take all necessary action, including the instructions to and the costs associated with obtaining and delivering an opinion of counsel, if applicable, to assure that any such Transfer Agent shall, to the extent applicable issue stock certificates in the name of Holder (or its nominee) or such other persons as designated by Holder and in such denominations to be specified at Exercise representing the number of Shares issuable upon such Exercise. “Delivery Period” means the period beginning on the Date of Exercise and ending (i) in the case of an exercise made prior to an IPO Event, fifteen (15) Business Days after such Date of Exercise and (ii) in the case of an exercise made after an IPO Event, three (3) Business Days after such Date of Exercise. “Exercise Shares” means the number of Shares that are issuable by the Company in respect of an exercise hereunder.
Upon exercise. Upon exercise of the Option and the execution by Neose of the License Agreement, BioGeneriX will pay to Neose $******.
Upon exercise of Lessee's rights to the Expansion Space, Lessor shall provide Lessee with an allowance (the "Allowance") equal to $31.50 per rentable square foot contained within the Expansion Space to pay the costs of the design, supervision and construction of the improvements to the Expansion Space (the "Expansion Space Improvements"), including, without limitation, all costs of design, all costs of materials and labor to install the Expansion Space Improvements and the General Contractor's fee and overhead. Lessor will pay all such costs as and when incurred by Lessor on a timely basis only to the extent of the Allowance and Lessee shall pay all such costs in excess of the Allowance. If such costs shall be less than the Allowance, then at Lessee's option Lessee may either (i) have Lessor make a cash payment to Lessee upon the completion of Lessor's Work in an amount equal to the savings, or (ii) abat▇ ▇▇▇ first accruing Base Rent or Amount Due payments in an amount equal to the savings. Lessor agrees that it shall pay the Space Architect and Lessee's other chosen, architects, engineers, and designers for their costs to prepare architectural, mechanical, electrical, plumbing, finish schedules, and furniture plans; and such payment shall be made on a timely basis following Lessor's receipt of approved invoices from Lessee, and that such payments made on behalf of Lessee shall be charged against the Allowance. Lessor will not charge any construction management fees or other fees for its overseeing of the construction of the Expansion Space.