Examples of Anti-Dilution Protection in a sentence
If the Dilution Trigger is reached or exceeded during a specific round of funding, Anti-Dilution Protection will extend to the total amount of funding raised through the closing of that specific round of funding.
Notwithstanding anything to the contrary in this Agreement, the Sub-Administrator shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the bad faith, negligence, fraud, reckless disregard in the performance of its duties and obligations under this Agreement, uncured material breach of this Agreement or willful misconduct of the Sub-Administrator (the “Standard of Care”).
The Anti-Dilution Protection under this Section 7.3 will continue until an amount of $[***], when aggregated with prior closings, has been raised by Graphite in a bona fide round of financing through the sale of securities or by conversion of instruments convertible into equity (“Dilution Trigger”).
The “Conversion Price” for a series of Preference Shares shall initially be equal to the original issue price for such series of Preference Shares and, subject to applicable Law, shall be continuously adjusted in accordance with Clause 3.3.8 and SCHEDULE 3 (Anti-Dilution Protection), and other applicable provisions of the Transaction Documents.
Due to the LPS Warrants, LPS and the Solstad Family Entities may increase their shareholdings with an additional 5,038,187 Shares, which, if fully exercised, will give a total of 8,120,842 Shares and constitute up to between 10-11% of the Shares, depending on the degree of conversion of the Warrants and the Anti-Dilution Protection Loan, assuming no other share capital increases are carried out.
However, the Shares to be issued in the Private Placement 2 and upon conversion of the Anti-Dilution Protection Loan (see Section 5.7) are subject to a lock-up period of three years, or as regards each of Aker and Hemen, until the earlier date that Aker or Hemen respectively is no longer offered a Board position.
The Anti-Dilution Protection under this Section 7.3 will continue until an amount of $[***], when aggregated with prior closings, has been raised by Syncopation in a bona fide round of financing through the sale of securities or by conversion of instruments convertible into equity (“Dilution Trigger”).
M den Heijer, ‘Remedies in the Dublin Regulation: Ghezelbash and Karim’ (2017) Common Market Law Review 859, 866.
Furthermore, Aker, Hemen and Jarsteinen will be offered to grant the Company an unsecured and fully subordinated zero-interest convertible loan in the amount of between NOK 1,862,618 and NOK 2,810,464, subject to the Board's final decision based on the level of subscription in the Private Placements (the "Anti-Dilution Protection Loan").
Notwithstanding anything to the contrary herein, the Preferred E-1 Shares (as defined in the Articles) representing the Warrant Shares will be entitled to the Anti-Dilution Protection as set forth under Article 8.4.5 of the Articles, whether or not outstanding, and, accordingly, upon exercise of this Amended and Restated Warrant, the Warrant Shares issued to the Holder will have the same then-effective conversion price as all other Preferred E-1 Shares, whether or not outstanding.