Applicable Issuance definition
Examples of Applicable Issuance in a sentence
The issuance of each Commercial Letter of Credit shall be subject to the payment by the applicant (the "Account Party") to the Bank of a fee (an "Issuance Fee") which shall be equal to the Applicable Issuance Fee Rate multiplied by the amount thereof, which Issuance Fee shall be due and payable within ten (10) days following the issuance of any Commercial Letter of Credit.
Cash payments of Additional Consideration shall be made by wire transfer in immediately available funds to an account designated in writing by OTI to MSB at least five (5) Business Days prior to the date when the payment is due and payments of Additional Consideration to be made in MSB Ordinary Shares shall be made no later than ten (10) Business Days following the expiration of the Holding Period with respect to the Applicable Issuance.
For the avoidance of doubt, if none of the Applicable Issuance Events have occurred on or prior to the Third Tranche Issuance Deadline, then this Warrant shall immediately terminate and be of no further force and effect.
The additional MSB Ordinary Shares shall be valued at the Holding Period Price for such Applicable Issuance or a mix thereof.
Notwithstanding anything to the contrary in this Agreement, the Company shall cause the First Amendment to not become effective until the earlier of (i) NASDAQ notifying the Company that the issuance of PIK Shares does not constitute an Applicable Issuance and (ii) shareholder approval of the issuance of the PIK Shares is obtained.
The issuance of each Commercial Letter of Credit shall be subject to the payment by the applicant (The "Account Party") to the Bank of a fee (an"Issuance Fee") which shall be equal to the Applicable Issuance Fee Rate multiplied by the amount thereof, which Issuance Fee shall be due and payable within ten (10) days following the issuance of any Commercial Letter of Credit.
If an Applicable Issuance Event does not occur on or prior to the Applicable Issuance Deadline, then the Applicable Warrant Shares subject to such Applicable Issuance Event shall never become exercisable pursuant to this Warrant.
The Warrant is exercisable, in whole or in part, in three tranches commencing on the Applicable Issuance Date for the Applicable Warrant Shares and ending on the Termination Date.
Promptly upon the occurrence of an Applicable Issuance Event (but in no event later than five (5) Trading Days following the occurrence of an Applicable Issuance Event), the Company shall deliver to the Holder a notice which shall detail the date on which such Applicable Issuance Event has occurred and the aggregate number of Applicable Warrant Shares then exercisable under the terms of this Warrant.