Conditional Warrants definition
Examples of Conditional Warrants in a sentence
Except for the Conditional Warrants, all of the outstanding warrants, convertible notes, convertible preferred stock and options have been duly and validly authorized by the board of directors of the Company and the board of directors of the Company has reserved a sufficient number of shares of Common Stock in the event all such warrants, convertible notes, convertible preferred stock and options are converted into shares of Common Stock of the Company.
The Conditional Warrants shall entitle Holders to acquire, in the circumstances where such Warrants become exercisable, between Four Thousand (4,000) and Twenty Thousand (20,000) shares in the aggregate.
The Company has a call option on the warrants, which can only be exercised as to all of the shares issuable at that time, with a repurchase price of $900,000 for each of the Conditional Warrants and Unconditional Warrants.
If any of the Notes remain outstanding 180 days following the Closing Date, the Company further agrees to use its best efforts to immediately file a registration statement under the Securities Act (the "Conditional Registration Statement") covering the resale of (i) those shares of Common Stock issuable upon the exercise of the Conditional Warrants and (ii) those shares of Common Stock into which the Notes are convertible on the date prior to the filing of such Conditional Registration Statement.
The Company may, by written notice to each holder of a Conditional Warrant, appoint an agent having an office for the purpose of issuing Additional Debentures and Additional Warrants on the exercise of the Conditional Warrants pursuant to Section 3, exchanging Conditional Warrants pursuant to Section 8, and replacing Conditional Warrants pursuant to Section 9, or any of the foregoing, and thereafter any such issuance, exchange or replacement, as the case may be, shall be made at such office by such agent.
In the event that the Maximum is no longer applicable or otherwise required by TSX-V, this section 5.7 shall cease to apply and ▇▇▇▇▇▇ shall issue such number of ▇▇▇▇▇▇ Shares and Conditional Warrants as is otherwise required pursuant to Section 5.3 hereof.
The "Call Price" (i) of each share of Common Stock (including Underlying Common Stock) will be the Put Price as determined in accordance with Section 9.2 and (ii) of each Warrant to purchase a share of Common Stock will be the Put Price determined in accordance with Section 9.2 less the applicable exercise price for such Warrant and for such purposes, Conditional Warrants shall be deemed to represent the number of shares of Common Stock as if they were exercised on the Call Exercise Date.
The Holders hereby waive the right to any adjustment of the Purchase Price under Section 8(f) of the Initial Warrants (and any corresponding adjustment to the number of shares subject to the Initial Warrants under Section 8(h) thereof) as a result of the issuance of the New Warrants and Conditional Warrants and any shares of Common Stock issued upon exercise of the New Warrants or Conditional Warrants.
If the Notes are prepaid prior to 180 days and after 90 days following the Closing Date, the Company will use its best efforts to file a registration statement under the Securities Act covering the resale of those shares of Common Stock issuable upon the exercise of the Conditional Warrants within 30 days following such prepayment of the Notes.
Warrants ("Conditional Warrants") to purchase the remaining 270,000 shares are exercisable at any time during the period commencing September 1, 1998 and ending on the fifth anniversary of issuance, unless the Company is able to refinance its bank debt by December 24, 1998 in which case these warrants expire.