Detachable Warrants definition

Detachable Warrants has the meaning specified in Section 4.4.
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Detachable Warrants means share purchase warrants in the form attached hereto as Schedule H to be issued by Unilens Canada in favour of the Lender pursuant to Clause 7.1 expiring five (5) years from the date of this Agreement entitling the Lender to purchase up to 225,000 shares of Unilens Canada at an exercise price of $2.00 U.S. per share increasing $0.25 cents U.S. per share each year, or such greater number of shares and/or lower exercise price as may be approved by the VSE and agreed to by Unilens Canada and the Lender;
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Examples of Detachable Warrants in a sentence

  • Upon exercise of the Detachable Warrants, the shares of Common Stock issuable upon such exercise will be validly issued, fully paid and nonassessable and free from all preemptive or similar rights, taxes, liens and charges with respect to the issue thereof, with the holders of such shares of Common Stock being entitled to all rights accorded to a holder of Common Stock.

  • The shares of Common Stock issuable upon exercise of the Detachable Warrants will be registered for resale under the Securities Act of 1933 (as amended, the “Act”) consistent with terms and subject to the conditions set forth in the “Registration Rights” section of the Private Placement Term Sheet.

  • The Parties hereby agree to negotiate in good faith definitive written agreements ("Definitive Agreements") providing for the sale by the Company to the Initial Purchaser of Convertible Preferred Stock and Detachable Warrants, and other transactions, all as described on the attached term sheet (collectively, the "Transactions").

  • Other than the Options and the Detachable Warrants, there are no existing subscriptions, options, warrants, convertible securities, calls, commitments, agreements, conversion rights or other rights of any character (contingent or otherwise) calling for or requiring the issuance, transfer, sale or other disposition of any capital stock of IDRC.

  • All of the outstanding Detachable Warrants -------------------- shall have been exercised by the delivery of an aggregate of 300,000 shares of Series A Preferred Stock in payment of the exercise price thereof.

  • Initially this focus will be on obtaining sufficient financing to fully fund the InforMedix $1.2 million Convertible Loan with Detachable Warrants.

  • The term of the Detachable Warrants shall be equal to the remaining term of the Notes immediately prior to the consummation of the merger or consolidation giving rise to the rights of the Holders under this Section 4.

  • Sun is acquiring the Detachable Warrants, and if the Detachable Warrants are exercised, the Warrant Shares, for investment solely for its own account and not with a view to, or for resale in connection with, the distribution or other disposition thereof.

  • All reasonable fees and expenses incurred by Sun in connection with the preparation of this Agreement and the transactions referred to herein, including the reasonable fees of Sun's counsel, shall be paid by the Company, whether or not the issuance of the Detachable Warrants, the execution and delivery of the Loan Agreement or any other transaction contemplated hereby is consummated.

  • At the Closing, the Company shall deliver to Sun the duly issued Detachable Warrants.