Net Issue Election definition

Net Issue Election shall have the meaning set forth in Section 2.6 hereof.
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Net Issue Election means the following: (i) in the case of a Purchaser’s right and obligation to purchase Shares pursuant to Section 1.1(c) hereof or Section 1.1(d) hereof, as applicable, by making payment of the applicable cash purchase price therefor in accordance with the provisions of Section 1.1(c) or Section 1.1(d), as applicable, Purchaser’s election to have the Company issue to such Purchaser a smaller number of the class or series of Shares than the Purchaser would be required to purchase pursuant to Section 1.1(c) or Section 1.1(d), as applicable, absent such election, which smaller number of such class or series of Shares shall be determined in accordance with the formula provided below and shall be issued by the Company to such Purchaser without such Purchaser being required to make payment to the Company of any cash purchase price therefor; and (ii) in the case of a Purchaser’s right to purchase Shares pursuant to Section 2.1(a) hereof or Section 2.1(b) hereof, as applicable, by making payment of the applicable cash purchase price therefor in accordance with the provisions of Section 2.1(a) hereof or Section 2.1(b) hereof, as applicable, such Purchaser’s election to have the Company issue to such Purchaser a smaller number of the class or series of Shares that such Purchaser would be entitled to purchase pursuant to Section 2.1(a) hereof or Section 2.1(b) hereof, as applicable, absent such election, which smaller number of such class or series of Shares shall be determined in accordance with the formula provided below and shall be issued by the Company to such Purchaser without such Purchaser being required to make payment to the Company of any cash purchase price therefor. The smaller number of the applicable class or series of Shares to be issued by the Company to any Purchaser that makes a Net Issue Election shall be determined as follows: X = Y (A - B)
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Examples of Net Issue Election in a sentence

  • A = the Fair Market Value (as hereinafter defined) of one Warrant Share determined at the time the Net Issue Election is made pursuant to this Section 3 (the "Determination Date").

  • Y = the number of Warrant Shares covered by this Warrant in respect of which the Net Issue Election is made pursuant to this Section 3.

  • B = the Warrant Price in effect under this Warrant at the time the Net Issue Election is made pursuant to this Section 3.

  • The Holder may elect to receive, without the payment by the Holder of any other Purchase Price or additional consideration, Common Shares equal to the value of this Right or any portion hereof by the surrender of this Right (or such portion of this Right being so exercised) together with the Net Issue Election Notice annexed hereto duly executed, at the office of the Company.

  • The Purchase Price may be paid (i) in cash or by certified check or wire transfer or (ii) pursuant to a "Net Issue Election" as provided in Section 4.

  • The Warrant Shares so purchased shall be deemed to be issued to the holder hereof or such holder’s designee, as the record owner of such shares, as of the close of business on the date on which this Warrant shall have been surrendered (or evidence of loss, theft or destruction thereof and security or indemnity satisfactory to the Company), the Warrant Price shall have been paid and the completed Exercise Agreement or Net Issue Election Notice, as the case may be, shall have been delivered.

  • At the option of the Holder, payment of any Warrant Price may be made (i) by delivery to the Company of a certified check or bank draft or by wire transfer of immediately available funds to an account designated by the Company, (ii) pursuant to the Net Issue Election set forth in Section 2.6 hereof, or (iii) by any combination of the foregoing.

  • B = the Exercise Price in effect under these Warrants at the time the Net Issue Election is made pursuant to this Section 2(b).

  • Thereupon, and in no event later than three Business Days after the Corporation’s receipt of the Net Issue Election Notice, the Corporation shall issue to the Warrantholder certificate(s) for such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the formula immediately below.

  • The Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock of equal value to the value of this Warrant, or any specified portion hereof, by the surrender of this Warrant (or such portion of this Warrant being so exercised) together with a Net Issue Election Notice, in the form annexed hereto as Appendix B, duly executed, to the Company.

Related to Net Issue Election

  • 10) Election has the meaning set forth in Section 6.05(a).

  • Section 336(e) Election has the meaning set forth in Section 7.06.

  • Exchange Election shall have the meaning specified in Section 14.12(a).

  • Primary election means any regular primary election held under the election

  • Regular election means an election held on a regular election date to elect an individual to, or nominate an individual for, elective office in the regular course of the terms of that elective office.