on Exercise definition

on Exercise. The following additional provisions shall apply to the exercise of this Option:
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on Exercise. As soon as practicable after the exercise of this Warrant in full or in part, and in any event within 10 days thereafter, the Company at its expense (including the payment by it of any applicable issue taxes) will cause to be issued in the name of and delivered to the holder hereof, or as such holder (upon payment by such holder of any applicable transfer taxes) may direct, a certificate or certificates for the number of fully paid and nonassessable Warrant Shares to which such holder shall be entitled on such exercise, plus, in lieu of any fractional Share to which such holder would otherwise be entitled, cash equal to such fraction multiplied by the then current Fair Market Value of one full Share. "Fair Market Value" shall mean (i) the closing price per share of the Common Stock on the date of exercise of this Warrant (the "Exercise Date"), but if no shares were traded on such date, then on the last previous date on which a share was so traded if such date is no more than 30 days prior to the Exercise Date, or, if shares are not traded, (ii) the average of the bid and asked closing prices for one share of Common Stock on the over-the-counter market if such prices are available as of a date that is no more than 30 days prior to the Exercise Date, or, if such information is not available, (iii) the price per share of Common Stock at which shares of Common Stock were sold by the Company in private transactions as of a date that is no more than 30 days prior to the Exercise Date, or, if none of the above is applicable, (iv) the fair market value of a share of Common Stock as established by the Board of Directors of the Company as of the Exercise Date using any reasonable method of valuation.
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Examples of on Exercise in a sentence

  • No fractional shares or scrip representing fractional shares shall be issuable upon the Exercise of this Warrant, but on Exercise of this Warrant, Holder may purchase only a whole number of shares of Common Stock.

  • If, on Exercise of this Warrant, Holder would be entitled to a fractional share of Common Stock or a right to acquire a fractional share of Common Stock, such fractional share shall be disregarded and the number of shares of Common Stock issuable upon exercise shall be the next higher number of shares.

  • No fractional shares or scrip representing fractional shares shall be issuable upon the Exercise of this Warrant, but on Exercise of this Warrant, the Holder hereof may purchase only a whole number of shares of Common Stock.

  • If, on Exercise of this Warrant, Holder would be entitled to a fractional share of Common Stock or a right to acquire a fractional share of Common Stock, such fractional share shall be disregarded and the number of shares of Common Stock issuable upon Exercise shall be the next higher whole number of shares.

  • Upon exercise pursuant to this Notice of Exercise, the Holder will be in compliance with the Limitation on Exercise (as defined in the Securities Purchase Agreement pursuant to which this Warrant was issued).

  • If, on Exercise of this Warrant, the Holder hereof would be entitled to a fractional share of Common Stock or a right to acquire a fractional share of Common Stock, such fractional share shall be disregarded and the number of shares of Common Stock issuable upon conversion shall be the next higher number of shares.

  • If, on Exercise of this Warrant, Holder would be entitled to a fractional share of Common Stock or a right to acquire a fractional share of Common Stock, such fractional share shall be disregarded and the number of shares of Common Stock issuable upon Exercise shall be the next closest number of whole shares.

  • Restrictions on Exercise The Company will not permit you to exercise this Option if the issuance of Shares at that time would violate any law or regulation.

  • No adjustments shall be made for any cash dividends on Exercise Shares issuable upon exercise of the Warrant.

  • If, on Exercise of this Warrant, Holder would be entitled to a fractional share of Common Stock or a right to acquire a fractional share of Common Stock, such fractional share shall be disregarded and the number of shares of Common Stock issuable upon Exercise shall be the next higher number of shares.

Related to on Exercise