WBM definition
Examples of WBM in a sentence
WBM hereby acknowledges, agrees and confirms that, by its execution of this Amendment, WBM shall, effective upon consummation of the RTO, be bound by the terms and conditions of the Credit Agreement the same as if it were a Borrower under the Credit Agreement ab initio; provided however, that neither JGB Agent nor the Lenders shall have any duties, responsibilities or obligations to WBM arising under or related to the Credit Agreement or the other agreements executed and delivered in connection therewith.
As soon as practicable after the date hereof, WBM shall apply to the Court for the Interim Order.
Notwithstanding anything else contained herein to the contrary, WBM shall have no obligation under this Amendment or the Credit Agreement and shall not be deemed to have joined the Credit Agreement as a Borrower until the consummation of the RTO.
The Lenders and WBM shall maintain records showing the principal amount(s) converted and the date of such conversion(s).
In addition, immediately prior to the consummation of the RTO, the Lenders will be entitled to receive collectively for the three Lenders, additional warrants of Bitzero that shall, pursuant to the RTO, be exchanged for warrants exercisable for shares of WBM, and which shall collectively be exercisable for a number of shares equal to 1% of the issued and outstanding shares of WBM post-RTO (on a fully diluted basis) and calculated as of the closing time of the RTO.
The exchange of the warrants shall be evidenced by a warrant exchange agreement, mutually acceptable to the Lenders and WBM, to be executed upon consummation of the RTO.
The Parties agree that the Arrangement will be carried out with the intention that all securities of WBM and the WBM Subsidiaries to be issued pursuant to the Arrangement will be issued and exchanged in accordance with the Plan of Arrangement in reliance on the exemption from the registration requirements of the U.S. Securities Act provided by Section 3(a)(10) thereof (the “Section 3(a)(10) Exemption”).
Upon consummation of the RTO, the existing Warrants shall be exchanged for warrants exercisable for the shares of WBM.
Each Lender shall effect conversions by delivering to WBM a Notice of Conversion (each, a “Notice of Conversion”), specifying therein the amount of its respective pro rata portion of the outstanding Convertible Advance, held by such Lender to be converted and the date on which such conversion shall be effected (such date, the “Conversion Date”).
As to any fraction of a share which a Lender would otherwise be entitled to purchase upon such conversion, WBM shall at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Conversion Price or round up to the next whole share.