Automatic Cashless Exercise upon Expiration. In the event that, upon the Expiration Date, the Fair Market Value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall, within a reasonable time following Holder’s fulfillment of the conditions set forth in Section 1.1 above, deliver (i) a certified extract of the Company’s register of members evidencing the issuance of the Shares and (ii) a certificate representing the Shares (or such other securities) issued upon such exercise to Holder.
Appears in 4 contracts
Samples: Lombard Medical, Inc., Lombard Medical, Inc., Lombard Medical, Inc.
