Common use of Issuance of Common Shares Clause in Contracts

Issuance of Common Shares. As promptly as practicable after the date on which part or all of the Warrants represented by this Warrant Certificate are exercised (the "Date of Exercise") of any Warrants and in any event within three (3) Business Days after receipt of the Election to Purchase, the Company shall issue, or cause its transfer agent to issue, a certificate or certificates for the number of non-fractional Warrant Shares (the "Common Share Certificate"), registered in accordance with the instructions set forth in the Election to Purchase. All Warrant Shares issued upon the exercise of any Warrants shall be legally and validly authorized and issued and outstanding, fully paid, non-assessable, free of pre-emptive rights and free from all taxes, liens, charges and security interests in respect of the issuance thereof. Each person in whose name any such Common Share Certificate is issued shall be deemed for all purposes to have become the holder of record of the Common Shares represented thereby on the Date of the Exercise of the Warrants resulting in the issuance of such shares, irrespective of the date of issuance or delivery of such Common Share Certificate. The Company shall pay all expenses, taxes and other charges payable in connection with the preparation, issuance and delivery of new Common Share Certificates, including, without limitation, any transfer or stamp taxes.

Issuance of Common Shares. As promptly as practicable after the date on which part or all of the Warrants represented by this Warrant Certificate are exercised (the "Date of Exercise") Exercise of any Warrants and in any event within three seven (37) Business Days days after receipt of the Election to Purchase, the Company shall issue, or cause its transfer agent to issue, a certificate or certificates for the number of non-non- fractional Warrant Shares (the "Common Share Certificate"), registered in accordance with the instructions set forth in the Election to Purchase, together with cash for fractional Warrant Shares as provided in Section 3.9. All Warrant Shares issued upon the exercise of any Warrants shall be legally and validly authorized and issued and outstandingissued, fully paid, non-assessable, free of pre-emptive preemptive rights and free from all taxes, liens, charges and security interests in respect of the issuance thereof. Each person in whose name any such Common Share Certificate is issued shall be deemed for all purposes to have become the holder of record of the Common Shares represented thereby on the Date of the Exercise of the Warrants resulting in the issuance of such shares, irrespective of the date of issuance or delivery of such Common Share Certificate. The Company shall pay all expenses, taxes and other charges payable in connection with the preparation, issuance and delivery of new Common Share Certificates, including, without limitation, any transfer or stamp taxes.