Mandatory Exercise. (a) If (i) the Price of the Common Stock is greater than 150% of the Exercise Price (as adjusted to reflect any stock split, combination, reclassification, recapitalization, exchange, stock dividend or other distribution payable in Common Stock with respect to shares of Common Stock) for sixty (60) consecutive trading days in the principal market in which the Common Stock is traded and (ii) the Company gives written notice (the "Company Notice") to the holder hereof of the satisfaction of the condition in clause (i), then within fifteen (15) days after the effective date of the Company Notice, the holder hereof shall exercise all of the Warrants. If required by this Section 5, the holder hereof agrees to exercise the Warrants, and to purchase shares of Common Stock pursuant to the terms of this Warrant Certificate. If the holder has not fulfilled its obligations to exercise the Warrants pursuant to this Section 5 within fifteen (15) days after the holder's receipt of the Company Notice, then (without limiting the Company's available remedies) (A) the obligations of holder under this Section 5 shall continue but the purchase rights otherwise represented by this Warrant Certificate shall terminate, (B) the Company may thereafter refuse, in its sole discretion, to allow holder to exercise the Warrants (including pursuant to this Section 5), (C) all obligations of the Company under Sections 0, 0, 0 xxx 0 xxxxx xxxxxxxxx, (X) no further adjustments to the Exercise Price shall be made unless the Company in its sole discretion consents in writing. Each Warrant holder's obligations under this Section 5(a) shall be subject to the expiration or termination of all waiting periods (and any extensions thereof) applicable to exercise of such holder's Warrants under the HSR Act (as defined below); provided that such holder shall have certified in writing to the Company that a filing under the HSR Act is required and provided further that such holder shall use its best efforts to cause the expiration or termination of such waiting period to occur as promptly as practicable.
Mandatory Exercise. The Company shall have the option, subject to the Equity Conditions, to cause the Holder to exercise the Warrant (“Mandatory Exercise”) in whole or in part upon written notice (“Mandatory Exercise Notice”). For purposes of this Warrant, “Equity Conditions” means: (i) no breach under any of the Transaction Documents shall have occurred, (ii) the last closing sale price of the Common Stock has been equal to or greater than $2.00 per share (subject to adjustments for splits, dividends, recapitalizations and similar events) for consecutive 10 Trading Days immediately prior to the date on which the Mandatory Exercise Notice is given to the Holder (the “10 Day Consecutive Period”), (iii) on each Trading Day during the 10 Day Consecutive Period, the total daily trading dollar volume was at least $1,000,000, and (iv) during each day of the 10 Day Consecutive Period and through the date of the Mandatory Exercise shall occur, the Company must have an effective registration statement with a current prospectus in compliance with Sections 5 and 10 of the Securities Act on file with the SEC pursuant to which the Warrant Shares may be sold. The Mandatory Exercise Notice shall specify a date, which shall not be less than 30 days from the date such Mandatory Exercise Notice is received by the Holder on which such Mandatory Exercise shall occur. The Company’s right to require a Mandatory Exercise shall be subject to and may be limited by Section 2(e) above.
Mandatory Exercise. Notwithstanding any other provision hereof, the Holder shall, upon the request of the Company, fully exercise this Warrant concurrently with the closing of a Qualified Public Offering.
Mandatory Exercise. This Warrant shall be exercised to shares of common stock of the Company at the Exercise Price when the Company’s common stock closes at a price of $4.00 per share or higher for a period of 30 consecutive trading days and if the Registration Statement covering the shares underlying the Warrants is still effective, subject to the limit of Warrant Holder’s beneficial ownership set forth in this Section 5(e) and 5(f).
Mandatory Exercise. (a) In the event the Market Price of the Common Stock for twenty (20) consecutive trading days is equal to at least $22.37 per share (as appropriately adjusted for stock splits, stock dividends, combinations, recapitalizations, reclassifications, mergers, consolidations and other similar events), the Company shall have the right to cause the exercise of the Warrants at any time thereafter by the Warrantholders by giving written notice to each Warrantholder of such election (a "Mandatory Exercise Election Notice"); provided that the ---------------------------------- Warrant Shares issuable upon such exercise shall have been Registered (as defined) and listed on each securities exchange, over-the-counter market or on the Nasdaq National Market on which similar Securities issued by the Company are then listed. "
Mandatory Exercise. (a) Notwithstanding anything to the contrary contained herein, including Section 3.8, from and after the date on which the Mandatory Exercise Condition has occurred and is continuing, each of the Company, on the one hand, and the Required Mandatory Exercise Warrantholders, on the other hand, shall have the right and option (but not the obligation) to (x) in the case of the Company, cause all, but not less than all, of the Warrants, and (y) in the case of the electing Required Mandatory Exercise Warrantholders, cause all, but not less than all, of their respective Warrants, in each case, to be automatically exercised pursuant to Section 3.2(b)(iii)(y) (after giving effect to any applicable adjustment pursuant to Section 4.1 and without regard to whether any such Warrants are held by a BOL Warrantholder subject to the limitations of Section 3.8), without requiring any further action on the part of any such Warrantholder (a “Mandatory Exercise”). In the event the Company or the Required Mandatory Exercise Warrantholders elect to cause a Mandatory Exercise in accordance with the preceding sentence, the Company or the electing Required Mandatory Exercise Warrantholders (as the case may be) shall deliver to the Warrant Agent, for delivery to (x) in the case of the Company, the Warrantholders, and (y) in the case of the electing Required Mandatory Exercise Warrantholders, the Company, a notice of the mandatory exercise of the Warrants pursuant to this Section 3.3 (the “Mandatory Exercise Notice”), which Mandatory Exercise Notice shall include
Mandatory Exercise. Notwithstanding the provisions of Paragraph 1A, during the period commencing with the second anniversary of the Date of Issuance through the Exercise Period (the "MANDATORY EXERCISE PERIOD"), upon written notice from the Company evidencing that the Current Market Price equals or exceeds an amount equal to three times the then Exercise Price (the "MANDATORY EXERCISE NOTICE"), the Registered Holder shall exercise all (but not as to any fractional share of Common Stock) of the purchase rights represented by this Warrant; provided that, notwithstanding the foregoing, the Registered Holder shall have no obligation pursuant to this Paragraph 1B to exercise any portion of the purchase rights represented by this Warrant on any date if on such date or at any time during the 30 consecutive trading day period ending immediately prior to such date the Common Stock is not listed or admitted to trading on any national securities exchange and is not traded over the counter and reported by Nasdaq or any comparable system. for purposes of this paragraph, "CURRENT MARKET PRICE" means, at any date during the Mandatory Exercise Period, the average of the daily closing price per share of Common Stock for the 30 consecutive trading day period during the Mandatory Exercise Period ending on the trading day immediately before such date ( as adjusted for any stock dividend, split, combination or reclassification that took effect during such 30 trading day period). The closing price for each day shall be the last reported sale price on the principal national securities exchange on which Common Stock is listed or admitted to trading or if not listed or admitted to trading on any national securities exchange, as reported by Nasdaq, if such security is traded over the counter and quoted in the Nasdaq National Market or Nasdaq Small Cap Market, or if such equity security is so traded, but not so quoted, the closing bid price of Common Stock as reported by Nasdaq or any comparable system. The Registered Holder shall be required to exercise pursuant to Paragraph 1C all of the then unexercised purchase rights represented xx xxxx Xxxrant no earlier than the 30th day following the Registered Holder's receipt of the Mandatory Exercise Notice.
Mandatory Exercise i. At the Company’s election, the Company shall have the right to require the Holder to exercise all or any portion of this Warrant still unexercised (a “Mandatory Exercise”) into fully paid, validly issued and nonassessable Warrant ADSs or Warrant Shares [or Pre-Funded Warrants] in accordance with Section 2(d) hereof, at the Exercise Price in effect upon achievement of the Mandatory Exercise Event.
Mandatory Exercise. The Company may require the Holder to exercise the Warrants, if, after the Issuance Date, (i) the Common Stock closes above $1.25 per share on the Principal Market each Trading Day for 10 consecutive Trading Days (the “10 Day Period”) prior to the Termination Date, (ii) during the 10 Day Period, the average daily volume must exceed $75,000 and (iii) there is an effective registration statement covering the shares underlying this Warrant. The Company shall give the Holder 5 days written notice if the foregoing conditions are met, and the Holder shall have 10 days from the date of receipt of the notice to pay the Exercise Price on the Warrants in which case the Company shall issue and deliver to the Holder the shares of Common Stock in the time and manner required by this Warrant. Any Warrants not exercised prior to the end of such 10 day period will expire.
Mandatory Exercise i The Company shall have the right to require the Holder, upon the notice referred to in Section 2(f)(ii) to exercise (the “Mandatory Exercise”) the Warrant (subject to Section 2(e)) at the Exercise Price as follows; provided, that the Company shall only be permitted to exercise this option if there is an effective registration statement permitting the resale of the Warrant Shares by the Holder:
