Examples of Penalty Units in a sentence
At the applicable time, and in any event, no later than two business days after the Penalty Warrants and the Penalty Units becoming issuable, the Corporation shall provide the Special Warrant Agent with a written direction for the issuance of the Penalty Warrants and the Penalty Units.
Each Special Warrant is will entitle the holder thereof to receive, without payment of any further consideration, and subject to customary anti-dilution adjustments, one (1) unit of the Company (each an “Underlying Unit” and together with any Penalty Units (as defined below), the “Underlying Units”) in accordance with the terms and conditions of the Special Warrants, which are summarized in the term sheet attached to the Subscription Agreement (as defined below).
Once the Preliminary Qualification Prospectus has been filed, comply with section 57 of the Ontario Act and with any comparable provisions of the other Canadian Securities Laws, and the Corporation will prepare and file promptly any Supplementary Material which may be necessary and will otherwise comply with all legal requirements necessary to continue to permit the Units (and Penalty Units, if applicable) to be distributed in each of the Qualifying Jurisdictions as contemplated herein.
Each Special Warrant is exercisable, for no additional consideration, under and subject to the terms described herein, for one unit of the Company (each an “Underlying Unit” and together with any Penalty Units (as defined below) and any Compensation Option Units (as defined below), the “Underlying Units”).
Once the Preliminary Qualification Prospectus has been filed, the Corporation will use its commercially reasonable efforts to prepare and file promptly any Supplementary Material which may be necessary and otherwise comply with all legal requirements necessary to continue to permit the Units (and Penalty Units, if applicable) to be distributed in each of the Qualifying Jurisdictions as contemplated herein.