Common use of Automatic Exercise upon Expiration Clause in Contracts

Automatic Exercise upon Expiration. In the event that, upon the Termination Date, the Per Share Market Value of one share of Common Stock (or other security issuable upon the exercise hereof) as determined in accordance with this Warrant above is greater than the Exercise Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to a Cashless Exercise as to all shares (or such other securities) for which this Warrant shall not previously have been exercised or converted, and the Company shall promptly deliver a certificate representing the shares (or such other securities) issued upon such exercise to the Holder.

Appears in 11 contracts

Samples: Common Stock Purchase Warrant (MetaStat, Inc.), Common Stock Purchase Warrant (MetaStat, Inc.), Common Stock Purchase Warrant (MetaStat, Inc.)

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Automatic Exercise upon Expiration. In the event that, upon the Termination DateExpiration Time, the Per Share Market Value fair market value of one share of Common Warrant Stock (or other security issuable upon the exercise hereof) as determined in accordance with this Warrant Section 2(c) above is greater than the Exercise Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to a Cashless Exercise Section 2 above as to all shares Warrant Stock (or such other securities) for which this Warrant it shall not previously have been exercised or converted, and the Company Corporation shall promptly deliver a certificate representing the shares Warrant Stock (or such other securities) issued upon such exercise conversion to the Holderholder.

Appears in 3 contracts

Samples: Warrant Agreement (Bioject Medical Technologies Inc), Warrant Agreement (Bioject Medical Technologies Inc), Warrant Agreement (Bioject Medical Technologies Inc)

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