Common use of Beneficial Ownership Limitation Clause in Contracts

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 6 contracts

Samples: Warrant Agency Agreement (Nocera, Inc.), Warrant Agency Agreement (Nocera, Inc.), Warrant Agency Agreement (Harbor Custom Development, Inc.)

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Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that that, after giving effect to such issuance after the exercise as set forth on the applicable Notice of Exercise, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below)Limitation. For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.92(f), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderthereunder (except that a person or group shall be deemed to have beneficial ownership of shares of Voting Stock that such person or group has the right to acquire regardless of when such right is first exercisable), it being acknowledged by such Holder that the Holder does not have the right to acquire Warrant Shares in excess of the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Company each time it delivers a Notice of Exercise that such Notice of Exercise has not violated the restrictions set forth in this section. For purposes of this Section 3.3.92(f), in determining the number of outstanding Common shares of Voting Stock, a Holder may rely on the number of outstanding Common shares of Voting Stock as reflected stated in the most recent of the following: (Ai) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Company or (Ciii) a more recent written notice by the Company or the transfer agent Company’s Transfer Agent setting forth the number of Common shares of Voting Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days promptly confirm orally and in writing (including by e-mail) to the such Holder the number of Common votes represented by the Voting Stock then outstanding. In any case, the number total voting power of the outstanding Common shares of Voting Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such the Warrant, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common shares of Voting Stock was reported. The “Beneficial Ownership Limitation” shall be 4.9934.0% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the total number of Common votes represented by the Voting Stock outstanding immediately after giving effect to the issuance of Common Stock Warrant Shares otherwise issuable upon exercise of a Warrant. The Holder, upon notice pursuant to the Company, may increase or decrease the Beneficial Ownership Limitation provisions applicable Notice of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyExercise. The provisions of this paragraph section shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 2(f) to correct this paragraph section (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 6 contracts

Samples: Warrant Agreement (Supertel Hospitality Inc), Common Stock Purchase Warrant (Supertel Hospitality Inc), Common Stock Purchase Warrant (Supertel Hospitality Inc)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock) beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder thereunder provided that the Company is not representing Corporation makes no representation to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and that the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request (which may be via email) of a Holder, the Company Corporation shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrantsshares of Preferred Stock, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Preferred Stock held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 5 contracts

Samples: Underwriting Agreement (Achieve Life Sciences, Inc.), Underwriting Agreement (Achieve Life Sciences, Inc.), Underwriting Agreement (Achieve Life Sciences, Inc.)

Beneficial Ownership Limitation. The Except as provided in Section 3(c) of this Note, which shall apply as stated therein if an Automatic Conversion Event shall occur, the Company shall not effect any exercise conversion of this WarrantNote, and a the Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwise, this Note to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseconversion, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of 4.9% of the Beneficial Ownership Limitation (as defined below)number of shares of the Common Stock outstanding immediately after giving effect to such conversion. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties affiliates shall include the number of shares of Common Stock issuable upon conversion of the Note and upon exercise of such Warrant the Warrants issued upon conversion of this Note with respect to which such the determination of beneficial ownership is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (iA) exercise conversion of the remaining, non-exercised converted portion of such Warrant this Note beneficially owned by the Holder or any of its Affiliates or Attribution Parties affiliates, and (iiB) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)including warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except affiliates, so long as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) such other securities of the Securities Exchange Act of 1934, as amended Company are not exercisable nor convertible within sixty (60) days from the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy date of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.93(f), in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in the most recent of the following: (A) the Company’s most recent periodic quarterly reports, Form 10-Q, Form 10-QSB, Annual Reports, Form 10-K, or annual report filed with the CommissionForm 10-KSB, as the case may be; , as filed with the Commission under the Exchange Act (B) a more recent public announcement by the Company; Company or (C) a more recent any other written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a the Holder, the Company shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrantthe Note, by the Holder or its Affiliates or Attribution Parties affiliates since the date as of which such number of outstanding shares of Common Stock was reportedpublicly reported by the Company. The “Beneficial Ownership Limitation” ownership shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%calculated in accordance with Section 13(d) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a WarrantExchange Act. This Section 3(f) may be not be waived or amended. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of limitation set forth in this Section 3.3.9, provided that 3(f) is referred to as the Beneficial Ownership Limitation in no event exceeds 9.99“4.9% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantLimitation.

Appears in 4 contracts

Samples: Convertible Note Agreement (China Education Alliance Inc.), Convertible Subordinated Note (China Education Alliance Inc.), Convertible Note Agreement (China Education Alliance Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a A Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Warrants to the extent that after giving effect to such the issuance of Warrant ADSs after exercise as set forth on the applicable Notice of ExerciseElection to Purchase, the such Holder or a person holding through such Holder (together with the such Holder’s Affiliatesor person’s Affiliates (as defined in Rule 405 under the Securities Act), and any other Persons persons acting as a group together with the that Holder or person or any of the that Holder’s Affiliates (such Persons, “Attribution Parties”)or person’s Affiliates), would beneficially own in excess of the 4.99% (“Beneficial Ownership Limitation (as defined below)Limitation”) of the Company’s Ordinary Shares. For purposes of the foregoing sentence, the number of Common Stock Ordinary Shares beneficially owned by the Holder and its Affiliates and Attribution Parties a person shall include the number of Common Stock Ordinary Shares underlying the Warrant ADSs that would be owned by that person issuable upon exercise of such Warrant the Warrants with respect to which such determination is being made, but shall exclude the number of Common Stock Ordinary Shares (i) underlying the Warrant ADSs which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant Warrants beneficially owned by the Holder that person or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of underlying any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant held by such Holder or other instrument its Affiliates that is at any time are exercisable or convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Ordinary Shares and subject to a limitation on conversion or exercise that is analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesin this Section 3.3.10. Except as set forth in the preceding sentence, for purposes of this Section 3.3.93.3.10, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that neither the Warrant Agent nor the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder or beneficial owner is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 3.3.10 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise an Election to Purchase shall be deemed to be the Holder’s determination of whether a such Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable, in each case subject to and neither the Beneficial Ownership Limitation, and Warrant Agent nor the Company shall have no any obligation to verify or confirm the accuracy of such determinationdetermination and neither of them shall have any liability for any error made by the Holder or any other person. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.93.3.10, in determining the number of outstanding Common StockOrdinary Shares, a Holder or other person may rely on the number of outstanding Common Stock Ordinary Shares as reflected in (A) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of Common Stock Ordinary Shares outstanding. Upon For any reason at any time, upon the written or oral request of a person that represents that it is or is acting on behalf of a Holder, the Company shall shall, within two (2) Trading Days Days, confirm orally or in writing (including or by e-mail) mail to the Holder that person the number of Common Stock Ordinary Shares then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.99.99% as specified in such notice, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any any increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCompany and any such increase or decrease will apply only to the Holder and its Affiliates and not to any other holder of Warrants. The provisions of this paragraph Section 3.3.10 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 3.3.10 to correct this paragraph subsection (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 4 contracts

Samples: Warrant Agent Agreement (Immuron LTD), Warrant Agent Agreement (Immuron LTD), Warrant Agent Agreement (Cellect Biotechnology Ltd.)

Beneficial Ownership Limitation. The Company Except upon the occurrence and continuation of an Event of Default, the Borrower shall not effect affect any exercise of this Warrantconversion, and a Holder the Lender shall not have the right to exercise affect any portion of a Warrant, pursuant to Section 3 or otherwiseconversion, to the extent that after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion submitted by the Lender, the Holder Lender (together with the HolderLender’s Affiliates, Affiliates and any other Persons acting as a group together with the Holder Lender or any of the HolderLender’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined belowherein). For purposes To ensure compliance with this restriction, prior to delivery of any Notice of Conversion, the Lender shall have the right to request that the Borrower provide to the Lender a written statement of the foregoing sentence, percentage ownership of the number of Borrower’s Common Stock that would by beneficially owned by the Holder Lender and its Affiliates and Attribution Parties shall include in the number of Common Stock issuable upon exercise Borrower if the Lender converted such portion then intended to be converted by Lender. The Borrower shall, within two (2) Business Days of such Warrant request, provide Lender with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to requested information in a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holderwritten statement, and the submission of a Lender shall be entitled to rely on such written statement from the Borrower in issuing its Notice of Exercise shall be deemed to be Conversion and ensuring that its ownership of the HolderBorrower’s determination Common Stock is not in excess of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined The restriction described in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9may be waived by Lender, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected whole or in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstandingpart. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantconversion.

Appears in 4 contracts

Samples: Senior Secured Revolving Credit Facility Agreement, Senior Secured Revolving Credit Facility Agreement (Sunpeaks Ventures, Inc.), Senior Secured Revolving Credit Facility Agreement (Sunpeaks Ventures, Inc.)

Beneficial Ownership Limitation. The Company shall not be required to effect any exercise of this a Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s AffiliatesAffiliates (as defined below), and any other Persons persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Personspersons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time shares of Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, shares of Common Stock (“Common Share Stock Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) ), and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a Warrant. The Holder, upon written notice to the CompanyCompany and the Warrant Agent, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this a Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this a Warrant.

Appears in 4 contracts

Samples: Warrant Agent Agreement (Bone Biologics Corp), Warrant Agent Agreement (Bone Biologics Corp), Warrant Agent Agreement (Pasithea Therapeutics Corp.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a A Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Warrants to the extent that after giving effect to such the issuance of Warrant Shares after exercise as set forth on the applicable Notice of ExerciseElection to Purchase, the such Holder or a person holding through such Holder (together with the such Holder’s Affiliatesor person’s Affiliates (as defined in Rule 405 under the Act), and any other Persons persons acting as a group together with the that Holder or person or any of the that Holder’s Affiliates (such Persons, “Attribution Parties”)or person’s Affiliates), would beneficially own in excess of the 4.99% (“Beneficial Ownership Limitation (as defined below)Limitation”) of the Company’s Common Stock. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties a person shall include the number of Common Stock Warrant Shares that would be owned by that person issuable upon exercise of such Warrant the Warrants with respect to which such determination is being made, but shall exclude the number of shares of Common Stock (a) which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant Warrants beneficially owned by the Holder that person or any of its Affiliates or Attribution Parties and (iib) exercise or conversion of the unexercised or non-converted portion of underlying any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant held by such Holder or other instrument its Affiliates that is at any time are exercisable or convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) and subject to a limitation on conversion or exercise that is analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesin this Section 3.3.10. Except as set forth in the preceding sentence, for purposes of this Section 3.3.93.3.10, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that neither the Warrant Agent nor the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder or beneficial owner is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 3.3.10 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise an Election to Purchase shall be deemed to be the Holder’s determination of whether a such Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable, in each case subject to and neither the Beneficial Ownership Limitation, and Warrant Agent nor the Company shall have no any obligation to verify or confirm the accuracy of such determinationdetermination and neither of them shall have any liability for any error made by the Holder or any other person. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.93.3.10, in determining the number of outstanding shares of Common Stock, a Holder or other person may rely on the number of outstanding shares of Common Stock as reflected in (Aa) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (Bb) a more recent public announcement by the Company; Company or (Cc) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon For any reason at any time, upon the written or oral request of a person that represents that it is or is acting on behalf of a Holder, the Company shall shall, within two (2) Trading Days Days, confirm orally or in writing (including or by e-mail) mail to the Holder that person the number of shares of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.99.99% as specified in such notice, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any any increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCompany and any such increase or decrease will apply only to the Holder and its Affiliates and not to any other holder of Warrants. The provisions of this paragraph Section 3.3.10 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 3.3.10 to correct this paragraph subsection (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 4 contracts

Samples: Warrant Agreement (Advaxis, Inc.), Warrant Agreement (Advaxis, Inc.), Warrant Agent Agreement (Heat Biologics, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock Shares beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock Shares issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock Shares which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common StockShares, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock Shares (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.Section

Appears in 4 contracts

Samples: Warrant Agency Agreement (Pyxis Tankers Inc.), Warrant Agency Agreement (Pyxis Tankers Inc.), Warrant Agency Agreement (Pyxis Tankers Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a the Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s AffiliatesAffiliates (as such term is defined in Rule 405 promulgated under the Securities Act), and any other Persons persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Personspersons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time shares of Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, shares of Common Stock (“Common Share Stock Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.93.4, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) ), and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 3.4 applies, the determination of whether a this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.93.4, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission (the “Commission”), as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a the Holder, the Company shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.93.4, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 3.4 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 3.4 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 3 contracts

Samples: Warrant Agreement (ClearSign Technologies Corp), Warrant Agreement (HeartBeam, Inc.), Warrant Agreement (ClearSign Technologies Corp)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s 's Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), 's Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.95(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 5(e) applies, the determination of whether a Warrant the Series A Preferred is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion how many shares of a Warrant is exercisable Series A Preferred are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s 's determination of whether a Warrant is exercisable the shares of Series A Preferred may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and how many shares of which portion of a Warrant is exercisablethe Series A Preferred are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.95(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the Company’s Corporation's most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Series A Preferred, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The "Beneficial Ownership Limitation" shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantSeries A Preferred held by the applicable Holder. The A Holder, upon not less than 61 days' prior notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 5(e) applicable to its Series A Preferred provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Series A Preferred held by the Holder and the provisions of this Section 3.3.9 5(e) shall continue to apply. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 5(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantSeries A Preferred.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Asta Holdings, Corp.), Merger and Share Exchange Agreement (Asta Holdings, Corp.), Merger and Share Exchange Agreement (Asta Holdings, Corp.)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Preferred Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantapplicable Holder.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Artificial Intelligence Technology Solutions Inc.), Securities Purchase Agreement (Verde Bio Holdings, Inc.), Securities Purchase Agreement (Verde Bio Holdings, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any the exercise of this Warrant, and a the Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), affiliates) would beneficially own in excess of 4.99% (the Beneficial Ownership Limitation (as defined below)“Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties affiliates shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which the determination of such determination sentence is being made, but shall exclude the number shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised unexercised portion of such this Warrant beneficially owned by the Holder or any of and its Affiliates or Attribution Parties affiliates and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by the Holder and its affiliates (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, convertible notes or convertible preferred stock, right, option, warrant stock or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange 1934 Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9Warrant, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A1) the Company’s most recent periodic Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the Securities and Exchange Commission, as the case may be; , (B2) a more recent public announcement by the Company; Company or (C3) a more recent written any other notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding, in each case as of the date such report, announcement or notice speaks. Upon For any reason at any time, upon the written or oral request of a the Holder, the Company shall within two Trading Days one (1) Business Day confirm in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrantthe Warrants, by the Holder or and its Affiliates or Attribution Parties affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon By written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions Maximum Percentage to any other percentage not in excess of this Section 3.3.9, 9.99% specified in such notice; provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any (i) any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the Company, and (ii) any such increase or decrease will apply only to the Holder and not to any other holder of the Warrants. The provisions For the avoidance of this paragraph shall be construed and implemented doubt, to the extent the limitation set forth in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant1.1.

Appears in 3 contracts

Samples: Warrant to Purchase Common Stock (American Superconductor Corp /De/), Warrant Agreement (American Superconductor Corp /De/), Underwriting Agreement (American Superconductor Corp /De/)

Beneficial Ownership Limitation. The Company shall not effect conversion of any exercise of this WarrantPreferred Stock, and a the Holder shall not have the right to exercise nor enforce any portion of a Warrantsuch right, pursuant to this Section 3 or otherwise4, to the extent that after giving effect to the application of such issuance after exercise as set forth on the applicable Notice of Exerciserights, the Holder (together with the Holder’s Affiliates, and any other Persons persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)Affiliates), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Warrant application this Section 4 with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.94, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a the Holder, the Company shall within two Trading Days three trading days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such WarrantCompany (subject to any beneficial ownership limitations contained therein, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% %, (or, upon election by unless the Holder elects on its signature page hereto a Holder prior to the issuance of any Warrants, 9.99%different amount as its own Beneficial Ownership Limitation) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise application of a Warrantthis Section 4 which would not exceed at such time the Beneficial Ownership Limitation. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.94 (for the avoidance of doubt, provided that the Holder may on its signature page hereto to waive such Beneficial Ownership Limitation in no event exceeds 9.99% its entirety (which such waiver shall be effective 61 days’ after the Closing Date) or set a different amount as its own Beneficial Ownership Limitation) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise application of this Warrant held by Section 4 which would not exceed at such time the Holder Beneficial Ownership Limitation and the provisions of this Section 3.3.9 4 shall continue to apply. Any such decrease will be effective immediately and any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 4 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The In the event the limitations contained in this paragraph shall apply Section 4(c) would prevent the application of the Holder’s rights under Sections 4(a) or 4(b), then such Holder may exercise all such rights and comply with all obligations applicable thereto except that the delivery of Common Stock will be deferred until such time as such Holder provides notice to the Company that such Holder may receive or beneficially own such Common Stock which exceeds the Beneficial Ownership Limitation applicable to such Holder without exceeding such then applicable Beneficial Ownership Limitation. “Affiliate” means any person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a successor holder person, as such terms are used in and construed under Rule 405 under the Securities Act of this Warrant1933, as amended.

Appears in 3 contracts

Samples: Preferred Stock Conversion and Lockup Agreement (Drone Aviation Holding Corp.), Preferred Stock Conversion and Lockup Agreement (Drone Aviation Holding Corp.), Preferred Stock Conversion and Lockup Agreement (Drone Aviation Holding Corp.)

Beneficial Ownership Limitation. The Company shall not effect conversion of any exercise of this WarrantPreferred Stock or issue any Adjustment Shares, and a the Holder shall not have the right to exercise nor enforce any portion of a Warrantsuch right, pursuant to this Section 3 or otherwise4, to the extent that after giving effect to the application of such issuance after exercise as set forth on the applicable Notice of Exerciserights, the Holder (together with the Holder’s Affiliates, and any other Persons persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)Affiliates), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Warrant application this Section 4 with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.94, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a the Holder, the Company shall within two Trading Days three trading days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such WarrantCompany (subject to any beneficial ownership limitations contained therein, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% %, (or, upon election by unless the Holder elects on its signature page hereto a Holder prior to the issuance of any Warrants, 9.99%different amount as its own Beneficial Ownership Limitation) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise application of a Warrantthis Section 4 which would not exceed at such time the Beneficial Ownership Limitation. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.94 (for the avoidance of doubt, provided that the Holder may on its signature page hereto to waive such Beneficial Ownership Limitation in no event exceeds 9.99% its entirety (which such waiver shall be effective 61 days’ after the Closing Date) or set a different amount as its own Beneficial Ownership Limitation) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise application of this Warrant held by Section 4 which would not exceed at such time the Holder Beneficial Ownership Limitation and the provisions of this Section 3.3.9 4 shall continue to apply. Any such decrease will be effective immediately and any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 4 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The In the event the limitations contained in this paragraph shall apply Section 4(e) would prevent the application of the Holder’s rights under Sections 4(a), 4(b) or 4(c), then such Holder may exercise all such rights and comply with all obligations applicable thereto except that the delivery of Common Stock will be deferred until such time as such Holder provides notice to the Company that such Holder may receive or beneficially own such Common Stock which exceeds the Beneficial Ownership Limitation applicable to such Holder without exceeding such then applicable Beneficial Ownership Limitation. “Affiliate” means any person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a successor holder person, as such terms are used in and construed under Rule 405 under the Securities Act of this Warrant1933, as amended.

Appears in 3 contracts

Samples: Preferred Stock Conversion Agreement (Drone Aviation Holding Corp.), Preferred Stock Conversion Agreement (Drone Aviation Holding Corp.), Preferred Stock Conversion Agreement (Drone Aviation Holding Corp.)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock) beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request (which may be via email) of a Holder, the Company Corporation shall within two one Trading Days Day confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrantsshares of Preferred Stock, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Preferred Stock held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 2 contracts

Samples: Subscription Agreement (Denali SPAC Holdco, Inc.), Subscription Agreement (Denali Capital Acquisition Corp.)

Beneficial Ownership Limitation. The Company shall not effect affect any exercise of this a Public Warrant, and a Holder shall not have the right to exercise any portion of a Public Warrant, pursuant to this Section 3 4 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of ExerciseElection to Purchase, the Holder (together with the Holder’s Affiliates, and any other Persons persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Personspersons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Public Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Public Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company or its subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant warrant, or other instrument instruments that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Stock Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94.3.10, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 4.3.10 applies, the determination of whether a Public Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Public Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Public Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Public Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.94.3.10, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (B) a more recent public announcement by the Company; , or (C) a more recent written notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two one Trading Days Day confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Public Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Public Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a Public Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.94.3.10, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Public Warrant held by the Holder and the provisions of this Section 3.3.9 4.3.10 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 4.3.10 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Public Warrant.

Appears in 2 contracts

Samples: Warrant Agent Agreement (CW Petroleum Corp), Warrant Agent Agreement (CW Petroleum Corp)

Beneficial Ownership Limitation. The Company shall not effect any exercise or conversion of this Warrantany Company security, and a Holder the Purchaser shall not have the right to exercise or convert any portion of a Warrant, pursuant to Section 3 or otherwiseany Company security, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseor conversion, the Holder Purchaser (together with the HolderPurchaser’s Affiliatesaffiliates, and any other Persons persons acting as a group together with the Holder Purchaser or any of the HolderPurchaser’s Affiliates affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below); provided, that the Beneficial Ownership Limitation shall not apply in the event that the Company obtains stockholder approval for issuances of shares of Common Stock in excess of the Beneficial Ownership Limitation and otherwise satisfies the requirements of Nasdaq Stock Market Rule 5635. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates Purchaser and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise or conversion of such Warrant the Company security with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise or conversion of the remaining, non-exercised nonexercised or nonconverted portion of the Company security to which such Warrant determination is being made that is beneficially owned by the Holder Purchaser or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder Purchaser or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder Purchaser that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder Purchaser is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96, in determining the number of outstanding shares of Common Stock, a Holder the Purchaser may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the U.S. Securities and Exchange Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holderthe Purchaser, the Company shall within two Trading Days trading days confirm orally and in writing (including by e-mail) to the Holder Purchaser the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, Company by the Holder Purchaser or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.9919.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantoutstanding.

Appears in 2 contracts

Samples: Security Purchase Agreement (Amyris, Inc.), Security Purchase Agreement (Amyris, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary set forth in the Certificate of Designation, the Company shall not effect any exercise redesignation of this Warrantthe Series B Preferred Stock, and a Holder the Purchaser shall not have the right to exercise redesignate any portion of a Warrant, pursuant to Section 3 or otherwiseits Series B Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as an attempted redesignation set forth on the an applicable Notice of ExerciseConversion (as defined in the Certificate of Designation) with respect to the Series B Preferred Stock, the Holder such Purchaser (together with the Holder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder Purchaser’s for purposes of Section 13(d) or any Section 16 of the Holder’s Affiliates (such PersonsExchange Act and the applicable rules and regulations of the Commission, including any Attribution Parties”)), group” of which the Purchaser is a member) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties such Purchaser shall include the number of shares of Common Stock issuable upon exercise created by the consolidation and redesignation of such Warrant the Series B Preferred Stock subject to the Notice of Conversion with respect to which the determination of such determination sentence is being made, but shall exclude the number of shares of Common Stock which would be are creatable or issuable upon (i) exercise redesignation of the remaining, non-exercised portion of such Warrant unconverted Series B Preferred Stock beneficially owned by the Holder or any of its Affiliates or Attribution Parties such Purchaser, and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by such Purchaser (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stockconvertible notes, including, without limitation, any debt, preferred stock, right, option, warrant convertible stock or other instrument warrants) that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94.11, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the applicable rules and regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the applicable rules and regulations promulgated thereunderof the Commission. For purposes of this Section 3.3.94.11, in determining the number of outstanding shares of Common Stock, a Holder Purchaser may rely on the number of outstanding shares of Common Stock as reflected in (Ai) the Company’s most recent periodic Form 10-K, Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Company or (Ciii) a more recent written notice by the Company or the transfer agent setting forth the number of shares of Common Stock then outstanding. Upon For any reason at any time, upon the written or oral request of a HolderPurchaser (which may be by email), the Company shall shall, within two Trading (2) Business Days of such request, confirm orally and in writing to such Purchaser (including which may be by e-mailemail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.after

Appears in 2 contracts

Samples: Securities Purchase Agreement (Viridian Therapeutics, Inc.\DE), Securities Purchase Agreement (Viridian Therapeutics, Inc.\DE)

Beneficial Ownership Limitation. The Company Notwithstanding anything herein to the contrary, the Corporation shall not effect any exercise conversion of this Warrantthe Series B Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series B Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as an attempted conversion set forth on the an applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder or any of the Holder’s Affiliates for purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable regulations of the Commission, including any “group” of which the Holder is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series B Preferred Stock subject to the Notice of Conversion with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series B Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties Parties, and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company Corporation (including, without limitation, including any other securities warrants) beneficially owned by such Holder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.96(c), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and applicable regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.96(c), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the CompanyCorporation’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Corporation that is filed with the Commission, or (C) a more recent written notice by the Company Corporation or the Corporation’s transfer agent to the Holder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderHolder (which may be by email), the Company shall Corporation shall, within two three (3) Trading Days thereof, confirm in writing to such Holder (including by e-mailwhich may be via email) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the CompanyCorporation, including such Warrantshares of Series B Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise pursuant to such Notice of a Warrant. The HolderConversion (to the extent permitted pursuant to this Section 6(c)); provided, upon however, that by written notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation which will not be effective until the 61st day after such notice is delivered to the Company. The Corporation, the Holder may waive or amend the provisions of this paragraph shall be construed Section 6(c) to change the Beneficial Ownership Limitation to any other number less than or equal to 19.99%, and implemented in a manner otherwise than in strict conformity with the terms provisions of this Section 3.3.9 6(c) shall continue to correct this paragraph (or apply. The Corporation shall be entitled to rely on representations made to it by the Holder in any portion hereof) which may be defective or inconsistent with the intended Notice of Conversion regarding its Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantLimitation.

Appears in 2 contracts

Samples: Securities Exchange Agreement (Oncothyreon Inc.), Underwriting Agreement (Oncothyreon Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise In implementation of this Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise4.18, to the extent that after giving effect to such an issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as Additional Shares would result in a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder Purchaser or any of its Affiliates or Attribution Party’s (as defined in the Warrant) beneficially owning in excess of 4.99% (the “Maximum Percentage”) of the Common Stock, then the Company shall initially issue only such number of Additional Shares that would result in such Purchaser (together with such Purchaser’s Attribution Parties) beneficially owning the Maximum Percentage of the Common Stock, and, except as otherwise provided below, no other Additional Shares shall be issuable under this Section 4.18 but instead held in abeyance pursuant to this Section 4.18. After such initial issuance, and until all Additional Shares which otherwise would have been issued under this Section 4.18 have been issued, from time to time the Company will issue such number of such unissued Additional Shares so that such Purchaser (together such Purchaser’s Attribution Parties) will beneficially own only the Maximum Percentage of the Common Stock. Such Purchaser shall make written representations and warranties to the Company regarding its (together with its Attribution Parties) beneficial ownership to effectuate the foregoing. The Maximum Percentage limitation contained in this paragraph and the limitation on exercise contained in Section 4.19(b) and Section 2(e) of the Warrants issued to such Purchaser pursuant to this Agreement shall be coordinated so that the aggregate beneficial ownership of such Purchaser (together with its Attribution Parties and (iias defined in the Warrant) exercise or conversion of does not exceed the unexercised or non-converted portion Maximum Percentage limitation. In connection therewith, issuances pursuant to this Section 4.18 shall take precedence over issuances of any other securities Warrant Shares issuable to such Purchaser. The provisions of this paragraph shall be implemented in a manner otherwise than in strict conformity with the Company terms this paragraph to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Maximum Percentage beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such Maximum Percentage limitation. The limitations contained in this paragraph shall apply to assignees of such Purchaser hereunder. For the purposes of this paragraph, beneficial ownership and all determinations and calculations (including, without limitation, any other securities with respect to calculations of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)percentage ownership) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Premier Biomedical Inc), Securities Purchase Agreement (Premier Biomedical Inc)

Beneficial Ownership Limitation. The Company shall not effect Notwithstanding anything to the contrary contained herein, the number of Conversion Shares and Warrant Shares that may be acquired by the Buyer upon any conversion of the Convertible Note or exercise of this Warrant, and a Holder the Warrants (or otherwise in respect hereof) shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, be limited to the extent that after giving effect necessary to ensure that, following such issuance after conversion or exercise as set forth on the applicable Notice of Exercise(or other issuance), the Holder (together with total number of Common Shares then beneficially owned by the Holder’s Affiliates, Buyer and its Affiliates and any other Persons acting as a group together whose beneficial ownership of Common Shares would be aggregated with the Holder or any of the HolderBuyer’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange 1934 Act”) and the rules and regulations promulgated thereunder), it being acknowledged by the Holder that the Company is does not representing to the Holder that such calculation is in compliance with Section 13(d) exceed 4.99% of the Exchange Act total number of then issued and outstanding Common Shares (including for such purpose the Holder is solely responsible for any schedules required to be filed in accordance therewithCommon Shares issuable upon such conversion or exercise). To the extent that the limitation contained in this Section 3.3.9 1(f) applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, Common Shares and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is Share are exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination under this Section 1(f) as to any group status as contemplated above shall be determined by the Buyer in accordance with Section 13(d) of the Exchange 1934 Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.91(f), in determining the number of outstanding shares of Common Stock, a Holder the Buyer may rely on the number of outstanding Common Stock Shares as reflected in (Ax) the Company’s most recent periodic Form 10-Q or annual report filed with the CommissionForm 10-K, as the case may be; , (By) a more recent public announcement by the Company; Company that contains such number of Common Shares or (Cz) a more recent written any other notice by the Company or the transfer agent Transfer Agent setting forth the number of Common Stock Shares outstanding. Upon the written request of a Holderthe Buyer, the Company shall within two three (3) Trading Days confirm orally and in writing (including by e-mail) to the Holder such Buyer the number of Common Stock Shares then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect By written notice to the conversion or exercise of securities of the Company, including which will not be effective until the sixty-first (61st) day after such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior notice is delivered to the issuance Company, the Buyer may waive the provisions of any Warrants, 9.99%this Section 1(f) to change the beneficial ownership limitation to such percentage of the number of Common Stock Shares outstanding immediately after giving effect to the issuance of Common Stock issuable Shares upon conversion of the Convertible Note and the exercise of a Warrant. The Holderthe Warrants as the Buyer shall determine, upon notice to the Companyin its sole discretion, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 1(f) shall continue to apply. Any increase in Upon such a change by a Buyer of the Beneficial Ownership Limitation will beneficial ownership limitation from such 4.99% limitation to such other percentage limitation, the beneficial ownership limitation may not be effective until further waived by such Buyer without first providing the 61st day after such minimum notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of required by this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant1(f).

Appears in 2 contracts

Samples: Securities Purchase Agreement (Lm Funding America, Inc.), Securities Purchase Agreement (Lm Funding America, Inc.)

Beneficial Ownership Limitation. The (a) No Purchaser shall request that a Note held by it be converted, and the Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion conversion of a Warrant, pursuant to Section 3 or otherwise, Note to the extent that that, after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseconversion, the Holder Purchaser (together with the HolderPurchaser’s Affiliates, Affiliates and any other Persons person or entity acting as a group together with the Holder Purchaser or any of the HolderPurchaser’s Affiliates (such Personscollectively, the Attribution Concert Parties”)), would beneficially own ADSs or Ordinary Shares in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock ADSs or Ordinary Shares beneficially owned by the Holder a Purchaser and its Affiliates and Attribution Concert Parties shall include the number of Common Stock Ordinary Shares issuable upon exercise conversion of such Warrant the portion of the Note with respect to which such determination is being made, but shall exclude the number of Common Stock Ordinary Shares which would be issuable upon (i) exercise conversion of the remaining, non-exercised remaining portion of such Warrant the Note beneficially owned by the Holder or any of its Affiliates or Attribution Parties Purchaser and (ii) conversion or exercise or conversion of the unexercised or non-converted unconverted portion of any other loan to or securities of the Company (including, without limitation, or any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)successor thereto) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder Purchaser or any of its Affiliates or Attribution Concert Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.95.2, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder Purchaser that the Company is not representing to the Holder Purchaser that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder Purchaser is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 5.2 applies, the determination of whether and the extent to which a Warrant is exercisable Note may be converted (in relation to other loans or securities owned by the Holder a Purchaser together with any Affiliates and Attribution PartiesAffiliates) and of which portion of a Warrant is exercisable shall be made in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned good faith by the Holder together Purchaser holding such Note in consultation with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determinationits own counsel. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.95.2, in determining the number of outstanding Common StockOrdinary Shares (including Ordinary Shares represented by ADSs), a Holder Purchaser may rely on the number of outstanding Common Stock Ordinary Shares (including Ordinary Shares represented by ADSs) as reflected in (Ax) the Company’s (or its successor’s) most recent periodic or annual report filed with the Commissionreport, as the case may be; , filed with the SEC, (By) a more recent public announcement by the Company; Company (or its successor) or (Cz) a more recent written any other notice by the Company or the transfer agent Depositary (or its successor or successor’s depositary) setting forth the number of Common Stock Ordinary Shares (including Ordinary Shares represented by ADSs) outstanding. Upon the written or oral request of a Holderany Purchaser, the Company shall within two Trading Days business days confirm orally and in writing (including by e-mail) to the Holder Purchaser the number of Common Stock Ordinary Shares (including Ordinary Shares represented by ADSs) then outstanding. In any case, the number of Ordinary Shares (including Ordinary Shares represented by ADSs) outstanding Common Stock shall be determined after giving effect to the conversion or exercise of loans or securities of the Company, including such Warrantthe Notes, by the Holder applicable Purchaser or its Affiliates or Attribution Concert Parties since the date as of which such number of outstanding Common Stock Ordinary Shares (including Ordinary Shares represented by ADSs) was reported. The “Beneficial Ownership Limitation” shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock Ordinary Shares (including Ordinary Shares represented by ADSs) outstanding immediately after giving effect to the issuance of Common Stock the Conversion Shares issuable upon exercise conversion of a Warrantthe applicable Note. The HolderPurchaser, upon not less than 61 days’ prior notice to the Company, may increase or decrease (including, for the avoidance of doubt, to 0%) the percentage constituting the Beneficial Ownership Limitation provisions of this Section 3.3.9Limitation, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 5.2 shall continue to applyapply to such increased or decreased Beneficial Ownership Limitation. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph Section 5.2 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 hereof in order to correct this paragraph such terms (or any portion hereofthereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph Section 5.2 shall apply to a any successor holder to Purchaser. (b) Notwithstanding the foregoing, the limitations contained in this Section 5.2 shall not restrict or limit any conversion or prepayment of this Warrantthe Notes in connection with an Organic Change as contemplated by and defined in the Note.

Appears in 2 contracts

Samples: Convertible Note Agreement (Sequans Communications), Convertible Note Agreement (Sequans Communications)

Beneficial Ownership Limitation. The Company Notwithstanding anything herein to the contrary, the Corporation shall not effect any exercise conversion of this Warrantthe Series Y Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series Y Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as an attempted conversion set forth on the an applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder or any of the Holder’s Affiliates for purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable regulations of the Commission, including any “group” of which the Holder is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series Y Preferred Stock subject to the Notice of Conversion with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series Y Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties Parties, and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company Corporation (including, without limitation, including any other securities warrants) beneficially owned by such Holder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.96(c), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and applicable regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.96(c), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the CompanyCorporation’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Corporation that is filed with the Commission, or (C) a more recent written notice by the Company Corporation or the Corporation’s transfer agent to the Holder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderHolder (which may be by email with confirmation), the Company shall Corporation shall, within two three (3) Trading Days thereof, confirm in writing to such Holder (including by e-mailwhich may be via email) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the CompanyCorporation, including such Warrantshares of Series Y Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall be 4.9919.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise pursuant to such Notice of Conversion (to the extent permitted pursuant to this Section 6(c)), provided that a Warrant. The HolderHolder may, upon providing written notice to the CompanyCorporation, may elect to increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9(not to exceed the limits under Nasdaq Marketplace Rule 5635(b), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance extent then applicable), with any increase to be effective only after 61 days from delivery of Common Stock upon exercise of this Warrant held such notice to the Corporation. The Corporation shall be entitled to rely on representations made to it by the Holder and the provisions in any Notice of this Section 3.3.9 shall continue to apply. Any increase in the Conversion regarding its Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantLimitation.

Appears in 2 contracts

Samples: Investment Agreement (Biotechnology Value Fund L P), Investment Agreement (XOMA Corp)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a A Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Warrants to the extent that after giving effect to such the issuance of Warrant Shares after exercise as set forth on the applicable Notice of ExerciseElection to Purchase, the such Holder or a person holding through such Holder (together with the such Holder’s Affiliatesor person’s Affiliates (as defined in Rule 405 under the Securities Act), and any other Persons persons acting as a group together with the that Holder or person or any of the that Holder’s Affiliates (such Persons, “Attribution Parties”)or person’s Affiliates), would beneficially own in excess of the 4.99% (“Beneficial Ownership Limitation (as defined below)Limitation”) of the Company’s Common Stock. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties a person shall include the number of Common Stock Warrant Shares that would be owned by that person issuable upon exercise of such Warrant the Warrants with respect to which such determination is being made, but shall exclude the number of shares of Common Stock (a) which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant Warrants beneficially owned by the Holder that person or any of its Affiliates or Attribution Parties and (iib) exercise or conversion of the unexercised or non-converted portion of underlying any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant held by such Holder or other instrument its Affiliates that is at any time are exercisable or convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) and subject to a limitation on conversion or exercise that is analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesin this Section 3.3.9. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that neither the Warrant Agent nor the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder or beneficial owner is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise an Election to Purchase shall be deemed to be the Holder’s determination of whether a such Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable, in each case subject to and neither the Beneficial Ownership Limitation, and Warrant Agent nor the Company shall have no any obligation to verify or confirm the accuracy of such determinationdetermination and neither of them shall have any liability for any error made by the Holder or any other person. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding shares of Common Stock, a Holder or other person may rely on the number of outstanding shares of Common Stock as reflected in (Aa) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (Bb) a more recent public announcement by the Company; Company or (Cc) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon For any reason at any time, upon the written or oral request of a person that represents that it is or is acting on behalf of a Holder, the Company shall shall, within two (2) Trading Days Days, confirm orally or in writing (including or by e-mail) mail to the Holder that person the number of shares of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9to any other percentage as specified in such notice, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any any increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCompany and any such increase or decrease will apply only to the Holder and its Affiliates and not to any other holder of Warrants. The provisions of this paragraph Section 3.3.9 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph subsection (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 2 contracts

Samples: Warrant Agent Agreement (AMERI Holdings, Inc.), Amendment Agreement (AMERI Holdings, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise Notwithstanding anything to the contrary in this Indenture or the Notes, but subject to the last two paragraphs of this WarrantSection 5.09, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number no shares of Common Stock beneficially owned will be issued or delivered upon conversion of any Note, and no Note will be convertible by the Holder thereof, in each case to the extent, and its Affiliates and Attribution Parties shall include only to the number of Common Stock issuable upon exercise of extent, that such Warrant with respect to which issuance, delivery, conversion or convertibility would result in such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable forHolder, or otherwise entitles a “person” or “group” (within the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any meaning of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d13(d)(3) of the Exchange Act and Act) that includes such Holder, beneficially owning in excess of 9.9% of the Holder is solely responsible for any schedules required to be filed in accordance therewith. To then-outstanding shares of Common Stock (the extent that the limitation contained restrictions set forth in this Section 3.3.9 appliessentence, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation”). For these purposes, beneficial ownership and the Company shall have no obligation to verify or confirm the accuracy calculations of such determination. In addition, a determination as to any group status as contemplated above shall percentage ownership will be determined in accordance with Section 13(d) of Rule 13d-3 under the Exchange Act and the rules and regulations promulgated thereunderAct. For purposes the avoidance of doubt, the limitations on the convertibility of any Note pursuant to this Section 3.3.95.09 will not, in determining themselves, cause such Note to cease to be outstanding (and interest will continue to accrue on any portion of a Note that has been tendered for conversion and whose convertibility is suspended pursuant to this Section 5.09), and such limitations will cease to apply if and when such Note’s convertibility and conversion will not violate this Section 5.09. For the number avoidance of outstanding Common Stockdoubt, a Holder may rely on the number of outstanding Common Stock as reflected nothing in (A) this Section 5.09 will affect the Company’s most recent periodic or annual report filed ability to elect any Settlement Method in accordance with this Indenture. If any Conversion Consideration otherwise due upon the Commissionconversion of any Note is not delivered as a result of the Ownership Limitation, as the case may be; (B) a more recent public announcement by then the Company; or (C) a more recent written notice by ’s obligation to deliver such Conversion Consideration will not be extinguished, and the Company or will deliver such Conversion Consideration as soon as reasonably practicable after the transfer agent setting forth Holder of such Note provides written confirmation to the number Company that such delivery will not contravene the Ownership Limitation. Any purported delivery of shares of Common Stock outstanding. Upon upon conversion of any Note will be void and have no effect to the extent, and only to the extent, that such delivery would contravene the Ownership Limitation; provided that each beneficial owner shall have the right at any time and from time to time to (i) reduce the Ownership Limitation applicable to such beneficial owner immediately upon prior written request of a Holder, notice to the Company shall within two Trading Days confirm (provided that, for the avoidance of doubt, in writing (including by e-mail) to the Holder the number such event, such beneficial owner may sell shares of Common Stock then outstanding. In any case, or Notes to reduce the aggregate number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number shares of Common Stock outstanding immediately after giving effect deemed beneficially owned by such beneficial owner to a level below the reduced Ownership Limitation, in which case, subject to the issuance terms of Common Stock issuable this Indenture, the Notes will be convertible by such beneficial owner up to (but will not exceed) the reduced Ownership Limitation) or (ii) increase the Ownership Limitation applicable to such beneficial owner upon exercise of a Warrant. The Holder, upon 61 days’ prior written notice to the Company; provided further that no notice period pursuant to sub-clause (ii) above will be required where the Company has sent a Redemption Notice or on or after August 31, may increase or decrease 2031. The satisfaction, by a Holder of any Note, of the Beneficial requirements set forth in Section 5.02(A) to convert such Note will be deemed to be a representation, by such Holder to the Company, that the settlement of such conversion in full (assuming Physical Settlement), and without regard to this Section 5.09, will not contravene the Ownership Limitation. Upon the occurrence of a Common Stock Change Event, (i) the Ownership Limitation provisions of and this Section 3.3.95.09 will thereafter apply as if each reference to “Common Stock” in this Section 5.09 were instead a reference to the common equity (including depositary receipts representing common equity), provided that if any, forming part of the Beneficial Reference Property of such Common Stock Change Event; and (ii) if such Reference Property includes no such common equity or depositary receipts, then the Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue 5.09 will thereafter cease to apply. Any increase in Notwithstanding anything to the Beneficial contrary herein, no Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantany Notes held or beneficially owned by any Permitted Party unless and until such Permitted Party provides written notice to the Company specifying that the Ownership Limitation shall apply to such Permitted Party (and specifying the amount thereof).

Appears in 2 contracts

Samples: Indenture (Oscar Health, Inc.), Investment Agreement (Oscar Health, Inc.)

Beneficial Ownership Limitation. The Notwithstanding any other provision if this Subscription Agreement to the contrary, the Company shall not give effect to any exercise of this WarrantOptional Subscription, and a Holder the undersigned shall not have the no right to exercise make any portion of a Warrant, pursuant to Section 3 or otherwiseOptional Subscription, to the extent that after giving effect to the issuance of Optional Shares pursuant to such issuance after exercise Optional Subscription as set forth on the applicable Notice of ExerciseElection Notice, the Holder undersigned (together with the Holderundersigned’s affiliates (within the meaning of Rule 144(a) under the Securities Act) (“Affiliates, ”) and any other Persons acting as a group together persons whose beneficial ownership of the Company’s common stock would be aggregated with the Holder or any undersigned’s for purposes of Section 13(d) of the Holder’s Affiliates Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations promulgated thereunder, including any “group” of which the undersigned is a member (such Personspersons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holdercalculated, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group “group” status as contemplated above shall be determined made, in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in In determining the number of outstanding shares of Common Stock, a Holder the undersigned may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the CommissionSEC, as the case may be; (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the its transfer agent setting forth the number of Common Stock outstanding. Upon agent; and upon the written or oral request of a Holderthe undersigned, the Company shall within two Trading Days business days confirm orally and in writing (including by e-mail) to the Holder undersigned the number of shares of Common Stock then outstanding. In any caseFor purposes of this paragraph, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99means 9.9% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of Common Stock Optional Shares issuable upon exercise of a Warrantpursuant to the relevant Optional Subscription. The Holderundersigned, upon written notice to and the written consent of the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9Limitation; provided, provided however, that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) calendar day after such notice written consent is delivered to provided by the Company. The provisions of this paragraph shall be construed and implemented in a such manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements as is necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantthe Beneficial Ownership Limitation.

Appears in 2 contracts

Samples: Subscription Agreement (Broadmark Realty Capital Inc.), Subscription Agreement (Trinity Sub Inc.)

Beneficial Ownership Limitation. The Company Notwithstanding anything herein to the contrary, in no event shall not effect any exercise of this Warrant, and a the Holder shall not have the right be entitled to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own this Warrant in excess of that portion of this Warrant upon exercise of which the Beneficial Ownership Limitation sum of (as defined below). For purposes of the foregoing sentence, 1) the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number (other than shares of Common Stock which would may be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant deemed beneficially owned by through the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion ownership of the unexercised portion of this Warrant or non-converted the unexercised or unconverted portion of any other securities security of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Holder subject to a limitation on conversion or exercise analogous to the limitation limitations contained herein beneficially owned herein) and (2) the number of shares of Common Stock issuable upon the exercise of the portion of this Warrant with respect to which the determination of this proviso is being made, would result in beneficial ownership by the Holder or any of and its Affiliates of any amount greater than 9.99% of the then outstanding shares of Common Stock (whether or Attribution Partiesnot, at the time of such exercise, the Holder and its Affiliates beneficially own more than 9.99% of the then outstanding shares of Common Stock). Except As used herein, the term “Affiliate” means any person or entity that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a person or entity, as set forth such terms are used in and construed under Rule 144 under the Securities Act of 1933, as amended. For purposes of the second preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) amended, and the rules and regulations promulgated Regulations 13D-G thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is except as otherwise provided in compliance with Section 13(dclause (1) of the Exchange Act and the Holder is solely responsible for such sentence. For any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 appliesreason at any time, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion upon written or oral request of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days one (1) business day confirm orally and in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number shares of Common Stock outstanding immediately after giving effect to the issuance as of Common Stock issuable upon exercise of a Warrantany given date. The Holder, limitations set forth herein may be waived by the Holder upon provision of no less than sixty-one (61) days prior written notice to the Company; provided, may increase or decrease the Beneficial Ownership Limitation provisions however, that, such written notice of this Section 3.3.9waiver shall only be effective if delivered at a time when no indebtedness (including, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% without limitation, principal, interest, fees and charges) of the number Company of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by which the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective of its Affiliates was, at any time, the owner, directly or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantindirectly is outstanding.

Appears in 2 contracts

Samples: Warrant Agreement (Pedevco Corp), Warrant Agreement (Pedevco Corp)

Beneficial Ownership Limitation. The Company A Holder may notify the Corporation in writing in the event it elects to be subject to the provisions contained in this Section 6(d); however, no Holder shall be subject to this Section 6(d) unless he, she or it makes such election. If the election is made, (i) the Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a such Holder shall not have the right to exercise convert all or any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of 4.9%, 9.9%, 19.9% of the Corporation’s Common Stock (or such other amount as a Holder may specify) (the “Beneficial Ownership Limitation Limitation”) and (as defined below)ii) the Corporation shall not permit the Holder to vote, and such Holder shall not have the right vote pursuant to Section 4(b) of this Certificate of Designation, all or any portion of the Preferred Stock that such Holder is not permitted to convert pursuant to the preceding clause (i) (provided, however, that such Holder shall retain the right to vote pursuant to Section 4(c) of this Certificate of Designation to the extent that retaining such right does not cause such Holder to be deemed to beneficially own Conversion Shares within the meaning of Rule 13d-3 promulgated under the Exchange Act. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Accrued Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. The Holder shall provide the Corporation with any information reasonably requested by the Corporation in connection with this Beneficial Ownership Limitation and the provisions related thereto, in each case with respect to the Corporation's reporting obligations pursuant to the Securities Act, the Exchange Act, or other federal or state securities regulations. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request (which may be via email) of a Holder, the Company Corporation shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon By written notice to the CompanyCorporation, a Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9applicable to such Holder, provided provided, however, that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCorporation. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder Holder of this WarrantPreferred Stock.

Appears in 2 contracts

Samples: Business Combination Agreement (Inflection Point Acquisition Corp. II), Securities Purchase Agreement (Inflection Point Acquisition Corp. II)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this a Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s AffiliatesAffiliates (as defined below), and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock Shares beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock Shares issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock Shares which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common StockShares , including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock Shares (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common StockShares , a Holder may rely on the number of outstanding Common Stock Shares as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the transfer agent Transfer Agent setting forth the number of Common Stock Shares outstanding. Upon the written or oral request of a Holder, the Company shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the Holder the number of Common Stock Shares then outstanding. In any case, the number of outstanding Common Stock Shares shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock Shares was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock Shares outstanding immediately after giving effect to the issuance of Common Stock Shares issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock Shares outstanding immediately after giving effect to the issuance of Common Stock Shares upon exercise of this the Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this a Warrant.

Appears in 2 contracts

Samples: Warrant Agent Agreement (Foremost Lithium Resource & Technology Ltd.), Warrant Agent Agreement (Odd Burger Corp)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons person or entity acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(c), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(c) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(c), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the CompanyCorporation’s most recent periodic or annual report filed filing with the Securitites and Exchange Commission, as the case may be; , (B) a more recent public announcement by the Company; Corporation or (C) a more recent written notice by the Company Corporation or the Corporation’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect 6(c) applicable to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to applyits Preferred Stock. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the CompanyCompany and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(c) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 2 contracts

Samples: Securities Purchase Agreement (NewCardio, Inc.), Share Exchange Agreement (NewCardio, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliatesaffiliates, and any other Persons person or entity acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)affiliates), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties affiliates shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (iA) exercise of the remaining, non-exercised nonexercised portion of such this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties affiliates and (iiB) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”equivalents)) , subject to a limitation on conversion or exercise analogous to the limitation contained herein herein, beneficially owned by the Holder or any of its Affiliates or Attribution Partiesaffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.92.4, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 2.4 applies, the determination of whether a this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Partiesaffiliates) and of which portion of a this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise an Election to Purchase Shares (in the form attached hereto as Exhibit ‘A’) shall be deemed to be the Holder’s determination of whether a this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Partiesaffiliates) and of which portion of a this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days trading days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such this Warrant, by the Holder or its Affiliates or Attribution Parties affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.999.9% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a this Warrant. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held 2.4 by an amount determined by the Holder and the provisions of this Section 3.3.9 shall continue to applyin its sole discretion. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph Section 2.4 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 2.4 as may be necessary to correct this paragraph (or any portion hereof) hereof which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph Section 2.4 shall apply to a successor holder of this Warrant.

Appears in 2 contracts

Samples: Warrant Agreement (General Cannabis Corp), Securities Exchange Agreement (General Cannabis Corp)

Beneficial Ownership Limitation. The Company shall not effect any exercise In implementation of this Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise4.13, to the extent that after giving effect to such an issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as Additional Shares would result in a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder Purchaser or any of its Affiliates or Attribution Party’s (as defined in the Warrant) beneficially owning in excess of 4.99% (or, upon election by a Purchaser prior to the issuance of any Securities, up to 9.99%) (the “Maximum Percentage”) of the Common Stock, then the Company shall initially issue only such number of Additional Shares that would result in such Purchaser (together with such Purchaser’s Attribution Parties) beneficially owning the Maximum Percentage of the Common Stock, and, except as otherwise provided below, no other Additional Shares shall be issuable under this Section 4.13 but instead held in abeyance pursuant to this Section 4.13. After such initial issuance, and until all Additional Shares which otherwise would have been issued under this Section 4.13 have been issued, from time to time the Company will issue such number of such unissued Additional Shares so that such Purchaser (together such Purchaser’s Attribution Parties) will beneficially own only the Maximum Percentage of the Common Stock. Such Purchaser shall make written representations and warranties to the Company regarding its (together with its Attribution Parties) beneficial ownership to effectuate the foregoing. The Maximum Percentage limitation contained in this paragraph and Section 2(e) of the Warrants issued to such Purchaser pursuant to this Agreement shall be coordinated so that the aggregate beneficial ownership of such Purchaser (together with its Attribution Parties and (iias defined in the Warrant) exercise or conversion of does not exceed the unexercised or non-converted portion Maximum Percentage limitation. In connection therewith, issuances pursuant to this Section 4.13 shall take precedence over issuances of any other securities Warrant Shares issuable to such Purchaser. The provisions of this paragraph shall be implemented in a manner otherwise than in strict conformity with the Company terms this paragraph to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Maximum Percentage beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such Maximum Percentage limitation. The limitations contained in this paragraph shall apply to assignees of such Purchaser hereunder. For the purposes of this paragraph, beneficial ownership and all determinations and calculations (including, without limitation, any other securities with respect to calculations of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)percentage ownership) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Genprex, Inc.), Securities Purchase Agreement (Arcadia Biosciences, Inc.)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Series E Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series E Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, such Holder would beneficially own in excess of the Holder (Beneficial Ownership Limitation, or such Holder together with the such Holder’s Affiliates, Affiliates and any other Persons acting as a group together with the such Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Affiliates Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series E Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series E Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company Corporation (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(c), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the each Holder that the Company Corporation is not representing to the such Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(c) applies, the determination of whether a Warrant the Series E Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Series E Preferred Stock are convertible shall be in the sole discretion reasonable judgment of the such Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Holder Beneficial Ownership Limitation or the Affiliates Beneficial Ownership Limitation, and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(c), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Series E Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Holder Beneficial Ownership Limitation” shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantSeries E Preferred Stock held by the applicable Holder. The Holder, upon notice to the Company, may increase or decrease the “Affiliates Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds Limitation” shall be 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of this Warrant Series E Preferred Stock held by the applicable Holder and the provisions of this Section 3.3.9 shall continue to applyits Affiliates. Any increase in the The Holder Beneficial Ownership Limitation will not be effective until together with the 61st day after such notice Affiliates Beneficial Ownership Limitation is delivered to collectively known as the Company. “Beneficial Ownership Limitation.” The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(c) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantSeries E Preferred Stock.

Appears in 2 contracts

Samples: Agreement and Plan of Merger and Reorganization (Adamis Pharmaceuticals Corp), Agreement and Plan of Merger and Reorganization (Adamis Pharmaceuticals Corp)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this a Warrant, and a the Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s AffiliatesAffiliates (as such term is defined in Rule 405 promulgated under the Securities Act), and any other Persons persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Personspersons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time shares of Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, shares of Common Stock (“Common Share Stock Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.93.4, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) ), and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 3.4 applies, the determination of whether a the Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a the Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a the Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.93.4, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a the Holder, the Company shall within two Trading Days (2) trading days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a the Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.93.4, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this the Warrant held by the Holder and the provisions of this Section 3.3.9 3.4 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 34 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this the Warrant.

Appears in 2 contracts

Samples: Warrant Agreement (HeartBeam, Inc.), Warrant Agreement (HeartBeam, Inc.)

Beneficial Ownership Limitation. The Company shall Corporation is not required to effect any exercise conversion of this Warrantthe Series A Preference Shares, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series A Preference Shares, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below)Limitation. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series A Preference Shares with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series A Preference Shares beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Series A Preference Shares or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96.d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6.d) applies, the determination of whether a Warrant is exercisable the Series A Preference Shares are convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion how many shares of a Warrant is exercisable Series A Preference Shares are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Series A Preference Shares may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and how many shares of which portion of a Warrant is exercisablethe Series A Preference Shares are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a A determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderAct. For purposes of this Section 3.3.96.d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ax) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (By) a more recent public announcement by the Company; Corporation or (Cz) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Series A Preference Shares, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (ormeans, upon election by a Holder prior subject to the issuance of any Warrantsnext sentence, 9.99%) % of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantSeries A Preference Shares held by the applicable Holder. The A Holder, upon not less than 61 days’ prior notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6.d) applicable to its Series A Preference Shares provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant the Series A Preference Shares held by the Holder Holder, and the provisions of this Section 3.3.9 6.d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6.d) to correct this paragraph (or any portion hereof) which that may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantSeries A Preference Shares.

Appears in 2 contracts

Samples: Merger Agreement (CBD Energy LTD), Merger Agreement (Westinghouse Solar, Inc.)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock) beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request (which may be via email) of a Holder, the Company Corporation shall within two one Trading Days Day confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrantsshares of Preferred Stock, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant the Preferred Stock held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The Beneficial Ownership Limitation shall not be waived by the Corporation or the Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Healthier Choices Management Corp.), Securities Purchase Agreement (Healthy Choice Wellness Corp.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 1 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)Affiliates), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised nonexercised portion of such this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9Section, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion of a this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion of a this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9Section, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a this Warrant. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9Section, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant. As used herein “Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

Appears in 2 contracts

Samples: Security Agreement (Splash Beverage Group, Inc.), Common Stock Agreement (Splash Beverage Group, Inc.)

Beneficial Ownership Limitation. The Company Parent shall not effect any exercise conversion of this Warrantany Conversion Amount, and a Holder the Lender shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwise, any Conversion Amount to the extent that after giving effect to such issuance of the Conversion Shares after exercise conversion as set forth on the applicable Notice of ExerciseConversion Notice, the Holder Lender (together with the Holder’s Lender's Affiliates, and any other Persons acting as a group together with the Holder Lender or any of the Holder’s Lender's Affiliates (such Persons, "Attribution Parties")), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock Shares beneficially owned by the Holder Lender and its Affiliates and Attribution Parties shall include the number of Common Stock Shares issuable upon exercise the Conversion of such Warrant the Conversion Amount with respect to which such determination is being made, but shall exclude the number of Common Stock Shares which would be issuable upon (i) exercise conversion of the remaining, non-exercised nonconverted portion of such Warrant this Agreement beneficially owned by the Holder Lender or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company Parent (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder Lender or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.97, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder Lender that the Company Parent is not representing to the Holder Lender that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder Lender is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 7 applies, the determination of whether a Warrant any amount outstanding under this Agreement is exercisable convertible (in relation to other securities owned by the Holder Lender together with any Affiliates and Attribution Parties) and of which portion of a Warrant the amount outstanding under this Agreement is exercisable convertible shall be in the sole discretion of the HolderLender, and the submission of a Notice of Exercise Conversion shall be deemed to be the Holder’s Lender's determination of whether a Warrant such amount is exercisable convertible (in relation to other securities owned by the Holder Lender together with any Affiliates and Attribution Parties) and of which portion of a Warrant such amount is exercisableconvertible, in each case subject to the Beneficial Ownership Limitation, and the Company Parent shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.97, in determining the number of outstanding Common StockShares, a Holder Lender may rely on the number of outstanding Common Stock Shares as reflected in (A) the Company’s Parent's most recent periodic or annual report filed with the Commissionapplicable securities regulators, as the case may be; , (B) a more recent public announcement by the Company; Parent or (C) a more recent written notice by the Company Parent or the its transfer agent setting forth the number of Common Stock Shares outstanding. Upon the written or oral request of a HolderLender, the Company Parent shall within two one (1) Trading Days Day confirm orally and in writing (including by e-mail) to the Holder Lender the number of Common Stock Shares then outstanding. In any case, the number of outstanding Common Stock Shares shall be determined after giving effect to the conversion or exercise of securities of the CompanyParent, including such Warrantthe amount outstanding under this Agreement, by the Holder Lender or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock Shares was reported. The "Beneficial Ownership Limitation" shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock Shares outstanding immediately after giving effect to the issuance of Common Stock Shares issuable upon exercise conversion of a Warrantsuch amounts. The HolderLender, upon notice to the CompanyParent, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.97, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock Shares outstanding immediately after giving effect to the issuance of Common Stock Shares upon exercise conversion of the amount outstanding under this Warrant Agreement held by the Holder Lender and the provisions of this Section 3.3.9 7 shall continue to apply, unless: (A) the Lender, provides the applicable stock exchange with a personal information form pursuant to the rules of such stock exchange, and (B) if required, the form has been approved by such stock exchange. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyParent. The provisions of this paragraph shall not be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 7 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder to this Agreement. Notwithstanding the foregoing, the Beneficial Ownership Limitation shall not apply if the Lender beneficially owns in excess of this Warrant9.99% of the number of Shares outstanding immediately before giving effect to the issuance of Conversion Shares issuable upon conversion of any Conversion Amount.

Appears in 2 contracts

Samples: Loan Agreement (IntelGenx Technologies Corp.), Loan Agreement (IntelGenx Technologies Corp.)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary contained herein, the Company shall not effect any the exercise of any portion of this WarrantOption, and a the Holder shall not have the right to exercise any portion of a Warrantthis Option, pursuant to Section 3 or otherwisethe terms and conditions of this Option and any such exercise shall be null and void and treated as if never made, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s its Affiliates (such Persons, “Attribution Parties”)), collectively would beneficially own in excess of 49.99% (the Beneficial Ownership Limitation (as defined below)“Maximum Percentage”) of the number of Common Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Common Stock Shares beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock Shares held by the Holder and its Affiliates plus the number of Common Shares issuable upon exercise of such Warrant this Option with respect to which the determination of such determination sentence is being made, but shall exclude the number of Common Stock Shares which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution PartiesCompany. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.92(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange 1934 Act”) and ). In the rules and regulations promulgated thereunder, it being acknowledged by the Holder event that the Company is not representing issuance of Common Shares to the Holder that such calculation is upon exercise of this Option would, but for this Section 2(d), result in compliance with the Holder and its Affiliates being deemed to beneficially own, in the aggregate, more than the Maximum Percentage of the number of outstanding shares of Common Stock (as determined under Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies1934 Act), the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining then the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company Option Shares issuable under this Option shall within two Trading Days confirm in writing (including by e-mail) automatically be reduced to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99shares as would result in the Holder and its Affiliates collectively owning 49.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock Shares outstanding immediately after giving effect to such exercise, but the issuance of Total Exercise Price shall not be adjusted. Any Common Stock Shares that would otherwise be issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph Option shall be construed cancelled and implemented in a manner otherwise than in strict conformity with the terms of void and no longer subject to this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantOption.

Appears in 2 contracts

Samples: Security Agreement (Rare Element Resources LTD), Security Agreement (Synchron)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a A Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Warrants to the extent that after giving effect to such the issuance of Warrant Shares after exercise as set forth on the applicable Notice of ExerciseElection to Purchase, the such Holder or a Person holding through such Holder (together with the such Holder’s Affiliatesor Person’s Affiliates (as defined in Rule 405 under the Securities Act), and any other Persons acting as a group together with the that Holder or person or any of the that Holder’s or person’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the 9.99% (“Beneficial Ownership Limitation (as defined below)Limitation”) of the Company’s Common Stock. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock Warrant Shares that would be owned by that Person issuable upon exercise of such Warrant the Warrants with respect to which such determination is being made, but shall exclude the number of shares of Common Stock (a) which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant Warrants beneficially owned by the that Holder or any of its Affiliates or Attribution Parties and (iib) which would be issuable upon exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. .. Except as set forth in the preceding sentence, for purposes of this Section 3.3.93.3.10, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended amended, and the rule and regulations promulgated thereunder (the “Exchange Act”) and the rules and regulations promulgated thereunder), it being acknowledged by the Holder that neither the Warrant Agent nor the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder or beneficial owner is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 3.3.10 applies, the determination of whether a Warrant is exercisable and of which portion of the Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of an Election to Purchase shall be deemed to be the Holder’s determination of whether such Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to and neither the Beneficial Ownership Limitation, and Warrant Agent nor the Company shall have no any obligation to verify or confirm the accuracy of such determinationdetermination and neither of them shall have any liability for any error made by the Holder or any other Person. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.93.3.10, in determining the number of outstanding shares of Common Stock, a Holder or other Person may rely on the number of outstanding shares of Common Stock as reflected in (Aa) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (Bb) a more recent public announcement by the Company; Company or (Cc) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon For any reason at any time, upon the written or oral request of a Person that represents that it is or is acting on behalf of a Holder, the Company shall shall, within two one (1) Trading Days Day, confirm orally or in writing (including or by e-mail) mail to the Holder that Person the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such the Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a this Warrant. The Holder, upon Upon delivery of a written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 3.3.10 shall continue to apply. Any as specified in such notice, provided that any increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCompany and any such increase or decrease will apply only to the Holder and its Affiliates and Attribution Parties and not to any other holder of Warrants. The provisions of this paragraph Section 3.3.10 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 3.3.10 to correct this paragraph subsection (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitationcontained. The limitations contained in this paragraph shall apply to a successor holder of this the Warrant.

Appears in 2 contracts

Samples: Warrant Agent Agreement (bioAffinity Technologies, Inc.), Warrant Agent Agreement (bioAffinity Technologies, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything herein to the contrary, the Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to that, upon such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the number of shares of Common Stock then beneficially owned by such Holder (together with the Holder’s and its Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder or any such Holder’s for purposes of Section 13(d) of the Exchange Act, including shares held by any “group” of which such Holder is a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth hereinafter, would exceed 4.9% (or, at the election of such Holder that is neither Deerfield Private Design Funds III, L.P., Deerfield Partners, L.P. nor an Affiliate of either of the foregoing made by delivering at least 61 days advance written notice to the Company of its intention to increase the beneficial ownership cap applicable to such Holder’s Affiliates , 9.9%) of the total number of shares of Common Stock then issued and outstanding (such Persons, the Attribution PartiesBeneficial Ownership Cap”)), would beneficially own in excess of ; provided that the Beneficial Ownership Limitation Cap shall not apply to the extent that the Common Stock is not deemed to constitute an “equity security” pursuant to Rule 13d-1(i) under the Exchange Act. For purposes hereof, “group” has the meaning set forth in Section 13(d) of the Exchange Act and applicable regulations of the Securities and Exchange Commission, and the percentage beneficially owned by such Holder shall be determined in a manner consistent with the provisions of Section 13(d) of the Exchange Act. For purposes hereof, each Holder may rely on the number of outstanding shares of Common Stock as set forth in the Company’s most recent annual report filed with the Securities and Exchange Commission, or any report filed by the Company with the Securities and Exchange Commission subsequent thereto, in each case, unless the Company has confirmed to such Holder the number of shares of Common Stock outstanding as provided in the next sentence (as defined belowin which case such Holder may rely upon such confirmation). Upon the written request of such Holder, the Company shall, within two (2) trading days, confirm in writing to such Holder the number of shares of Common Stock then outstanding. Each delivery of a Notice of Exercise by a Holder will constitute a representation by such Holder that it has evaluated the limitation set forth in this paragraph and determined that the issuance of the full number of shares of Common Stock requested in such Notice of Exercise is permitted under this paragraph. For purposes of the foregoing sentencethis paragraph, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such this Warrant pursuant to the Notice of Exercise with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise of the remaining, non-exercised unexercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties this Warrant, and (iiB) exercise exercise, exchange or conversion of the unexercised unexercised, unexchanged or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion conversion, exchange or exercise analogous to the limitation contained herein beneficially owned by the such Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in Notwithstanding the preceding sentenceforegoing, the Beneficial Ownership Cap shall be disregarded (i) for purposes of this Section 3.3.9, beneficial ownership shall determining the number of Shares to be calculated reserved for issuance in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”4(b) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d(ii) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number number, kind and amount of outstanding Common Stocksecurities, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic cash or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to other property that the Holder the number would be entitled to receive in respect of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock shares issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions as a result of this a Corporate Reorganization, Share Reclassification, Share Split, Special Distribution or other event for purposes of any adjustment required under Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant5.

Appears in 2 contracts

Samples: Exchange Agreement (Acutus Medical, Inc.), Exchange Agreement (Acutus Medical, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a A Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Warrants to the extent that after giving effect to such the issuance after exercise of Warrant ADSs as set forth on the applicable Notice of ExerciseElection to Purchase, the such Holder or a person holding through such Holder (together with the such Holder’s Affiliatesor person’s Affiliates (as defined in Rule 405 under the Securities Act), and any other Persons persons acting as a group together with the that Holder or person or any of the that Holder’s Affiliates (such Persons, “Attribution Parties”)or person’s Affiliates), would beneficially own in excess of 4.99% (or, at the election of the Holder prior to the issuance of the Warrants, 9.99%) (“Beneficial Ownership Limitation (as defined below)Limitation”) of the Company’s Ordinary Shares. For purposes of the foregoing sentence, the number of Common Stock Ordinary Shares beneficially owned by the Holder and its Affiliates and Attribution Parties a person shall include the number of Common Stock Ordinary Shares underlying ADSs held by the Holder plus the number of Ordinary Shares underlying the Warrant ADSs that would be owned by that person issuable upon exercise of such Warrant the Warrants with respect to which such determination is being made, but shall exclude the number of Common Stock Ordinary Shares (i) underlying the Warrant ADSs which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant Warrants beneficially owned by the Holder that person or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of underlying any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant held by such Holder or other instrument its Affiliates that is at any time are exercisable or convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Ordinary Shares and subject to a limitation on conversion or exercise that is analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesin this Section 3.3.10. Except as set forth in the preceding sentence, for purposes of this Section 3.3.93.3.10, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that neither the Warrant Agent nor the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder or beneficial owner is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 3.3.10 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise an Election to Purchase shall be deemed to be the Holder’s determination of whether a such Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable, in each case subject to and neither the Beneficial Ownership Limitation, and Warrant Agent nor the Company shall have no any obligation to verify or confirm the accuracy of such determinationdetermination and neither of them shall have any liability for any error made by the Holder or any other person. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.93.3.10, in determining the number of outstanding Common StockOrdinary Shares, a Holder or other person may rely on the number of outstanding Common Stock Ordinary Shares as reflected in (A) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of Common Stock Ordinary Shares outstanding. Upon For any reason at any time, upon the written or oral request of a person that represents that it is or is acting on behalf of a Holder, the Company shall shall, within two (2) Trading Days Days, confirm orally or in writing (including or by e-mail) mail to the Holder that person the number of Common Stock Ordinary Shares then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.99.99% as specified in such notice, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any any increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCompany and any such increase or decrease will apply only to the Holder and its Affiliates and not to any other holder of Warrants. The provisions of this paragraph Section 3.3.10 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 3.3.10 to correct this paragraph subsection (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 2 contracts

Samples: Warrant Agent Agreement (The9 LTD), Warrant Agent Agreement (The9 LTD)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Series I Preferred, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series I Preferred, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series I Preferred with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Series I Preferred beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Series I Preferred or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Series I Preferred is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Series I Preferred are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Series I Preferred may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Series I Preferred are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a HolderHolder (which may be via email), the Company Corporation shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Series I Preferred, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantSeries I Preferred held by the applicable Holder. The A Holder, upon notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Series I Preferred provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Series I Preferred held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantSeries I Preferred.

Appears in 2 contracts

Samples: Underwriting Agreement (Towerstream Corp), Underwriting Agreement (Towerstream Corp)

Beneficial Ownership Limitation. The Company shall not be required to effect any exercise of this a Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s AffiliatesAffiliates (as defined below), and any other Persons persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Personspersons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time shares of Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, shares of Common Stock (“Common Share Stock Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) ), and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two one Trading Days Day confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a Warrant. The Holder, upon written notice to the CompanyCompany and the Warrant Agent, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this a Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this a Warrant.

Appears in 2 contracts

Samples: Warrant Agent Agreement (Novusterra Inc), Warrant Agent Agreement (Novusterra Inc)

Beneficial Ownership Limitation. The Notwithstanding anything herein to the contrary, the Company shall not effect any exercise conversion of this Warrantthe Series B-1 Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series B-1 Preferred Stock, to the extent that after giving effect to that, upon such issuance after exercise as set forth on the applicable Notice of Exerciseconversion, the number of shares of Class A Common Stock then beneficially owned by such Holder (together with the Holder’s and its Affiliates, and any other Persons acting as Person whose beneficial ownership of Common Stock would be aggregated with such Holder’s for purposes of Section 13(d) of the Exchange Act, including shares held by any “group” of which such Holder is a group together member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth hereinafter, would exceed 4.9% of the total number of shares of Common Stock then issued and outstanding (the “4.9% Cap”); provided that the 4.9% Cap shall not apply to the extent that the Common Stock is not deemed to constitute an “equity security” pursuant to Rule 13d-1(i) under the Exchange Act. For purposes hereof, “group” has the meaning set forth in Section 13(d) of the Exchange Act and applicable regulations of the SEC, and the percentage beneficially owned by such Holder shall be determined in a manner consistent with the provisions of Section 13(d) of the Exchange Act. For purposes hereof, each Holder may rely on the number of outstanding shares of Common Stock as set forth in the Company’s most recent annual report filed with the SEC, or any report filed by the Company with the SEC subsequent thereto, in each case, unless the Company has confirmed to such Holder the number of shares of Common Stock outstanding as provided in the next sentence (in which case such Holder may rely upon such confirmation). Upon the written request of such Holder, the Company shall, within two (2) Trading Days, confirm in writing to such Holder the number of shares of Common Stock then outstanding. Each delivery of a Notice of Conversion by a Holder will constitute a representation by such Holder that it has evaluated the limitation set forth in this paragraph and determined that the issuance of the Holder’s Affiliates (full number of shares of Class A Common Stock requested in such Persons, “Attribution Parties”)), would beneficially own in excess Notice of the Beneficial Ownership Limitation (as defined below)Conversion is permitted under this paragraph. For purposes of the foregoing sentencethis Section 6(b), the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Class A Common Stock issuable upon exercise conversion of such Warrant the Series B-1 Preferred Stock subject to the Notice of Conversion with respect to which such determination is being made, but shall exclude the number of shares of Class A Common Stock which would be are issuable upon (iA) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series B-1 Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties Affiliates, and (iiB) exercise exercise, exchange or conversion of the unexercised unexercised, unexchanged or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion conversion, exchange or exercise analogous to the limitation contained herein (including the Series A Preferred Stock and any other class or series of Preferred Stock and warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantAffiliates.

Appears in 1 contract

Samples: Exchange Agreement (Flynn James E)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary contained herein, the Company shall not effect any the exercise of this Warrant, and a the Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the Holder such Person (together with the Holdersuch Person’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), affiliates) would beneficially own in excess of 4.99% (the Beneficial Ownership Limitation (as defined below)“Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder such Person and its Affiliates and Attribution Parties affiliates shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which the determination of such determination sentence is being made, but shall exclude the number shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised unexercised portion of such this Warrant beneficially owned by the Holder or any of such Person and its Affiliates or Attribution Parties affiliates and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by such Person and its affiliates (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, convertible notes or convertible preferred stock, right, option, warrant stock or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderamended. For purposes of this Section 3.3.9Warrant, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A1) the Company’s most recent periodic Form 10-K, Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the Securities and Exchange Commission, as the case may be; , (B2) a more recent public announcement by the Company; Company or (C3) a more recent written any other notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon For any reason at any time, upon the written or oral request of a the Holder, the Company shall within two Trading Days one (1) Business Day confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such this Warrant, by the Holder or and its Affiliates or Attribution Parties affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon By written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions Maximum Percentage to any other percentage not in excess of this Section 3.3.9, 9.99% specified in such notice; provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any (i) any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the Company, and (ii) any such increase or decrease will apply only to the Holder and not to any other holder of warrants. For the avoidance of doubt, to the extent the limitation set forth in this Section 1(g) applies, the determination (i) of whether the exercise of this Warrant may be effected (vis-a-vis other Options or Convertible Securities owned by the Holder or any of its Affiliates) and (ii) of which such Options or Convertible Securities shall be convertible, exercisable or exchangeable (as the case may be, as among all such securities owned by the Holder) shall, subject to such Maximum Percentage limitation, be determined on the basis of the first submission to the Company for conversion, exercise or exchange (as the case may be). The provisions of this paragraph shall be construed and implemented in a manner otherwise other than in strict conformity with the terms of this Section 3.3.9 1(g) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 1 contract

Samples: Warrant to Purchase Common Stock (Pacific Ethanol, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary contained herein, the Company shall not effect any exercise of this Warrant, and a the Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwisefor a number of Warrant Shares in excess of that number of Warrant Shares that, to the extent that after upon giving effect to such issuance after exercise as set forth on exercise, would cause (a) the applicable Notice aggregate number of Exercise, the shares of Common Stock beneficially owned by such Holder (together and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s Affiliatesfor purposes of Section 13(d) of the Exchange Act to exceed [·] of the total number of shares of the Common Stock outstanding following such exercise, or (b) the combined voting power of the securities of the Company beneficially owned by such Holder and its Affiliates and any other Persons acting as a group together whose beneficial ownership of Common Stock would be aggregated with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess for purposes of Section 13(d) of the Beneficial Ownership Limitation (as defined below)Exchange Act to exceed [·] of the combined voting power of all of the securities of the Company outstanding following such exercise. For purposes of the foregoing sentence, the number of shares of Common Stock or voting securities beneficially owned by the Holder and its Affiliates and Attribution Parties any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which such determination is being made, but shall exclude the number shares of Common Stock or other voting securities which would be issuable upon (i) exercise of the remaining, non-exercised unexercised portion of such this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by the Holder or any of its Affiliates and other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, convertible notes or convertible preferred stock, right, option, warrant stock or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesin this Section 13. Except as set forth in the preceding sentence, for purposes of this Section 3.3.913, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph 13 shall be construed construed, corrected and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 so as to correct this paragraph (or any portion hereof) which may be defective or inconsistent with effectuate the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 1 contract

Samples: Securities Purchase Agreement (GTX Inc /De/)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 1 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)Affiliates), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised nonexercised portion of such this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9Section, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion of a this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion of a this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9Section, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission (the “Commission”), as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the transfer agent Company’s Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two one (1) Trading Days Day confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a this Warrant. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9Section, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant. As used herein “Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

Appears in 1 contract

Samples: Common Stock Purchase Warrant (Splash Beverage Group, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise conversion of this WarrantNote, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethis Note, to the extent that after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant this Note with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted principal amount of such Warrant this Note beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, any other Notes) beneficially owned by the Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 4(d) applies, the determination of whether a Warrant this Note is exercisable convertible (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion principal amount of a Warrant this Note is exercisable convertible shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the Holder’s determination of whether a Warrant is exercisable this Note may be converted (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and which principal amount of which portion of a Warrant this Note is exercisableconvertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder will be deemed to represent to the Company each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.94(d), in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; , or (Ciii) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrantthis Note, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a Warrantthis Note held by the Holder. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.94(d), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Note held by the Holder and the Beneficial Ownership Limitation provisions of this Section 3.3.9 4(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 4(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantNote.

Appears in 1 contract

Samples: Note Agreement (iQSTEL Inc)

Beneficial Ownership Limitation. The Company shall has agreed with Alpha and Brio, individually and not effect collectively, that in no event may Alpha or Brio convert the shares of Series C Preferred Stock or exercise or convert any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseother securities (collectively, the Holder (together with “Securities”) issued by the Holder’s AffiliatesCompany to either Alpha or Brio, and any other Persons acting if, as a group together with the Holder result of any such conversion or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon by: (i) exercise of the remainingAlpha , non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership it shall be calculated in accordance with Section 13(d) the beneficial owner of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99than 9.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion of the Series C Preferred Stock or the exercise of a Warrant. The Holderany Securities containing rights to acquire or be exchanged for shares of Common Stock and (ii) Brio, upon notice to it shall be the Company, may increase or decrease the Beneficial Ownership Limitation provisions beneficial owner of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99more than 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion of the Series C Preferred Stock or the exercise of any Securities containing rights to acquire or be exchanged for shares of Common Stock . The foregoing is defined in this Exchange Agreement as the “Beneficial Ownership Limitation.” Either Alpha and/or Brio, individually and not collectively, may decrease the Beneficial Ownership Limitation at any time and, upon not less than 61 days’ prior notice to the Company, may increase the Beneficial Ownership Limitation under this Section 1.4, provided that the Beneficial Ownership Limitation with respect to Alpha, in no event exceeds 9.99%, and with respect to Brio, in no event exceeds 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon conversion of the Series C Preferred Stock or the exercise of this Warrant any Securities containing rights to acquire or be exchanged for shares of Common Stock held by the Holder Alpha and/or Brio, acting singly, and the Beneficial Ownership Limitation provisions of this Section 3.3.9 1. 4 shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 1. 4 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantthe Convertible Note or any Securities issued to Alpha and Brio .

Appears in 1 contract

Samples: Securities Exchange Agreement (Accelerated Pharma, Inc.)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a HolderHolder (which may be via email), the Company Corporation shall within two one Trading Days Day confirm orally and in writing (including by e-mailwhich may be via email) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Preferred Stock held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 1 contract

Samples: Securities Purchase Agreement (Innovation Pharmaceuticals Inc.)

Beneficial Ownership Limitation. The Company Notwithstanding anything herein to the contrary, the Corporation shall not effect any exercise conversion of this Warrantthe Class A Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Class A Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as an attempted conversion set forth on the an applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder or any of the Holder’s Affiliates for purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable regulations of the Commission, including any “group” of which the Holder is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Class A Preferred Stock subject to the Notice of Conversion with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise conversion of the remaining, non-exercised portion unconverted shares of such Warrant Class A Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties Parties, and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company Corporation (including, without limitation, including any other securities warrants) beneficially owned by such Holder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.96(c), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and applicable regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.96(c), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the CompanyCorporation’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Corporation that is filed with the Commission, or (C) a more recent written notice by the Company Corporation or the Corporation’s transfer agent to the Holder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderHolder (which may be by email), the Company shall Corporation shall, within two three (3) Trading Days thereof, confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.Holder (which may

Appears in 1 contract

Samples: Securities Purchase Agreement (Fate Therapeutics Inc)

Beneficial Ownership Limitation. The Company shall not effect Notwithstanding any exercise provision to the contrary contained herein, any Notice of this Warrant, and a Conversion delivered by or on behalf of the Holder shall be deemed automatically not to have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, been so delivered by such person to the extent extent, but only to the extent, that after giving effect immediately prior to or following the delivery of any shares of Common Stock or any other security otherwise deliverable upon such issuance after exercise as set forth on the applicable Notice of Exercise, conversion would result in the Holder in the aggregate (together with the Holder’s Affiliates, affiliates and any other Persons acting as member of a group together Section 13(d) “group” with the Holder Holder) having “beneficial ownership” as determined in accordance with Section 13(d) of the Exchange Act and the rules thereunder (“Beneficial Ownership”) of Common Stock or any other class of any equity security (other than an exempted security) that is registered pursuant to Section 12 of the Holder’s Affiliates Exchange Act (such Persons, a Attribution PartiesClass)), would beneficially own ) in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentencecalculating Beneficial Ownership, the aggregate number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such the determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of the Preferred Stock or any other securities of the Company Corporation beneficially owned by the Holder (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stockconvertible notes, including, without limitation, any debt, preferred stock, right, option, warrant convertible stock or other instrument warrants) that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by herein. Any purported delivery to any Holder of a number of shares of Common Stock or any other security upon conversion of the Preferred Stock shall be void and have no effect to the extent, but only to the extent, that before or after such delivery, the Holder would have Beneficial Ownership of Common Stock or any other Class in excess of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation. The Holder shall disclose to the Corporation the number of shares of Common Stock or other applicable Class that it, its affiliates or any member of a group with the Holder owns or has the right to acquire through the exercise of derivative securities and any limitations on exercise or conversion analogous to the limitation contained herein contemporaneously or immediately prior to submitting a Notice of Conversion. “Beneficial Ownership Limitation” shall initially be 4.99%, and the Company shall have no obligation to verify may subsequently be increased or confirm the accuracy of such determination. In addition, a determination as decreased to any group status as contemplated above shall be determined other percentage at the Holder’s election, any such increase to require 61 days’ advance notice delivered to the Corporation; provided that the Beneficial Ownership Limitation in accordance with Section 13(d) of the Exchange Act no event exceeds 19.99% and the rules and regulations promulgated thereunderprovisions of this Section 6(d) shall continue to apply. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A1) the CompanyCorporation’s most recent periodic Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the Securities and Exchange Commission, as the case may be; , (B2) a more recent public announcement by the Company; Corporation or (C3) a more recent written any other notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstandingoutstanding (such issued and outstanding shares, the “Reported Outstanding Share Number”). Upon If the written request Corporation receives a Notice of Conversion from the Holder at a time when the actual number of outstanding shares of Common Stock is less than the Reported Outstanding Share Number, the Corporation shall notify the Holder in writing of the number of shares of Common Stock then outstanding and, to the extent that such Notice of Conversion would otherwise cause the Holder’s, together with those parties’ holdings aggregated with the Holder’s holdings as determined pursuant to this Section 6(d), to exceed the Beneficial Ownership Limitation, the Holder must notify the Corporation of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the reduced number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall to be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect converted pursuant to such limitation. The limitations contained in this paragraph shall apply to a successor holder Notice of this WarrantConversion.

Appears in 1 contract

Samples: Securities Purchase Agreement (Madrigal Pharmaceuticals, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, Affiliates (as defined below) and any other Persons acting as a group together each person subject to aggregation with the such Holder or any its Affiliates under Sections 13(d) or 14(d) of the Holder’s Affiliates Securities Exchange Act of 1934, as amended (the “Exchange Act”) (such Personspersons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of this Warrant Agreement, “Affiliate” means any person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a person, as such terms are used in and construed under Rule 405 under the Securities Act. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Stock Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 1 contract

Samples: Warrant Agent Agreement (PeerStream, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary set forth in this Debenture, at no time may the Company shall not effect any exercise of this Warrant, and a issue to the Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Debenture Shares to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseissuance, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.95(g), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 5(g) applies, the determination of whether a Warrant is exercisable shares of Common Stock may be issued pursuant to this Debenture (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Holder Redemption Notice of Exercise (at a time when this Debenture is Stock On) shall be deemed to be the Holder’s determination of whether a Warrant is exercisable shares of Common Stock may be issued pursuant to this Debenture (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation. In addition, the Holder may notify the Company that the issuance of any Debenture Shares would cause the Holder to exceed the Beneficial Ownership Limitation, in which case, the Company shall only issue to the Holder such number of shares of Common Stock that would not cause the Holder to exceed the Beneficial Ownership (as determined by the Holder in accordance with this Section 5(g)). To ensure compliance with this restriction, the Holder will be deemed to represent to the Company each time it delivers a Holder Redemption Notice (at a time that this Debenture is Stock On) that such Holder Redemption Notice has not violated the restrictions set forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.95(g), in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; , or (Ciii) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion issuance of shares of Common Stock under this Debenture or exercise of securities of the Company, including such Warrant, by Warrants to the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.994.9% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the applicable issuance of shares of Common Stock issuable upon exercise of a Warrantpursuant to this Debenture held by the Holder. The Holder, upon not less than sixty-one (61) days’ prior notice to the CompanyBorrowers, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.95(g), provided that the Beneficial Ownership Limitation in no event exceeds 9.999.9% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise pursuant to the terms of this Warrant held by the Holder Debenture and the Beneficial Ownership ​ ​ Limitation provisions of this Section 3.3.9 shall 5(g)shall continue to apply. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st sixty first (61st) day after such notice is delivered to the Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 5(g) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantDebenture.

Appears in 1 contract

Samples: Security Agreement (22nd Century Group, Inc.)

Beneficial Ownership Limitation. The Company shall not effect issue any Common Shares hereunder or upon exercise of this the Warrant, and a Holder Xxxxxxxx shall not have the right to exercise receive any portion of a Common Shares hereunder and FFLP shall not have the right to receive any Common Shares under the Warrant, pursuant to Section 3 or otherwise, to the extent the number of shares of Common Shares beneficially owned (calculated in accordance with Rule 13d-3 promulgated under the Exchange Act, but disregarding shares that would, but for this Section 6, be issuable hereunder or under the Warrant) by Xxxxxxxx and FFLP in the aggregate after giving effect to any such issuance after exercise would exceed nine and nine tenths percent (9.90%) of the aggregate number of shares of Common Stock outstanding (the “Maximum Number“). The Maximum Number shall automatically increase or decrease as set forth the number of shares of Common Stock outstanding increases or decreases such that the Maximum Number shall continue to equal nine and nine tenths percent (9.90%) of the aggregate number of shares of Common Stock outstanding. Unless expressly waived in writing by Xxxxxxxx, the Company shall deliver to Xxxxxxxx on or before the tenth (10th) day of each calendar month commencing April 10, 2011 a notice (an “Outstanding Share Notice“) stating the aggregate number of shares of Common Stock outstanding as of the last day of the preceding month and the increase (an “Increase“) or decrease (a “Decrease“), if any, in the aggregate number of shares of Common Stock from the number of shares reported on the applicable preceding Outstanding Share Notice of Exercise(or, in the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any case of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentencefirst Outstanding Share Notice, the number of shares of Common Stock beneficially owned outstanding as reported in Section 4(m)). The Maximum Number shall also be increased on the sixty-fifth (65th) day after Xxxxxxxx delivers a written notice (a “65-Day Notice“) to the Company designating a greater Maximum Number. A 65-Day Notice may be given by Xxxxxxxx at any time and from time to time on one or more occurrences. Any shares of Common Stock or other consideration (in the Holder and its Affiliates and Attribution Parties shall include the number form of cash, securities or other assets per share of Common Stock issuable to a holder of shares of Common Stock in connection with a Fundamental Transaction (as defined in the Warrant)) that would have been issued to Xxxxxxxx under this Agreement or to FFLP upon exercise of such the Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise for one or more of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation limitations contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable 6 shall be in the sole discretion of the Holder, deferred and the submission of a Notice of Exercise shall be deemed delivered to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify Xxxxxxxx or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the CommissionFFLP, as the case may be; , promptly and in any event no later than three (B3) a more recent public announcement Business Days after the date such limitations cease to restrict the issuance of such shares (whether due to an increase in the Maximum Number so as to permit such issuance, the disposition by Xxxxxxxx or FIL, as the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number case may be, of shares of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantother reason).

Appears in 1 contract

Samples: Settlement Agreement (Raser Technologies Inc)

Beneficial Ownership Limitation. The Company shall not effect any exercise or conversion of this Warrantany Company security, and a Holder the Purchaser shall not have the right to exercise or convert any portion of a Warrant, pursuant to Section 3 or otherwiseany Company security, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseor conversion, the Holder Purchaser (together with the HolderPurchaser’s Affiliatesaffiliates, and any other Persons persons acting as a group together with the Holder Purchaser or any of the HolderPurchaser’s Affiliates affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates Purchaser and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise or conversion of such Warrant the Company security with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise or conversion of the remaining, non-exercised nonexercised or nonconverted portion of the Company security to which such Warrant determination is being made that is beneficially owned by the Holder Purchaser or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder Purchaser or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder Purchaser that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder Purchaser is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. .. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.95, in determining the number of outstanding shares of Common Stock, a Holder the Purchaser may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the U.S. Securities and Exchange Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holderthe Purchaser, the Company shall within two Trading Days trading days confirm orally and in writing (including by e-mail) to the Holder Purchaser the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, Company by the Holder Purchaser or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.9919.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrantoutstanding. The HolderPurchaser, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply5. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 1 contract

Samples: Security Purchase Agreement (Amyris, Inc.)

Beneficial Ownership Limitation. The Company Notwithstanding anything herein to the contrary, the Corporation shall not effect any exercise conversion of this Warrantthe Series A Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series A Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as an attempted conversion set forth on the an applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder or any of the Holder’s Affiliates for purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable regulations of the Commission, including any “group” of which the Holder is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series A Preferred Stock subject to the Notice of Conversion with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series A Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties Parties, and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company Corporation (including, without limitation, including any other securities warrants) beneficially owned by such Holder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.96.3, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and applicable regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.96.3, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the CompanyCorporation’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Corporation that is filed with the Commission, or (C) a more recent written notice by the Company Corporation or the Corporation’s transfer agent to the Holder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderHolder (which may be by email), the Company shall Corporation shall, within two three (3) Trading Days thereof, confirm in writing to such Holder (including by e-mailwhich may be via email) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the CompanyCorporation, including such Warrantshares of Series A Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall initially be 4.99set at the discretion of the Holder between 4.9% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) and 19.9% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise pursuant to such Notice of a WarrantConversion (to the extent permitted pursuant to this Section 6.3). The HolderCorporation shall be entitled to rely on representations made to it by the Holder in any Notice of Conversion regarding its Beneficial Ownership Limitation. Notwithstanding the foregoing, upon by written notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation (i) which will not be effective until the 61st sixty-first (61st) day after such written notice is delivered to the Corporation, the Holder may reset the Beneficial Ownership Limitation percentage to a higher percentage, not to exceed 19.9%, to the extent then applicable and (ii) which will be effective immediately after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with Corporation, the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which Holder may be defective or inconsistent with reset the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply percentage to a successor holder lower percentage. Upon such a change by a Holder of the Beneficial Ownership Limitation, the Beneficial Ownership Limitation may not be further amended by such Holder without first providing the minimum notice required by this WarrantSection 6.3. Notwithstanding the foregoing, at any time following notice of a Fundamental Transaction, the Holder may waive and/or change the Beneficial Ownership Limitation effective immediately upon written notice to the Corporation and may reinstitute a Beneficial Ownership Limitation at any time thereafter effective immediately upon written notice to the Corporation.

Appears in 1 contract

Samples: Merger Agreement (Unum Therapeutics Inc.)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Class B Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Class B Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Class B Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Class B Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Class B Preferred Stock or Common Stock Equivalents) beneficially owned by the such Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.95(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 5(d) applies, the determination of whether a Warrant the Class B Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion how many shares of a Warrant is exercisable Class B Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Class B Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and how many shares of which portion of a Warrant is exercisablethe Class B Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.95(d), in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Class B Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Class B Preferred Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantapplicable Holder.

Appears in 1 contract

Samples: Securities Purchase Agreement (Formation Minerals, Inc.)

Beneficial Ownership Limitation. The Company shall not effect honor any exercise conversion of this WarrantNote, and a the Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethis Note, to the extent that after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant this Note with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted principal amount of such Warrant this Note beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, any other Notes) beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94(f), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 4(f) applies, the determination of whether a Warrant this Note is exercisable convertible (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion principal amount of a Warrant this Note is exercisable convertible shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the Holder’s determination of whether a Warrant is exercisable this Note may be converted (in relation to other securities owned by the Holder together with any Affiliates and or Attribution Parties) and which principal amount of which portion of a Warrant this Note is exercisableconvertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder will be deemed to represent to the Company each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.94(f), in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (Bii) a more recent public announcement by the Company; or (Ciii) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two one Trading Days Day confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrantthis Note, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.994.9% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a Warrantthis Note held by the Holder. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.94(f), provided that the Beneficial Ownership Limitation in no event exceeds 9.999.9% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Note held by the Holder and the Beneficial Ownership Limitation provisions of this Section 3.3.9 4(f) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 4(f) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 1 contract

Samples: Securities Purchase Agreement (Emmaus Life Sciences, Inc.)

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Beneficial Ownership Limitation. The Company Notwithstanding anything herein to the contrary, the Corporation shall not effect any exercise conversion of this Warrantthe Series A Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series A Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as an attempted conversion set forth on the an applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder or any of the Holder’s Affiliates for purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable regulations of the Commission, including any “group” of which the Holder is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series A Preferred Stock subject to the Notice of Conversion with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series A Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties Parties, and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company Corporation (including, without limitation, including any other securities warrants) beneficially owned by such Holder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.96(c), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and applicable regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.96(c), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the CompanyCorporation’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Corporation that is filed with the Commission, or (C) a more recent written notice by the Company Corporation or the Corporation’s transfer agent to the Holder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderHolder (which may be by email), the Company shall Corporation shall, within two three (3) Trading Days thereof, confirm in writing to such Holder (including by e-mailwhich may be via email) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the CompanyCorporation, including such Warrantshares of Series A Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall be 4.99means 19.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number shares of Common Stock outstanding immediately after giving effect pursuant to such Notice of Conversion (to the issuance of Common Stock upon exercise of extent permitted pursuant to this Warrant held Section 6(c)). The Corporation shall be entitled to rely on representations made to it by the Holder and the provisions in any Notice of this Section 3.3.9 shall continue to apply. Any increase in the Conversion regarding its Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantLimitation.

Appears in 1 contract

Samples: Securities Purchase Agreement (Aimmune Therapeutics, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything herein to the contrary, the Company shall not effect honor any exercise of this Warrant, and a Holder Warrantholder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that that, after giving effect to such issuance after an attempted exercise as set forth on the an applicable Notice of Exercise, the Holder such Warrantholder (together with the Holdersuch Warrantholder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder Warrantholder’s for purposes of Section 13(d) or any Section 16 of the Holder’s Affiliates Securities Exchange Act of 1934, as amended (such Personsthe “Exchange Act”), and the applicable regulations of the U.S. Securities and Exchange Commission (the “Commission”), including any “group” of which the Warrantholder is a member (the foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder such Warrantholder and its Affiliates and Attribution Parties shall include the number of Common Stock Warrant Shares issuable upon exercise under the Notice of such Warrant Exercise with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise of the remaining, non-exercised unexercised portion of such any Warrant beneficially owned by the Holder such Warrantholder or any of its Affiliates or Attribution Parties Parties, and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, including any other securities warrants) beneficially owned by such Warrantholder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.910, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and applicable regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.910, in determining the number of outstanding shares of Common Stock, a Holder Warrantholder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the Company’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Company that is filed with the Commission, or (C) a more recent written notice by the Company or the Company’s transfer agent to the Warrantholder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderWarrantholder (which may be by email), the Company shall shall, within two Trading Days three (3) trading days thereof, confirm in writing to such Warrantholder (including by e-mailwhich may be via email) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the Company, including such exercise of this Warrant, by the Holder such Warrantholder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Warrantholder. The “Beneficial Ownership Limitation” shall initially be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise pursuant to such Notice of a Warrant. The HolderExercise (to the extent permitted pursuant to this Section 10); provided, upon however, that by written notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation which will not be effective until the 61st day after such notice is delivered to the Company. The , the Warrantholder may waive or amend the provisions of this paragraph shall be construed Section 10 to change the Beneficial Ownership Limitation to any other number less than or equal to 19.99%, and implemented in a manner otherwise than in strict conformity with the terms provisions of this Section 3.3.9 10 shall continue to correct this paragraph (or apply. The Company shall be entitled to rely on representations made to it by the Warrantholder in any portion hereof) which may be defective or inconsistent with the intended Notice of Exercise regarding its Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantLimitation.

Appears in 1 contract

Samples: Warrant Agreement (Anthera Pharmaceuticals Inc)

Beneficial Ownership Limitation. The Company shall not effect any exercise conversion of this Warrantthe Series E Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series E Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined belowherein). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series E Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted shares of such Warrant Series E Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Series E Preferred Stock or any other convertible securities of the Company) beneficially owned by the such Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.95, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 5 applies, the determination of whether a Warrant the Series E Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion how many shares of a Warrant is exercisable Series E Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Series E Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and how many shares of which portion of a Warrant is exercisablethe Series E Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Company each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.95, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in (A) the Company’s most recent periodic or annual report filed with of the Commission, as the case may be; following: (Bi) a more recent public announcement by the Company; Company or (Cii) a more recent written notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrantthe Series E Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantSeries E Preferred Stock held by the applicable Holder. The A Holder, upon not less than sixty five (65) days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common 5 applicable to its Series E Preferred Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 5 shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-sixth (66th) day after such notice is delivered to the CompanyCompany and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 5 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder Holder of this WarrantSeries E Preferred Stock.

Appears in 1 contract

Samples: Securities Purchase Agreement (Technest Holdings Inc)

Beneficial Ownership Limitation. The Company (a) Notwithstanding anything in this Warrant to the contrary, the Corporation shall not effect honor any exercise of this Warrant, and a Holder Warrantholder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that that, after giving effect to such issuance after an attempted exercise as set forth on the an applicable Notice of Exercise, the Holder such Warrantholder (together with the Holdersuch Warrantholder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder Warrantholder’s for purposes of Section 13(d) or any Section 16 of the Holder’s Affiliates Exchange Act, and any other applicable regulations of the SEC, including any “group” of which the Warrantholder is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (Limitation. Except as defined below). For set forth in the immediately preceding sentence, for purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder such Warrantholder and its Affiliates and Attribution Parties shall include the number of Common Stock Warrant Shares issuable upon exercise under the Notice of such Warrant Exercise with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (ia) exercise of the remaining, non-exercised unexercised portion of such any Warrant beneficially owned by the Holder such Warrantholder or any of its Affiliates or Attribution Parties Parties, and (iib) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company Corporation (including, without limitation, including any other securities warrants) beneficially owned by such Warrantholder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the immediately preceding sentence, for purposes of this Section 3.3.914, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act and any other applicable regulations of 1934the SEC. In addition, as amended (for purposes hereof, “group” has the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderSEC. For purposes of this Section 3.3.914, in determining the number of outstanding shares of Common Stock, a Holder Warrantholder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ax) the CompanyCorporation’s most recent periodic or annual report filed filing with the CommissionSEC, as the case may be; , (By) a more recent public announcement by the Company; Corporation that is filed with the SEC, or (Cz) a more recent written notice by the Company Corporation or the Corporation’s transfer agent to the Warrantholder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderWarrantholder (which may be by email), the Company shall Corporation shall, within two three (3) Trading Days thereof, confirm in writing to such Warrantholder (including by e-mailwhich may be via email) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the CompanyCorporation, including such exercise of this Warrant, by the Holder such Warrantholder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Warrantholder. The Corporation shall be entitled to rely on representations made to it by the Warrantholder in any Notice of Exercise regarding its Beneficial Ownership Limitation. The Warrantholder acknowledges that the Warrantholder is solely responsible for any schedules or statements required to be filed by it in accordance with Section 13(d) or Section 16(a) of the Exchange Act. (b) The “Beneficial Ownership Limitation” shall initially be 4.994.999% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise pursuant to such Notice of a Warrant. The HolderExercise (to the extent permitted pursuant to this Section 14); provided, upon however, that by written notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation which will not be effective until the 61st day after such notice is delivered given by the Warrantholder to the Company. The Corporation, the Warrantholder may waive or amend the provisions of this paragraph shall be construed Section 14 to change the Beneficial Ownership Limitation to any other number, and implemented in a manner otherwise than in strict conformity with the terms provisions of this Section 3.3.9 14 shall continue to correct this paragraph (apply. Upon any such waiver or any portion hereof) which may be defective or inconsistent with amendment to the intended Beneficial Ownership Limitation, the Beneficial Ownership Limitation herein contained may not be further waived or to make changes or supplements necessary or desirable to properly give effect to such limitationamended by the Warrantholder without first providing the minimum written notice required by the immediately preceding sentence. The limitations contained in this paragraph shall apply Notwithstanding the foregoing, at any time following notice of a Change of Control Transaction under Section 12(v) with respect to a successor holder Change of Control Transaction that is pursuant to any tender offer or exchange offer (by the Corporation or another Person (other than the Warrantholder or any Affiliate of the Warrantholder)), the Warrantholder may waive or amend the Beneficial Ownership Limitation effective immediately upon written notice to the Corporation and may reinstitute a Beneficial Ownership Limitation at any time thereafter effective immediately upon written notice to the Corporation. (c) Notwithstanding the provisions of this Xxxxxxx 00, xxxx of the provisions of this Section 14 shall restrict in any way the number of shares of Common Stock which the Warrantholder may receive or beneficially own in order to determine the amount of securities or other consideration that the Warrantholder may receive in the event of a Change of Control Transaction as contemplated in Section 12(v) of this Warrant.

Appears in 1 contract

Samples: Warrant to Purchase Common Stock (Air Transport Services Group, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a A Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Warrants to the extent that after giving effect to such the issuance of Warrant Shares after exercise as set forth on the applicable Notice of ExerciseElection to Purchase, the such Holder or a person holding through such Holder (together with the such Holder’s Affiliatesor person’s Affiliates (as defined in Rule 405 under the Securities Act), and any other Persons persons acting as a group together with the that Holder or person or any of the that Holder’s Affiliates (such Persons, “Attribution Parties”)or person’s Affiliates), would beneficially own in excess of the 4.99% (“Beneficial Ownership Limitation (as defined below)Limitation”) of the Company’s Ordinary Shares. For purposes of the foregoing sentence, the number of Common Stock Ordinary Shares beneficially owned by the Holder and its Affiliates and Attribution Parties a person shall include the number of Common Stock Ordinary Shares that would be owned by that person issuable upon exercise of such Warrant the Warrants with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of Ordinary Shares underlying any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant held by such Holder or other instrument its Affiliates that is at any time are exercisable or convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Ordinary Shares and subject to a limitation on conversion or exercise that is analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesin this Section 3.3.10. Except as set forth in the preceding sentence, for purposes of this Section 3.3.93.3.10, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that neither the Warrant Agent nor the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder or beneficial owner is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 3.3.10 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise an Election to Purchase shall be deemed to be the Holder’s determination of whether a such Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable, in each case subject to and neither the Beneficial Ownership Limitation, and Warrant Agent nor the Company shall have no any obligation to verify or confirm the accuracy of such determinationdetermination and neither of them shall have any liability for any error made by the Holder or any other person. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.93.3.10, in determining the number of outstanding Common StockOrdinary Shares, a Holder or other person may rely on the number of outstanding Common Stock Ordinary Shares as reflected in (A) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of Common Stock Ordinary Shares outstanding. Upon For any reason at any time, upon the written or oral request of a person that represents that it is or is acting on behalf of a Holder, the Company shall shall, within two (2) Trading Days Days, confirm orally or in writing (including or by e-mail) mail to the Holder that person the number of Common Stock Ordinary Shares then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.99.99% as specified in such notice, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any any increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCompany and any such increase or decrease will apply only to the Holder and its Affiliates and not to any other holder of Warrants. The provisions of this paragraph Section 3.3.10 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 3.3.10 to correct this paragraph subsection (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 1 contract

Samples: Warrant Agreement (Advanced Inhalation Therapies (AIT) Ltd.)

Beneficial Ownership Limitation. The Subject to the final sentence of this Section 2.20, the Company shall not effect any exercise conversion of this Warrantthe Notes pursuant to a Physical Settlement or a Combination Settlement or settle any Make-Whole Premium Consideration pursuant to a Physical Settlement, and a Holder shall not have the right to exercise convert any portion of a Warrant, the Notes pursuant to Section 3 or otherwiseArticle 5, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseupon such conversion or settlement, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Warrant conversion or settlement with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (iA) exercise conversion of the remaining, non-exercised unconverted portion of such Warrant the Notes beneficially owned by the Holder or any of its Affiliates or Attribution Parties Parties, including the settlement of any applicable Make-Whole Premium Consideration thereon, and (iiB) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company or its Subsidiaries which would entitle the holder thereof to acquire at any time shares of Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (such securities, “Common Share Stock Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.92.20, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in - 49 - accordance therewith. To avoid doubt, the calculation of the Beneficial Ownership Limitation shall take into account the concurrent exercise or conversion, as applicable, of the unexercised or unconverted portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) beneficially owned by the Holder or any of its Affiliates and Attribution Parties, as applicable. To the extent that the limitation contained in this Section 3.3.9 2.20 applies, the determination of whether a Warrant is exercisable the Notes are convertible (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable the Notes are convertible shall be in the sole discretion of the Holder, and the submission of a Notice notice of Exercise conversion shall be deemed to be the Holder’s determination of whether a Warrant is exercisable the Notes are convertible (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisablethe Notes are convertible, in each case subject to the Beneficial Ownership Limitation, and neither the Company nor the Trustee shall have no obligation to verify or confirm the accuracy of such determinationdetermination (including any determination as to group status pursuant to the next sentence). In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.92.20, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (Ai) the Company’s most recent periodic or annual report filed with the CommissionSEC, as the case may be; , (Bii) a more recent public announcement by the Company; Company or (Ciii) a more recent written notice by the Company or the its transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two one (1) Trading Days Day confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to any settlement in the form of Common Stock by Physical Settlement or Combined Settlement and the conversion or exercise of securities of the Company, including such Warrantthe Notes, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.999.9% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to such Physical Settlement or Combination Settlement, as the issuance of Common Stock issuable upon exercise of a Warrantcase may be. The A Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.92.20, provided that the Beneficial Ownership Limitation in no event is lower than 9.9% or exceeds 9.9919.9% of the number of shares of the Common Stock outstanding immediately after giving effect to such Physical Settlement or Combination Settlement, as the issuance of Common Stock upon exercise of this Warrant held by the Holder case may be, and the provisions of this Section 3.3.9 2.20 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 2.20 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of the Notes. Solely for the purpose of this Section 2.20, in the case of Global Notes, “Holder” shall mean a person that holds a beneficial interest in the Notes of the applicable series and not The Depository Trust Company or its nominee. Notwithstanding anything in this Section 2.20 to the contrary, to the extent that the receipt of shares of Common Stock for any reason pursuant to the terms of this Indenture (whether upon conversion or otherwise) is or would be limited due to the application of the Beneficial Ownership Limitation, the Company may, in its discretion, (x) effect such - 50 - conversion or settlement by issuing to the applicable Holder pre-funded warrants in the form attached as Exhibit D to this Indenture (each, a “Pre-Funded Warrant”) exercisable for such number of shares of Common Stock the receipt of which would otherwise be limited due to the application of the Beneficial Ownership Limitation; provided that, to the extent that a Holder is an Affiliate of the Company, the Company and the Board of Directors shall take all actions necessary to ensure that any issuance of such pre-funded warrants pursuant to this Section 2.20 is exempt from the application of Section 16 of the Exchange Act pursuant to Rule 16b-3 thereunder (to the extent such rule is applicable) or (y) notwithstanding any Conversion Settlement Method or Make-Whole Premium Settlement Method previously elected by the Company, settle the conversion or settlement obligation in respect of any shares of Common Stock the receipt of which would otherwise be limited due to the application of the Beneficial Ownership Limitation by Cash Settlement.

Appears in 1 contract

Samples: Second Lien Indenture (Luminar Technologies, Inc./De)

Beneficial Ownership Limitation. The (i) Notwithstanding anything in this Warrant to the contrary, the Company shall not effect honor any exercise of this Warrant, and a Holder Warrantholder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that that, after giving effect to such issuance after an attempted exercise as set forth on the an applicable Notice of Exercise, the Holder such Warrantholder (together with the Holdersuch Warrantholder’s Affiliates, and any other Persons acting as a group together Person whose Beneficial Ownership of Common Stock would be aggregated with the Holder Warrantholder’s for purposes of Section 13(d) or any Section 16 of the Holder’s Affiliates Exchange Act, and any other applicable regulations of the Commission, including any Group of which the Warrantholder is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own Beneficially Own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below)Limitation. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned Beneficially Owned by the Holder such Warrantholder and its Affiliates and Attribution Parties shall include the number of Common Stock Warrant Shares issuable upon exercise under the Notice of such Warrant Exercise with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (ia) exercise of the remaining, non-exercised unexercised portion of any Warrant Beneficially Owned by such Warrant beneficially owned by the Holder Warrantholder or any of its Affiliates or Attribution Parties Parties, and (iib) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, including any other securities warrants) Beneficially Owned by such Warrantholder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.912, beneficial ownership Beneficial Ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.912, in determining the number of outstanding shares of Common Stock, a Holder Warrantholder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (AX) the Company’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (BY) a more recent public announcement by the Company; Company that is filed with the Commission, or (CZ) a more recent written notice by the Company or the Company’s transfer agent to the Warrantholder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderWarrantholder, the Company shall shall, within two three Trading Days thereof, confirm in writing (including by e-mail) to the Holder such Warrantholder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the Company, including such exercise of this Warrant, by the Holder such Warrantholder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Warrantholder. The Company shall be entitled to rely on representations made to it by the Warrantholder in any Notice of Exercise regarding its Beneficial Ownership Limitation. The Warrantholder acknowledges that the Warrantholder is solely responsible for any schedules or statements required to be filed by it in accordance with Section 13(d) or Section 16(a) of the Exchange Act. (ii) The “Beneficial Ownership Limitation” shall initially be 4.999.999% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise Warrant Shares pursuant to such Notice of a Warrant. The HolderExercise (to the extent permitted pursuant to this Section 12); provided, upon however, that by written notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation which will not be effective until the 61st day after such notice is delivered given by the Warrantholder to the Company. The , the Warrantholder may waive or amend the provisions of this paragraph shall be construed Section 12 to change the Beneficial Ownership Limitation to any other number, and implemented in a manner otherwise than in strict conformity with the terms provisions of this Section 3.3.9 12 shall continue to correct this paragraph (apply. Upon any such waiver or any portion hereof) which may be defective or inconsistent with amendment to the intended Beneficial Ownership Limitation, the Beneficial Ownership Limitation herein contained may not be further waived or amended by the Warrantholder without first providing the minimum written notice required by the immediately preceding sentence. Notwithstanding the foregoing, at any time following notice of an Acquisition Transaction under Section 11(iv) with respect to make changes an Acquisition Transaction that is pursuant to any tender offer or supplements necessary exchange offer (by the Company or desirable another Person (other than the Warrantholder or any Affiliate of the Warrantholder)), the Warrantholder may waive or amend the Beneficial Ownership Limitation effective, at the election of the Warrantholder, either immediately upon written notice to properly give effect the Company or upon (and conditioned on) consummation of such Acquisition Transaction, and may reinstitute a Beneficial Ownership Limitation at any time thereafter effective immediately upon written notice to such limitation. The limitations contained the Company. (iii) Notwithstanding the provisions of this Section 12, none of the provisions of this Section 12 shall restrict in this paragraph shall apply any way the number of shares of Common Stock which the Warrantholder may have the right to a successor holder receive or Beneficially Own in order to determine the amount of securities or other consideration that the Warrantholder may have the right to receive in the event of an Acquisition Transaction as contemplated in Section 11 of this Warrant.

Appears in 1 contract

Samples: Warrant Agreement (Clean Energy Fuels Corp.)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Preferred Stock held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 1 contract

Samples: Shareholder Rights Agreement (NeuroMetrix, Inc.)

Beneficial Ownership Limitation. The Company Notwithstanding anything herein to the contrary, the Corporation shall not effect any exercise conversion of this Warrantthe Series B Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series B Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as an attempted conversion set forth on the an applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder or any of the Holder’s Affiliates (such Personsfor purposes of Section 13(d) of the Exchange Act and the applicable regulations of the Commission, including any Attribution Parties”)), group” of which the Holder is a member) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series B Preferred Stock subject to the Notice of Conversion with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series B Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties Affiliates, and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company Corporation (including, without limitation, including any other securities warrants) beneficially owned by such Holder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Affiliates that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(c), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and applicable regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder applicable regulations of the Commission. For purposes of this Section 6(c), it is solely responsible for any schedules required to be filed in accordance therewith. To the extent understood that the limitation contained in this Section 3.3.9 applies, the determination number of whether a Warrant is exercisable (in relation to other securities shares of Common Stock beneficially owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable each Investor shall be in the sole discretion aggregated with each other Investor for purposes of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderAct. For purposes of this Section 3.3.96(c), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the CompanyCorporation’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Corporation that is filed with the Commission or (C) a more recent written notice by the Company Corporation or the Corporation’s transfer agent to the Holder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderHolder (which may be by email), the Company shall Corporation shall, within two three (3) Trading Days thereof, confirm in writing to such Holder (including by e-mailwhich may be via email) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the CompanyCorporation, including such Warrantshares of Series B Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall be 4.999.98% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number shares of Common Stock outstanding immediately after giving effect pursuant to such Notice of Conversion (to the issuance of Common Stock upon exercise of extent permitted pursuant to this Warrant held Section 6(c)). The Corporation shall be entitled to rely on representations made to it by the Holder and the provisions in any Notice of this Section 3.3.9 shall continue to apply. Any increase in the Conversion regarding its Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantLimitation.

Appears in 1 contract

Samples: Loan and Security Agreement (Cytokinetics Inc)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon not less than 61 days’ prior notice to the CompanyCorporation (which notice may not be waived), may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Series D Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Series D Preferred Stock held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 1 contract

Samples: Shareholder Rights Agreement (NeuroMetrix, Inc.)

Beneficial Ownership Limitation. The Company Notwithstanding any provision herein to the contrary, Lenders, together with their Affiliates, shall not effect any exercise of this Warrant, and a Holder shall not have the right be permitted to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess a number of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number shares of Common Stock (other than shares that may be deemed beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is except for being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained in this Subsection 2.1(e)(iii)) (i) in excess of 9.99% of the number of shares of Common Stock then issued and outstanding, it being the intent of Borrower and Lenders that Lenders, together with their Affiliates, not be deemed at any time to have the power to vote or dispose of greater than 9.99% of the number of shares of Common Stock issued and outstanding at any time; provided, however, that Agent shall have the right, upon 61 days’ prior written notice to Borrower, to waive the 9.99% limitation of this subsection; or (ii) in excess of the Change of Control Cap (as determined in accordance with the rules and guidance of The NASDAQ Global Market). Notwithstanding anything contained herein beneficially owned by to the Holder or any contrary, Borrower shall not be permitted to issue to Lenders, and Lenders shall not be permitted to accept, shares of its Affiliates or Attribution Parties. Except as set forth Common Stock pursuant to a Borrower Conversion Election Notice if and to the extent such issuance, (A) when taken together with all other issuances pursuant to prior such notices, would result in the preceding sentenceissuance of more than 19.99% of the Common Stock outstanding as of immediately before the issuance (as calculated in accordance with the rules and guidance of The NASDAQ Global Market) (the “20% Issuance Cap”) or (B) would result in Lenders, for purposes together with their Affiliates, beneficially owning in excess of this Section 3.3.919.99% of the outstanding Common Stock or voting power of Borrower (as determined in accordance with the rules and guidance of The NASDAQ Global Market) (the “Change of Control Cap”) . As used herein, unless specifically indicated otherwise, beneficial ownership shall be calculated determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderamended. For purposes any reason at any time, upon written or oral request of this Section 3.3.9Agent, Borrower shall within one business day confirm orally and in determining writing to Agent the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number shares of Common Stock then outstanding. In any case, the number of issued and outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantgiven date.

Appears in 1 contract

Samples: Loan and Security Agreement (Celladon Corp)

Beneficial Ownership Limitation. The Company Notwithstanding anything to the contrary contained herein, the Issuer shall not effect the conversion of any exercise portion of this WarrantNote, and a the Holder shall not have the right to exercise convert any portion of a Warrantthis Note, pursuant to Section 3 or otherwisethe terms and conditions of this Note and any such conversion shall be null and void and treated as if never made, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseconversion, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), Parties collectively would beneficially own in excess of 9.99% (the Beneficial Ownership Limitation (as defined below)“Maximum Percentage”) of the number of shares of Common Stock outstanding immediately after giving effect to such conversion. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder and its Affiliates and the other Attribution Parties shall include the number of shares of Common Stock held by the Holder and all other Attribution Parties plus the number of shares of Common Stock issuable upon exercise conversion of such Warrant this Note with respect to which the determination of such determination sentence is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (iA) exercise conversion of the remaining, non-exercised unconverted portion of such Warrant this Note beneficially owned by the Holder or any of its Affiliates or the other Attribution Parties and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company Issuer (including, without limitation, any convertible notes or convertible preferred stock or warrants) beneficially owned by the Holder or any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Attribution Party subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesin this Section 22. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.9, 22 beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9Note, in determining the number of outstanding shares of Common StockStock the Holder may acquire upon the conversion of this Note without exceeding the Maximum Percentage, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (Ax) the CompanyIssuer’s most recent periodic Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the Commission, as the case may be; , (By) a more recent public announcement by the Company; Issuer or (C3) a more recent any other written notice by the Company Issuer or the transfer agent Transfer Agent (as defined in the Note Purchase Agreement) setting forth the number of shares of Common Stock outstandingoutstanding (the “Reported Outstanding Share Number”). Upon If the Issuer receives a conversion notice from the Holder at a time when the actual number of outstanding shares of Common Stock is less than the Reported Outstanding Share Number, the Issuer shall promptly notify the Holder in writing of the number of shares of Common Stock then outstanding and, to the extent that such conversion notice would otherwise cause the Holder’s beneficial ownership, as determined pursuant to this Section 22, to exceed the Maximum Percentage, the Holder must notify the Issuer of a reduced number of conversion shares to be issued pursuant to such conversion notice. For any reason at any time, upon the written or oral request of a the Holder, the Company Issuer shall within two one (1) Trading Days Day confirm in writing (including or by e-mail) electronic mail to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyIssuer, including such Warrantthis Note, by the Holder or its Affiliates or and any other Attribution Parties Party since the date as of which such number of outstanding Common Stock the Reported Outstanding Share Number was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to In the event that the issuance of any Warrantsshares of Common Stock to the Holder upon conversion of this Note results in the Holder and the other Attribution Parties being deemed to beneficially own, 9.99%) in the aggregate, more than the Maximum Percentage of the number of outstanding shares of Common Stock outstanding immediately after giving effect (as determined under Section 13(d) of the Exchange Act), the number of shares so issued by which the Holder’s and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum Percentage (the “Excess Shares”) shall be deemed null and void and shall be cancelled ab initio, and the Holder shall not have the power to vote or to transfer the issuance Excess Shares. For purposes of clarity, the shares of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice pursuant to the Company, may increase or decrease the Beneficial Ownership Limitation provisions terms of this Section 3.3.9, provided that the Beneficial Ownership Limitation Note in no event exceeds 9.99% excess of the number of Common Stock outstanding immediately after giving effect Maximum Percentage shall not be deemed to the issuance of Common Stock upon exercise of this Warrant held be beneficially owned by the Holder and for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the Exchange Act. No prior inability to convert this Note pursuant to this paragraph shall have any effect on the applicability of the provisions of this Section 3.3.9 shall continue paragraph with respect to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Companyany subsequent determination of convertibility. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 22 to the extent necessary to correct this paragraph (or any portion hereof) of this paragraph which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein beneficial ownership limitation contained in this Section 22 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations limitation contained in this paragraph may not be waived and shall apply to a successor holder of this WarrantNote.

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (Hut 8 Corp.)

Beneficial Ownership Limitation. The (i) Notwithstanding anything in this Warrant to the contrary, the Company shall not effect honor any exercise of this Warrant, and a Holder Warrantholder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that that, after giving effect to such issuance after an attempted exercise as set forth on the an applicable Notice of Exercise, the Holder such Warrantholder (together with the Holdersuch Warrantholder’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with the Holder Warrantholder’s for purposes of Section 13(d) or any Section 16 of the Holder’s Affiliates Exchange Act, and any other applicable regulations of the U.S. Securities and Exchange Commission (such Personsthe “Commission”), including any “group” of which the Warrantholder is a member (the foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below)Limitation. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder such Warrantholder and its Affiliates and Attribution Parties shall include the number of Common Stock Warrant Shares issuable upon exercise under the Notice of such Warrant Exercise with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (ia) exercise of the remaining, non-exercised unexercised portion of such any Warrant beneficially owned by the Holder such Warrantholder or any of its Affiliates or Attribution Parties Parties, and (iib) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, including any other securities warrants) beneficially owned by such Warrantholder or any of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.913, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act and any other applicable regulations of 1934the Commission. In addition, as amended (for purposes hereof, “group” has the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.913, in determining the number of outstanding shares of Common Stock, a Holder Warrantholder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ax) the Company’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (By) a more recent public announcement by the Company; Company that is filed with the Commission, or (Cz) a more recent written notice by the Company or the Company’s transfer agent to the Warrantholder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderWarrantholder (which may be by email), the Company shall shall, within two three (3) Trading Days thereof, confirm in writing to such Warrantholder (including by e-mailwhich may be via email) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the Company, including such exercise of this Warrant, by the Holder such Warrantholder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Warrantholder. The Company shall be entitled to rely on representations made to it by the Warrantholder in any Notice of Exercise regarding its Beneficial Ownership Limitation. The Warrantholder acknowledges that the Warrantholder is solely responsible for any schedules or statements required to be filed by it in accordance with Section 13(d) or Section 16(a) of the Exchange Act. (ii) The “Beneficial Ownership Limitation” shall initially be 4.994.999% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise pursuant to such Notice of a Warrant. The HolderExercise (to the extent permitted pursuant to this Section 13); provided, upon however, that by written notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation which will not be effective until the 61st day after such notice is delivered given by the Warrantholder to the Company. The , the Warrantholder may waive or amend the provisions of this paragraph shall be construed Section 13 to change the Beneficial Ownership Limitation to any other number, not to exceed 19.99% of the outstanding shares of Common Stock, and implemented in a manner otherwise than in strict conformity with the terms provisions of this Section 3.3.9 13 shall continue to correct this paragraph (apply. Upon any such waiver or any portion hereof) which may be defective or inconsistent with amendment to the intended Beneficial Ownership Limitation, the Beneficial Ownership Limitation herein contained may not be further waived or to make changes or supplements necessary or desirable to properly give effect to such limitationamended by the Warrantholder without first providing the minimum written notice required by the immediately preceding sentence. The limitations contained in this paragraph shall apply Notwithstanding the foregoing, at any time following notice of a Change of Control Transaction under Section 12(iv) with respect to a successor holder Change of Control Transaction that is pursuant to any tender offer or exchange offer (by the Company or another Person (other than the Warrantholder or any Affiliate of the Warrantholder)), the Warrantholder may waive or amend the Beneficial Ownership Limitation effective immediately upon written notice to the Company and may reinstitute a Beneficial Ownership Limitation at any time thereafter effective immediately upon written notice to the Company. (iii) Notwithstanding the provisions of this Sxxxxxx 00, xxxx of the provisions of this Section 13 shall restrict in any way the number of shares of Common Stock which the Warrantholder may receive or beneficially own in order to determine the amount of securities or other consideration that the Warrantholder may receive in the event of a Change of Control Transaction as contemplated in Section 12 of this Warrant.

Appears in 1 contract

Samples: Warrant Agreement (Plug Power Inc)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary set forth in the Certificate of Designation, the Company shall not effect any exercise conversion of this Warrantany share of Series A Preferred Stock, and a Holder Purchaser shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwiseits Series A Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as attempted conversion set forth on the an applicable Notice of ExerciseConversion (as defined in the Certificate of Designation) with respect to the Series A Preferred Stock, the Holder such Purchaser (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holdersuch Purchaser’s Affiliates or any other Person who would be a beneficial owner of Common Stock beneficially owned by the Purchaser for purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable rules and regulations of the Commission, including any “group” of which the Purchaser is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder such Purchaser and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series A Preferred Stock subject to the Notice of Conversion or the automatic conversion, as applicable, with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series A Preferred Stock beneficially owned by the Holder such Purchaser or any of its Affiliates or Attribution Parties Parties, and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, beneficially owned by such Purchaser or any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to and would exceed a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94.10, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the applicable rules and regulations promulgated thereunderof the Commission, it being acknowledged by and the Holder that terms “beneficial ownership” and “beneficially own” have the Company is not representing meanings ascribed to such terms therein. In addition, for purposes hereof, “group” has the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the applicable rules and regulations promulgated thereunderof the Commission. For purposes of this Section 3.3.94.10, in determining the number of outstanding shares of Common Stock, a Holder Purchaser may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the Company’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Company that is filed with the Commission, or (Ciii) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 1 contract

Samples: Securities Purchase Agreement (Selecta Biosciences Inc)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary set forth in the Series A Preferred Share Terms, the Company shall not effect any exercise redesignation of this Warrantthe Series A Preferred Shares, and a Holder the Purchaser shall not have the right to exercise redesignate any portion of a Warrant, pursuant to Section 3 or otherwiseits Series A Preferred Shares, to the extent that that, after giving effect to such issuance after exercise as an attempted redesignation set forth on the an applicable Notice of ExerciseConversion (as defined in the Series A Preferred Share Terms) with respect to the Series A Preferred Shares, the Holder such Purchaser (together with the Holdersuch Purchaser’s Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Ordinary Shares would be aggregated with the Holder Purchaser’s for purposes of Section 13(d) or any Section 16 of the Holder’s Affiliates (such PersonsExchange Act and the applicable rules and regulations of the Commission, including any Attribution Parties”)), group” of which the Purchaser is a member) would beneficially own a number of Ordinary Shares in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the aggregate number of Common Stock Ordinary Shares beneficially owned by the Holder such Purchaser and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise Ordinary Shares created by the consolidation and redesignation of such Warrant the Series A Preferred Shares subject to the Notice of Conversion with respect to which the determination of such determination sentence is being made, but shall exclude the number of Common Stock Ordinary Shares which would be are creatable or issuable upon (i) exercise redesignation of the remaining, non-exercised portion of such Warrant unconverted Series A Preferred Shares beneficially owned by the such Holder or any of its Affiliates or Attribution Parties Affiliates, and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by such Purchaser or any of its Affiliates (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stockconvertible notes, including, without limitation, any debt, preferred stock, right, option, warrant convertible stock or other instrument warrants) that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94.14, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the applicable rules and regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the applicable rules and regulations promulgated thereunderof the Commission. For purposes of this Section 3.3.94.14, in determining the number of outstanding Common StockOrdinary Shares, a Holder Purchaser may rely on the number of outstanding Common Stock Ordinary Shares as reflected in (Ai) the Company’s most recent periodic Form 10-K, Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Company or (Ciii) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock Ordinary Shares then outstanding. Upon For any reason at any time, upon the written or oral request of a HolderPurchaser (which may be by email), the Company shall shall, within two Trading (2) Business Days of such request, confirm orally and in writing to such Purchaser (including which may be by e-mailemail) to the Holder the number of Common Stock Ordinary Shares then outstanding. In any case, the number of outstanding Common Stock Ordinary Shares shall be determined after giving effect to the any actual conversion or exercise of securities of the Company, including such WarrantSeries A Preferred Shares, by the Holder such Purchaser or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock Ordinary Shares was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall initially be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock the Ordinary Shares outstanding immediately after giving effect to the creation or issuance of Common Stock issuable upon exercise Ordinary Shares pursuant to such Notice of a WarrantConversion (to the extent permitted pursuant to this Section 4.14). The Holder, upon Company shall be entitled to rely on representations made to it by the Purchaser in any Notice of Conversion regarding its Beneficial Ownership Limitation. By written notice to the Company, a Purchaser may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.9, 19.9% specified in such notice; provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any (i) any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the Company. The provisions of this paragraph Section 4.14 shall be construed construed, corrected and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 so as to correct this paragraph (or any portion hereof) which may be defective or inconsistent with effectuate the intended Beneficial Ownership Limitation herein contained and the Ordinary Shares underlying the Shares in excess of the Beneficial Ownership Limitation shall not be deemed to be beneficially owned by the Purchaser for any purpose including for purposes of Section 13(d) or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder Rule 16a-1(a)(1) of this Warrantthe Exchange Act.

Appears in 1 contract

Samples: Securities Purchase Agreement (Avadel Pharmaceuticals PLC)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary contained herein, the Company shall not effect the exercise of any exercise portion of this Warrant, and a the Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwisethe terms and conditions of this Warrant and any such exercise shall be null and void and treated as if never made, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), Parties collectively would beneficially own in the aggregate in excess of 9.99% (the Beneficial Ownership Limitation (as defined below)“Maximum Percentage”) of the number of shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder and its Affiliates and the other Attribution Parties shall include the number of shares of Common Stock held by the Holder and all other Attribution Parties plus the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which the determination of such determination sentence is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (iA) exercise of the remaining, non-exercised unexercised portion of such this Warrant beneficially owned by the Holder or any of its Affiliates or the other Attribution Parties and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any convertible notes or convertible preferred stock or warrants, including any other securities of Warrants) beneficially owned by the Company which would entitle the holder thereof to acquire at Holder or any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Attribution Party subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesin this Section 1(f). Except as set forth in the preceding sentence, for For purposes of this Section 3.3.91(f), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange 1934 Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder). For purposes of this Section 3.3.9Warrant, in determining the number of outstanding shares of Common StockStock the Holder may acquire upon the exercise of this Warrant without exceeding the Maximum Percentage, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (Ax) the Company’s most recent periodic Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the CommissionSecurities and Exchange Commission (the “SEC”), as the case may be; , (By) a more recent public announcement by the Company; Company or (Cz) a more recent any other written notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstandingoutstanding (the “Reported Outstanding Share Number”). Upon If the Company receives an Exercise Notice from the Holder at a time when the actual number of outstanding shares of Common Stock is less than the Reported Outstanding Share Number, the Company shall (i) notify the Holder in writing of the number of shares of Common Stock then outstanding and, to the extent that such Exercise Notice would otherwise cause the Holder’s beneficial ownership, as determined pursuant to this Section 1(f), to exceed the Maximum Percentage, the Holder must notify the Company of a reduced number of Warrant Shares to be purchased pursuant to such Exercise Notice (the number of shares by which such purchase is reduced, the “Reduction Shares”) and (ii) as soon as reasonably practicable, the Company shall return to the Holder any exercise price paid by the Holder for the Reduction Shares. For any reason at any time, upon the written or oral request of a the Holder, the Company shall within two Trading Days one (1) Business Day confirm orally and in writing (including or by e-mail) electronic mail to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such this Warrant, by the Holder or its Affiliates or and any other Attribution Parties Party since the date as of which such number of outstanding Common Stock the Reported Outstanding Share Number was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to In the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to event that the issuance of Common Stock issuable to the Holder upon exercise of this Warrant results in the Holder and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage of the number of outstanding shares of Common Stock (as determined under Section 13(d) of the 1934 Act), the number of shares so issued by which the Holder’s and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum Percentage (the “Excess Shares”) shall be deemed null and void and shall be cancelled ab initio, and the Holder shall not have the power to vote or to transfer the Excess Shares. As soon as reasonably practicable after the issuance of the Excess Shares has been deemed null and void, the Company shall return to the Holder the exercise price paid by the Holder for the Excess Shares. Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions Maximum Percentage to any other percentage not in excess of this Section 3.3.9, 9.99% as specified in such notice; provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any (i) any such increase in the Beneficial Ownership Limitation Maximum Percentage will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCompany and (ii) any such increase or decrease will apply only to the Holder and the other Attribution Parties and not to any other holder of Warrants that is not an Attribution Party of the Holder. For purposes of clarity, the shares of Common Stock issuable pursuant to the terms of this Warrant in excess of the Maximum Percentage shall not be deemed to be beneficially owned by the Holder for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the 1934 Act. No prior inability to exercise this Warrant pursuant to this paragraph shall have any effect on the applicability of the provisions of this paragraph with respect to any subsequent determination of exercisability. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 1(f) to the extent necessary to correct this paragraph (or any portion hereof) of this paragraph which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein beneficial ownership limitation contained in this Section 1(f) or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations limitation contained in this paragraph may not be waived and shall apply to a successor holder of this Warrant. The Holder hereby acknowledges and agrees that the Company shall be entitled to rely on the representations and other information set forth in any Exercise Notice and shall not be required to independently verify whether any exercise of this Warrant would cause the Holder (together with the other Attribution Parties) to collectively beneficially own in excess of the Maximum Percentage of the number of shares of Common Stock outstanding after giving effect to such exercise or otherwise trigger the provisions of this Section 1(f).

Appears in 1 contract

Samples: Warrant to Purchase Common Stock (Mohawk Group Holdings, Inc.)

Beneficial Ownership Limitation. The Company Notwithstanding anything in this Certificate of Designation to the contrary, the Corporation shall not effect any exercise conversion of this Warrantthe Series C Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series C Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s 's Affiliates, and any other Persons acting as a group together Person whose beneficial ownership of Common Stock would be aggregated with that of the Holder or any for purposes of Section 13(d) of the Holder’s Affiliates (such PersonsExchange Act and the applicable regulations of the Commission, “Attribution Parties”)), including any "group" of which the Holder is a member) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Series C Preferred Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(b), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.96(b), in determining the number of outstanding shares of Common Stock, absent actual knowledge of such Holder to the contrary, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the Company’s Corporation's most recent periodic or annual report filed filing with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Corporation that is filed with the Commission, or (C) a more recent written notice by the Company Corporation or the Corporation's transfer agent to the Holder setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number shares of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The "Beneficial Ownership Limitation" shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number shares of Common Stock outstanding immediately after giving effect pursuant to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantMandatory Conversion.

Appears in 1 contract

Samples: Securities Purchase Agreement (Bancorp, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary set forth in the Certificates of Designation, the Company shall not effect any conversion of any share of Preferred Shares or issue any Warrant Shares upon exercise of this Warrantthe Warrants, and a Holder Purchaser shall not have the right to exercise convert or exercise, as applicable, any portion of a Warrant, pursuant to Section 3 or otherwiseits Securities, to the extent that that, after giving effect to such issuance after attempted conversion or exercise as set forth on the an applicable Notice of ExerciseConversion (as defined in the Certificates of Designation) and Notice of Exercise (as defined in the Warrant with respect to the Securities, the Holder such Purchaser (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holdersuch Purchaser’s Affiliates or any other Person who would be a beneficial owner of Common Stock beneficially owned by the Purchaser for purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable rules and regulations of the Commission, including any “group” of which the Purchaser is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder such Purchaser and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion or exercise, as applicable, of such the Securities subject to the Notice of Conversion or Automatic Conversion (as defined in the Certificates of Designation) or Notice of Exercise (as defined in the Warrant Agreement), as applicable, with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Securities beneficially owned by the Holder such Purchaser or any of its Affiliates or Attribution Parties Parties, and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, beneficially owned by such Purchaser or any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to and would exceed a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94.11, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the applicable rules and regulations promulgated thereunderof the Commission, it being acknowledged by and the Holder that terms “beneficial ownership” and “beneficially own” have the Company is not representing meanings ascribed to such terms therein. In addition, for purposes hereof, “group” has the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the applicable rules and regulations promulgated thereunderof the Commission. For purposes of this Section 3.3.94.11, in determining the number of outstanding shares of Common Stock, a Holder Purchaser may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the Company’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Company that is filed with the Commission, or (Ciii) a more recent written notice by the Company or the Company’s transfer agent to the Purchaser setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number shares of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.then

Appears in 1 contract

Samples: Securities Purchase Agreement (Avalo Therapeutics, Inc.)

Beneficial Ownership Limitation. The Company Notwithstanding anything herein to the contrary, the Corporation shall not effect any exercise conversion of this Warrantthe Series A Non-Voting Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Series A Non-Voting Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as an attempted conversion set forth on the an applicable Notice of ExerciseConversion, the such Holder (together with any other Person whose beneficial ownership of Common Stock would be aggregated with the Holder’s Affiliatesfor purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable regulations of the Commission, and including any other Persons acting as a group together with “group” of which the Holder or any of is a member (the Holder’s Affiliates (such Personsforegoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below)Limitation. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series A Non-Voting Preferred Stock subject to the Notice of Conversion with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (iA) exercise conversion of the remaining, nonunconverted Series A Non-exercised portion of such Warrant Voting Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties Parties, and (iiB) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, Corporation beneficially owned by such Holder or any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for For purposes of this Section 3.3.96.3, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and applicable regulations promulgated thereunderof the Commission. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion applicable regulations of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderCommission. For purposes of this Section 3.3.96.3, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (A) the CompanyCorporation’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Corporation that is filed with the Commission, or (C) a more recent written notice by the Company Corporation or the Corporation’s transfer agent to the Holder setting forth the number of shares of Common Stock then outstanding. Upon the written request of a HolderHolder (which may be by email), the Company shall Corporation shall, within two three (3) Trading Days thereof, confirm in writing to such Holder (including by e-mailwhich may be via email) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the CompanyCorporation, including such Warrantshares of Series A Non-Voting Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall initially be 4.99between 4.9% and 19.9% (or, upon election by a and the Holder prior shall have the discretion to set the issuance of any Warrants, 9.99%percentage within this range) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise pursuant to such Notice of a WarrantConversion (to the extent permitted pursuant to this Section 6.3). The HolderCorporation shall be entitled to rely on representations made to it by the Holder in any Notice of Conversion regarding its Beneficial Ownership Limitation. Notwithstanding the foregoing, upon by written notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation (i) which will not be effective until the 61st sixty-first (61st) day after such written notice is delivered to the Corporation, the Holder may reset the Beneficial Ownership Limitation percentage to a higher percentage, not to exceed 19.9%, to the extent then applicable and (ii) which will be effective immediately after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with Corporation, the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which Holder may be defective or inconsistent with reset the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply percentage to a successor holder lower percentage. Upon such a change by a Holder of the Beneficial Ownership Limitation, the Beneficial Ownership Limitation may not be further amended by such Holder without first providing the minimum notice required by this WarrantSection 6.3. Notwithstanding the foregoing, at any time following notice of a Fundamental Transaction, the Holder may waive and/or change the Beneficial Ownership Limitation effective immediately upon written notice to the Corporation and may reinstitute a Beneficial Ownership Limitation at any time thereafter effective immediately upon written notice to the Corporation.

Appears in 1 contract

Samples: Merger Agreement (Aprea Therapeutics, Inc.)

Beneficial Ownership Limitation. The Company Notwithstanding any other provision of this Agreement, the Investor shall not effect any exercise of this Warrantpurchase or acquire, and a Holder shall not or be obligated or have the right to exercise purchase or acquire, any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number pursuant to this Agreement which, when aggregated with all other shares of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant then beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof as calculated pursuant to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned Rule 13d-3 promulgated thereunder) by the Holder together with any Affiliates Investor and Attribution Parties) and of which portion of a Warrant is exercisable shall be its Affiliates, would result in the sole discretion beneficial ownership by the Investor of more than 4.99% of the Holder, then issued and outstanding shares of Common Stock (the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and ”). If the Company shall have no obligation issues a VWAP Purchase Notice with respect to verify a VWAP Purchase or confirm an Alternative VWAP Purchase Notice with respect to an Alternative VWAP Purchase, in any case that would cause the accuracy aggregate number of such determination. In addition, a determination shares of Common Stock then beneficially owned (as calculated pursuant to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations Rule 13d-3 promulgated thereunder. For purposes ) by the Investor and its Affiliates to exceed the Beneficial Ownership Limitation, such VWAP Purchase Notice and such Alternative VWAP Purchase Notice (as applicable) shall be void ab initio to the extent of this Section 3.3.9, in determining the amount by which the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number shares of Common Stock outstandingotherwise issuable pursuant to such VWAP Purchase Notice or such Alternative VWAP Purchase Notice (as applicable), together with all shares of Common Stock then beneficially owned (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder) by the Investor and its Affiliates, would exceed the Beneficial Ownership Limitation. Upon the written or oral request of a Holderthe Investor, the Company shall within two promptly (but not later than the next Trading Days Day) confirm orally or in writing (including by e-mail) to the Holder Investor the number of shares of Common Stock then outstanding. In any case, The Investor and the number of outstanding Common Stock Company shall be determined after giving effect each cooperate in good faith in the determinations required hereby and the application hereof. The Investor’s written certification to the conversion or exercise of securities Company of the Company, including such Warrant, by applicability of the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation, and the resulting effect thereof hereunder at any time, shall be 4.99% (or, upon election by a Holder prior conclusive with respect to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise applicability thereof and such result absent manifest error. Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Investor may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other amount of this Section 3.3.9, provided that the Beneficial Ownership Limitation Common Stock not in no event exceeds excess of 9.99% of the number then issued and outstanding shares of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any as specified in such notice; provided that any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such written notice is delivered to the Company. The provisions of this paragraph Section 2.5 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 2.5 to the extent necessary to correct this paragraph Section 2.5 (or any portion hereofof this Section 2.5) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained in this Section 2.5 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantSection 2.5 may not be waived by the Company or the Investor.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Arcimoto Inc)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a A Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Warrants to the extent that after giving effect to such the issuance of Warrant Shares after exercise as set forth on the applicable Notice of Exercise, the such Holder or a person holding through such Holder (together with the such Holder’s Affiliatesor person’s Affiliates (as defined in Rule 405 under the Securities Act), and any other Persons persons acting as a group together with the that Holder or person or any of the Holderthat Xxxxxx’s Affiliates (such Persons, “Attribution Parties”)or person’s Affiliates), would beneficially own in excess of the 4.99% (“Beneficial Ownership Limitation (as defined below)Limitation”) of the Company’s Common Stock. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties a person shall include the number of Common Stock Warrant Shares that would be owned by that person issuable upon exercise of such Warrant the Warrants with respect to which such determination is being made, but shall exclude the number of shares of Common Stock (a) which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant Warrants beneficially owned by the Holder that person or any of its Affiliates or Attribution Parties and (iib) exercise or conversion of the unexercised or non-converted portion of underlying any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant held by such Holder or other instrument its Affiliates that is at any time are exercisable or convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) and subject to a limitation on conversion or exercise that is analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesin this Section 3.3.9. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that neither the Warrant Agent nor the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder or beneficial owner is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a such Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion the number of a Warrant is Warrants that are exercisable, in each case subject to and neither the Beneficial Ownership Limitation, and Warrant Agent nor the Company shall have no any obligation to verify or confirm the accuracy of such determinationdetermination and neither of them shall have any liability for any error made by the Holder or any other person. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding shares of Common Stock, a Holder or other person may rely on the number of outstanding shares of Common Stock as reflected in (Aa) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (Bb) a more recent public announcement by the Company; Company or (Cc) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon For any reason at any time, upon the written or oral request of a person that represents that it is or is acting on behalf of a Holder, the Company shall shall, within two (2) Trading Days Days, confirm orally or in writing (including or by e-mail) mail to the Holder that person the number of shares of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.99.99% as specified in such notice, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any any increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCompany and any such increase or decrease will apply only to the Holder and its Affiliates and not to any other holder of Warrants. The provisions of this paragraph Section 3.3.9 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph subsection (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 1 contract

Samples: Warrant Agent Agreement (Aclarion, Inc.)

Beneficial Ownership Limitation. The Parties hereby agree that as of August 19, 2011 all Issued Securities and all rights to obtain any Common Stock issued or issuable by RPC to Plaintiffs and all Common Stock currently owned by the Plaintiffs, including Settlement Shares issued in connection with the Initial Share Conversions (collectively the “RPC Securities”) are hereby subject to the following: (a) Notwithstanding anything to the contrary contained in this Final Agreement or the Notes, the Company shall not effect any exercise of this Warrantany warrant, conversion of any note or issuance of its shares of Common Stock, and a Holder shall not have the right to exercise any portion of a Warrantany warrant, convert any Note or receive any additional shares of Common Stock, pursuant to Section 3 any RPC Security and the Company may not issue any shares of Common Stock on any Installment Payment Date or otherwiseotherwise under the Notes or pursuant to this Final Agreement, to the extent (but only to the extent) that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of its Affiliates or any person(s) acting as a “group” with the Holder’s Affiliates (such Persons, “Attribution Parties”))Holder or its Affiliates, would beneficially own be the Beneficial Owner(s) of in excess of the Beneficial Ownership Limitation (as defined below)Maximum Percentage. For purposes of To the foregoing sentenceextent the above limitation applies, the number determination of Common Stock beneficially owned by whether the Holder and its Affiliates and Attribution Parties Notes shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being madebe convertible or any warrants shall be exercisable (vis-à-vis other convertible, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially exercisable or exchangeable securities owned by the Holder or any of its Affiliates or Attribution Parties Affiliates) and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (includingwhich such RPC Securities shall be convertible, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially as among all such securities owned by the Holder and its Affiliates) shall, subject to such Maximum Percentage limitation, be determined on the basis of the first submission to the Company for conversion, exercise or exchange (as the case may be). No prior inability to convert the Notes, exercise warrants or to issue shares of Common Stock, pursuant to this Section 8 shall have any effect on the applicability of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes provisions of this Section 3.3.98 with respect to any subsequent determination of convertibility or exercise. (b) For any reason at any time, beneficial ownership shall be calculated in accordance with Section 13(d) upon the written or oral request of the Securities Exchange Act Holder, the Company shall within two (2) Trading Days confirm orally and in writing to the Holder the number of 1934, as amended shares of Common Stock then outstanding. (the “Exchange Act”c) and the rules and regulations promulgated thereunder, it being It is expressly acknowledged by the Holder that the Company is not representing to the Holder that such any calculation by the Holder of its Beneficial Ownership or the Maximum Percentage is in compliance with Section 13(d) of the Exchange Act or the rules and regulations thereunder, and the Holder is shall be solely responsible for the accuracy of any schedules required to be filed in accordance therewith. To Delivery of all shares of Common Stock to each Holder, its Affiliates and any other persons acting as a group (as defined in Section 13(d) of the extent Exchange Act) with such Holder will be subject to the Maximum Percentage. (d) In the event the exercise of the rights described in this Final Agreement or in the Notes would or could result in the issuance of an amount of Common Stock that would exceed the limitation contained foregoing Maximum Percentage that may be issued to a Plaintiff calculated in the manner described in this Section 3.3.9 applies8, then the issuance of such additional shares of Common Stock to such Plaintiff will be deferred in whole or in part until such time as such Plaintiff is able to Beneficially Own such Common Stock without exceeding the Maximum Percentage set forth calculated in the manner described in this Section 8. For all purposes of this Final Agreement and the Notes, the determination calculation of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and amount of which portion Common Stock that would be deliverable, but for the application of a Warrant is exercisable the provisions of this Section 8, shall be in the sole discretion made as of the Holder, and the submission of a Notice of Exercise shall be deemed date otherwise required to be calculated hereunder or under the Holder’s determination Notes, notwithstanding the postponement of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy delivery of such determination. In additionCommon Stock. (e) For all purposes of this Section 8, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.98, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities RPC Securities or issuance of shares of Common Stock pursuant to the Company, including such WarrantSettlement Agreement and this Final Agreement, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. . (f) The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph 8 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 8 to correct this paragraph Section 8 (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation Maximum Percentage herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph Section 8 shall apply to a successor holder in interest to the Company and any successor Holder of this Warrantany of the RPC Securities.

Appears in 1 contract

Samples: Settlement Agreement (RADIENT PHARMACEUTICALS Corp)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary set forth in this Debenture, at no time may the Company shall not effect any exercise of this Warrant, and a issue to the Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Debenture Shares to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseissuance, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.95(h), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 5(h) applies, the determination of whether a Warrant is exercisable shares of Common Stock may be issued pursuant to this Debenture (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Holder Redemption Notice of Exercise (at a time when this Debenture is Stock On) shall be deemed to be the Holder’s determination of whether a Warrant is exercisable shares of Common Stock may be issued pursuant to this Debenture (in relation to other securities owned by the Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation. In addition, the Holder may notify the Company that the issuance of any Debenture Shares would cause the Holder to exceed the Beneficial Ownership Limitation, in which case, the Company shall only issue to the Holder such number of shares of Common Stock that would not cause the Holder to exceed the Beneficial Ownership (as determined by the Holder in accordance with this Section 5(h)). To ensure compliance with this restriction, the Holder will be deemed to represent to the Company each time it delivers a Holder Redemption Notice (at a time that this Debenture is Stock On) that such Holder Redemption Notice has not violated the restrictions set forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.95(h), in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; , or (Ciii) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two (2) Trading Days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion issuance of shares of Common Stock under this Debenture or exercise of securities of the Company, including such Warrant, by Warrants to the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.994.9% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the applicable issuance of shares of Common Stock issuable upon exercise of a Warrantpursuant to this Debenture held by the Holder. The Holder, upon not less than sixty-one (61) days’ prior notice to the CompanyBorrowers, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.95(h), provided that the Beneficial Ownership Limitation in no event exceeds 9.999.9% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise pursuant to the terms of this Warrant held by the Holder Debenture and the Beneficial Ownership Limitation provisions of this Section 3.3.9 shall 5(h)shall continue to apply. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st sixty first (61st) day after such notice is delivered to the Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 5(h) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantDebenture.

Appears in 1 contract

Samples: Security Agreement (22nd Century Group, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything herein to the contrary, the Company shall not effect any the exercise of this Warrant, and a the Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that that, after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the Holder such Person (together with such Person’s affiliates, and any other Person whose beneficial ownership of Common Stock would be aggregated with the Holder’s Affiliatesfor purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the applicable rules and regulations of the Securities and Exchange Commission (the “SEC”), including any other Persons acting as a group together with “group” of which the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), is a member) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder such Person and its Affiliates and Attribution Parties affiliates shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which the determination of such determination sentence is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise of the remaining, non-exercised unexercised portion of such this Warrant beneficially owned by the Holder or any of such Person and its Affiliates or Attribution Parties affiliates and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by such Person and its affiliates (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stockconvertible notes, including, without limitation, any debt, preferred stock, right, option, warrant convertible stock or other instrument warrants) that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.91(g), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) , and the applicable rules and regulations promulgated thereunderof the SEC. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the applicable rules and regulations promulgated thereunderof the SEC. For purposes of this Section 3.3.9Warrant, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A1) the Company’s most recent periodic Form 10-K, Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the CommissionSEC, as the case may be; , (B2) a more recent public announcement by the Company; Company or (C3) a more recent written notice by the Company or the transfer agent Transfer Agent to the Holder setting forth the number of shares of Common Stock then outstanding. Upon For any reason at any time, upon the written or oral request of a the Holder, the Company shall shall, within two Trading (2) Business Days of such request, confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the Company, including such this Warrant, by the Holder or and its Affiliates or Attribution Parties affiliates since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall be 4.999.98% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon pursuant to such Exercise Notice (to the extent permitted pursuant to this Section 1(g)). If the Holder has delivered an Exercise Notice, the Company shall be entitled to assume that such exercise will not result in the Holder exceeding the Beneficial Ownership Limitation as a result of a Warrantthe exercise contemplated by such Exercise Notice. The Holder, upon [By written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.9, 19.9% specified in such notice; provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any (i) any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the Company. , and (ii) any such increase or decrease will apply only to the Holder.]2 The provisions of this paragraph Section 1(g) shall be construed construed, corrected and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 so as to correct this paragraph (or any portion hereof) which may be defective or inconsistent with effectuate the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 1 contract

Samples: Warrant to Purchase Common Stock (Biodel Inc)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary contained herein, the Company shall not effect any the exercise of this Warrant, and a the Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the Holder such Person (together with the Holdersuch Person’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of 4.99% (the Beneficial Ownership Limitation (as defined below)“Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder such Person and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which the determination of such determination sentence is being made, but shall exclude the number shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised unexercised portion of such this Warrant beneficially owned by the Holder or any of such Person and its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by such Person and its Attribution Parties (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, convertible notes or convertible preferred stock, right, option, warrant stock or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9Warrant, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A1) the Company’s most recent periodic Form 10-K, Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the Securities and Exchange Commission, as the case may be; , (B2) a more recent public announcement by the Company; Company or (C3) a more recent written any other notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon For any reason at any time, upon the written or oral request of a the Holder, the Company shall within two Trading Days one (1) Business Day confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrantthe Warrants, by the Holder or and its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon By written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions Maximum Percentage to any other percentage not in excess of this Section 3.3.9, 9.99% specified in such notice; provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any (i) any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the Company, and (ii) any such increase or decrease will apply only to the Holder and its Attribution Parties and not to any other holder of warrants. For the avoidance of doubt, to the extent the limitation set forth in this Section 1(g) applies, the determination (i) of whether the exercise of this Warrant may be effected (vis-a-vis other Options or Convertible Securities owned by the Holder or any of its Attribution Parties) and (ii) of which such Options or Convertible Securities shall be convertible, exercisable or exchangeable (as the case may be, as among all such securities owned by the Holder) shall, subject to such Maximum Percentage limitation, be determined on the basis of the first submission to the Company for conversion, exercise or exchange (as the case may be). The provisions of this paragraph shall be construed and implemented in a manner otherwise other than in strict conformity with the terms of this Section 3.3.9 1(g) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Appears in 1 contract

Samples: Warrant Agreement (CareDx, Inc.)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliatesaffiliates, and any other Persons persons acting as a group together with the such Holder or any of the such Holder’s Affiliates affiliates (such Personspersons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series D Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the such Holder or any of its Affiliates affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.95(f), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 5(f) applies, the determination of whether a Warrant the Series D Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable series D Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Series D Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Series Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.95(f), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two one Trading Days Day confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Series D Preferred Stock, by the such Holder or its Affiliates affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrantsshares of Series D Preferred Stock, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 5(F) applicable to its series D Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Series D Preferred Stock held by the Holder and the provisions of this Section 3.3.9 5(f) shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 5(f) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 1 contract

Samples: Certificate of Designation (Authentic Holdings, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything herein to the contrary, the Company shall not effect any the exercise of this Warrant, and a the Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that that, after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the Holder such Person (together with such Person’s affiliates, and any other Person whose beneficial ownership of Common Stock would be aggregated with the Holder’s Affiliatesfor purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the applicable rules and regulations of the Securities and Exchange Commission (the “SEC”), including any other Persons acting as a group together with “group” of which the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), is a member) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder such Person and its Affiliates and Attribution Parties affiliates shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which the determination of such determination sentence is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise of the remaining, non-exercised unexercised portion of such this Warrant beneficially owned by the Holder or any of such Person and its Affiliates or Attribution Parties affiliates and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by such Person and its affiliates (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stockconvertible notes, including, without limitation, any debt, preferred stock, right, option, warrant convertible stock or other instrument warrants) that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.91(g), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) , and the applicable rules and regulations promulgated thereunderof the SEC. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the applicable rules and regulations promulgated thereunderof the SEC. For purposes of this Section 3.3.9Warrant, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A1) the Company’s most recent periodic Form 10-K, Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the CommissionSEC, as the case may be; , (B2) a more recent public announcement by the Company; Company or (C3) a more recent written notice by the Company or the transfer agent Transfer Agent to the Holder setting forth the number of shares of Common Stock then outstanding. Upon For any reason at any time, upon the written or oral request of a the Holder, the Company shall shall, within two Trading (2) Business Days of such request, confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the Company, including such this Warrant, by the Holder or and its Affiliates or Attribution Parties affiliates since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall be 4.999.98% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon pursuant to such Exercise Notice (to the extent permitted pursuant to this Section 1(g)). If the Holder has delivered an Exercise Notice, the Company shall be entitled to assume that such exercise will not result in the Holder exceeding the Beneficial Ownership Limitation as a result of a Warrantthe exercise contemplated by such Exercise Notice. The Holder, upon [By written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.9, 19.9% specified in such notice; provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any (i) any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-fifth (65th) day after such notice is delivered to the Company. , and (ii) any such increase or decrease will apply only to the Holder.]2 The provisions of this paragraph Section 1(g) shall be construed construed, corrected and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 so as to correct this paragraph (or any portion hereof) which may be defective or inconsistent with effectuate the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 1 contract

Samples: Warrant Agreement (Biodel Inc)

Beneficial Ownership Limitation. The (a) No Holder listed on Schedule 4.3 hereto shall request that any of the Notes be converted, and the Company shall not effect the conversion of any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Notes to the extent that that, after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseconversion, the such Holder (together with the such Holder’s Affiliatesaffiliates, and any other Persons person or entity acting as a group together with the such Holder or any of the such Holder’s Affiliates affiliates (such Personscollectively, the Attribution Concert Parties”)), would beneficially own Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Concert Parties shall include the number of Common Stock Conversion Shares issuable upon exercise conversion of such Warrant the portion of the Notes with respect to which such determination is being made, but shall exclude the number of Common Stock Conversion Shares which would be issuable upon (iA) exercise conversion of the remaining, non-exercised remaining portion of such Warrant the Notes beneficially owned by the such Holder or any of its Affiliates or Attribution Concert Parties and (iiB) conversion or exercise or conversion of the unexercised or non-converted unconverted portion of any other loan to or securities of the Company (including, without limitation, or any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)successor thereto) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the such Holder or any of its Affiliates or Attribution Concert Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.94.3, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) , and the rules and regulations promulgated thereunder, it being acknowledged by the each Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 4.3 applies, the determination of whether and the extent to which any of the Notes may be converted (in relation to other loans or securities owned by the Holder together with any affiliates) shall be made in good faith by the Holder in consultation with its own counsel, and a Warrant is exercisable request that all or a portion of the Notes beneficially owned by such Holder be converted shall be deemed to be the Holder’s determination that such conversion (in relation to other securities owned by the Holder together with any Affiliates and Attribution Concert Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together compliance with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitationthis Section 4.3, and the Company shall not have no any obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.94.3, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (Ax) the Company’s (or its successor’s) most recent periodic or annual report filed with the Commissionreport, as the case may be; , filed with the SEC (By) a more recent public announcement by the Company; Company (or its successor) or (Cz) a more recent written any other notice by the Company or the Company’s transfer agent (or its successor or successor’s transfer agent) setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holderany Holder listed on Schedule 4.3 hereto, the Company shall within two Trading Days business days confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of loans or securities of the Company, including such Warrantthe Notes, by the such Holder or its Affiliates or Attribution Concert Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of Common Stock the Conversion Shares issuable upon exercise conversion of a Warrantany of the Notes. The HolderAny Holder listed on Schedule 4.3 hereto, upon not less than 61 days’ prior notice to the Company, may increase or decrease (including, for the avoidance of doubt, to 0%) the percentage constituting the Beneficial Ownership Limitation provisions of this Section 3.3.9Limitation, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to applyapply to such increased or decreased Beneficial Ownership Limitation. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph Section 4.3 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 hereof in order to correct this paragraph such terms (or any portion hereofthereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph Section 4.3 shall apply to any successor to any Holder listed on Schedule 4.3 hereto. (b) Notwithstanding the foregoing, the limitations contained in this Section 4.3 shall not restrict or limit (i) any exercise by a successor holder Holder of this Warranta Participation Right as described in Section 4.1 above or (ii) any conversion or prepayment of the Notes in connection with a Change in Control as contemplated by Article 3 of the Indenture.

Appears in 1 contract

Samples: Exchange Agreement (Cadiz Inc)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock, the Notes or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company Corporation is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Preferred Stock held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 1 contract

Samples: Securities Purchase Agreement (BioRestorative Therapies, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything herein to the contrary, the Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that that, after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the Holder such Person (together with such Person's affiliates, and any other Person whose beneficial ownership of Common Stock would be aggregated with the Holder’s Affiliatesfor purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the applicable rules and regulations of the Securities and Exchange Commission (the “SEC”), including any other Persons acting as a group together with “group” of which the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), is a member) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties affiliates shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised nonexercised portion of such this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties affiliates and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by such Holder or any of its affiliates (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stockconvertible notes, including, without limitation, any debt, preferred stock, right, option, warrant convertible stock or other instrument warrants) that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.91(f), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) , and the applicable rules and regulations promulgated thereunderof the SEC. In addition, it being acknowledged by for purposes hereof, “group” has the Holder that the Company is not representing to the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the applicable rules and regulations promulgated thereunderof the SEC. For purposes of this Section 3.3.9Warrant, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A1) the Company’s 's most recent periodic Form 10-K, Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the CommissionSEC, as the case may be; , (B2) a more recent public announcement by the Company; Company or (C3) a more recent written notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock then outstanding. Upon For any reason at any time, upon the written or oral request of a the Holder, the Company shall shall, within two Trading (2) Business Days of such request, confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the Company, including such this Warrant, by the Holder or and its Affiliates or Attribution Parties affiliates since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Holder. The “Beneficial Ownership Limitation” shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a Warrant. The Holder, upon notice pursuant to such Exercise Notice (to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of extent permitted pursuant to this Section 3.3.9, provided 1(f)). To the extent that the Beneficial Ownership Limitation contained in no event exceeds 9.99% this Section 1(f) applies, the determination of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of whether this Warrant held (in relation to other securities owned by the Holder together with any affiliate) is exercisable shall be in the sole discretion of the Holder, and if the provisions Holder has delivered an Exercise Notice, the Company shall be entitled to assume, and shall have no obligation to verify or confirm the accuracy of this Section 3.3.9 shall continue to apply. Any increase the determination, that such exercise will not result in the Holder exceeding the Beneficial Ownership Limitation will not be effective until as a result of the 61st day after exercise contemplated by such notice is delivered to the CompanyExercise Notice. The provisions of this paragraph Section 1(f) shall be construed construed, corrected and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 so as to correct this paragraph (or any portion hereof) which may be defective or inconsistent with effectuate the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrantcontained.

Appears in 1 contract

Samples: Securities Agreement (Inergetics Inc)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). Likewise, the Corporation shall not give effect to any voting rights of the Preferred Stock, and any Holder shall not have the right to exercise voting rights with respect to any Preferred Stock pursuant hereto, to the extent that giving effect to such voting rights would cause such Holder (together with its affiliates) to be deemed to beneficially own in excess of the Beneficial Ownership Limitation of the number of shares of Common Stock outstanding immediately after giving effect to such exercise of voting rights. For purposes of the foregoing sentenceforegoing, the number of shares of Common Stock beneficially owned by the such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Preferred Stock with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion unconverted Stated Value of such Warrant Preferred Stock beneficially owned by the such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) Corporation subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock or the Warrants) beneficially owned by the such Holder or any of its Affiliates or Attribution PartiesAffiliates. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution PartiesAffiliates) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.96(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the CompanyCorporation’s most recent periodic or annual report filed with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Corporation or (Ciii) a more recent written notice by the Company Corporation or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company Corporation shall within two Trading Days confirm orally and in writing (including by e-mail) to the such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the CompanyCorporation, including such Warrantthe Preferred Stock, by the such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.999.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon not less than 61 days’ prior notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Preferred Stock held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation or decrease will not be effective until the 61st day after such notice is delivered to the CompanyCorporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantPreferred Stock.

Appears in 1 contract

Samples: Securities Purchase Agreement (Advanced Battery Technologies, Inc.)

Beneficial Ownership Limitation. The Company shall (a) Notwithstanding anything to the contrary in this Indenture or the Notes, no shares of Common Stock will be issued or delivered upon exchange of any Note (and in the case of a Notice of Voluntary Exchange not effect any exercise of this Warrantin connection with a Soft Call, the Note will not be exchangeable) to the extent, and a Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, only to the extent extent, that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the exchange would result in such Holder (together with the Holder’s Affiliates, its Affiliates and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number Person whose beneficial ownership of Common Stock beneficially owned by would be aggregated with that of the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required applicable regulations of the SEC), or a “person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act) that includes such Holder, beneficially owning in excess of 9.99% of the outstanding shares of Common Stock immediately after giving effect to be filed in accordance therewith. To such exchange (the extent that the limitation contained restrictions set forth in this Section 3.3.9 appliessentence, the determination of whether a Warrant is exercisable (in relation “Ownership Limitation”). Any election to other securities owned by exchange the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the HolderNotes, and the submission of including pursuant to a Notice of Exercise Voluntary Exchange, shall be deemed automatically not to be the Holder’s determination of whether a Warrant is exercisable (in relation have been so delivered with respect to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which such portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership LimitationNotes, and the Company shall have no obligation to verify or confirm deliver any Common Stock with respect to such exercise, to the accuracy extent that the delivery of such determinationCommon Stock or any other security otherwise deliverable upon such exercise would result in the Holder (together with its Affiliates and any Person whose beneficial ownership of Common Stock would be aggregated with that of the Holder for purposes of Section 13(d) of the Exchange Act and the applicable regulations of the SEC), or a “person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act) that includes such Holder, beneficially owning Common Stock in excess of the Ownership Limitation. In additionFor these purposes, a determination as to any group status as contemplated above shall beneficial ownership and calculations of percentage ownership will be determined in accordance with Section 13(d) of the Exchange Act and the rules and applicable regulations promulgated thereunderof the SEC, including Rule 13d-3 under the Exchange Act. For purposes of this Section 3.3.9, in determining the number of outstanding shares of Common StockStock a Holder may acquire upon the exchange of such Notes without exceeding the Ownership Limitation, a such Holder may rely on the number of outstanding shares of Common Stock as reflected in (Ax) the CompanyAMC’s most recent periodic Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the CommissionSEC, as the case may be; , (By) a more recent public announcement by the Company; AMC or (Cz) a more recent any other written notice by the Company or the transfer agent AMC setting forth the number of shares of Common Stock outstandingoutstanding (the “Reported Outstanding Share Number”). Upon the written any request of any Holder that indicates it may be subject to an Ownership Limitation in such Hxxxxx’s preparation for a HolderNotice of Voluntary Exchange, the Company shall within two Trading Days one (1) Business Day confirm in writing (including by e-mailemail) to the such Holder the number of shares of Common Stock then outstanding. In any caseoutstanding (the latest confirmation, the “Confirmed Outstanding Share Number”). If the Confirmed Outstanding Share Number is greater than the actual number of outstanding shares of Common Stock shall be determined after giving effect to at the conversion or exercise time the Company receives a Notice of securities of Voluntary Exchange, the CompanyCompany shall, within one (1) Business Day, notify such Holder in writing (including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%email) of the number of shares of Common Stock then outstanding immediately and provide the Holder with the opportunity to submit a revised Notice of Voluntary Exchange before effecting such exchange. For the avoidance of doubt, the limitations on the exchange of any Note pursuant to this Section 10.15 will not, in themselves, cause such Note to cease to be outstanding (and interest will continue to accrue on any portion of a Note that has been tendered for exchange and whose exchange is suspended pursuant to this Section 10.15), and such limitations will cease to apply if and when such Note’s exchange will not violate this Section 10.15. For the avoidance of doubt, nothing in this Section 10.15 will affect the Company’s ability to elect any settlement method in accordance with this Indenture, so long as shares of Company Common Stock or any other security otherwise deliverable are not delivered in contravention of the Ownership Limitation. (b) If any Exchange Consideration or Shares Exchange Adjustment Consideration otherwise due upon the exchange of any Note is not delivered as a result of the Ownership Limitation, then the Company’s obligation to deliver such Exchange Consideration or Shares Exchange Adjustment Consideration will not be extinguished, and the Company will deliver such Exchange Consideration or Shares Exchange Adjustment Consideration within three (3) Business Days after giving the Holder of such Note provides written confirmation to the Company that such delivery will not contravene the Ownership Limitation. Any purported delivery of shares of Common Stock upon exchange of any Note will be void and have no effect to the extent, and only to the extent, that such delivery would contravene the Ownership Limitation. In the event that the issuance of Common Stock issuable to the Holder upon exercise the exchange of a Warrant. The the Note results in the Holder, upon notice or a “person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act) that includes such Holder, being deemed to beneficially own, in the aggregate, more than the Ownership Limitation (as determined under Section 13(d) of the Exchange Act), such Common Stock in excess thereof shall be deemed null and void and shall be cancelled ab initio, and the Holder shall not have the power to vote or to transfer such Common Stock; it being understood that notwithstanding the foregoing, the Company remains obligated and will deliver such Common Stock within three (3) Business Days after the Holder of such Note provides written confirmation to the Company, may increase or decrease Company that such delivery will not contravene the Beneficial Ownership Limitation Limitation. (c) The provisions of this Section 3.3.910.15 shall be construed, provided that corrected and implemented in a manner so as to effectuate the Beneficial intended beneficial ownership limitation herein contained. The Common Stock issuable upon exchange of the Notes in excess of the Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect shall not be deemed to the issuance of Common Stock upon exercise of this Warrant held be beneficially owned by the Holder and for any purpose, including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the Exchange Act. No prior inability to convert such Notes pursuant to this Section 10.15 shall have any effect on the applicability of the provisions of this Section 3.3.9 shall continue 10.15 with respect to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Companyany subsequent determination of convertibility. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations limitation contained in this paragraph Section 10.15 shall apply to a the successor holder of such Notes. (d) Upon the occurrence of a Merger Event, (i) the Ownership Limitation and this WarrantSection 10.15 will thereafter apply with respect to such issuer whose equity holders are subject to Section 16 of the Exchange Act as if each reference to “Common Stock” in this Section 10.15 were instead a reference to the common equity (including depositary receipts representing common equity), if any, forming part of the Reference Property of such Merger Event; and (ii) if such Reference Property includes no such common equity or depositary receipts or such issuer’s equity holders following such Merger Event are not subject to Section 16 of the Exchange Act, then the Ownership Limitation and this Section 10.15 will thereafter cease to apply. (e) Neither the Trustee nor the Exchange Agent shall have any duty or responsibility to monitor the Ownership Limitation or to monitor the Company’s or any Holder’s compliance with this Section 10.15 or have any liability or responsibility for such compliance.

Appears in 1 contract

Samples: Indenture (Amc Entertainment Holdings, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any exercise of this Warrant, and a A Holder shall not have the right to exercise any portion of a Warrant, pursuant to Section 3 or otherwise, Warrants to the extent that after giving effect to such the issuance of Warrant Shares after exercise as set forth on the applicable Notice of ExerciseElection to Purchase, the such Holder or a Person holding through such Holder (together with the such Holder’s Affiliatesor Person’s Affiliates (as defined in Rule 405 under the Securities Act), and any other Persons acting as a group together with the that Holder or person or any of the Holderthat Hxxxxx’s or person’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the 9.99% (“Beneficial Ownership Limitation (as defined below)Limitation”) of the Company’s Common Stock. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock Warrant Shares that would be owned by that Person issuable upon exercise of such Warrant the Warrants with respect to which such determination is being made, but shall exclude the number of shares of Common Stock (a) which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant Warrants beneficially owned by the that Holder or any of its Affiliates or Attribution Parties and (iib) which would be issuable upon exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. .. Except as set forth in the preceding sentence, for purposes of this Section 3.3.93.3.10, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended amended, and the rule and regulations promulgated thereunder (the “Exchange Act”) and the rules and regulations promulgated thereunder), it being acknowledged by the Holder that neither the Warrant Agent nor the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder or beneficial owner is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 3.3.10 applies, the determination of whether a Warrant is exercisable and of which portion of the Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of an Election to Purchase shall be deemed to be the Holder’s determination of whether such Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to and neither the Beneficial Ownership Limitation, and Warrant Agent nor the Company shall have no any obligation to verify or confirm the accuracy of such determinationdetermination and neither of them shall have any liability for any error made by the Holder or any other Person. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.93.3.10, in determining the number of outstanding shares of Common Stock, a Holder or other Person may rely on the number of outstanding shares of Common Stock as reflected in (Aa) the Company’s most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be; , (Bb) a more recent public announcement by the Company; Company or (Cc) a more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon For any reason at any time, upon the written or oral request of a Person that represents that it is or is acting on behalf of a Holder, the Company shall shall, within two one (1) Trading Days Day, confirm orally or in writing (including or by e-mail) mail to the Holder that Person the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such the Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of a this Warrant. The Holder, upon Upon delivery of a written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other percentage not in excess of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 3.3.10 shall continue to apply. Any as specified in such notice, provided that any increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the CompanyCompany and any such increase or decrease will apply only to the Holder and its Affiliates and Attribution Parties and not to any other holder of Warrants. The provisions of this paragraph Section 3.3.10 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 3.3.10 to correct this paragraph subsection (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitationcontained. The limitations contained in this paragraph shall apply to a successor holder of this the Warrant.

Appears in 1 contract

Samples: Warrant Agent Agreement (bioAffinity Technologies, Inc.)

Beneficial Ownership Limitation. The Subject to the final sentence of this Section 2.21, the Company shall not effect any exercise conversion of this Warrantthe Notes or issue any shares of Common Stock in respect of the Blended Method, and a Holder shall not have the right to exercise convert any portion of a Warrant, the Notes pursuant to Section 3 or otherwiseArticle V, to the extent that after giving effect to such issuance after exercise conversion as set forth on the applicable Notice of ExerciseConversion or such payment, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise such payment and conversion of such Warrant the Notes with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise conversion of the remaining, non-exercised unconverted portion of such Warrant these Notes beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted nonconverted portion of any other securities of the Company (including, without limitation, any other securities of the Company or its Subsidiaries which would entitle the holder thereof to acquire at any time shares of Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)Stock) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.92.21, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To avoid doubt, the calculation of the Beneficial Ownership Limitation shall take into account the concurrent exercise or conversion, as applicable, of the unexercised or unconverted portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) beneficially owned by the Holder or any Attribution Party, as applicable. To the extent that the limitation contained in this Section 3.3.9 2.21 applies, the determination of whether the Notes are convertible (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of the Notes are convertible shall be in the sole discretion of the Holder, and the submission of a Notice of Conversion shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisableNotes are convertible, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determinationdetermination (including any determination as to group status pursuant to the next sentence). In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.92.21, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; , (B) a more recent public announcement by the Company; Company or (C) a more recent written notice by the Company or the its transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two one (1) Trading Days Day confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to any payment in the form of Common Stock by the Blended Method and the conversion or exercise of securities of the Company, including such Warrantthe Notes, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99be, (i) with respect to all Holders other than the Permitted Parties, 9.9% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to such payment and the issuance of shares of Common Stock issuable upon exercise conversion of a Warrantthe Notes and (ii) with respect to the Permitted Parties, 49.9% of the number of shares of the Common Stock outstanding immediately after giving effect to such payment and the issuance of shares of Common Stock issuable upon conversion of the Notes. The A Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.92.21, provided that the Beneficial Ownership Limitation in no event (i) in the case of Holders other than the Permitted Parties, is lower than 9.9% or exceeds 9.9919.9% of the number of shares of the Common Stock outstanding immediately after giving effect to such payment and the issuance of shares of Common Stock upon conversion of the Notes held by the Holder and the provisions of this Section 2.21 shall continue to apply and (ii) in the case of the Permitted Parties, is lower than 9.9% or exceeds 49.9% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise such payment and conversion of this Warrant the Notes held by the Holder and the provisions of this Section 3.3.9 2.21 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.until

Appears in 1 contract

Samples: Indenture (Biora Therapeutics, Inc.)

Beneficial Ownership Limitation. The Notwithstanding anything to the contrary set forth in the Certificate of Designations, the Company shall not effect any exercise conversion of this Warrantany share of Series A Preferred Stock, and a Holder Purchaser shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwiseits Series A Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as attempted conversion set forth on the an applicable Notice of ExerciseConversion with respect to the Series A Preferred Stock, the Holder such Purchaser (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holdersuch Purchaser’s Affiliates or any other Person who would be a beneficial owner of Common Stock beneficially owned by the Purchaser for purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable rules and regulations of the Commission, including any “group” of which the Purchaser is a member (such Personsthe foregoing, “Attribution Parties”)), ) would beneficially own a number of shares of Common Stock in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder such Purchaser and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise conversion of such Warrant the Series A Preferred Stock subject to the Notice of Conversion or the Automatic Conversion, as applicable, with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be are issuable upon (i) exercise conversion of the remaining, non-exercised portion of such Warrant unconverted Series A Preferred Stock beneficially owned by the Holder such Purchaser or any of its Affiliates or Attribution Parties Parties, and (ii) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company (including, without limitation, beneficially owned by such Purchaser or any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument its Attribution Parties that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) are subject to and would exceed a limitation on conversion or exercise analogous similar to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.95.12, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the applicable rules and regulations promulgated thereunderof the Commission, it being acknowledged by and the Holder that terms “beneficial ownership” and “beneficially own” have the Company is not representing meanings ascribed to such terms therein. In addition, for purposes hereof, “group” has the Holder that such calculation is meaning set forth in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the applicable rules and regulations promulgated thereunderof the Commission. For purposes of this Section 3.3.95.12, in determining the number of outstanding shares of Common Stock, a Holder Purchaser may rely on the number of outstanding shares of Common Stock as reflected stated in the most recent of the following: (Ai) the Company’s most recent periodic or annual report filed filing with the Commission, as the case may be; , (Bii) a more recent public announcement by the Company; Company that is filed with the Commission, or (Ciii) a more recent written notice by the Company or the Company’s transfer agent to the Purchaser setting forth the number of shares of Common Stock then outstanding. Upon For any reason at any time, upon the written request of a HolderPurchaser (which may be by e-mail), the Company shall shall, within two (2) Trading Days of such request, confirm in writing to such Purchaser (including which may be by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the any actual conversion or exercise of securities of the Company, including such WarrantSeries A Preferred Stock, by the Holder such Purchaser or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reportedlast publicly reported or confirmed to the Purchaser. The “Beneficial Ownership Limitation” shall initially be 4.99set at the discretion of each Purchaser to a percentage between 0% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) and 19.9% of the number of shares of the Common Stock outstanding immediately after giving effect or deemed to be outstanding as of the issuance of Common Stock issuable upon exercise of a Warrantapplicable measurement date, and such percentage shall be set at 19.9% for any Holder that does not make such designation on the signature page hereto. The HolderCompany shall be entitled to rely on representations made to it by any Purchaser in any Notice of Conversion regarding its Beneficial Ownership Limitation. Notwithstanding the foregoing, upon by written notice to the Company, (i) any Purchaser may increase or decrease reset the Beneficial Ownership Limitation provisions of this Section 3.3.9percentage to a higher percentage, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect not to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any exceed 19.9%, which increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such written notice is delivered to the Company, and (ii) any Purchaser may reset the Beneficial Ownership Limitation percentage to a lower percentage provided that such decrease shall not become effective until the later of (x) 5:00 p.m. Eastern time on the third Trading Day after the date of the Requisite Stockholder Approval and (y) if the Requisite Stockholder Approval is not obtained within six months after the initial issuance of the Series A Preferred Stock, the date that is three Trading Days after the date that is six months after the initial issuance of the Series A Preferred Stock. Upon such a change by a Purchaser of the Beneficial Ownership Limitation, not to exceed 19.9%, the Beneficial Ownership Limitation may not be further amended by such Purchaser without first providing the minimum notice required by this Section 5.12. Notwithstanding the foregoing, at any time following notice of a Fundamental Transaction, the Purchaser may waive and/or change the Beneficial Ownership Limitation effective immediately upon written notice to the Company and may reinstitute a Beneficial Ownership Limitation at any time thereafter effective immediately upon written notice to the Company. The provisions of this paragraph Section 5.12 shall be construed construed, corrected and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 so as to correct this paragraph (or any portion hereof) which may be defective or inconsistent with effectuate the intended Beneficial Ownership Limitation herein contained and the shares of Common Stock underlying the Securities in excess of the Beneficial Ownership Limitation shall not be deemed to be beneficially owned by the Purchaser for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the Exchange Act. Notwithstanding the foregoing, to make changes the extent that such Purchaser already holds greater than 19.9% of the number of shares of the Common Stock outstanding or supplements necessary or desirable deemed to properly give effect to such limitationbe outstanding as of the applicable measurement date, this Section 5.12 shall not apply. The limitations contained Capitalized terms used in this paragraph Section 5.12 without definition shall apply have the meanings ascribed to a successor holder them in the Certificate of this WarrantDesignations.

Appears in 1 contract

Samples: Securities Purchase Agreement (Biodesix Inc)

Beneficial Ownership Limitation. The Company Corporation shall not effect any exercise conversion of this Warrantthe Preferred Stock, and a Holder shall not have the right to exercise convert any portion of a Warrant, pursuant to Section 3 or otherwisethe Preferred Stock, to the extent that that, after giving effect to such issuance after exercise as the conversion set forth on the applicable Notice of ExerciseConversion, the such Holder (together with the such Holder’s Affiliates, and any other Persons acting as a group together with the such Holder or any of the such Holder’s Affiliates (such Persons, “Attribution Parties”)), ) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.96(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 6(d) applies, the determination of whether a Warrant the Preferred Stock is exercisable convertible (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and of which portion how many shares of a Warrant is exercisable Preferred Stock are convertible shall be in the sole discretion of the such Holder, and the submission of a Notice of Exercise Conversion shall be deemed to be the such Holder’s determination of whether a Warrant is exercisable the shares of Preferred Stock may be converted (in relation to other securities owned by the such Holder together with any Affiliates and Attribution Parties) and how many shares of which portion of a Warrant is exercisablethe Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 3.3.9, in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number of Common Stock outstanding. Upon the written request of a Holder, the Company shall within two Trading Days confirm in writing (including by e-mail) to the Holder the number of Common Stock then outstanding. In any case, the number of outstanding Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrantsshares of Preferred Stock, 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise conversion of a WarrantPreferred Stock held by the applicable Holder. The A Holder, upon notice to the CompanyCorporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 3.3.9, 6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise conversion of this Warrant Preferred Stock held by the Holder and the provisions of this Section 3.3.9 6(d) shall continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph Corporation and shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect only apply to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantHolder and no other Holder.

Appears in 1 contract

Samples: Stock Purchase Agreement (Staffing 360 Solutions, Inc.)

Beneficial Ownership Limitation. The Company shall not effect any the exercise of this Warrant, and a the Holder shall not have the right to exercise any portion of a this Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exerciseexercise, the Holder such Person (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), Person's affiliates) would beneficially own in excess of 4.99% (the Beneficial Ownership Limitation (as defined below)"Maximum Percentage") of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder such Person and its Affiliates and Attribution Parties affiliates shall include the number of shares of Common Stock issuable upon exercise of such this Warrant with respect to which the determination of such determination sentence is being made, but shall exclude the number shares of Common Stock which would be issuable upon (ix) exercise of the remaining, non-exercised unexercised portion of such this Warrant beneficially owned by the Holder or any of such Person and its Affiliates or Attribution Parties affiliates and (iiy) exercise or conversion of the unexercised or non-converted unconverted portion of any other securities of the Company beneficially owned by such Person and its affiliates (including, without limitation, any other securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, convertible notes or convertible preferred stock, right, option, warrant stock or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Partiesherein. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunderamended. For purposes of this Section 3.3.9Warrant, in determining the number of outstanding shares of Common Stock, a the Holder may rely on the number of outstanding shares of Common Stock as reflected in (A1) the Company’s 's most recent periodic Form 10-K, Form 10-Q, Current Report on Form 8-K or annual report filed other public filing with the Securities and Exchange Commission, as the case may be; , (B2) a more recent public announcement by the Company; Company or (C3) a more recent written any other notice by the Company or the transfer agent Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon For any reason at any time, upon the written or oral request of a the Holder, the Company shall within two Trading Days one Business Day confirm orally and in writing (including by e-mail) to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including such Warrantthe SA Warrants, by the Holder or and its Affiliates or Attribution Parties affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise of a Warrant. The Holder, upon By written notice to the Company, the Holder may from time to time increase or decrease the Beneficial Ownership Limitation provisions Maximum Percentage to any other percentage not in excess of this Section 3.3.9, 9.99% specified in such notice; provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any (x) any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such notice is delivered to the Company. The provisions of this paragraph shall be construed , and implemented in a manner otherwise than in strict conformity with (y) any such increase or decrease will apply only to the terms of this Section 3.3.9 Holder and not to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor other holder of this WarrantSA Warrants.

Appears in 1 contract

Samples: Warrant to Purchase Common Stock (China Bak Battery Inc)

Beneficial Ownership Limitation. The Company Notwithstanding any other provision of this Agreement, the Investor shall not effect any exercise of this Warrantpurchase or acquire, and a Holder shall not or be obligated or have the right to exercise purchase or acquire, any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number pursuant to this Agreement which, when aggregated with all other shares of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant then beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof as calculated pursuant to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned Rule 13d-3 promulgated thereunder) by the Holder together with any Affiliates Investor and Attribution Parties) and of which portion of a Warrant is exercisable shall be its Affiliates, would result in the sole discretion beneficial ownership by the Investor of more than 4.99% of the Holder, then issued and outstanding shares of Common Stock (the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and ”). If the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, issues a determination as VWAP Purchase Notice with respect to any group status VWAP Purchase that would cause the aggregate number of shares of Common Stock then beneficially owned (as contemplated above shall be determined in accordance with calculated pursuant to Section 13(d) of the Exchange Act and the rules and regulations Rule 13d-3 promulgated thereunder. For purposes ) by the Investor and its Affiliates to exceed the Beneficial Ownership Limitation, such VWAP Purchase Notice shall be void ab initio to the extent of this Section 3.3.9, in determining the amount by which the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number shares of Common Stock outstandingotherwise issuable pursuant to such VWAP Purchase Notice, together with all shares of Common Stock then beneficially owned (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder) by the Investor and its Affiliates, would exceed the Beneficial Ownership Limitation. Upon the written or oral request of a Holderthe Investor, the Company shall within two promptly (but not later than the next Trading Days Day) confirm orally or in writing (including by e-mail) to the Holder Investor the number of shares of Common Stock then outstanding. In any case, The Investor and the number of outstanding Common Stock Company shall be determined after giving effect each cooperate in good faith in the determinations required hereby and the application hereof. The Investor’s written certification to the conversion or exercise of securities Company of the Company, including such Warrant, by applicability of the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation, and the resulting effect thereof hereunder at any time, shall be 4.99% (or, upon election by a Holder prior conclusive with respect to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise applicability thereof and such result absent manifest error. Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Investor may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other amount of this Section 3.3.9, provided that the Beneficial Ownership Limitation Common Stock not in no event exceeds excess of 9.99% of the number then issued and outstanding shares of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any as specified in such notice; provided that any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such written notice is delivered to the Company. The provisions of this paragraph Section 2.6 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 2.6 to the extent necessary to correct this paragraph Section 2.6 (or any portion hereofof this Section 2.6) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained in this Section 2.6 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantSection 2.6 may not be waived by the Company or the Investor.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Evofem Biosciences, Inc.)

Beneficial Ownership Limitation. The Company Notwithstanding any other provision of this Agreement, the Investor shall not effect any exercise of this Warrantpurchase or acquire, and a Holder shall not or be obligated or have the right to exercise purchase or acquire, any portion of a Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number pursuant to this Agreement which, when aggregated with all other shares of Common Stock issuable upon exercise of such Warrant with respect to which such determination is being made, but shall exclude the number of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of such Warrant then beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other securities of the Company which would entitle the holder thereof as calculated pursuant to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Share Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3.3.9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 3.3.9 applies, the determination of whether a Warrant is exercisable (in relation to other securities owned Rule 13d-3 promulgated thereunder) by the Holder together with any Affiliates Investor and Attribution Parties) and of which portion of a Warrant is exercisable shall be its Affiliates, would result in the sole discretion beneficial ownership by the Investor of more than 9.99% of the Holder, and outstanding shares of Common Stock (the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether a Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of a Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and ”). If the Company shall have no obligation issues a VWAP Purchase Notice with respect to verify or confirm a VWAP Purchase that would cause the accuracy aggregate number of such determination. In addition, a determination shares of Common Stock then beneficially owned (as calculated pursuant to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations Rule 13d-3 promulgated thereunder. For purposes ) by the Investor and its Affiliates to exceed the Beneficial Ownership Limitation, such VWAP Purchase Notice shall be void ab initio to the extent of this Section 3.3.9, in determining the amount by which the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be; (B) a more recent public announcement by the Company; or (C) a more recent written notice by the Company or the transfer agent setting forth the number shares of Common Stock outstandingotherwise issuable pursuant to such VWAP Purchase Notice, together with all shares of Common Stock then beneficially owned (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder) by the Investor and its Affiliates, would exceed the Beneficial Ownership Limitation. Upon the written or oral request of a Holderthe Investor, the Company shall within two promptly (but not later than the next Trading Days Day) confirm orally or in writing (including by e-mail) to the Holder Investor the number of shares of Common Stock then outstanding. In any case, The Investor and the number of outstanding Common Stock Company shall be determined after giving effect each cooperate in good faith in the determinations required hereby and the application hereof. The Investor’s written certification to the conversion or exercise of securities Company of the Company, including such Warrant, by applicability of the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial Ownership Limitation, and the resulting effect thereof hereunder at any time, shall be 4.99% (or, upon election by a Holder prior conclusive with respect to the issuance of any Warrants, 9.99%) of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock issuable upon exercise applicability thereof and such result absent manifest error. Upon delivery of a Warrant. The Holder, upon written notice to the Company, the Investor may from time to time increase or decrease the Beneficial Ownership Limitation provisions to any other amount of this Section 3.3.9, provided that the Beneficial Ownership Limitation in no event exceeds Common Stock not less than 4.99% or greater than 9.99% of the number outstanding shares of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 3.3.9 shall continue to apply. Any as specified in such notice; provided that any such increase in the Beneficial Ownership Limitation will not be effective until the 61st sixty-first (61st) day after such written notice is delivered to the Company. The provisions of this paragraph Section 2.5 shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3.9 2.5 to the extent necessary to correct this paragraph Section 2.5 (or any portion hereofof this Section 2.5) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained in this Section 2.5 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this WarrantSection 2.5 may not be waived by the Company or the Investor.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Professional Diversity Network, Inc.)

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