Bridge Warrant. In conjunction with the purchase of a Bridge Note by the Investor, the Company will issue to the Investor a Bridge Warrant in substantially the form attached to this Agreement as Exhibit B. The Bridge Warrant will entitle the Investor to purchase Fifty Thousand (50,000) shares of Common Stock for every $100,000 in principal amount of the Bridge Notes. If the Investor purchases a Bridge Note in an amount which is not divisible by $100,000, the Investor shall receive a pro rata number of Warrant Shares under the Bridge Note based on the amount of the Bridge Note. The Bridge Warrant will have an exercise price of $1.25 per share and will expire seven (7) years from the date of issuance.
Bridge Warrant. The May 13 Bridge Warrant shall be immediately exercisable upon issuance and continue to be exercisable for a period of seven (7) years after its issuance date. The exercise price of the May 13 Bridge Warrant shall be $0.04 (subject to adjustment for stock splits, stock dividends and the like, as provided more fully in the May 00 Xxxxxx Xxxxxxx). In the event the Convertible Preferred Stock is approved and authorized, and the terms and conditions are the same as set forth herein and in the Convertible Preferred Stock Term Sheet, and Other Investors have purchased in cash (and not by conversion of debt, exercise of warrants or options, or conversion or exercise of other securities or instruments) a minimum of $15 million of such Convertible Preferred Stock, on the terms and conditions set forth herein and in the Convertible Preferred Stock Term Sheet, then the May 13 Bridge Warrant shall be exercisable solely for such Convertible Preferred Stock (subject to Section 5 thereof). However, if, for any reason, such Convertible Preferred Stock is not approved or authorized, and/or is approved or authorized on any terms different than any terms set forth herein and in the Convertible Preferred Stock Term Sheet, and/or if Other Investors have not purchased in cash (and not by conversion of debt, exercise of warrants or options, or conversion or exercise of other securities or instruments) a minimum of $15 million of such Convertible Preferred Stock, on the terms and conditions set forth herein and in the Convertible Preferred Stock Term Sheet, the May 13 Bridge Warrant shall be exercisable for any Equity Security and/or Debt Security (each as defined in Section 2.7 hereof) and/or any combination thereof, in each case that Investor shall designate in Investor's sole discretion (the securities so elected being the "INVESTOR DESIGNATED SECURITIES").
Bridge Warrant. On the Seventh Amendment Date, Investor shall receive a warrant with coverage equal to one hundred percent (100%) of the principal amount due under the Note evidencing the June 16 Bridge Funding (the "JUNE 00 XXXXXX XXXXXXX"). The Company shall, therefore, issue $500,000 in warrant coverage on the $500,000 of June 16 Bridge Funding provided on the Seventh Amendment Date. The number of shares subject to the June 00 Xxxxxx Xxxxxxx to be so issued shall be determined on the basis of $0.10 per share (subject to adjustment for stock splits, stock dividends and the like). The total number of shares for which Investor shall initially be able to exercise the June 16 Bridge Warrant shall therefore be 5,000,000 shares as of the Seventh Amendment Date.
Bridge Warrant. Pursuant to the provisions of Section 3.01(d) of the Bridge Warrants (as applicable), (i) each Bridge Warrant shall be exercisable for the number of shares of Parent Common Stock to which a holder of the number of shares of Company Common Stock deliverable upon exercise of such Bridge Warrant would have been entitled to receive pursuant to Article I hereof upon the consummation of the Merger (provided that such number of shares of Parent Common Stock shall not be reduced for any shares which would have otherwise been subject to deposit with the Escrow Agent as provided in Section 2.10), (ii) appropriate adjustment shall be made in the application of the provisions of each Bridge Warrant with respect to the rights and interest thereafter of the holder of such Bridge Warrant, to the end that the provisions set forth therein (including provisions with respect to changes in and other adjustments of the applicable number of shares of stock issuable upon exercise) shall thereafter be applicable, as nearly as reasonably may be, in relation to any shares of Parent Common Stock deliverable upon the exercise of such Bridge Warrant.
Bridge Warrant. Encore agrees to issue the Warrant to the Lender in the form of Exhibit B, attached hereto. The Warrant will entitle the Lender to purchase, upon exercise, the number of shares of Stock determined according to the following formula: $0.45 where: P = The principal amount of the Loan Assuming an investment of $50,000.00, the Warrant shall permit the Lender to acquire Fifty Five Thousand (55,555) shares of Stock. The exercise price of the Warrant shall be $0.45 per share. The Warrant shall expire two years from the date it is issued to the Lender as indicated on the first page of the Warrant (the “Warrant Issuance Date”).
Bridge Warrant. The Buyer Parties are hereby relieved from any liability to any Person for any acts done by them in accordance with such decision, act, consent or instruction of the Stockholder Agent.
Bridge Warrant. The Bridge Warrant will have an exercise price of $0.01 per share and will be exercisable at any time after the issuance of the Bridge Warrant. The Bridge Warrant will expire five (5) years from the date of issuance.
Bridge Warrant. On the Tenth Amendment Date, Toucan Partners shall receive a warrant with coverage equal to one hundred percent (100%) of the principal amount due under the Note evidencing the November 14 Bridge Funding (the "NOVEMBER 00 XXXXXX XXXXXXX"). The Company shall, therefore, issue $400,000 in warrant coverage on the $400,000 of November 14 Bridge Funding provided on the Tenth Amendment Date. The number of shares subject to the November 00 Xxxxxx Xxxxxxx to be so issued shall be determined on the basis of $0.10 per share (subject to adjustment for stock splits, stock dividends and the like). The total number of shares for which Toucan Partners shall initially be able to exercise the November 14 Bridge Warrant shall therefore be 4,000,000 shares as of the Tenth Amendment Date.
Bridge Warrant. On the Fifth Amendment Date, Investor shall receive a warrant with coverage equal to one hundred percent (100%) of the principal amount due under the Note evidencing the April 12 Bridge Funding (the "APRIL 00 XXXXXX XXXXXXX"). The Company shall, therefore, issue $450,000 in warrant coverage on the $450,000 of April 12 Bridge Funding provided on the Fifth Amendment Date. The number of shares subject to the April 00 Xxxxxx Xxxxxxx to be so issued shall be determined on the basis of $0.10 per share (subject to adjustment for stock splits, stock dividends and the like). The total number of shares for which Investor shall initially be able to exercise the April 12 Bridge Warrant shall therefore be 4,500,000 shares as of the Fifth Amendment Date.
Bridge Warrant. The series of warrants represented by this form are substantially identical in all material respects except as to the details below. Accordingly, pursuant to Instruction 2 to Item 601(b) of Regulation S-K, we have filed the form of warrant herewith.
