Common use of Buy-In Rights Clause in Contracts

Buy-In Rights. In addition to any other rights available to a Holder, if the Company fails to deliver to the Holder a certificate representing Warrant Shares by the fifth trading day after the date on which delivery of such certificate is required by this Warrant, and if after such fifth trading day the Holder purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares that the Holder anticipated receiving from the Company (a “Buy-In”), then the Company shall, within ten trading days after the Holder’s request, honor its obligation to deliver to the Holder a certificate or certificates representing such Common Stock and pay cash to the Holder in an amount equal to the excess (if any) of the amount equal to the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased over the product of (A) such number of shares of Common Stock, times (B) the Closing Price on the date of the event giving rise to the Company’s obligation to deliver such certificate.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Vyteris, Inc.), Common Stock Purchase Warrant (Vyteris, Inc.)

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Buy-In Rights. In addition to any other rights available to a Holder, if the Company fails to deliver to the Holder a certificate representing Warrant Shares by the fifth trading day Trading Day after the date on which delivery of such certificate is required by this Warrant, and if after such fifth trading day Trading Day the Holder purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares that the Holder anticipated receiving from the Company (a “Buy-In”), then the Company shall, within ten trading days five Trading Days after the Holder’s request, honor its obligation to deliver to the Holder a certificate or certificates representing such Common Stock and pay cash to the Holder in an amount equal to the excess (if any) of the amount equal to the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased over the product of (A) such number of shares of Common Stock, times (B) the Closing Price on the date of the event giving rise to the Company’s obligation to deliver such certificate.

Appears in 2 contracts

Samples: Common Stock Purchase Warrant (Artes Medical Inc), Common Stock Purchase Warrant (Artes Medical Inc)

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