Cancellation of Warrant Rights Sample Clauses

Cancellation of Warrant Rights. At any time during the period commencing on the six-month anniversary of the Effective Date and ending on the fifth anniversary of the Effective Date (the “Cancellation Period”), the Company shall have the right, but not the obligation, to terminate and cancel Holder’s purchase rights under this Warrant, whether in whole or in part (in each case, a “Cancellation”), in consideration of the Company’s payment and delivery to Holder of cash in the amount of $1.50 (i.e., $4.50 less $3.00) multiplied by the number of Warrant Shares subject to such Cancellation. The Company may exercise the Cancellation right granted to it under this Section 9(b) by delivering a written notice to Xxxxxx during the Cancellation Period stating that the Company is exercising its right to Cancellation granted to it under this Section 9(b), and the stating the number of Warrant Shares to be subject to such Cancellation. The delivery of such notice by the Company to Holder shall constitute a binding commitment of the Company to terminate and cancel such purchase rights of Holder under this Warrant for the total cancellation price. The total cancellation price for the Cancellation shall be delivered to Holder against delivery by Holder of this Warrant no later than 30 days after the Company’s delivery to Holder of the cancellation notice. If the Cancellation does not terminate and cancel all of Holder’s purchase rights under this Warrant, then, concurrently with its delivery of the total cancellation price to Holder, the Company shall also execute and deliver a new warrant of the same terms and conditions of this Warrant for the remaining Warrant Shares then subject to exercise under this Warrant.
Sample 1
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Related to Cancellation of Warrant Rights

  • Cancellation of Warrant This Warrant shall be canceled upon its exercise and, if this Warrant is exercised in part, the Company shall, at the time that it delivers Warrant Shares to the Holder pursuant to such exercise as provided herein, issue a new warrant, and deliver to the Holder a certificate representing such new warrant, with terms identical in all respects to this Warrant (except that such new warrant shall be exercisable into the number of shares of Common Stock with respect to which this Warrant shall remain unexercised); provided, however, that the Holder shall be entitled to exercise all or any portion of such new warrant at any time following the time at which this Warrant is exercised, regardless of whether the Company has actually issued such new warrant or delivered to the Holder a certificate therefor.

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.

  • Cancellation of Warrant Certificates Any Warrant Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall, if surrendered to the Company, be delivered to the Warrant Agent and all Warrant Certificates surrendered or so delivered to the Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this Agreement, no Warrant Certificate shall be issued hereunder in exchange therefor or in lieu thereof. The Warrant Agent shall deliver to the Company from time to time or otherwise dispose of canceled Warrant Certificates in a manner satisfactory to the Company.

  • Cancellation and Destruction of Warrant Certificates All Warrant Certificates surrendered for the purpose of exercise, transfer, split up, combination or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for cancellation or in canceled form, or, if surrendered to the Warrant Agent, shall be canceled by it, and no Warrant Certificates shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement. The Company shall deliver to the Warrant Agent for cancellation and retirement, and the Warrant Agent shall so cancel and retire, any other Warrant Certificate purchased or acquired by the Company otherwise than upon the exercise thereof. The Warrant Agent shall deliver all canceled Warrant Certificates to the Company, or shall, at the written request of the Company, destroy such canceled Warrant Certificates, and in such case shall deliver a certificate of destruction thereof to the Company, subject to any applicable law, rule or regulation requiring the Warrant Agent to retain such canceled certificates.

  • Expiration of Warrants Immediately after the Expiry Time, all rights under any Warrant in respect of which the right of acquisition provided for herein shall not have been exercised shall cease and terminate and each Warrant shall be void and of no further force or effect.

  • Effect of Exercise of Warrants (a) Upon surrender and payment as aforesaid the shares so subscribed for will be deemed to have been issued and such person or persons will be deemed to have become the Holder or Holders of record of such shares on the date of such surrender and payment, and such shares will be issued at the subscription price in effect on the date of such surrender and payment.

  • Cancellation of Surrendered Warrants All Warrant Certificates surrendered pursuant to Article 3 shall be cancelled by the Warrant Agent and upon such circumstances all such Uncertificated Warrants shall be deemed cancelled and so noted on the register by the Warrant Agent. Upon request by the Corporation, the Warrant Agent shall furnish to the Corporation a cancellation certificate identifying the Warrant Certificates so cancelled, the number of Warrants evidenced thereby, the number of Common Shares, if any, issued pursuant to such Warrants and the details of any Warrant Certificates issued in substitution or exchange for such Warrant Certificates cancelled.

  • Expiration of Warrant This Warrant shall expire on the five (5) year anniversary of the Base Date (the “Expiration Date”).

  • Mutilation or Loss of Warrant Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Warrant, and (in the case of loss, theft or destruction) receipt of reasonably satisfactory indemnification, and (in the case of mutilation) upon surrender and cancellation of this Warrant, the Company will execute and deliver a new Warrant of like tenor and date and any such lost, stolen, destroyed or mutilated Warrant shall thereupon become void.

  • Termination of Warrant In the event the Warrants are not exercised within Seven (7) years from the Issue Date, the right to exercise shall terminate.

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