Common use of Cashless Exercise of Warrants Clause in Contracts

Cashless Exercise of Warrants. (1) If, at the time of exercise of any Warrant in accordance with this Indenture, there is no effective Registration Statement under the U.S. Securities Act, or the prospectus contained therein is not available for the offer and sale of the Common Shares to the Warrantholder under the U.S Securities Act, then the Warrants may only be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Warrantholder shall be entitled to receive a number of Common Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where: A = the last VWAP immediately preceding the time of delivery of the Exercise Form giving rise to the applicable “cashless exercise” (to clarify, the “last VWAP” will be the last Current Market Price as calculated over an entire Trading Day such that, in the event that a Warrant is exercised at a time when the Trading Market is open, the prior Trading Day’s VWAP shall be used in this calculation); B = the Exercise Price of the Warrant, as adjusted hereunder (if any); and

Cashless Exercise of Warrants. (1a) If, at the time of exercise of any Warrant in accordance with this Indenture, there is no effective Registration Statement under the U.S. Securities Act, or the prospectus contained therein is not available for the offer and sale of the Common Shares to the Warrantholder under the U.S Securities Act, then then, subject to Section (b), the Warrants may only be exercised, in whole or in part, at such time by means of a “"cashless exercise” " in which the Warrantholder shall be entitled to receive a number of Common Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where: : A = the last VWAP immediately preceding the time of delivery of the Exercise Form giving rise to the applicable “"cashless exercise” " (to clarify, the “"last VWAP” " will be the last Current Market Price as calculated over an entire Trading Day such that, in the event that a Warrant is exercised at a time when the Trading Market is open, the prior Trading Day’s 's VWAP shall be used in this calculation); B = the Exercise Price of the Warrant, as adjusted hereunder (if any); and

Cashless Exercise of Warrants. (1) If, at the time of exercise of any Warrant in accordance with this Indenture, there is no effective Registration Statement under the U.S. Securities Act, or the prospectus Prospectus contained therein is not available for the offer and sale of the Common Shares to the Warrantholder under the U.S U.S. Securities Act, then the Warrants may only be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Warrantholder shall be entitled to receive a number of Common Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where: A = the last VWAP Current Market Price immediately preceding the time of delivery of the Exercise Form giving rise to the applicable “cashless exercise” (to clarify, the “last VWAPCurrent Market Price” will be the last Current Market Price as calculated over an entire Trading Day such that, in the event that a Warrant is exercised at a time when the Trading Market CSE is open, the prior Trading Day’s VWAP Current Market Price shall be used in this calculation); B = the Exercise Price of the Warrant, as adjusted hereunder (if any); and