Common use of Commitment Fee; Warrant Clause in Contracts

Commitment Fee; Warrant. (a) The Company shall tender to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit (the “Commitment Fee”), deliverable as set forth below. The Commitment Fee due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate Limit. Notwithstanding the foregoing, the Company, at its option, may pay the Commitment Fee in cash or in Common Shares (provided that such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 100% of the Commitment Fee shall have been paid on or before the first anniversary of the Public Listing Date. For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) no Commitment Fee shall be payable in the event that the Company does not achieve a Public Listing.

Appears in 4 contracts

Samples: Share Purchase Agreement (7GC & Co. Holdings Inc.), Share Purchase Agreement (7GC & Co. Holdings Inc.), Share Purchase Agreement (Oxbridge Acquisition Corp.)

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Commitment Fee; Warrant. (a) The Company shall tender to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit (the “Commitment Fee”), deliverable as set forth below. The Commitment Fee due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate Limit. Notwithstanding To the foregoing, the Company, at its option, may pay the Commitment Fee in cash or in Common Shares (provided extent that such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 100% any amount of the Commitment Fee shall have been paid on or before remains unpaid to GYBL following the first date that is the one-year anniversary of the Public Listing DateFirst Trading Day, the remaining amount shall become immediately due. For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) no Commitment Fee shall be payable in the event that the Company does not achieve a Public Listing.

Appears in 2 contracts

Samples: Share Purchase Agreement (Nxu, Inc.), Share Purchase Agreement (Nxu, Inc.)

Commitment Fee; Warrant. (a) The Company shall tender to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit (the “Commitment Fee”), deliverable in installments as set forth below. The Commitment Fee due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate Limit. Notwithstanding the foregoing, the Company, at its option, may pay the Commitment Fee in cash or in Common Shares (provided that such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 100% of the Commitment Fee shall have been paid on or before the first anniversary of the Public Listing Date. For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) no Commitment Fee shall be payable in the event that the Company does not achieve a Public Listing.

Appears in 1 contract

Samples: Share Purchase Agreement (Adit EdTech Acquisition Corp.)

Commitment Fee; Warrant. (a) The Following the Closing, the Company shall tender to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit (the “Commitment Fee”), deliverable as set forth below. The Commitment Fee due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate Limit. Notwithstanding To the foregoing, the Company, at its option, may pay the Commitment Fee in cash or in Common Shares (provided extent that such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 100% any amount of the Commitment Fee shall have been paid on or before remains unpaid to GYBL following the first date that is the one- year anniversary of the Public Listing DateFirst Trading Day, the remaining amount shall become immediately due and following payment in full of the full Commitment Fee, no further installments shall be due or payable. For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) no Commitment Fee shall be due or payable in the event that the Company Closing does not achieve a Public Listingoccur.

Appears in 1 contract

Samples: Share Purchase Agreement (CITIC Capital Acquisition Corp.)

Commitment Fee; Warrant. (a) The Company shall tender to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit (the “Commitment Fee”), deliverable as set forth below. The Commitment Fee due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate Limit. Notwithstanding the foregoing, the Company, at its option, may pay the Commitment Fee in cash or in Common Shares (provided that such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 50% of the Commitment Fee shall have been paid on or before the first anniversary of the Public Listing Date and 100% of the Commitment Fee shall have been paid on or before the first eighteen (18) month anniversary of the Public Listing Date. For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) no Commitment Fee shall be payable in the event that the Company does not achieve a Public Listing.

Appears in 1 contract

Samples: Share Purchase Agreement (SunCar Technology Group Inc.)

Commitment Fee; Warrant. (a) The Company shall tender to GYBL, as a commitment fee, an amount equal equal, in the aggregate, to 2% of the Aggregate Limit (the “Commitment Fee”), deliverable as set forth below. The At each Settlement Date, the Company will pay the portion of the Commitment Fee due upon each Draw Down set forth below, which may be paid either in cash from the proceeds of such a Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at on the time of such Draw DownSettlement Date, at the option of the Company. The amount of the Commitment Fee due in each such installment on a Settlement Date shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (yx) the value of Shares purchased pursuant to proceeds received by the applicable Draw Down Company on such Settlement Date by (zy) the Aggregate Limit. Notwithstanding To the foregoing, the Company, at its option, may pay the Commitment Fee in cash or in Common Shares (provided extent that such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 100% any amount of the Commitment Fee shall have been paid on or before remains unpaid to GYBL following the first date that is the one-year anniversary of the Public Listing DateFirst Trading Day, the remaining amount shall become immediately due. For the avoidance of doubt, (1) following the earlier of a Public Listing Advance or the Public Listing Date, the Commitment Fee shall be vested and payable as described above by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) no Commitment Fee shall be payable in the event that the Company does not achieve a Public Listing.

Appears in 1 contract

Samples: Share Purchase Agreement (Cytocom, Inc.)

Commitment Fee; Warrant. (a) The Company shall tender to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit $2,000,000.00 (the “Commitment Fee”), deliverable as set forth below. The Commitment Fee due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate Limit. Notwithstanding the foregoingforegoing but at all times subject to Section 7.01, the Company, at its option, may pay the Commitment Fee in cash or in Common Shares (provided that such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 100% of the Commitment Fee shall have been paid on or before the first anniversary within twelve (12) months of the Public Listing Date. For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) except as provided in the second sentence of Section 7.01, no Commitment Fee shall be payable in the event that the Company does not achieve a Public Listing.

Appears in 1 contract

Samples: Share Purchase Agreement (Energy Exploration Technologies, Inc.)

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Commitment Fee; Warrant. (a) The Company shall tender to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit (the “Commitment Fee”), deliverable as set forth below. The Commitment Fee due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate Limit. Notwithstanding To the foregoing, the Company, at its option, may pay the Commitment Fee in cash or in Common Shares (provided extent that such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 100% any amount of the Commitment Fee shall have been paid on or before remains unpaid to GYBL following the first date that is the one-year anniversary of the Public Listing Date, the remaining amount shall become immediately due. For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) no Commitment Fee shall be payable in the event that the Company does not achieve a Public Listing.

Appears in 1 contract

Samples: Share Purchase Agreement (FibroBiologics Inc.)

Commitment Fee; Warrant. (a) The Company shall tender to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit First Tranche (the “Commitment Fee”), and, to the extent that the Company has completed Draw Downs within the Second Tranche, the Company shall tender to GYBL, as an additional commitment fee, an amount equal to 2% of the Second Tranche (the “Additional Commitment Fee”), each deliverable as set forth below. The Commitment Fee or Additional Commitment Fee, as applicable, due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment of the First Tranche shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate LimitFirst Tranche. The amount of Additional Commitment Fee due in each such installment of the Second Tranche shall be the product obtained by multiplying (i) the total amount of the Additional Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Second Tranche. Notwithstanding the foregoing, the Company, at its option, may pay the Commitment Fee (or Additional Commitment Fee) in cash or in Common Shares (provided that such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 100% of the Commitment Fee and, if the Company has completed Draw Downs for all or any part of the Second Tranche, the Additional Commitment Fee shall have been paid on or before the second anniversary of the Public Listing Date, provided that, if the Company has completed its first Draw Down for any part of the Second Tranche following the secondary anniversary of the Public Listing Date, 100% of the Additional Commitment Fee shall have been paid on or before the third anniversary of the Public Listing Date. For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, (2) No Additional Commitment Fee shall be payable if the Company has not completed Draw Downs within the Second Tranche, and (2) no Commitment Fee or Additional Commitment Fee shall be payable in the event that the Company does not achieve a Public ListingListing on any U.S. securities exchange.

Appears in 1 contract

Samples: Share Purchase Agreement (ReAlpha Asset Management Inc)

Commitment Fee; Warrant. (a) The Company shall tender pay to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit (the “Commitment Fee”), deliverable as set forth below. The Subject to Section 4.12(d), the Commitment Fee due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares and unrestricted ADSs of the Company (included in an effective Registration Statement for which no stop order has been issued) valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate Limit. Notwithstanding the foregoing, the Company, at its option, may pay the Commitment Fee in cash or in Common Shares (provided that ADSs representing such Common Shares shall have been registered for resale pursuant to an effective registration statement), so long as 100% of the Commitment Fee shall have been paid on or before the first anniversary date that is 270 days from the Effective Date (the “Fee Longstop Date”). On the Fee Longstop Date, the outstanding amount of Commitment Fee shall become immediately due and payable and interest shall accrue on any amount of the Public Listing DateCommitment Fee outstanding as described in Section 4.12(d). For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) no Commitment Fee shall be payable in the event that the Company does not achieve a Public Listing.. 21

Appears in 1 contract

Samples: Share Purchase Agreement (Highest Performances Holdings Inc.)

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