Conditions for Redemption. (i) If the Issuer elects to redeem the Notes pursuant to clause (b), (c) or (d) of this Condition 6, then the Issuer shall give the Holders not less than 30 and not more than 60 days' prior notice in accordance with Condition 13 (Notices) (a "Redemption Notice"), which notice shall, subject to clause (f) of this Condition 6, be irrevocable and specify (x) the clause of this Condition 6 pursuant to which the redemption is to be made, (y) if any Definitive Certificates have been issued, the method by which Notes to be redeemed will be tendered, and (z) the date (which date shall be a Payment Business Day) on which the Issuer will redeem the Notes pursuant to such clause of this Condition 6 (such specified date, the "Redemption Date").
(ii) The Issuer may only redeem the Notes pursuant to clause (b) or (c) of this Condition 6 on the relevant Redemption Date if FINMA has approved such redemption on or prior to such Redemption Date, if such approval is then required under applicable Swiss laws and regulations.
(iii) The Issuer may only redeem the Notes pursuant to any clause of this Condition 6 on the relevant Redemption Date if no Trigger Event or Viability Event has occurred prior to such Redemption Date.
(iv) If the Issuer elects to redeem the Notes pursuant to clause (c) or (d) of this Condition 6, then prior to the publication of the Redemption Notice pursuant to subclause (e)(i) of this Condition 6, the Issuer shall deliver to the Fiscal Agent (A) a certificate signed by two Authorised Signatories stating that the relevant requirement or circumstance giving rise to the right to redeem under clause (c) or (d), as applicable, of this Condition 6 is satisfied and the reasons therefor and such certificate will be conclusive and binding on the Holders, and (B) in the case of a redemption pursuant to clause (c) of this Condition 6 only, an opinion of independent legal advisers of recognised standing to the effect that circumstances entitling the Issuer to exercise its right of redemption under clause (c) of this Condition 6 have arisen.
Conditions for Redemption. At any time after April 30, 2019, the Company, may at its option, redeem all, but not less than all, of the outstanding Series X-1 Warrants at a price of $0.01 per Warrant (“Redemption Price”); provided, that the:
i. VWAP of the Common Stock has been at least $18.00 per share (as adjusted for stock splits, stock dividends, or similar events occurring after the Closing date) for twenty (20) Trading Days out of the thirty (30) Trading Day period ending three (3) Business Days prior to the notice of redemption;
ii. Average daily trading volume during such thirty (30) Trading Day period is at least 20,000 (as adjusted for stock splits, stock dividends and similar events) shares; and
iii. A current registration statement is in effect with respect to the sale of Common Stock underlying the Warrants.
