CONVERSION OF OUTSTANDING WARRANTS. As of the date of this Agreement, as set forth on SCHEDULE 1.3(B), there are currently outstanding warrants to purchase an aggregate of 26,130 MailKey Ordinary Shares (collectively, the "MAILKEY WARRANTS"). At the Effective Time, holders of the MailKey Warrants (the "MAILKEY WARRANT HOLDERS") shall be entitled to receive, in exchange therefore, warrants (the "ACQUIROR WARRANTS") to purchase shares of common stock, $.001 par value per share, of Acquiror ("ACQUIROR COMMON STOCK"), substantially on the terms of the Form of Warrant attached hereto as EXHIBIT 1.2(C). Immediately prior to the Effective Time, each MailKey Warrant Holder shall surrender to Acquiror for cancellation all certificates or agreements evidencing a MailKey Warrant and receive in exchange therefore the Acquiror Warrants.
Appears in 6 contracts
Samples: Agreement and Plan of Merger (IElement CORP), Merger Agreement (IElement CORP), Merger Agreement (IElement CORP)
