Delayed Delivery. If at any time this Warrant is outstanding, the optional exercise of rights hereunder by the Holder or the automatic exercise of rights would entitle the Holder to receive Warrant Shares, but the receipt of such Warrant Shares is prevented by the application of the Beneficial Ownership Limitation, then such exercise of rights including exercise pursuant to Section 2(c) will take place except that the delivery of Warrant Shares which exceed the Beneficial Ownership Limitation will be held in abeyance and delayed to the soonest date or dates when such Warrant Shares may be permissibly be delivered without exceeding the Beneficial Ownership Limitation, provided Holder complies with all other obligations hereunder and pursuant to such other transaction, if any, as are applicable to similarly situated participants, that would not result in Holder exceeding the Beneficial Ownership Limitation. The Holder acknowledges that the provisions of this Section 3(i) have been included solely for the convenience of the Holder and that the Holder shall be solely responsible for its compliance with the terms of this Section 3(i). The Company shall have no obligation to provide the Holder with any notice or to take any other action under this Section 3(i) and shall have no liability for the failure of the Holder to effectively exercise its rights under this Section 3(i).
Appears in 4 contracts
Samples: SmartKem, Inc., SmartKem, Inc., SmartKem, Inc.
