Common use of Effect of Exercise of Warrants Clause in Contracts

Effect of Exercise of Warrants. (a) Upon surrender and payment as aforesaid the shares so subscribed for will be deemed to have been issued and such person or persons will be deemed to have become the Holder or Holders of record of such shares on the date of such surrender and payment, and such shares will be issued at the subscription price in effect on the date of such surrender and payment. (b) Within ten business days after surrender and payment as aforesaid, the Company will forthwith cause to be delivered to the person or persons in whose name or names the shares so subscribed for are to be issued as specified in such subscription or mailed to him or them at his or their respective addresses specified in such subscription, a certificate or certificates for the appropriate number of shares not exceeding those which the Warrant Holder is entitled to purchase pursuant to the Warrant surrendered.

Effect of Exercise of Warrants. (a) Upon surrender and payment as aforesaid aforesaid, the shares Shares so subscribed for will shall be deemed to have been issued and such person or persons will Holder shall be deemed to have become the Holder holder (or Holders holders) of record of such shares Shares on the date of such surrender and payment, payment and such shares will Shares shall be issued at the subscription price Exercise Price in effect on the date of such surrender and payment. (b) Within ten business days Business Days after surrender and payment as aforesaid, the Company will shall forthwith cause to be delivered to the person or persons in whose name or names the shares Shares so subscribed for are to be issued as specified in such subscription or mailed to him or them at his or their respective addresses specified in such subscription, a certificate or certificates for the appropriate number of shares Shares not exceeding those which the Warrant Holder is entitled to purchase pursuant to the Warrant surrendered.

Effect of Exercise of Warrants. (a) Upon surrender and payment as aforesaid aforesaid, the shares Shares so subscribed for will shall be deemed to have been issued and such person or persons will shall be deemed to have become the Holder (or Holders Holders) of record of such shares Shares on the date of such surrender and payment, payment and such shares will Shares shall be issued at the subscription price Exercise Price in effect on the date of such surrender and payment. (b) Within ten business days after surrender and payment as aforesaid, the Company will shall forthwith cause to be delivered to the person or persons in whose name or names the shares Shares so subscribed for are to be issued as specified in such subscription or mailed to him or them at his or their respective addresses specified in such subscription, a certificate or certificates for the appropriate number of shares Shares not exceeding those which the Warrant Holder is entitled to purchase pursuant to the Warrant surrendered.

Effect of Exercise of Warrants. (ai) Upon surrender and payment as aforesaid the shares so subscribed for will be deemed to have been issued and such person or persons will be deemed to have become the Holder or Holders of record of such shares on the date of such surrender and payment, and such shares will be issued at the subscription price in effect on the date of such surrender and payment. (bii) Within ten business days after surrender and payment as aforesaid, the Company will forthwith cause to be delivered to the person or persons in whose name or names the shares so subscribed for are to be issued as specified in such subscription or mailed to him or them at his or their respective addresses specified in such subscription, a certificate or certificates for the appropriate number of shares not exceeding those which the Warrant Holder is entitled to purchase pursuant to the Warrant surrendered.

Effect of Exercise of Warrants. (a) Upon surrender and payment as aforesaid the shares so subscribed for will be deemed to have been issued and such person or persons will be deemed to have become the Holder or Holders of record of such shares on the date of such surrender and payment, and such shares will be issued at the subscription price in effect on the date of such surrender and payment. (b) Within ten business days after surrender and payment as aforesaid, the Company will forthwith cause to be delivered to the person or persons in whose name or names the shares so subscribed for are to be issued as specified in such subscription or mailed to him or them at his or their respective addresses specified in such subscription, a certificate or certificates for the appropriate number of shares not exceeding those which the Warrant Holder is entitled to purchase pursuant to the Warrant surrendered.

Effect of Exercise of Warrants. (a) Upon surrender and payment as aforesaid the shares so subscribed for will be deemed to have been issued and such person or persons will be deemed to have become the Holder or Holders of record of such shares on the date of such surrender and payment, and such shares will be issued at the subscription price in effect on the date of such surrender and payment. (b) Within ten business days after surrender and payment as aforesaid, the Company SmarTire will forthwith cause to be delivered to the person or persons in whose name or names the shares so subscribed for are to be issued as specified in such subscription or mailed to him or them at his or their respective addresses specified in such subscription, a certificate or certificates for the appropriate number of shares not exceeding those which the Warrant Holder is entitled to purchase pursuant to the Warrant surrendered.

Effect of Exercise of Warrants. (a) 3.4.1 Upon surrender and payment as aforesaid the shares so subscribed for will be deemed to have been issued and such person or persons will be deemed to have become the Holder or Holders of record of such shares on the date of such surrender and payment, and such shares will be issued at the subscription price in effect on the date of such surrender and payment. (b) 3.4.2 Within ten business days after surrender and payment as aforesaid, the Company will forthwith cause to be delivered to the person or persons in whose name or names the shares so subscribed for are to be issued as specified in such subscription or mailed to him or them at his or their respective addresses specified in such subscription, a certificate or certificates for the appropriate number of shares not exceeding those which the Warrant Holder is entitled to purchase pursuant to the Warrant surrendered.

Effect of Exercise of Warrants. (a) Upon surrender and payment as aforesaid the shares Shares so subscribed for will be deemed to have been issued and such person Person or persons Persons will be deemed to have become the Holder or Holders of record of such shares Shares on the date of such surrender and payment, and such shares Shares will be issued at the subscription price in effect on the date of such surrender and payment. (b) Within ten business days after surrender and payment as aforesaid, the Company will forthwith cause to be delivered to the person Person or persons Persons in whose name or names the shares Shares so subscribed for are to be issued as specified in such subscription or mailed to him or them at his or their respective addresses specified in such subscription, a certificate or certificates for the appropriate number of shares Shares not exceeding those which the Warrant Holder is entitled to purchase pursuant to the Warrant surrendered.