Common use of Insufficient Authorized Shares Clause in Contracts

Insufficient Authorized Shares. If the Company fails at any time to have a sufficient number of Ordinary Shares authorized, unissued and otherwise unreserved such that Ordinary Shares may be issued upon the exercise of this Warrant in accordance with the terms herein, then the Company will instead settle the exercise in cash, valuing the undelivered ADSs at the last closing price of the Company’s ADSs on the principal Trading Market as of the date of exercise, net of the applicable exercise price.