Net-Issuance Exercise Sample Clauses

Net-Issuance Exercise. The undersigned hereby elects to exercise 1) ▇▇▇▇ ▇. ▇▇▇▇ has and will, from time to time, loan the Company capital. As of the Effective Date of this Agreement, $3,000 is outstanding which was not reimbursed from the proceeds of the Seed Round. ▇▇. ▇▇▇▇ has converted this loan into 120 shares of the company’s common stock plus a warrant to purchase an additional 120 shares of common stock as part of this capital round.

Net-Issuance Exercise. At any time during the Exercise Period the Holder may elect to receive by delivery of a duly executed Net Issuance Form at the Exercise Location, without the payment by the Holder of any additional consideration, a number of fully-paid non-assessable Warrant Shares as is computed by the following formula: X = Y (A-B) ------ A where X = the number of Warrant Shares that shall be issued to the Holder. Y = the number of Warrant Shares in respect of which the net issuance election is being made.

Net-Issuance Exercise. Notwithstanding any other provision contained herein to the contrary, the Holder may elect to receive, without the payment by the Holder of the aggregate Exercise Price in respect of the Shares to be acquired, Shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant (or such portion of this Warrant being so exercised) together with the Net Issue Election Notice annexed hereto as Exhibit C duly executed, at the office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid, validly issued and non-assessable Shares as is computed using the following formula: where

Net-Issuance Exercise. This Warrant may also be exercised, in whole or in part, at such time on a “net-issuance” basis (which will entail that the cash payment to be made is limited to the Par Value (per ADS Basis) of each Warrant ADS purchased) in which the Holder shall be entitled to receive a number of Warrant ADSs determined as follows: where:

Net-Issuance Exercise. At any time during the Exercise Period the Holder may elect to receive by delivery of a duly executed Net Issuance Form at the Exercise Location, without the payment by the Holder of any additional consideration, a number of fully-paid non-assessable Warrant Shares as is computed by the following formula: X = Y (A-B) where X = the number of Warrant Shares that shall be issued to the Holder. Y = the number of Warrant Shares in respect of which the net issuance election is being made. A = the “Fair Market Value” (as defined herein) of one Common Share as at the time the net issuance election is made. B = the Exercise Price (as adjusted to the date of calculation)

Net-Issuance Exercise. Notwithstanding anything to the contrary set forth herein, Holder may, at Holder’s election, exercise this Warrant by either (i) paying to the Company an amount equal to the aggregate Warrant Price of the shares being purchased or (ii) receiving shares of Preferred Stock equal to the value (as determined below) of this Warrant, in which event the Company shall issue to Holder a number of shares of Preferred Stock computed using the following formula: X = Y(A-B) Where: X = the number of shares to be issued to Holder Y = the total number of shares purchasable under this Warrant A = the Current Fair Market Value of one share of Preferred Stock B = the Warrant Price then in effect As used herein, “Current Fair Market Value of Preferred Stock” with respect to each share of Preferred Stock means the following, as applicable: (i) If this Warrant is being exercised in conjunction with and effective upon the initial public offering of the Company’s Common Stock pursuant to a registration statement filed under the Securities Act of 1933, as amended (the “IPO”), then the Current Fair Market Value shall be the price at which the Common Stock is sold to the public in the IPO; (ii) If this Warrant is being exercised after the IPO, at any time the Company’s Common Stock is listed on any domestic securities exchange, then the Current Fair Market Value shall be (A) the volume weighted average of the closing sales prices of the Common Stock for the business day preceding the exercise day on all domestic securities exchanges on which the Common Stock may at the time be listed or (B) if there have been no sales of the Common Stock on any such exchange on any such business day, the average of the highest bid and lowest asked prices for the Common Stock on all such exchanges at the end of such business day; and (iii) If neither (i) or (ii) is applicable, then the Current Fair Market Value shall be the fair market value per share as determined by the Board of Directors of the Company. 2. Amendment to Section 1(a)

Net-Issuance Exercise. At any time during the Exercise Period the Holder may elect to receive by delivery of a duly executed Net Issuance Form at the Exercise Location, without the payment by the Holder of any additional consideration, a number of fully-paid non-assessable Warrant Shares as is computed by the following formula: X = Y (A-B) where