Net Issue Election. Notwithstanding any other provision contained herein to the contrary, the Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock 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 Appendix B duly executed, at the office of the Corporation. Thereupon, the Corporation shall issue to the Warrantholder such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A - B) A where: "X" = the number of shares of Common Stock which the Warrantholder has then requested be issued to the Warrantholder "Y" = the total number of shares of Common Stock covered by this Warrant which the Warrantholder has surrendered at such time for cash-less exercise "A" = the "Fair Market Value" of one share of Common Stock as at the time the net issue election is made "B" = the Warrant Price in effect under this Warrant at the time the net issue election is made.
Appears in 3 contracts
Samples: Registration Rights Agreement (Platinum Research Organization, Inc.), Registration Rights Agreement (Platinum Research Organization, Inc.), Warrant Purchase Agreement (Platinum Research Organization, Inc.)
Net Issue Election. Notwithstanding any other provision contained herein to the contrary, if the Warrant Shares may not be freely sold to the public for any reason (including, but not limited to, the failure of the Company to have effected the registration of the Warrant Shares or to have a current prospectus available for delivery or otherwise, but excluding the inability of the Warrantholder to sell the Warrant Shares due to market conditions), the Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock 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 Appendix B duly executed, at the office of the CorporationCompany. Thereupon, the Corporation Company shall issue to the Warrantholder such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A - B) A where: "X" where X = the number of shares of Common Stock Warrant Shares which the Warrantholder has then requested be issued to the Warrantholder "Y" Warrantholder; Y = the total number of shares of Common Stock covered by this Warrant Shares which the Warrantholder has surrendered at such time for cash-less exercise "A" (including both shares to be issued to the Warrantholder and shares to be canceled as payment therefor); A = the "Fair Market Value" Price of one a share of Common Stock as at the time the net issue election is made "B" Stock; and B = the Warrant Price in effect under this Warrant at the time the net issue election is made.
Appears in 1 contract
Net Issue Election. Notwithstanding any other provision contained herein to the contrary, the Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock 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 Appendix B duly executed, at the office of the CorporationCompany. Thereupon, the Corporation Company shall issue to the Warrantholder such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A - B) --------- A where: "X" where X = the number of shares of Common Stock which the Warrantholder has then requested be issued to the Warrantholder "Y" Y = the total number of shares of Common Stock covered by this Warrant which the Warrantholder has surrendered at such time for cash-less exercise "A" A = the "Fair Market Value" of one share of Common Stock as at the time the net issue election is made "B" B = the Warrant Price in effect under this Warrant at the time the net issue election is made.
Appears in 1 contract
Samples: Warrant Agreement (Identix Inc)
Net Issue Election. Notwithstanding any other provision contained herein to With and only with the contraryconsent of the Company in its sole discretion, the Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock 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 Appendix B duly executed, at the office of the CorporationCompany. Thereupon, the Corporation Company shall issue to the Warrantholder such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A - B) --------- A where: "X" where X = the number of shares of Common Stock which the Warrantholder has then requested be issued to the Warrantholder "Y" Warrantholder; Y = the total number of shares of Common Stock covered by this Warrant which the Warrantholder has surrendered at such time for cash-less cashless exercise "A" (including both shares to be issued to the Warrantholder and shares to be canceled as payment therefor); A = the "Fair Market Value" of one share of Common Stock as at the time the net issue election is made "B" made; and B = the Warrant Price in effect under this Warrant at the time the net issue election is made.
Appears in 1 contract
Net Issue Election. Notwithstanding any other provision contained herein to the contrary, the Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock 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 Appendix B duly executed, at the office of the CorporationCompany. Thereupon, the Corporation Company shall issue to the Warrantholder such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A Y(A - B) -------- A where: "X" where X = the number of shares of Common Stock which the Warrantholder has then requested be issued to the Warrantholder "Y" Y = the total number of shares of Common Stock covered by this Warrant which the Warrantholder has surrendered at such time for cash-less exercise "A" A = the "Fair Market Value" of one share of Common Stock as at the time the net issue election is made "B" B = the Warrant Price in effect under this Warrant at the time the net issue election is made.
Appears in 1 contract
Samples: Warrant Agreement (Visionics Corp)
Net Issue Election. Notwithstanding any other provision contained herein to the contrary, the Warrantholder Holder may elect to receive, without the payment by the Warrantholder Holder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquiredany additional consideration, shares of Common Stock 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 to the Company, with the Net Issue Election Notice annexed hereto as Appendix B of Exercise duly executed, at the office of the Corporation. Thereupon, the Corporation Company shall issue to the Warrantholder Holder such number of fully paid, validly issued paid and nonassessable shares of Common Stock as is computed using the following formula: Where: X = Y (A - B) A where: "X" = the number of shares of Common Stock which the Warrantholder has then requested to be issued to the Warrantholder "Y" Holder pursuant to this Section 2. Y = the total number of shares of Common Stock covered by this Warrant in respect of which the Warrantholder has surrendered at such time for cash-less exercise "A" net issue election is made pursuant to this Section 2. A = the "Fair Market Value" Value (defined below) of one share of Common Stock Stock, as determined at the time the net issue election is made "B" pursuant to this Section 2 (the “Determination Date”). B = the Warrant Purchase Price in effect under this Warrant at the time the net issue election is mademade pursuant to this Section 2. “Fair Market Value” of a share of Common Stock shall mean:
(i) the volume weighted average price per share of the Common Stock determined by calculating the dollars traded in every transaction in the Common Stock for the five-day trading period as reported on the OTCBB (or any other recognized securities market on which the Common Stock is traded if not then quoted on the OTCBB) divided by the total number of shares of Common Stock traded during that five-day period; or
(ii) If there is no public market for the Common Stock, then Fair Market Value shall be determined in good faith by the Company’s Board of Directors.
Appears in 1 contract
Samples: Warrant Agreement (Macrosolve Inc)
Net Issue Election. Notwithstanding any other provision contained herein to the contrary, the Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock 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 Appendix B duly executed, at the office of the CorporationCompany. Thereupon, the Corporation Company shall issue to the Warrantholder such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A - B) --------- A where: where "X" = the number of shares of Common Stock which the Warrantholder has then requested be issued to the Warrantholder "Y" = the total number of shares of Common Stock covered by this Warrant which the Warrantholder has surrendered at such time for cash-less exercise "A" = the "Fair Market Value" of one share of Common Stock as at the time the net issue election is made "B" = the Warrant Price in effect under this Warrant at the time the net issue election is made.exercise
Appears in 1 contract
Samples: Purchase Agreement (Visionics Corp)
Net Issue Election. Notwithstanding any other provision contained herein to the contrary, the Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock 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 Appendix B duly executed, at the office of the CorporationCompany. Thereupon, the Corporation Company shall issue to the Warrantholder such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A - X=Y(A-B) ------ A where: "X" where X = the number of shares of Common Stock which the Warrantholder has then requested be issued to the Warrantholder "Y" = Y= the total number of shares of Common Stock covered by this Warrant which the Warrantholder has surrendered at such time for cash-less cashless exercise "A" A = the "Fair Market Value" of one share of Common Stock as at the time the net issue election is made "B" B = the Warrant Price in effect under this Warrant at the time the net issue election is made.
Appears in 1 contract
Samples: Warrant Agreement (Identix Inc)
Net Issue Election. Notwithstanding any other provision contained herein to the contrary, if the Warrant Shares may not be freely sold to the public for any reason (including, but not limited to, the failure of the Company to have effected the registration of the Warrant Shares or to have a current prospectus available for delivery or otherwise, but excluding the inability of the Warrantholder to sell the Warrant Shares due to market conditions), the Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock 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 Appendix B duly executed, at the office of the CorporationCompany. Thereupon, the Corporation Company shall issue to the Warrantholder such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A - B) --------- A where: "X" where X = the number of shares of Common Stock Warrant Shares which the Warrantholder has then requested be issued to the Warrantholder "Y" Warrantholder; Y = the total number of shares of Common Stock covered by this Warrant Shares which the Warrantholder has surrendered at such time for cash-less exercise "A" (including both shares to be issued to the Warrantholder and shares to be canceled as payment therefor); A = the "Fair Market Value" Price of one a share of Common Stock as at the time the net issue election is made "B" Stock; and B = the Warrant Price in effect under this Warrant at the time the net issue election is made.
Appears in 1 contract
Net Issue Election. Notwithstanding any other provision contained herein to the contrary, if the Warrant Shares may not be freely sold to the public for any reason (including, but not limited to, the failure of the Company to have effected the registration of the Warrant Shares or to have a current prospectus available for delivery or otherwise, but excluding the inability of the Warrantholder to sell the Warrant Shares due to market conditions), the Warrantholder may elect to receive, without the payment by the Warrantholder of the aggregate Warrant Price in respect of the shares of Common Stock to be acquired, shares of Common Stock 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 Appendix B duly executed, at the office of the CorporationCompany. Thereupon, the Corporation Company shall issue to the Warrantholder such number of fully paid, validly issued and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A - B) A where: "X" where X = the number of shares of Common Stock which the Warrantholder has then requested be issued to the Warrantholder "Y" Warrantholder; Y = the total number of shares of Common Stock covered by this Warrant which the Warrantholder has surrendered at such time for cash-less exercise "A" (including both shares to be issued to the Warrantholder and shares to be canceled as payment therefor); A = the "Fair Market Value" of one share of Common Stock as at the time the net issue election is made "B" $1.1386; and B = the Warrant Price in effect under this Warrant at the time the net issue election is made.
Appears in 1 contract
Samples: Warrant Agreement (Artisoft Inc)