Outstanding Warrants. (a) Warrants outstanding at any time are all Warrants that have been executed by the Partnership except for: (i) Warrants canceled by the Partnership or delivered to the Partnership for cancellation; (ii) Warrants exercised by the Holder thereof; and (iii) any Warrant which has been replaced pursuant to Section 2.04 unless and until the Partnership receives proof satisfactory to it that the replaced Warrant is held by a bona fide purchaser, in which case the replacement Warrant issued pursuant to Section 2.04 shall be automatically canceled.
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Samples: Warrant Agreement (Teekay Offshore Partners L.P.), Warrant Agreement (Teekay Corp), Warrant Agreement (Teekay Offshore Partners L.P.)
Outstanding Warrants. (a) Warrants outstanding at any time are all Warrants that have been executed by the Partnership except for:
(i) Warrants canceled by the Partnership or delivered to the Partnership for cancellation;; KE 47847727 137007356.2
(ii) Warrants exercised by the Holder thereof; and
(iii) any Warrant which has been replaced pursuant to Section 2.04 unless and until the Partnership receives proof satisfactory to it that the replaced Warrant is held by a bona fide purchaser, in which case the replacement Warrant issued pursuant to Section 2.04 shall be automatically canceled.
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