Common use of Payment of Call Price Clause in Contracts

Payment of Call Price. Except with respect to Warrants exercised or deemed exercised in connection with a redemption of or tender offer for the Underlying Securities, each exercising Warrantholder shall deposit the applicable Call Price for all Warrants exercised by it with the Warrant Agent no later than the Business Day prior to settlement of exercise. The Warrant Agent shall notify the Trustee immediately upon its receipt of payment of the applicable Call Price. The Warrant Agent shall transfer the amount of any paid Call Price to the Trustee in immediately available funds, for deposit in the Unit Account and application pursuant to the other terms of this Trust Agreement no later than 4 p.m. New York time on the Business Day preceding the Call Date and, pending such transfer, shall hold such amount for the benefit of the Warrantholder in a segregated trust account.