Common use of Term and Exercise of Warrants Clause in Contracts

Term and Exercise of Warrants. (a) Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, commencing the date hereof (the “Issuance Date”) and ending on the ten-year anniversary of the issuance date of this Warrant (the “Expiration Date”). (b) The Warrant entitles the holder thereof to purchase Shares from the Company, commencing on the Issuance Date upon surrender of this Warrant, delivery of the Notice of Exercise form attached hereto (the “Notice of Exercise”) duly executed to the office of the Company, Dragonfly Energy Holdings Corp., Attention: Chief Financial Officer, 1000 Xxxxxxxxx Xx. #000, Xxxx, XX 00000 lxxxx@xxxxxxxxxxxxx.xxx (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) and payment of the Warrant Price (by cash or by check or bank draft payable to the order of the Company or pursuant to Section 1(d) below) whereupon the Holder shall be entitled to receive from the Company a stock certificate representing the number of Shares so purchased. In no event will the Company be required to net cash settle any warrant exercise. (c) The Holder shall have the right, in lieu of paying the Warrant Price in cash, to surrender a number of Warrants having a Fair Market Value equal to the aggregate Warrant Price (a “Cashless Exercise”).

Term and Exercise of Warrants. (a) Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, commencing the date hereof (the “Issuance Date”) and ending on the ten-year anniversary of the issuance date of this Warrant (the “Expiration Date”). (b) The Warrant entitles the holder thereof to purchase Shares from the Company, commencing on the Issuance Date upon surrender of this Warrant, delivery of the Notice of Exercise form attached hereto (the “Notice of Exercise”) duly executed to the office of the Company, Dragonfly Energy Holdings Corp., Attention: Chief Financial Officer, 1000 Xxxxxxxxx Xx. #000, Xxxx, XX 00000 lxxxx@xxxxxxxxxxxxx.xxx lxxxx@xxxxxxxxxxxxxxx.xxx (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) and payment of the Warrant Price (by cash or by check or bank draft payable to the order of the Company or pursuant to Section 1(d) below) whereupon the Holder shall be entitled to receive from the Company a stock certificate representing the number of Shares so purchased. In no event will the Company be required to net cash settle any warrant exercise. (c) The Holder shall have the right, in lieu of paying the Warrant Price in cash, to surrender a number of Warrants having a Fair Market Value equal to the aggregate Warrant Price (a “Cashless Exercise”).

Term and Exercise of Warrants. (a) Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, commencing the date hereof (the “Issuance Date”) and ending on the ten-year anniversary of the issuance date of this Warrant (the “Expiration Date”). (b) The Warrant entitles the holder thereof to purchase Shares from the Company, commencing on the Issuance Date upon surrender of this Warrant, delivery of the Notice of Exercise form attached hereto (the “Notice of Exercise”) duly executed to the office of the Company, Dragonfly Energy Holdings Corp., Attention: Chief Financial Officer, 1000 Xxxxxxxxx Xx. #000, Xxxx, XX 00000 lxxxx@xxxxxxxxxxxxx.xxx (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) and payment of the Warrant Price (by cash or by check or bank draft payable to the order of the Company or pursuant to Section 1(d) below) whereupon the Holder shall be entitled to receive from the Company a stock certificate representing the number of Shares so purchased. In no event will the Company be required to net cash settle any warrant exercise. (c) The Holder shall have the right, in lieu of paying the Warrant Price in cash, to surrender a number of Warrants having a Fair Market Value equal to the aggregate Warrant Price (a “Cashless Exercise”). 1 To equal 5.6% of the Company’s fully diluted equity securities at the time of issuance.

Term and Exercise of Warrants. (a) Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, commencing the date hereof (the “Issuance Date”) and ending on the tenfive-year anniversary of the issuance date of this Warrant (the “Expiration Date”). (b) The Warrant entitles the holder thereof to purchase that number of Shares from the CompanyCompany calculated in accordance with Section 1(c) below, commencing on the Issuance Date upon surrender of this Warrant, delivery of the Notice of Exercise form attached hereto (the “Notice of Exercise”) duly executed to the office of the Company, Dragonfly Energy Holdings Corp., Attention: Chief Financial Officer, 1000 0000 Xxxxxxxxx Xx. #000, Xxxx, XX 00000 lxxxx@xxxxxxxxxxxxx.xxx (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) and payment of the Warrant Price (by cash or by check or bank draft payable to the order of the Company or pursuant to Section 1(d) belowCompany) whereupon the Holder shall be entitled to receive from the Company a stock certificate representing the number of Shares so purchased. In no event will the Company be required to net cash settle any warrant exercise. (c) The number of Shares for which this Warrant is exercisable shall be calculated as follows: i. Initially, this Warrant shall be exercisable for 1,600,000 Shares. ii. If the registration statement (the “Registration Statement”) registering the shares of Common Stock to be issued pursuant to that certain ChEF Purchase Agreement by and between Chardan Capital Markets LLC and Dragonfly Energy Holdings Corp., including any modification, amendment or replacement thereof (the “Committed Equity Facility”) has not been declared effective by SEC on or before the date that is 121 days after the Issuance Date, the number of Shares for which this Warrant is exercisable shall be increased by an additional 200,000 Shares. iii. If the Registration Statement has not been declared effective by the SEC by the date that is 151 days after the Issuance Date, the number of Shares for which this Warrant is exercisable shall be increased by an additional 200,000 Shares. iv. If the Registration Statement has not been declared effective by the SEC by the date that is 181 days after the Issuance Date, the number of Shares for which this Warrant is exercisable shall be increased by an additional 200,000 Shares, and an additional 200,000 Shares shall be added to the number of Shares for which this Warrant is exercisable on each date that is 30 days following the prior date on which an additional 200,000 Shares were added to the number of Shares for which this Warrant is exercisable, until the Registration Statement is declared effective. v. At any time after the Issuance Date and prior to the exercise in full of this Warrant, the Company shall, at the Holder’s request, issue a certificate in a form and substance reasonably satisfactory to the Holder setting forth the number of Shares for which this Warrant is then exercisable. vi. Following the effectiveness of the Registration Statement, the Company shall, at the Holder’s request, issue a replacement Warrant, on terms identical to this Warrant except that this Section 1(c) shall be replaced with a statement setting forth the aggregate number of Shares for which this Warrant is exercisable. (d) The Holder shall have the right, in lieu of paying the Warrant Price in cash, to surrender a number of Warrants having a Fair Market Value equal to the aggregate Warrant Price (a “Cashless Exercise”).

Term and Exercise of Warrants. (a) Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, commencing the date hereof (the “Issuance Date”) and ending on the ten-year anniversary of the issuance date of this Warrant (the “Expiration Date”). (b) The Warrant entitles the holder thereof to purchase Shares from the Company, commencing on the Issuance Date upon surrender of this Warrant, delivery of the Notice of Exercise form attached hereto (the “Notice of Exercise”) duly executed to the office of the Company, Dragonfly Energy Holdings Corp., Attention: Chief Financial Officer, 1000 Xxxxxxxxx Xx. #000, Xxxx, XX 00000 lxxxx@xxxxxxxxxxxxx.xxx (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) and payment of the Warrant Price (by cash or by check or bank draft payable to the order of the Company or pursuant to Section 1(d) belowCompany) whereupon the Holder shall be entitled to receive from the Company a stock certificate representing the number of Shares so purchased. In no event will the Company be required to net cash settle any warrant exercise. (c) The Holder shall have the right, in lieu of paying the Warrant Price in cash, to surrender a number of Warrants having a Fair Market Value equal to the aggregate Warrant Price (a “Cashless Exercise”).

Term and Exercise of Warrants. (a) Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, commencing the date hereof of the earliest of (a) Shareholder Approval of both the Reverse Split and Nasdaq Compliance Waiver (and the filing of an amendment to the certificate of incorporation of the Company to effect the Reverse Split as required under the General Delaware Corporation Law) and (b) the 91st day after the initial Closing of the sale of the Notes under the Securities Purchase Agreement (the “Issuance Exercisable Date”) and ending on the tenfive-year anniversary of the issuance date of this Warrant Issuance Date (the “Expiration Date”). Within two business days of the filing of such amendment to its certificate of incorporation, the Company shall deliver written instruction to its common stock transfer agent to reserve all shares of common stock issuable upon exercise of this Warrant. (b) The Warrant entitles the holder thereof to purchase Shares from the Company, commencing on the Issuance Exercisable Date upon surrender of this Warrant, delivery of the Notice of Exercise form attached hereto (the “Notice of Exercise”) duly executed to the office of the Company, Dragonfly Energy Holdings Corp.LUXURBAN HOTELS INC., Attention: Chief Financial Officer, 1000 Xxxxxxxxx Xx. #2000 Xxxxxxxx Xxxx, Xxxxx 000, XxxxXxxxx, XX 00000 lxxxx@xxxxxxxxxxxxx.xxx mxxxx@xxxxxxxxxxxxxx.xxx (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) and payment of the Warrant Exercise Price (by cash or by check or bank draft payable to the order of the Company or pursuant to Section 1(d) belowCompany) whereupon the Holder shall be entitled to receive from the Company a stock certificate representing the number of Shares so purchased. In no event will the Company be required to net cash settle any warrant exercise. (c) The Holder shall have the right, in lieu of paying the Warrant Price in cash, to surrender a number of Warrants having a Fair Market Value equal to the aggregate Warrant Price (a “Cashless Exercise”).

Term and Exercise of Warrants. (a) Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, commencing the date hereof (the “Issuance Exercisable Date”) that is (1) day after the date an amendment to the certificate of incorporation of the Company, as amended (the “Charter”, such amendment the “Charter Amendment”) to increase the Company’s authorized capital from 100 million shares (currently comprised of 90 million shares of common stock and 10 million shares of preferred stock) to 220 million shares (comprised of 200 million shares of common stock and 20 million shares of preferred stock) is filed and effective with the Secretary of State of the State of Delaware and ending on the ten-year anniversary of the issuance date of this Warrant Issuance Date (the “Expiration Date”). (b) The Warrant entitles the holder thereof to purchase Shares from the Company, commencing on the Issuance Exercisable Date upon surrender of this Warrant, delivery of the Notice of Exercise form attached hereto (the “Notice of Exercise”) duly executed to the office of the Company, Dragonfly Energy Holdings Corp.LUXURBAN HOTELS INC., Attention: Chief Financial Officer, 1000 Xxxxxxxxx Xx. #2000 Xxxxxxxx Xxxx, Xxxxx 000, XxxxXxxxx, XX 00000 lxxxx@xxxxxxxxxxxxx.xxx sxxxxxx@xxxxxxxxxxxxxx.xxx (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) and payment of the Warrant Exercise Price (by cash or by check or bank draft payable to the order of the Company or pursuant to Section 1(d) below) whereupon the Holder shall be entitled to receive from the Company a stock certificate representing the number of Shares so purchased. In no event will the Company be required to net cash settle any warrant exercise. Notwithstanding anything to the contrary contained herein, this Warrant shall not be exercisable until the Charter Amendment is effective with the State of Delaware. (c) The Holder shall have the right, in lieu of paying the Warrant Exercise Price in cash, to surrender a number of Warrants having a Fair Market Value equal to the aggregate Warrant Exercise Price (a “Cashless Exercise”).

Term and Exercise of Warrants. (a) Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, commencing the date hereof (the “Issuance Date”) and ending on the tenfive-year anniversary of the issuance date of this Warrant (the “Expiration Date”). (b) The Warrant entitles the holder thereof to purchase that number of Shares from the CompanyCompany calculated in accordance with Section 1(c) below, commencing on the Issuance Date upon surrender of this Warrant, delivery of the Notice of Exercise form attached hereto (the “Notice of Exercise”) duly executed to the office of the Company, Dragonfly Energy Holdings Corp., Attention: Chief Financial Officer, 1000 Xxxxxxxxx Xx. #000, Xxxx, XX 00000 lxxxx@xxxxxxxxxxxxx.xxx (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) and payment of the Warrant Price (by cash or by check or bank draft payable to the order of the Company or pursuant to Section 1(d) below) whereupon the Holder shall be entitled to receive from the Company a stock certificate representing the number of Shares so purchased. In no event will the Company be required to net cash settle any warrant exercise. (c) The number of Shares for which this Warrant is exercisable shall be calculated as follows: i. Initially, this Warrant shall be exercisable for 1,600,000 Shares. ii. If the registration statement (the “Registration Statement”) registering the shares of Common Stock to be issued pursuant to that certain ChEF Purchase Agreement by and between Chardan Capital Markets LLC and Dragonfly Energy Holdings Corp., including any modification, amendment or replacement thereof (the “Committed Equity Facility”) has not been declared effective by SEC on or before the date that is 121 days after the Issuance Date, the number of Shares for which this Warrant is exercisable shall be increased by an additional 200,000 Shares. iii. If the Registration Statement has not been declared effective by the SEC by the date that is 151 days after the Issuance Date, the number of Shares for which this Warrant is exercisable shall be increased by an additional 200,000 Shares. iv. If the Registration Statement has not been declared effective by the SEC by the date that is 181 days after the Issuance Date, the number of Shares for which this Warrant is exercisable shall be increased by an additional 200,000 Shares, and an additional 200,000 Shares shall be added to the number of Shares for which this Warrant is exercisable on each date that is 30 days following the prior date on which an additional 200,000 Shares were added to the number of Shares for which this Warrant is exercisable, until the Registration Statement is declared effective. v. At any time after the Issuance Date and prior to the exercise in full of this Warrant, the Company shall, at the Holder’s request, issue a certificate in a form and substance reasonably satisfactory to the Holder setting forth the number of Shares for which this Warrant is then exercisable. vi. Following the effectiveness of the Registration Statement, the Company shall, at the Holder’s request, issue a replacement Warrant, on terms identical to this Warrant except that this Section 1(c) shall be replaced with a statement setting forth the aggregate number of Shares for which this Warrant is exercisable. (d) The Holder shall have the right, in lieu of paying the Warrant Price in cash, to surrender a number of Warrants having a Fair Market Value equal to the aggregate Warrant Price (a “Cashless Exercise”).