Common use of Trading in Common Shares Clause in Contracts

Trading in Common Shares. (i) For so long as such Buyer owns any Notes, such Buyer shall not maintain a Net Short Position. For purposes hereof, a "Net Short Position" by a Person means a position whereby such Person has executed one or more sales of Common Shares that is marked as a short sale and that is executed at a time when such Buyer has no equivalent offsetting long position in the Common Shares or contract for the foregoing. For purposes of determining whether a Buyer has an equivalent offsetting long position in the Common Shares, all Common Shares (A) that are owned by such Buyer, (B) that may be issued as Interest Shares pursuant to the terms of the Notes to the Buyer, (C) that would be issuable upon conversion or exercise in full of all Securities then held by such Buyer (assuming that such Securities were then fully convertible or exercisable, notwithstanding any provisions to the contrary, and giving effect to any conversion or exercise price adjustments that would take effect given only the passage of time) or (D) that could be issuable pursuant to the Put Agreements (assuming no restriction on issuance, notwithstanding any provision to the contrary) shall be deemed to be held long by such Buyer.

Appears in 2 contracts

Samples: Securities Purchase Agreement (A-Power Energy Generation Systems, Ltd.), Securities Purchase Agreement (A-Power Energy Generation Systems, Ltd.)

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Trading in Common Shares. (i) For so long as such Buyer owns any Notes, such Buyer shall not maintain a Net Short Position. For purposes hereofof this Section, a "Net Short Position" by a Person person means a position whereby such Person person has executed one or more sales of Common Shares that is marked as a short sale and that is executed at a time when such Buyer has no equivalent offsetting long position in the Common Shares or contract for the foregoing. For purposes of determining whether a Buyer has an equivalent offsetting long position in the Common Shares, all Common Shares (Ai) that are is owned by such Buyer, (Bii) that may be issued as Interest Shares pursuant to the terms of the Notes to the Buyer, Buyer or (Ciii) that would be issuable upon conversion or exercise in full of all Securities then held by such Buyer (assuming that such Securities were then fully convertible or exercisable, notwithstanding any provisions to the contrary, and giving effect to any conversion or exercise price adjustments that would take effect given only the passage of time) or (D) that could be issuable pursuant to the Put Agreements (assuming no restriction on issuance, notwithstanding any provision to the contrary) shall be deemed to be held long by such Buyer. Without limiting the foregoing, the Buyers may engage in hedging activities at various times during the period following the public announcement of the execution of this Agreement as provided in Section 4(i), and during the period that the Notes are outstanding, including, without limitation, during the periods that the value of the Common Shares deliverable with respect to the Notes and Interest Shares is being determined.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Clearly Canadian Beverage Corp), Securities Purchase Agreement (Clearly Canadian Beverage Corp)

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