Common use of Trading Market Limitation Clause in Contracts

Trading Market Limitation. (i) Notwithstanding any other provisions in this Warrant to the contrary, unless and until the Shareholder Approval is received, no adjustment pursuant to this Section 5 shall require the Company to issue more than [ ]4 Shares upon exercise of the Warrant (“Warrant Share Cap”); provided that the Warrant Share Cap shall be adjusted in connection with any Share Reorganization in the same manner as the number of Warrant Shares is adjusted pursuant to Section 5(a). (ii) As a condition precedent to the Company consummating any transaction that, but for the application of Section 5(o)(i), would have resulted in an adjustment which would have required the Company to issue Shares upon exercise of the Warrant in excess of the Warrant Share Cap, the Company shall obtain shareholder approval and take such other actions as reasonably necessary (collectively, the “Shareholder Approval”) to permit the issuance of Shares in excess of the Warrant Share Cap.

Appears in 2 contracts

Samples: Warrant Agreement (Recro Pharma, Inc.), Credit Agreement (Recro Pharma, Inc.)

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Trading Market Limitation. (i) Notwithstanding any other provisions in this Warrant to the contrary, unless and until the Shareholder Approval is received, no adjustment pursuant to this Section 5 shall require the Company to issue more than [ ]4 an aggregate of 2,858,843 Shares upon exercise of the Warrant (“Warrant Share Cap”); provided that the Warrant Share Cap shall be adjusted in connection with any Share Reorganization in the same manner as the number of Warrant Shares is adjusted pursuant to Section 5(a). (ii) As a condition precedent to the Company consummating any transaction that, but for the application of Section 5(o)(i5(n)(i), would have resulted in an adjustment which would have required the Company to issue Shares upon exercise of the Warrant in excess of the Warrant Share Cap, the Company shall obtain shareholder approval and take such other actions as reasonably necessary (collectively, the “Shareholder Approval”) to permit the issuance of Shares in excess of the Warrant Share Cap.

Appears in 2 contracts

Samples: Common Stock Purchase Warrant (Societal CDMO, Inc.), Common Stock Purchase Warrant (Societal CDMO, Inc.)

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