Vesting of Warrants. The Warrants represented by this Warrant Certificate shall vest and become immediately exercisable once all Tranche A Warrants have been exercised in accordance with their terms, and shall remain exercisable by the Holder, in whole or in part at any time, and from time to time, thereafter and prior to the Expiry Time.
Vesting of Warrants. The Warrants represented by this Warrant Certificate are fully vested and are immediately exercisable by the Holder at any time and from time to time, commencing on the date hereof and prior to the Expiry Time.
Vesting of Warrants. The Warrants shall vest immediately upon the execution of this Agreement.
Vesting of Warrants. (a) The Warrants shall be vested in quantities of 100,000 (one hundred thousand) warrants each time and only when the Company and/or its subsidiaries (“OTI”) receive a firm orders or tender awards (each, a “Project”), in which SFG has been directly involved in the promotion and/or funding of, and provided that in such each Project provides to OTI an the amount of no less than of US$ 1,000,000 (One million US$) with a potential of an additional amount of not less than US$ 5,000,000 (Five million USD).
(b) Such allocation of Warrants shall be on a Project by Project basis. Each Project shall be limited to a single vesting of Warrants in quantities of 100,000 (one hundred thousand), even if the amounts received by OTI (or potential amounts) exceed the amounts detailed in subsections (a) above.
(c) Notwithstanding anything to the contrary, unvested Warrants may not be exercised.
Vesting of Warrants. All Warrants granted to AOL hereunder shall vest ------------------- upon the issuance of the Warrants, discussed in Section 12.4 of this Agreement, and shall contain a cashless exercise provision.
Vesting of Warrants. 3.1 The Warrants vest in equal tranches over three years after the date of grant, with 1/3 of the Warrants vesting each year. This means that the first 1/3 of the Warrants will vest on 14 September 2021, the second 1/3 will vest on 14 September 2022 and the final 1/3 on 14 September 2023. The date on which Warrants vest is referred to as the "Vesting Date". Warrants are not subject to any performance targets other than the share price, which must be higher at the time of vesting than at the time of grant for the Warrants to have any value. The period from the Grant Date until the Vesting Date is referred to as the Vesting Period.
3.2 For the Warrants to vest, the Warrant Holder must be employed by the Employer throughout the Vesting Period.
Vesting of Warrants. This Warrant shall vest and become exercisable immediately.
Vesting of Warrants. The Warrants represented by this Warrant Certificate shall vest and become exercisable as follows:
(a) 50% of the Warrants represented by this Warrant Certificate shall vest and become exercisable by the Holder on the First Tranche Vesting Date and shall remain exercisable by the Holder, in whole or in part at any time and from time to time, prior to the Expiry Time; and
(b) 50% of the Warrants represented by this Warrant Certificate shall vest and become exercisable by the Holder on the Second Tranche Vesting Date and shall remain exercisable by the Holder, in whole or in part at any time and from time to time, prior to the Expiry Time, in each case, provided that, at the time of exercise by the Holder, in whole or in part, in accordance with the terms of this Warrant Certificate, the Holder (together with the Holder’s Affiliates) is the registered and beneficial owner of not less than 18,876,901 Common Shares (subject to adjustment in the event of any share dividend, share split, share consolidation, recapitalization or other similar transaction with respect to the Common Shares).
Vesting of Warrants. (a) Subject to the earlier termination of this Warrant as provided in Section 5(b) the Shares issuable upon exercise of this Warrant in accordance with the terms hereof shall vest as follows:
(i) [****];
(ii) [****];
(iii) [****];
(iv) [****];
(v) [****]; All determinations and calculations with respect to the satisfaction of the conditions to the vesting of any of the foregoing Shares shall be made by the Board of Directors of the Company or any committee thereof to which the Board of Directors has delegated such authority, in good faith in accordance with applicable law, the Articles of Incorporation and By-laws of the Company, in its sole discretion, and shall be final, conclusive and binding on all persons, including Holder, its permitted transferees, and the personal representative of its estate.
(b) In the event of a Re-conveyance of Acquired Assets, this Warrant may only be exercised as to those Shares which have vested as of the date immediately preceding the date of the Re-conveyance of Acquired Assets, in accordance with Section 5 (a) above. Anything herein to the contrary notwithstanding, as of the date of the date of the Re-conveyance of Acquired Assets, no further Shares will vest hereunder.
Vesting of Warrants. (a) Sponsor hereby agrees that it will place, or cause to be placed, the Warrants into escrow to be transferred to a mutually agreed upon escrow agent pursuant to a customary escrow agreement to be mutually agreed upon by Sponsor, SPAC, Pubco and the Company, such escrow agent holding the Warrants as nominee and for the benefit of Sponsor, subject always to the terms of this Agreement and such escrow agreement. The Warrants shall become fully vested such that they shall be released from escrow pursuant to such escrow agreement, and delivered to be held directly by Sponsor immediately upon the satisfaction of the vesting and forfeiture set forth below:
(i) if, at any time following the Closing, the 10-Day VWAP of the Pubco Ordinary Shares is greater than or equal to $11.50 (the “Price Target”), 7,239,375 of the Warrants shall become immediately vested;
(ii) if, at any time following the first anniversary of the Closing, the 10-Day VWAP of the Pubco Ordinary Shares is greater than or equal to the Price Target, 4,826,250 of the Warrants shall become immediately vested;
(iii) if, at any time following the second anniversary of the Closing, the 10-Day VWAP of the Pubco Ordinary Shares is greater than or equal to the Price Target, 4,021,875 of the Warrants shall become immediately vested; and provided, that, in each case of clauses (i), (ii) and (iii), the Price Target shall be equitably adjusted for any share splits, share dividends, reorganizations, combinations, recapitalizations and similar transactions affecting the Pubco Ordinary Shares.
(b) For purposes of this Section 5, “10-Day VWAP” means, for any security as of a particular date, the dollar volume-weighted average price of such security on the principal securities exchange or securities market on which such security is then traded for the ten consecutive trading days immediately preceding (but excluding) such date, or, if the foregoing does not apply, the dollar volume-weighted average price of such security on the over-the-counter market on which such security is then traded for the ten consecutive trading days immediately preceding (but excluding) such date.
