Warrant Cancellations Sample Clauses

The Warrant Cancellations clause defines the conditions and procedures under which outstanding warrants may be cancelled by the issuing company. Typically, this clause outlines specific events that trigger cancellation, such as the expiration of the warrant's term, failure to meet exercise requirements, or certain corporate actions like mergers or acquisitions. By clearly specifying when and how warrants can be cancelled, this clause helps prevent disputes and ensures both parties understand the circumstances that could lead to the termination of warrant rights.
Warrant Cancellations. If the following conditions (the “Cancellation Conditions”) have been met within thirty-six (36) months of the date hereof, then Warrant E shall be automatically cancelled. Furthermore, if the Cancellation Conditions have not been met, then the Company shall not be permitted to issue any warrants to any party including, without limitation, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ (“▇▇▇▇▇▇▇▇”). Once the Cancellation Conditions have been met, ▇▇▇▇▇▇▇▇ shall be issued a warrant for the same number of shares as are represented by Warrant E; however, at such time, the Company still shall not be permitted to issue any other warrants. (i) All of the Company’s outstanding obligations to the Purchaser have been repaid; (ii) The Company’s Total Debt (as defined below) divided by the aggregate amount of EBITDA (as defined below) for a twelve month period has not exceeded 4.0 for four consecutive months. (iii) For purposes of this Agreement, “EBITDA” shall mean earnings before interest, taxes, depreciation and amortization, determined in accordance with generally accepted accounting principles as in effect from time to time in the United States of America, and for avoidance of doubt, shall not give effect to any extraordinary non-cash gains or non-cash losses.
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Warrant Cancellations. Evidence reasonably satisfactory to Purchaser that all of the Warrants have been cancelled.
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Warrant Cancellations. (a) If the Company’s Operating Cash Flow (as defined below) for any two (2) consecutive months during the thirteen (13) month period following the Closing Date is greater than $0 (as reflected in the Company’s financial statements delivered in accordance with Section 6.4), then Warrants A-2 and B-2 (as more fully described on Schedule II) shall automatically, and without the requirement of any further action by any party, be cancelled and terminated. (b) If, prior to the second anniversary of the Closing Date, the Company repays the Obligations, then both Warrants A-3 and B-3 (as more fully described on Schedule II) shall automatically, and without the requirement of any further action by any party, be cancelled and terminated. (c) For purposes of this Agreement, “Operating Cash Flow” shall mean net cash flow from operations according to GAAP as it appears on the Company's cash flow statement delivered to Agent in accordance with Section 6.4. (d) Upon cancellation of any Warrant, the Purchaser then holding such Warrants shall cause the original of such Warrants to be returned to the Company.
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Warrant Cancellations. Agreements from all Warrant Holders relating to the cancellation of Warrants as provided in Section 3.6 hereof shall have been delivered to Parent.
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Warrant Cancellations. If, prior to the fourteen month anniversary of the date hereof: (a) the Company’s obligations to the Purchaser under the Note have been reduced to $12,500,000 or less, then Warrant B shall automatically be cancelled and terminated; (b) the Company’s obligations to the Purchaser under the Note have been reduced to zero, then Warrant C shall automatically be cancelled and terminated.
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Related to Warrant Cancellations

  • Cancellation of Surrendered Warrants All Warrant Certificates surrendered pursuant to Article 3 shall be cancelled by the Warrant Agent and upon such circumstances all such Uncertificated Warrants shall be deemed cancelled and so noted on the register by the Warrant Agent. Upon request by the Corporation, the Warrant Agent shall furnish to the Corporation a cancellation certificate identifying the Warrant Certificates so cancelled, the number of Warrants evidenced thereby, the number of Common Shares, if any, issued pursuant to such Warrants and the details of any Warrant Certificates issued in substitution or exchange for such Warrant Certificates cancelled.

  • Cancellation of Warrant Certificates Any Warrant Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall, if surrendered to the Company, be delivered to the Warrant Agent and all Warrant Certificates surrendered or so delivered to the Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this Agreement, no Warrant Certificate shall be issued hereunder in exchange therefor or in lieu thereof. The Warrant Agent shall deliver to the Company from time to time or otherwise dispose of canceled Warrant Certificates in a manner satisfactory to the Company.

  • Cancellation and Destruction of Warrant Certificates All Warrant Certificates surrendered for the purpose of exercise, transfer, split up, combination or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for cancellation or in canceled form, or, if surrendered to the Warrant Agent, shall be canceled by it, and no Warrant Certificates shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement. The Company shall deliver to the Warrant Agent for cancellation and retirement, and the Warrant Agent shall so cancel and retire, any other Warrant Certificate purchased or acquired by the Company otherwise than upon the exercise thereof. The Warrant Agent shall deliver all canceled Warrant Certificates to the Company, or shall, at the written request of the Company, destroy such canceled Warrant Certificates, and in such case shall deliver a certificate of destruction thereof to the Company, subject to any applicable law, rule or regulation requiring the Warrant Agent to retain such canceled certificates.

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.

  • Contract Cancellation DCF may cancel this Contract after providing the Contractor with thirty (30) calendar days written notice of the Contractor’s right to cure a failure of the Contractor to perform under the terms of this Contract. The following are examples of contractor failure that would warrant cancellation: • Breaches or defaults an obligation under the Contract as follows: • Fails to follow the sales and use tax certification requirements of s. 77.66 of the Wisconsin Statutes; • Incurs a delinquent Wisconsin tax liability; • Fails to submit a non-discrimination or affirmative action plan as required here in; • Fails to follow the non-discrimination or affirmative action requirements of subch. II, Chapter 111 of the Wisconsin Statutes (Wisconsin’s Fair Employment Law); • Becomes a Federally debarred Contractor; • Is excluded from Federal procurement and non-procurement contracts; • Fails to maintain and keep in force all required insurance, permits and licenses as provided in this Contract; • Fails to maintain the confidentiality of DCF’s information that is considered to be Confidential Information, proprietary, or containing Personally Identifiable Information; • Contractor violates other state laws; or • Contractor performance threatens the health or safety of a State employee or State customer. The Contractor may cancel this Contract after providing DCF one hundred and twenty (120) calendar days’ notice of the State’s right to cure a failure of the State to perform under the terms of this Contract. Upon cancellation of this Contract for any reason, or upon Contract expiration, each party shall be released from all obligations to the other party arising after the date of cancellation or expiration, except for those that by their terms survive such cancellation or expiration.