Accelerated Expiry definition

Accelerated Expiry means the accelerated expiry of the Subscription Receipt Warrants issuable upon conversion of the Subscription Receipts, which may be invoked by the Company if, over a period of 10 consecutive trading days following the date of issuance of the Subscription Receipt Warrants, the volume weighted average trading price of the Common Shares on the TSXV equals or exceeds $0.60 on each of those 10 consecutive days, by the Company giving notice in writing to the holders of the Subscription Receipt Warrants that the Subscription Receipt Warrants shall expire on the date that is the earlier of (i) the 30th day following the giving of such notice unless exercised by the holders prior to such date, and (ii) the original expiry date of the Subscription Receipt Warrants; “BCBCA” means the Business Corporations Act (British Columbia); “Bitcoin” or “Bitcoin Cash” means a type of a Virtual Currency based on an open-source math- based protocol existing on the Bitcoin Network and utilizing cryptographic security; “Bitcoin Network” means the online, end-user-to-end-user network hosting the public transaction ledger, known as the Blockchain, and the source code comprising the basis for the math-based protocols and cryptographic security governing the Bitcoin Network; “Block” means a packet of data containing information on past transactions, which in combination make up a Blockchain network; “Blockchain” means a distributed ledger comprised of Blocks that serves as a historical transaction record of all past transactions and can be accessed by anyone with appropriate permissions. Blocks are chained together using cryptographic signatures; “Board of Directors” means the board of directors of the Company; “Closing Date” means June 9, 2021, the closing date of the Acquisition; “coincurve.com” means the Company’s Virtual Currency platform that enables users to buy, sell and spend Virtual Currency and that is accessible at www.coincurve.com; “Crypto Assets” means virtual currencies held by the Company either as long-term investment or for operational purposes; “Financial Statements” means the audited annual financial statements of the Company for the years ended February 28, 2022, and February 28, 2021; “Interlapse” means Interlapse Technologies Corp. prior to completion of the Acquisition and its change of name to “LQwD FinTech Corp.” upon completion of the Acquisition; “Lightning Network” means the decentralized payment processing network that operates on top of the Bitcoin Netwo...

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Accelerated Expiry has the meaning set forth in section 3.5; “Acceleration Notice” has the meaning set forth in section 3.5;

Accelerated Expiry means the right of the Company to elect to accelerate the expiry date of the April 2023 Warrants in the event that the volume weighted average trading price of the Company’s Common Shares on any recognized stock exchange equals or exceeds $2.00 for any five

Examples of Accelerated Expiry in a sentence

• Such written notice shall identify in reasonable detail the particulars of the acceleration event and identify the date (the "Warrant Accelerated Expiry Date") set for accelerated expiry, which in no event shall be less than 30 days after the mailing date of the written notice.

• For greater certainty, all Warrants shall expire and be of no further force or effect as of 4:30 pm (Pacific Time) on the Warrant Accelerated Expiry Date.

• If the Purchaser does not exercise those remaining Warrants subjected to the Second Acceleration by the Second Accelerated Expiry Date, then those Warrants shall be deemed to be cancelled and have no force and effect.

• If the Purchaser does not exercise those Warrants subjected to the First Acceleration by the First Accelerated Expiry Date, then those Warrants shall be deemed to be cancelled and have no force and effect.

• All Warrants that remain unexercised following the Accelerated Expiry Date shall immediately expire and all rights of holders of such Warrants shall be terminated without any compensation to such holder.

• For greater certainty, all Warrants shall expire and be of no further force or effect as of 4:30 pm (Pacific Time) on the Warrant Accelerated Expiry Date, We require from your signature at the bottom of this letter, signifying your acknowledgement and recognition of the terms within, and we also require a signature from you on the MUTUAL RELEASE, attached.

• All Warrants that remain unexercised following the Accelerated Expiry Time shall immediately expire and all rights of holders of such Warrants shall be terminated without any compensation to such holder.

• All Warrants not exercised on or before 5:00 p.m. (New York time) on the Accelerated Expiry Date shall automatically terminate and expire, and be of no further force or effect, and the Holders shall thereafter have no right in respect thereof.

• Such written notice shall identify in reasonable detail the particulars of the acceleration event and identify the date (the "Warrant Accelerated Expiry Date") set for accelerated expiry, which in no event shall be less than 5 days after the mailing date of the written notice.

• During the term of the Incentive Warrants, should the Executive cease to be an employee of the Company for any reason, other than as a result of a termination pursuant to Section 6.1(3) or Section 6.1(5), the Incentive Warrants which have not then vested will immediately prior to the Date of Termination be deemed to become vested and such Incentive Warrants will remain exercisable until the Accelerated Expiry Date.