Bank Warrants definition
Examples of Bank Warrants in a sentence
At the Effective Time, all of the issued and outstanding shares of the Bank Common Stock will be exchanged for shares of Company Common Stock at the ratio of one-for-one (1:1) and all of the issued and outstanding Bank Warrants will be exchanged for Company Warrants at the ratio of one-for-one (1:1) and thereupon cancelled.
At all times after the Effective Time of the Share Exchange, the Holding Company shall reserve for issuance such number of shares of Holding Company Stock as shall be necessary to permit the exercise of the Bank Restricted Stock, Bank Warrants and Bank Options in the manner contemplated by the Agreement.
At the Effective Date and Time, the Company Warrants to be exchanged for all of the issued and outstanding Bank Warrants will constitute valid and legally issued Company Warrants.
On the Effective Date, by reason of the Exchange, each of the issued and outstanding Bank Warrants shall be converted into the right to receive one (1) whole warrant of Company Warrants and all of the issued and outstanding Bank Warrants shall thereupon be cancelled.
It is intended that the foregoing assumption of the Bank Restricted Stock, Bank Warrants and Bank Options shall satisfy all the requirements under Section 424(a) of the IRC and be undertaken in a manner that will not constitute a “modification” as defined in Section 424(h) of the IRC as to any stock option which is an incentive stock option as defined in Section 422 of the IRC.