Capped Shares definition
Examples of Capped Shares in a sentence
After the Company obtains the Stockholder Approval, the Company will deliver, upon conversion (other than a conversion pursuant to Section 401(b)(2), Common Stock, cash or a combination of cash and Common Stock and the aggregate number of shares the Company may deliver pursuant to this ARTICLE FOUR will no longer be limited to the Capped Shares.
Notwithstanding the foregoing, until the Company obtains the Stockholder Approval, the aggregate shares of Common Stock the Company may deliver pursuant to this ARTICLE FOUR will be limited to the Capped Shares.
No later than June 30, 2025, or such later date as agreed in writing by the Parties, the Company will hold a special meeting of shareholders (the “Shareholder Meeting”), the proxy materials for which shall include, in a form reasonably acceptable to the Holders, a proposal soliciting the affirmative vote of the Company’s shareholders in favor of resolutions (“Shareholder Resolutions”) to approve the issuance of any and all Capped Shares (the “Shareholder Approval”).
In the event such Holder is required to but does not deliver the Clearance Certificate (and cash, if applicable), Trident Exploration shall be entitled to withhold from the payment to such Holder, cash in an amount up to 25% of the Call Purchase Price of the purchased Lower Capped Shares or Upper Capped Shares.
If, due to the Company’s failure to timely obtain any Subsequent Singapore Stockholder Approval, the Company is prohibited from issuing Ordinary Shares (the “Capped Shares”), the Company shall pay cash in exchange for the cancellation of such portion of this Note convertible into such Capped Shares at a price equal to the product of (x) such number of Exchange Cap Shares multiplied by (y) the Closing Sale Price on the day before the date that the Holder became entitled to receipt of such shares hereunder.
Immediately upon the payment of the Lower Cap Premium or Upper Cap Premium, as applicable, of the exercised Warrant being paid to such Holder, such Holder shall be deemed to have transferred the Lower Capped Shares or the Upper Capped Shares, as the case may be, to Trident Exploration in consideration of Trident Exploration (i) cancelling as fully paid the relevant Exercise Price Loan; and (ii) paying the Lower Cap Premium or Upper Cap Premium, as applicable, to such Holder.
The Lower Capped Shares and Upper Capped Shares shall be purchased by the Corporation from all the Holders on a pro rata basis as determined based on each Holder’s ownership of Warrants on the date set for such exercise (the “Call Exercise Date”) in accordance with the provisions set out in Section 5.3.
No later than December 31, 2024, or such later date as agreed in writing by the Parties, the Company will hold a special meeting of shareholders (the “Shareholder Meeting”), the proxy materials for which shall include, in a form reasonably acceptable to the Lenders, a proposal soliciting the affirmative vote of the Company’s shareholders in favor of resolutions (“Shareholder Resolutions”) to approve the issuance of any and all Capped Shares (the “Shareholder Approval”).
No later than February 28, 2025, or such later date as agreed in writing by the Parties, the Company will hold a special meeting of shareholders (the “Shareholder Meeting”), the proxy materials for which shall include, in a form reasonably acceptable to the Lenders, a proposal soliciting the affirmative vote of the Company’s shareholders in favor of resolutions (“Shareholder Resolutions”) to approve the issuance of any and all Capped Shares (the “Shareholder Approval”).