Commitment Shares definition

Commitment Shares shall have the meaning set forth in Section 12.04.

Commitment Shares means 40,323 shares of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock which, concurrently with the execution and delivery of this Agreement on the Closing Date, the Company has caused the Transfer Agent to issue and deliver to the Investor not later than 4:00 p.m. (New York City time) on the Trading Day immediately following the Closing Date.

Commitment Shares means, collectively, the Initial Commitment Shares and the Additional Commitment Shares.

Examples of Commitment Shares in a sentence

• In consideration for the Investor’s execution and delivery of, and performance under this Agreement, the Company shall cause the Transfer Agent to issue the Commitment Shares to the Investor on the Trading Day immediately following the Initial Measurement Date.

• For the avoidance of doubt, all of the Commitment Shares shall be fully earned as of the Execution Date, and the issuance of the Commitment Shares is not contingent upon any other event or condition, including, without limitation, the effectiveness of the Registration Statement or the Company’s submission of a Put Notice to the Investor and irrespective of any termination of this Agreement.

• If the Closing Trade Price on the six (6) month anniversary of the Execution Date is less than the Closing Trade Price on the Initial Measurement Date and the Effectiveness Notice Date has not yet occurred, then the Company, following a written request from the Investor, will issue additional Commitment Shares to the Investor equal to the difference between the number of Commitment Shares calculated as of the two (2) dates.

• Company covenants and agrees to issue such additional Commitment Shares to Investor from time to time within two (2) Trading Days of a written request from Investor, which request shall include confirmation of Investor’s beneficial ownership as of the date thereof, so long as such requested issuance does not cause Investor to exceed the Ownership Limitation.

• Any Commitment Shares to which Investor is entitled to pursuant to this Section 6.6 but cannot be delivered without causing Investor to exceed the Ownership Limitation will be held by Company in reserve for the sole and exclusive benefit of Investor.

More Definitions of Commitment Shares

Commitment Shares shall have the meaning set forth in Section 9.10(i).

Commitment Shares shall have the meaning ascribed to it in the Investment Agreement.

Commitment Shares means the 110,000 shares of the Restricted Company’s common stock as a commitment fee hereunder, issued to the Investor or Investor’s designee.

Commitment Shares has the meaning set forth in Section 5(e).

Commitment Shares means the shares of Common Stock to be issued by the Company to the Purchaser pursuant to Section 2.1.

Commitment Shares means 302,634 shares of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock which, concurrently with the execution and delivery of this Agreement on the Closing Date, the Company has caused its transfer agent to issue and deliver to the Investor not later than 4:00 p.m. (New York City time) on the third (3rd) Trading Day immediately following the Closing Date.

Commitment Shares shall have the meaning specified in Section 6.4.