Commitment Warrant definition
Examples of Commitment Warrant in a sentence
There shall be a sufficient number of authorized but unissued and otherwise unreserved Common Stock for the issuance of all of the Shares issuable pursuant to such Advance Notice and all Common Stock upon conversion and exercise of all Prepaid Advances and Commitment Warrant then outstanding.
The Commitment Warrant shall mature five years from the date of execution of this Agreement and shall have an exercise price equal to 120% of the daily VWAP on the Trading Day immediately preceding the date of execution of this Agreement (the “Exercise Price”).
The issuance and sale of the Shares and Commitment Warrant hereunder shall be made in accordance with the provisions and requirements of Section 4(a)(2) of the Securities Act or Regulation D under the Securities Act and any applicable state securities law.
At the time the Investor was offered the Shares, it was, and as of the date hereof it is, and on each date on which it exercises any Commitment Warrant Shares it will be either: (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), (a)(8), (a)(9), (a)(12), or (a)(13) under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act.
The Exercise Price and quantity of shares issuable upon exercise of the Commitment Warrants shall be subject to full price protection adjustment for dilutive offerings, subject to customary exceptions, and the Commitment Warrant shall provide for cashless exercise as provided under the Commitment Warrant.