Examples of Compensation Option Warrants in a sentence
Each of the Underwriters acknowledges and agrees that the Compensation Warrants, the Compensation Option Units and the Compensation Option Warrants may not be exercised in the United States or by or on behalf or for the benefit of a U.S. Person or a person in the United States, unless such exercise is not subject to registration under the U.S. Securities Act or the securities laws of any state of the United States.
The Unit Shares, Warrants, Warrant Shares, Compensation Options, Compensation Option Units, Compensation Option Unit Shares, Compensation Option Warrants and the Compensation Option Unit Warrant Shares shall collectively be referred to as the “Offered Securities”.
If the Compensation Option Warrants are accelerated prior to the exercise of the Compensation Option, each Compensation Option Warrant will expire 30 days after the date of exercise of the Compensation Option.
The Compensation Options, Compensation Option Units, Compensation Option Shares and Compensation Option Warrants shall be referred to herein as the “Compensation Securities”.
If the Compensation Options are exercised and the Compensation Option Warrants issued, if exercised, would result in gross proceeds of US$878,148.
The Company will ensure that the Compensation Option Warrants shall be duly and validly created, authorized and issued and shall have the attributes corresponding to the description thereof set forth in this Agreement and the Compensation Option Certificates.
As at December 31, 2006, none of the 97,572 Compensation Option Warrants have been issued as a result of the Compensation Options not being exercised.
A total of 3,766,781 Warrants, of which 3,536,057 Warrants shall be issuable to purchasers of Units, and of which up to a maximum of 230,724 Compensation Option Warrants shall be issuable pursuant to the exercise of Compensation Options, are hereby created and authorized to be issued on the applicable Issue Date in accordance with the terms and conditions hereof.
The Compensation Option Warrant Shares have been duly and validly authorized for issuance and, when issued, delivered and paid for upon the due exercise of the Compensation Option Warrants in accordance with the terms of Compensation Option Warrant Certificates, will be validly issued as fully paid and non-assessable Common Shares.
The Company will ensure that at all times prior to expiry of the Compensation Option Warrants, sufficient Compensation Option Warrant Shares are allotted for issuance upon the due and proper exercise of the Compensation Option Warrants.