December Warrants definition
Examples of December Warrants in a sentence
The December Warrants have been valued using a Binomial Lattice option pricing model and an associated discount of $15,000, measured at the commitment date, with the warrants being initially classified as a derivative liability.
Any shares of Common Stock reserved and allocated to any Person which ceases to hold any December Warrants shall be allocated to the remaining holders of December Warrants, pro rata based on the number of shares of Common Stock issuable upon exercise of the December Warrants then held by such holders (without regard to any limitations on exercise).
In the event that a holder shall sell or otherwise transfer any of such holder’s December Warrants, each transferee shall be allocated a pro rata portion of such holder’s Authorized Share Allocation.
The issuance of the December Warrants hereunder is duly authorized and upon issuance in accordance with the terms of this Agreement and the December Warrants shall be validly issued, fully paid and non-assessable and free from all preemptive or similar rights, mortgages, defects, claims, liens, pledges, charges, taxes, rights of first refusal, encumbrances, security interests and other encumbrances (collectively “Liens”) with respect to the issuance thereof.
This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns, including any purchasers of the December Warrants.
Subject to the accuracy of the representations and warranties of the Holder in this Agreement, the offer and issuance by the Company of the December Warrants and the December Warrant Shares are exempt from registration under the 1933 Act.
Upon exercise in accordance with the December Warrants, the December Warrant Shares, when issued, will be validly issued, fully paid and nonassessable and free from all preemptive or similar rights or Liens with respect to the issue thereof, with the holders thereof being entitled to all rights accorded to a holder of Common Stock.
Nothing herein contained is or shall be deemed to be a lending of the credit of the County to VRA or to any other person, and nothing herein contained is or shall be deemed to be a pledge of the faith and credit for the taxing power of the County, nor shall anything herein contained legally bind or obligate the Board to appropriate funds for the purposes described herein.
The December Warrants are exercisable for a period of three years from issuance into common shares at an exercise price of $0.25 CAD per common share.
The calculation set forth in the foregoing sentence shall be made without regard to any limitations on exercise or conversion of the December Warrants or the Existing Secuirties (and such calculation shall assume the December Warrants and Existing Securities are then exercisable or convertible, as applicable, in full into shares of Common Stock).