Examples of Electing Purchasers in a sentence
Each Purchaser that fully exercised its Series B Common Warrants shall have five (5) Trading Days following receipt of the Non-Exercise Notice or the Termination Date (if later) to notify the Holder and the Company of its election to request the Holder to transfer to such Purchaser its pro rata portion of the unexercised portion of this Warrant (an “Electing Purchaser”), based on the aggregate Subscription Amount of all such Electing Purchasers (the “Pro Rata Portion”).
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The appraised value of the Offered Interest shall be determined within thirty (30) days after selection, by a single independent appraiser selected by agreement between the Electing Purchasers and Selling Holder (or its estate or representative) and such appraiser in turn may rely on other experts.
Unless the Electing Purchasers and Selling Holder shall mutually agree upon the value for the Offered Interest, the value of the Offered Interest shall be determined by appraisal hereunder.
Each of the Electing Purchasers shall have five days after receipt of such notice to notify the Company of its election to purchase all or a portion of the unsubscribed New Securities.
At any time during or following the determination of the value of the Offered Interest by any appraiser, the Electing Purchasers may elect to terminate their exercise of the option to purchase the Offered Interest, but in that case, the Electing Purchasers shall pay the fees and expenses of the appraiser selected by the Selling Holder and Third Appraiser, as well as its own appraiser.
If the Holder fails to surrender to the Company and transfer this Warrant to the Electing Purchasers, then the Company shall cancel this Warrant on the Company’s warrant register, and shall issue replacement warrants to such Electing Purchasers.
Shareholders will receive “ speaking serial number” once they mark attendance for the meeting.
The closing of the sale of the Offered Interest to the Electing Purchasers shall take place at the principal place of business of the Company ten (10) days after the end of the Option Period (or, if such day is not a Business Day, the following Business Day), or at such other place and time as agreed to by the Selling Holder and the Electing Purchasers.
If the purchase option under this Article V is not exercised within the Option Period as to all of the Offered Interest, or if the Electing Purchasers default on their obligation to purchase all of the Offered Interest, the Selling Holder shall not otherwise sell or transfer any of the Offered Interest to any Person without again complying with the terms of this Agreement.