Exchange Cap definition
Examples of Exchange Cap in a sentence
The Exchange Cap shall be appropriately adjusted for any stock dividend, stock split, reverse stock split, or similar transaction.
In the event that any Holder shall sell or otherwise transfer any of such Xxxxxx’s Preferred Shares, the transferee shall be allocated a pro rata portion of such Holder’s Exchange Cap Allocation with respect to such portion of such Preferred Shares so transferred, and the restrictions of the prior sentence shall apply to such transferee with respect to the portion of the Exchange Cap Allocation so allocated to such transferee.
Notwithstanding the above, the Company shall not be required to hold a Stockholder Meeting or seek Stockholder Approval any time following the time when the Preferred Shares are no longer outstanding if upon full exercise of the Warrants, the shares of Common Stock issued pursuant to the Preferred Shares and Warrants would not exceed the Exchange Cap.
In the event that the Buyer shall sell or otherwise transfer any of such Buyer’s Note, the transferee shall be allocated a pro rata portion of such Exchange Cap, and the restrictions of the prior sentence shall apply to such transferee with respect to the portion of the Exchange Cap allocated to such transferee.
Until such Shareholder Approval is obtained, the Buyer shall not be issued in the aggregate, pursuant to the Agreement (including the Commitment Shares) and shares of Common Stock issued upon conversion of the Note, shares of Common Stock in an amount greater than the Exchange Cap.