Exchange Cap Shares definition
Examples of Exchange Cap Shares in a sentence
If, due to the Company’s failure to timely obtain any Subsequent Singapore Stockholder Approval, the Company is prohibited from issuing Ordinary Shares (the “Capped Shares”), the Company shall pay cash in exchange for the cancellation of such portion of this Note convertible into such Capped Shares at a price equal to the product of (x) such number of Exchange Cap Shares multiplied by (y) the Closing Sale Price on the day before the date that the Holder became entitled to receipt of such shares hereunder.
In the event that on the date four (4) months from the date of the Conversion Notice (the “Exchange Cap Deadline”), the Maker is prohibited from issuing any shares of Common Stock pursuant to this Section 4.4(c) (the “Exchange Cap Shares”), the Maker shall pay to the Holder, as partial liquidated damages and not as a penalty, the dollar amount due in accordance with the provisions of Section 4.3(c) commencing on the Exchange Cap Deadline until the date the Exchange Cap Shares are delivered pursuant hereto.