Examples of Initial Closing Warrants in a sentence
On or about the date hereof, the Company shall deliver to the Escrow Agent the executed Subscription Agreement, the Initial Closing Shares, Initial Closing Warrants, and Initial Closing Legal Opinion (collectively, the "Initial Closing Company Documents").
The Warrants issuable on the Initial Closing Date are referred to as Initial Closing Warrants.
Subject to the satisfaction or waiver of the terms and conditions of this Agreement, on the Initial Closing Date, each Subscriber shall purchase and the Company shall sell to each Subscriber a Note in the principal amount designated on the signature page hereto ("Initial Closing Notes") and Warrants as described in Section 2 of this Agreement ("Initial Closing Warrants").
The Borrowers shall deliver to each Initial Purchaser its respective Initial Closing Warrants.
Collectively, the Initial Closing Warrants and Second Closing Warrants are referred to herein as Warrants.
Without affecting Laurus' rights hereunder in the event the Loans exceed the Formula Amount (each such event, an "Overadvance") and provided that such Overadvacne does not constitute an Event of Default, all such Overadvances shall bear interest at an annual rate equal to one and one half percent (1.5%) of the amount of such Overadvances for each month or portion thereof such amounts shall be outstanding and in excess of the Formula Amount.
As of the Execution Date, the Investor shall have executed this Agreement, the Registration Rights Agreement, the Standstill Agreement and the Initial Closing Warrants and delivered the same to the Company.
Subject to the satisfaction or waiver of the terms and conditions of this Agreement, on the Initial Closing Date, each Subscriber shall purchase and the Company shall sell to each Subscriber a Note in the principal amount designated on the signature page hereto ("Initial Closing Notes"), and Warrants as described in Section 2 of this Agreement ("Initial Closing Warrants").
The Issuer hereby agrees to issue and deliver to the Warrant Holder on the date of the Initial Closing Warrants evidencing rights to purchase 5.51725 shares of Common Stock, subject to adjustment as provided in Section 11 hereof, for each share of Preferred Stock purchased by the Warrant Holder pursuant to the Stock Purchase Agreement on the date of the Initial Closing and at any time on or before 5:00 P.M., New York City time, on the Expiration Date at a price per share equal to the Exercise Price.
In addition, the Company sold and each Purchaser purchased at the Initial Closing Warrants to purchase the number of shares of Common Stock set forth on Schedule 1 hereto.