Examples of Initial Exchange Shares in a sentence
Subject to Section 5.6 of the Purchase Agreement, the Holder may, at any time prior to the Maturity Date and subsequent to the earlier of the Merger Effective Date or the Merger Termination Date, exchange this Note for the number of Initial Exchange Shares equal to the quotient obtained by dividing (i) the outstanding principal balance of this Note plus all accrued and unpaid interest thereon by (ii) the Conversion Price.
As of the Closing Date, the Initial Exchange Shares will not be registered under any federal or state securities laws.
The Company fails to deliver the Initial Exchange Shares within three (3) Trading Days after receiving a notice of exchange as provided in Section 3 below.
In the event the Company has complied with this Section by using a Form S-3 and becomes ineligible to use such Form, it shall use its best efforts to substitute therefor, as soon as practicable, a Form S-1 covering the Initial Exchange Shares.
The Holder shall provide written notice to the Company, which shall be obligated to exchange this Note for such Initial Exchange Shares within three (3) Trading Days after the receipt of the notice.
For purposes of calculating the number of Initial Exchange Shares to be received by each Stockholder, the numbers shall be rounded to the nearest whole share as required to avoid issuance of fractional shares.
The parties intend to exchange the Initial Exchange Shares for Company Stock pursuant to one (1) Exchange Closing transaction.
PublicCo shall notify the Escrow Agent in writing of the occurrence of an Initial Exchange Shares Delivery Date applicable to each Buyer and shall deliver a copy of such notice to such Buyer.
Subject to the conditions set forth in the following sentence and Section 5.6 of the Purchase Agreement, the Holder shall, at any time prior to the Maturity Date, exchange this Note for the number of Initial Exchange Shares equal to the quotient obtained by dividing (x) the outstanding principal balance of this Note plus all accrued and unpaid interest thereon by (y) the Conversion Price.
As soon as practicable following delivery of the Initial Exchange Shares to the Holder in accordance with Section 1(a)(i) (but not later than three days thereafter), the Holder shall deliver to the Company the original Debenture, provided that the failure by the Holder to return the Debenture will not affect the cancellation of the Debenture, which cancellation shall occur simultaneously with the execution of this Agreement by the parties hereto.