Examples of Mandatory Exercise Event in a sentence
Upon the occurrence of a Mandatory Exercise Event, the Company will deliver to Holder written notice thereof (a “Mandatory Exercise Notice”) within ten (10) Trading Days of the Mandatory Exercise Event stating the number of the Warrant Shares to be issued pursuant to such Mandatory Exercise and the applicable Aggregate Exercise Price.
The Maximum Percentage limitation contained in this Section 1(e) shall not apply to a Mandatory Exercise Event pursuant to Section 1(d) or in connection with the exercise of the Holder’s rights pursuant to a Fundamental Transaction set forth in Section 4(b).
The Company may effect this Mandatory Exercise under Section 2(c)(i) by delivering a written notice thereof by electronic mail to the Holder (the “Mandatory Exercise Notice”) within five (5) Business Days following the Trading Day on which the Mandatory Exercise Event occurred (the “Mandatory Exercise Notice Date”).
At the Company’s election, the Company shall have the right to require the Holder to exercise all or any portion of this Warrant still unexercised (a “Mandatory Exercise”) into fully paid, validly issued and nonassessable Warrant ADSs or Warrant Shares [or Pre-Funded Warrants] in accordance with Section 2(d) hereof, at the Exercise Price in effect upon achievement of the Mandatory Exercise Event.
The Mandatory Exercise Notice shall include (i) the aggregate number of Warrant ADSs/Warrant Shares subject to such Mandatory Exercise (the “Mandatory Exercise Amount”) and (ii), to the satisfaction of the Holder, reasonable documentation to evidence that the Mandatory Exercise Event was achieved.