Mandatory Exercise Event definition

Mandatory Exercise Event means, following the Farudostat Trial Achievement and prior to the Warrant Exercise Deadline, the Company’s ADSs have achieved an aggregate trading volume of ADSs in excess of $200 million with an average VWAP that is at least five times the Exercise Price then in effect. “Pre-Funded Warrant Exercise Price” equals US $0.0001 per Ordinary Share or $0.0005 per ADS, subject to adjustment for reverse and forward share splits, share dividends, share combinations, ratio changes and other similar transactions of the Ordinary Shares or ADSs, as applicable, that occur after the Issue Date.

Mandatory Exercise Event shall have the meaning ascribed to it in Section 5.1.

Mandatory Exercise Event has the meaning provided in the Attached Warrants.

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).

• 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.

• Prior to the Expiration Date, upon the occurrence of a Mandatory Exercise Event (as defined below), the Company may mandatorily cause the exercise by the Holder of a number of Warrant Shares equal to the lesser of (i) fifty percent (50%) of the Warrant Shares exercisable on the Issuance Date or (ii) the outstanding Warrant Shares on the date of the Mandatory Exercise Notice (as defined herein) (the “Mandatory Exercise”).

• Within 30 days prior to (i) the Opening Trigger Date or (ii) the anticipated consummation of a Liquidity Event that is not a Mandatory Exercise Event, as applicable (each, a “Majority Exercise Event”), the Company shall provide, or cause to be provided to the Holders or the representative thereof identified to the Company in accordance with the Securityholders’ Agreement (the “Holder Representative”) notice of such Majority Exercise Event.

More Definitions of Mandatory Exercise Event

Mandatory Exercise Event has the meaning set forth in the Facility Agreement.

Mandatory Exercise Event has the meaning set forth in Section 9(a).

Mandatory Exercise Event means (i) any sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property or assets of the Company and its Subsidiaries (whether in a single transaction or in a series of related or substantially contemporaneous transactions), (ii) any merger, reorganization, consolidation or other transaction involving the Company in which the holders of the capital stock of the Company immediately prior to such transaction do not retain a majority of the voting power in the continuing entity (whether in a single transaction or in a series of related or substantially contemporaneous transactions), (iii) any Drag-Along Sale, (iv) from and after July 31, 2005, any Transfer by a Grantor to a Third Party of all Company Securities owned by such Grantor or (v) if any Grantor shall at any time from and after July 31, 2005 Transfer any Preferred Shares as a result of which such Grantor shall own an amount of Preferred Shares that is less than or equal to the amount of Optioned Shares subject to the Option granted by such Grantor.

Mandatory Exercise Event means the consummation of a Change of Control Event or a Sale, in each case which constitutes a Liquidity Event.

Mandatory Exercise Event means, following the Eblasakimab Trial Achievement and prior to the Warrant Exercise Deadline, the Company’s ADSs have achieved an aggregate trading volume of ADSs in excess of $200 million with an average VWAP that is at least five times the Exercise Price then in effect.

Mandatory Exercise Event shall have occurred if the price of the Common Stock of the Company reaches $[•]. The Company shall provide a Rule 144 opinion letter to allow the Holder to obtain free trading shares upon the cashless exercise from the Mandatory Exercise.

Mandatory Exercise Event shall have occurred on any Trading Day after June 15, 2006 that is the 20th Trading Day within the 30 consecutive Trading Day period ending on such Trading Day on which the Closing Price of a share of Common Stock is equal to or greater than the Mandatory Exercise Price.