Penalty Shares definition

Penalty Shares has the meaning set forth in Section 7.3(a) of this Agreement.

Penalty Shares means all shares of Common Stock issued to Investor pursuant to Section 4.

Penalty Shares has the meaning ascribed thereto in the opening paragraphs of this Agreement;

Examples of Penalty Shares in a sentence

• Unless the context otherwise requires, all references herein to the “Offering”, “Units”, “Underlying Shares”, “Underlying Warrants” and “Warrant Shares” shall include any Penalty Shares and Penalty Warrants that may be issued in connection with the Penalty Provision.

• Unless the context otherwise requires, all references herein to the “Offering”, “Units”, “Unit Shares”, “Warrants” and “Warrant Shares” shall include any Penalty Shares, Penalty Warrants and Penalty Warrants Shares that may be issued in connection with the Penalty Provision.

• Except as otherwise expressly provided in this Agreement, the covenants, representations, warranties and other provisions of this Agreement (other than the conditions in Section 7.1 and Section 7.2) will not merge on Closing but will survive (i) the execution, delivery and performance of this Agreement and any related transfer or conveyance documents, (ii) the Closing, (iii) the issuance of the First Tranche Shares, and (iv) if applicable, the issuance of the Second Tranche Shares or Penalty Shares.

• To the extent that Portex is required to issue Common Shares to satisfy the Second Instalment or Penalty Shares, as applicable, in excess of 7,700,000 Common Shares (or such other amount as determined by the TSXV), it shall, in lieu of issuing that number of excess Common Shares, satisfy such obligation by payment of the NSR Value Amount in accordance with Article III.

• This Prospectus also qualifies the distribution of up to 3,784,932 Penalty Shares and up to 3,784,932 Penalty Warrants issuable pursuant to the Penalty Provision, if applicable, for an aggregate of up to 41,634,257 Underlying Shares and up to 41,634,257 Underlying Warrants.

More Definitions of Penalty Shares

Penalty Shares means 100,000 shares of registered Common Stock issuable to the Holder in accordance with the terms herein.

Penalty Shares is defined in Section 6.

Penalty Shares means a number of shares of Common Stock equal to the product of (x) 932,772 multiplied by (y) the quotient of (i) the lesser of 90 and the number of days after the Effectiveness Date on which the initial Registration Statement provided for in Section 2(a) was not effective under the 1933 Act divided by (y) 90.

Penalty Shares means, shares of registered Common Stock issuable to the Purchasers in the event that the Notes are not repaid in accordance with their terms.

Penalty Shares shall have the meaning set forth in Article 3.

Penalty Shares means the additional fractional Underlying Shares issuable upon the due and proper exercise of the Special Warrants in the event the Liquidity Date is not met by the Liquidity Deadline, pursuant to the Penalty Provision;

Penalty Shares. SHALL have the meaning set forth in Section 2(b).