Penalty Warrants definition

Penalty Warrants has the meaning ascribed thereto in Section 2.12;

Penalty Warrants means those warrants described in paragraph 3(c) of this Agreement.

Penalty Warrants means warrants having the same provisions as the Warrants and entitling the holders thereof to purchase a number of shares of Common Stock equal to the product of (x) 1,844,020 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.

Examples of Penalty Warrants in a sentence

• At the applicable time, and in any event, no later than two business days after the Penalty Warrants and the Penalty Units becoming issuable, the Corporation shall provide the Special Warrant Agent with a written direction for the issuance of the Penalty Warrants and the Penalty Units.

• 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.

• Each 10 Penalty Warrants automatically convert into one common share with no further consideration if the Company has not completed a Liquidity Event within 180 days from the date issued.

• 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.

• 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 Warrants

Penalty Warrants has the meaning set forth in SECTION 9.11 below.

Penalty Warrants means warrants to purchase shares of Common Stock issuable to the Purchasers in the event that the Notes are not repaid in accordance with their terms.

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

Penalty Warrants has the meaning ascribed thereto on the face page of this Agreement;

Penalty Warrants has the meaning given to it on page 2 of this Agreement; (jj) “Person” includes any individual (whether acting as an executor, trustee administrator, legal representative or otherwise), corporation, firm, partnership, sole proprietorship, syndicate, joint venture, trustee, trust, unincorporated organization or association, and pronouns have a similar extended meaning;

Penalty Warrants has the meaning set forth in Section 12(a)(ii).

Penalty Warrants has the meaning set forth in Section 21.