Examples of Second Pricing Period in a sentence
Within five (5) Business Days of the end of the Second Pricing Period for each Put, the Company shall issue and deliver to the Investor a warrant ("Purchase Warrant"), in the form attached hereto as EXHIBIT D, or such other form as agreed upon by the parties, to purchase a number of shares of Common Stock equal to 10% of the number of Put Shares issued to Investor in that Put.
With respect to each Put, the Put Share Price for a number of Put Shares equal to the First Put Limit for that Put shall be determined based upon the First Pricing Period (the "First Pricing Period Put Share Price"), and the Put Share Price for a number of Put Shares equal to the Second Put Limit for that Put shall be determined based upon the Second Pricing Period (the "Second Pricing Period Put Share Price").
To the extent the Corporation elects or is required to satisfy all or part of such redemption price in shares of Common Stock, the number of such shares to be issued on such Automatic Redemption Date shall be the number determined by dividing (x) the dollar amount of the redemption price being satisfied in shares of Common Stock, by (y) 95% of the average of daily VWAPs during the Second Pricing Period.
If such cash payment, or any cash payment due following the Second Pricing Period, is not paid in full within three (3) Trading Days following such Automatic Redemption Date or Second Pricing Period, as the case may be, then at any holder's option the Corporation shall redeem all outstanding Preferred Shares held by such holder for cash at the Premium Redemption Price (as defined in the Registration Rights Agreement).
During each of (i) the First Pricing Period and (ii) the Second Pricing Period, the Company shall not, and shall cause each of its Subsidiaries, officers, directors and its and each of their respective agents, not to, directly or indirectly, purchase any shares of Common Stock.
During the term of this Agreement, VEL shall purchase a minimum US Dollar ($) amount of Products during each Pricing Period as follows: First Pricing Period: $ 1,500,000 Second Pricing Period $ 2,000,000 Third Pricing Period $ 2,000,000 SCO shall notify VEL of purchasing shortfalls, if any, prior to the end of any Pricing Period and give VEL ninety (90) days to fulfill purchasing obligations.
Such shares shall be issued and delivered within three (3) Trading Days following the end of such Second Pricing Period and shall be duly authorized, validly issued, fully paid, non-assessable and free and clear of all encumbrances, restrictions and legends.
Within five (5) Business Days of the end of the Second Pricing Period for each Put, the Company shall issue and deliver to the Investor a warrant ("Purchase Warrant"), in the form attached hereto as Exhibit D, or such other form as agreed upon by the parties, to purchase a number of shares of Common Stock equal to 15% of the Put Share Amount for that Put.
Subject to such delivery and the satisfaction of the conditions set forth in Sections 2.3.4 and 2.3.5, the closing of the purchase by the Investor of Put Shares shall occur by 5:00 PM, New York City Time, on the date which is five (5) Business Days following the last day of the Second Pricing Period for the applicable Put (the "Payment Due Date") at the offices of Investor.
On the Effective Date, Chequemate shall issue to CHR additional Penalty Shares for the period from the Initial Penalty Share Date through the Effective Date (the "Second Penalty Period"), based on the average Closing Bid Price for the five (5) consecutive Business Days ending five (5) days prior to the Effective Date (hereinafter the "Second Pricing Period") (the "Second Penalty Share Price"), calculated as follows: Total Penalties During Second Penalty Period Divided by Second Penalty Share Price.