Examples of Unvested Warrants in a sentence
On the Effective Date, the Debtor shall establish the Grantor Trust pursuant to the Grantor Trust Agreement for the purpose of holding the New PPNs, the New PPN Warrants and the New PPN SARs and the Debtor will cause the Grantor Trust to issue and deliver the Grantor Trust Certificates, the New Unvested Warrants and the New SARs to the Debtor.
The portion of the Unvested Warrants to be cancelled upon each repurchase, conversion or sale completed during the three year period following the Closing shall equal the product of the number of Unvested Warrants held by the Series B Holder in question on the date of such repurchase, conversion or sale (calculated by reference to the number of Warrant Shares underlying the Unvested Warrants) multiplied by the Warrant Cancellation Percentage.
Unvested Warrants shall also be forfeited if the agent’s status as an appointed sales agent of the Company is terminated for any reason.
Unvested Warrants shall automatically and without further notice and without any compensation to the Participant be annulled.
Any Warrants vested at a given time are designated "Vested Warrants"; whereas unvested Warrants are designated "Unvested Warrants".
In the event that shares of Series B Preferred Stock are repurchased pursuant to Section 4 of this Agreement (either directly or through a Designated Purchaser), converted into Common Stock or sold by Purchaser prior to the three year anniversary of the Closing, a portion of the Unvested Warrants outstanding at the time of such repurchase, conversion or sale shall automatically be cancelled and of no further force and effect.
After the Effective Time, each Warrantholder shall only be entitled to the payments described in this Section 2.6. For the avoidance of doubt, all Out-of-Money Warrants and Unvested Warrants shall be cancelled and shall not have any right to receive any consideration in respect thereof.
A U.S. Holder’s initial tax basis in the New Unvested Warrants or New SARs received in exchange for the Unvested Warrants or Existing SARs pursuant to the Plan as described above should equal the fair market value of the New Unvested Warrants or New SARs received in exchange for the Unvested Warrants or Existing SARs, respectively, pursuant to the Plan as described above.
In any case, the New PPN Warrants, New PPN SARs, the New SARs, and the Unvested Warrants will not be publicly traded.
In general, aU.S. Holder’s adjusted tax basis in its Unvested Warrants or Existing SARs will equal the U.S. Holder’s initial cost of such Unvested Warrants or Existing SARs. Such gain or loss generally will be capital gain or loss and will be long-term capital gain or loss if the U.S. Holder has held such Unvested Warrants or Existing SARs for more than one year at the time of exchange.