Warrant B definition
Examples of Warrant B in a sentence
If any of (A) the Warrant, (B) the executed Notice of Exercise, or (C) the Exercise Price therefor, and all applicable taxes and charges due in connection therewith, is received by the Company after 5:00 P.M., New York City time, on any date, or on a date that is not a Business Day, the Warrant with respect thereto will be deemed to have been received and exercised on the Business Day next succeeding such date.
Upon issuance of the Note to the Holder, the Company shall also issue two (2) warrants ("Warrants") to the Holder, which Warrants shall be designated "Warrant A" and "Warrant B" and shall be in substantially the forms set forth in Exhibits B and C hereto.
So long as there is no Event of Default under this Agreement, the Note or any other transaction document, the Buyer shall not, without the Company’s written consent, exercise Warrant B.
The Holder has the right to conduct a cashless exercise of any part of the Warrant, whereby at exercise the Company will deliver to the Holder a number of shares ("X") equal to the number of warrants exercised ("Y") times the closing price of the Common Stock on the date of exercise ("A) minus the then effective strike price of the Warrant ("B") divided by the closing price of the Common Stock on the date of exercise ("A"), as represented by the following formula: X = (Y(A-B))/A.
The Company has all requisite corporate power and authority to: (A) execute and deliver this Warrant; (B) to issue the Shares hereunder; (C) to issue the shares of the Common Stock of the Company issuable upon conversion of the Shares; and (D) to carry out and perform its obligations under the terms of this Warrant.