Warrant check definition
Warrant check means a combination of warrant and check. It is a negotiable instrument which orders a depository bank to pay to the order of the payee therein named. A warrant check authorizes the bank upon which drawn to charge the municipality's account with the amount stated therein.
Examples of Warrant check in a sentence
Common Stock issuable upon exercise of the Warrant and delivery of: ● $_________ (in cash as provided for in the foregoing Warrant); and ● __________ shares of Common Stock (pursuant to a Cashless Exercise in accordance with Section 2(a)(iii)(2) of the Warrant) (check here if the undersigned desires to deliver an unspecified number of shares equal the number sufficient to effect a Cashless Exercise [___] in accordance with Section 2(a)(iii)(2)).
The undersigned hereby elects to purchase _______ shares of Common Stock of ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Co. (the “Company”) pursuant to the terms of the attached Warrant [check one]: [ ] Cash Exercise.