Common use of A General Clause in Contracts

A General. This Class B Warrant is exercisable in full, or in part, at the option of the Holder of record at any time or from time, to time, up to the Expiration Date for all of the shares of Common Stock (but not for a fraction of a share) which may be purchased hereunder. In the case of the exercise of less than all of the Class B Warrants represented hereby, the Company shall cancel this Class B Warrant Certificate upon the surrender hereof and shall execute and deliver a new Class B Warrant Certificate or Class B Warrant Certificates of like tenor for the balance of such Class B Warrants. The Company agrees that the shares of Common Stock purchased under this Class B Warrant shall be and are deemed to be issued to the Holder hereof as the record owner of such shares as of the close of business on the date on which the exercise notice (attached hereto as Schedule A or B) is delivered to the Company via facsimile; provided, however, that in such case this Class B Warrant shall be surrendered to the Company within three (3) business days. Certificates for the shares of Common Stock so purchased, together with any other securities or property to which the Holder is entitled upon such exercise, shall be delivered to the Holder by the Company at the Company's expense within a reasonable time after the rights represented by this Class B Warrant have been so exercised, and in any event, within three business days of such exercise and delivery of the Exercise Price. The Company shall, no later than the close of business on the first business day following the date on which the Company receives the exercise notice by facsimile transmission issue and deliver to the Company's Transfer Agent irrevocable instructions to issue and deliver or cause to be delivered to such Holder the number of Warrant Shares exercised within two business days thereafter by either express mail or hand delivery. Each Common Stock certificate so delivered shall be in such denominations of 10,000 or more shares of Common Stock, in increments of 10,000, as may be requested by the Holder hereof and shall be registered on the Company's books in the name designated by such ▇▇▇▇▇▇, provided that no Holder of this Class B Warrant shall be permitted to exercise any warrants to the extent that such exercise would cause any Holder to be the beneficial owner of more than 4.999% of the then outstanding Company's Common Stock, at that given time (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules thereunder This limitation shall not be deemed to prevent any Holder from acquiring more than an aggregate of 4.999% of the Common Stock, so long as such Holder does not beneficially own, or have the right to beneficially more than 4.999% of the Company's Common Stock at any given time. The limitations contained herein shall cease to apply upon sixty-one (61) days' prior written notice from the Holder to the Company.

Appears in 1 contract

Sources: Warrant Agreement (SunGame Corp)

A General. This Class B C Warrant is exercisable in full, or in part, at the option of the Holder of record at any time or from time, to time, up to the Expiration Date for all of the shares of Common Stock (but not for a fraction of a share) which may be purchased hereunder. In the case of the exercise of less than all of the Class B C Warrants represented hereby, the Company shall cancel this Class B C Warrant Certificate upon the surrender hereof and shall execute and deliver a new Class B Warrant Certificate or Class B C Warrant Certificates of like tenor for the balance of such Class B C Warrants. The Company agrees that the shares of Common Stock purchased under this Class B C Warrant shall be and are deemed to be issued to the Holder hereof as the record owner of such shares as of the close of business on the date on which the exercise notice (attached hereto as Schedule A or B) is delivered to the Company via facsimile; provided, however, that in such case this Class B C Warrant shall be surrendered to the Company within three (3) business days. Certificates for the shares of Common Stock so purchased, together with any other securities or property to which the Holder is entitled upon such exercise, shall be delivered to the Holder by the Company at the Company's expense within a reasonable time after the rights represented by this Class B Warrant have been so exercised, and in any event, within three business days of such exercise and delivery of the Exercise Price. The Company shall, no later than the close of business on the first business day following the date on which the Company receives the exercise notice by facsimile transmission issue and deliver to the Company's Transfer Agent irrevocable instructions to issue and deliver or cause to be delivered to such Holder the number of Warrant Shares exercised within two business days thereafter by either express mail or hand delivery. Each Common Stock certificate so delivered shall be in such denominations of 10,000 or more shares of Common Stock, in increments of 10,000, as may be requested by the Holder hereof and shall be registered on the Company's books in the name designated by such ▇▇▇▇▇▇, provided that no Holder of this Class B C Warrant shall be permitted to exercise any warrants to the extent that such exercise would cause any Holder to be the beneficial owner of more than 4.999% of the then outstanding Company's Common Stock, at that given time (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules thereunder This limitation shall not be deemed to prevent any Holder from acquiring more than an aggregate of 4.999% of the Common Stock, so long as such Holder does not beneficially own, or have the right to beneficially more than 4.999% of the Company's Common Stock at any given time. The limitations contained herein shall cease to apply upon sixty-one (61) days' prior written notice from the Holder to the Company.

Appears in 1 contract

Sources: Warrant Agreement (SunGame Corp)