Amendment to the Warrants Sample Clauses
The "Amendment to the Warrants" clause defines the process and conditions under which the terms of existing warrants can be modified. Typically, this clause outlines who must consent to changes, such as the warrant holders or the issuing company, and may specify the types of amendments permitted, like adjustments to exercise price or expiration date. Its core function is to provide a clear, agreed-upon mechanism for altering warrant terms, ensuring that all parties understand how changes can be made and reducing the risk of disputes over unauthorized modifications.
Amendment to the Warrants. The Issuer and Holders hereby agree that on the date hereof, each of the Warrants is hereby amended and restated so that Section 3 of each Warrant shall read as follows:
Amendment to the Warrants. In connection with the transactions contemplated by this Agreement, the Company shall reset the exercise price of the outstanding Warrants to the greater of $0.16 per share or the VWAP on the Closing Date. For purposes herein, “VWAP” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted for trading as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)); (b) if the OTC Bulletin Board is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the OTC Bulletin Board; (c) if the Common Stock is not then quoted for trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the “Pink Sheets” published by Pink Sheets, LLC (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported; or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Company.
Amendment to the Warrants a. The first paragraph of each of the Warrants is hereby amended by adding the following sentence immediately after the first sentence: “On or after January 1, 2025, the Holder is entitled, subject to the terms and conditions of this Warrant, to purchase from the Company, at a price per share equal to the Warrant Price, up to an additional 0.5x the number of shares of Warrant Stock set forth in the immediately preceding sentence (rounded down to the nearest whole share).” By way of example, a Warrant that is exercisable for up to 100 shares of Warrant Stock (as defined in each Warrant) prior to January 1, 2025 pursuant to the terms and conditions thereof shall, on or after January 1, 2025, be exercisable for an aggregate of 150 shares of Warrant Stock pursuant to the terms and conditions thereof.
Amendment to the Warrants. (a) Warrants issued by the Company to the Investors in connection with the Additional Notes;
a. shall have exercise price of %0.36 and Section 1(b) in the Warrant shall be amended to read “For purposes of this Warrant, “Exercise Price” means $0.36, subject to adjustment as provided herein.
b. shall have an exercise term of five years.
Amendment to the Warrants. Effective as of the date of this Amendment:
(1) The Warrant Price (as defined in the warrants set forth on Exhibit A hereto (collectively, the "Warrants")) shall be amended so that the Warrant Price contained therein shall be equal to $2.00 per share, subject to further adjustments after the date hereof pursuant to Section 4 of the Warrants.
(2) The number of Warrant Shares (as defined in the Warrants) subject to the Warrants shall be amended, to the extent required, to equal the amount specified by each Purchaser's name under the heading "As Adjusted" on Exhibit A hereto.
(3) The last paragraph of Section 4(f)(i) of the Warrants shall be amended and restated in its entirety to read as follows: "Notwithstanding the foregoing, there shall be no adjustment to the Warrant Price or the number of shares of Common Stock obtainable upon the exercise of this Warrant with respect to the issuance or the granting of options to directors, officers or employees of the Company or the exercise thereof pursuant to stock option plans or agreements approved by the Board of Directors of the Company, but only to the extent that the aggregate number of shares of Common Stock covered by such option plans and agreements do not exceed 15,000,000 shares in the aggregate (subject to adjustment to reflect any stock split, stock dividend, reclassification, recapitalization or other transaction having a similar effect)." Promptly following the surrender of the original Warrants for cancellation, CSI shall deliver to each Purchaser one or more amended and restated Warrants reflecting the foregoing amendments. The Parties agree that the number of Warrant Shares subject to the Warrants under the heading "As Adjusted" on Exhibit A hereto shall not be subject to any future additional anti-dilution adjustments under Section 4(f) of the Warrants.
Amendment to the Warrants. A. The number of Warrant Shares shall be equal to two shares of common stock per one dollar ($1.00). Accordingly, any references within the Transaction Documents to Warrant Shares shall also be amended so that such references shall be equal to two shares of common stock per one dollar ($1.00).
B. Investors with existing Warrants shall receive an additional warrant for the additional shares of common stock.
Amendment to the Warrants. The term “Exercise Price” as defined Paragraph 1(b) of the Warrants is hereby amended to state “$5.00, subject to adjustment as provided herein”. For purposes of clarity, the Exercise Price in the immediately preceding sentence was determined after giving effect to the 1:50 reverse stock split that occurred on or around April 14, 2015. The parties acknowledge and agree that the holding period for Rule 144 purposes for the Warrants commenced on the date of original issuance thereof notwithstanding the amendment to the Exercise Price contemplated hereby.
Amendment to the Warrants. The definition of “Exercise Price” in each of the Warrants is hereby amended and restated to read as follows: Exercise Price: $6.99 per share, as the same may be from time to time adjusted pursuant to Article 2 hereof at any time following November 19, 2018 (the “Exercise Price”).
Amendment to the Warrants. Subject to the terms and conditions herein, the Company and the Holders hereby agree to amend and to restate in their entirety the Warrants as set forth in Exhibit A attached hereto (such amended and restated Warrants, the “A&R Warrants”). The Company shall promptly deliver to the Holders their respective A&R Warrant which includes the amendment set forth herein, in each case in exchange for the destruction of and cancellation of the Holders’ original Warrants.