Automatic Conversion upon Expiration. In the event that, upon the Expiration Date, the Fair Market Value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Exercise Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be converted pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised or converted, and upon notice to the Company by Holder, the Company shall promptly deliver a certificate representing the Shares (or such other securities) issued upon such conversion to the Holder.
Appears in 2 contracts
Sources: Warrant Agreement (Satcon Technology Corp), Warrant Agreement (Satcon Technology Corp)