Effectiveness of Exercise. This Warrant shall be deemed to have been exercised and such Warrant Shares shall be deemed to have been issued and delivered, and the Holder or any other person so designated to be named shall be deemed to have become a holder of record of such shares for all purposes immediately prior to the close of business on the Business Day on which (i) the Company shall have received a duly executed Form of Subscription and (ii) the Company shall have received payment of the Exercise Price in respect of the Warrant Shares being purchased (including payment in the form of a “cashless exercise” in accordance with Section 2(b)).
Appears in 3 contracts
Sources: Warrant Agreement (NMI Holdings, Inc.), Warrant Agreement (NMI Holdings, Inc.), Warrant Agreement (NMI Holdings, Inc.)