Exercise and Cancellation of Warrants Sample Clauses

The "Exercise and Cancellation of Warrants" clause defines the procedures and conditions under which a warrant holder may exercise their right to purchase underlying securities, as well as the circumstances in which the warrant may be cancelled. Typically, this clause outlines the steps required to exercise the warrant, such as providing notice and payment, and may specify time limits or events that trigger cancellation, like expiration or company actions. Its core function is to ensure both parties understand how and when warrants can be used or terminated, thereby providing clarity and reducing the risk of disputes regarding the rights attached to the warrants.
Exercise and Cancellation of Warrants. 1 (i) Stockholder hereby acknowledges and agrees that, in the event that (A) Stockholder does not exercise all of its Warrants prior to the Acceptance Time and (B) the Acceptance Time occurs, then Stockholder will not exercise any of its Warrants following the Acceptance Time and will take all actions necessary (including entering into an amendment to the terms thereof) to permit the conversion of all such Warrants into cash consideration in connection with the Merger as contemplated by Section 2(b)(ii). (ii) Stockholder hereby acknowledges and agrees that, to the extent that any of Stockholder’s Warrants remain outstanding immediately prior to the Effective Time, whether or not any such Warrant is then exercisable, (a) each such Warrant shall automatically be cancelled or terminated immediately prior to the Effective Time (but subject to the occurrence thereof) and shall cease to represent a right of the holder of such Warrant to acquire Common Stock pursuant to the exercise of such Warrant, and (b) the holder of such Warrant shall be entitled to receive, upon surrender of such holder’s Warrants to the Company, a cash payment equal to the product of (x) the excess, if any, of the Offer Price per share of Common Stock over the exercise price per Share of such Warrant and (y) the number of Shares subject to the exercisable portion of such Warrant, as the sole form of consideration in exchange for surrender of each such Warrant, without interest and subject to any applicable withholding taxes, and (c) Stockholder shall not have any right after the Effective Time under the terms of any of its Warrants to acquire any securities of the Company, Parent, Purchaser or the entity surviving the Merger (or any other capital stock or other assets of any Person). In the event the Offer Price does not exceed the exercise price per Share of any Warrant, such Warrant shall be cancelled without consideration at the Effective Time. (iii) Notwithstanding Section 13(d), in the event the Acceptance Time occurs, this Section 2(b) shall survive the Acceptance Time indefinitely.
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Exercise and Cancellation of Warrants 
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Related to Exercise and Cancellation of Warrants

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.

  • Cancellation of Warrant This Warrant shall be canceled upon the Exercise of this Warrant, and, as soon as practical after the Date of Exercise, Holder shall be entitled to receive Common Stock for the number of shares purchased upon such Exercise of this Warrant, and if this Warrant is not exercised in full, Holder shall be entitled to receive a new Warrant (containing terms identical to this Warrant) representing any unexercised portion of this Warrant in addition to such Common Stock.

  • Expiration of Warrants Immediately after the Expiry Time, all rights under any Warrant in respect of which the right of acquisition provided for herein shall not have been exercised shall cease and terminate and each Warrant shall be void and of no further force or effect.

  • Replacement of Warrants Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and (in the case of loss, theft or destruction) upon delivery of an indemnity agreement (with surety if reasonably required) in an amount reasonably satisfactory to the Company, or (in the case of mutilation) upon surrender and cancellation of this Warrant, the Company will issue, in lieu thereof, a new Warrant of like tenor.

  • Duration of Warrants Each Warrant may be exercised in whole or in part at any time, as specified herein, on or after [the date thereof] [●] and at or before [●] p.m., [City] time, on [●] or such later date as the Company may designate by notice to the Warrant Agent and the holders of Warrant Certificates mailed to their addresses as set forth in the record books of the Warrant Agent (the “Expiration Date”). Each Warrant not exercised at or before [●] p.m., [City] time, on the Expiration Date shall become void, and all rights of the holder of the Warrant Certificate evidencing such Warrant under this Agreement shall cease.