Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 1 or otherwise, to the extent that at the time the Notice of Exercise is delivered to the Company, by the Holder, the Company does not have a sufficient number of authorized shares of Common Stock held in treasury to deliver the shares of Common Stock issuable upon the exercise of this Warrant.
Appears in 4 contracts
Sources: Common Stock Purchase Warrant (Jayhawk Energy, Inc.), Common Stock Purchase Warrant (Jayhawk Energy, Inc.), Warrant Purchase Agreement (Jayhawk Energy, Inc.)