Mandatory Exercise. In the event the share price of the Company’s Common Stock closes at or above the Exercise Price for 20 consecutive trading days, then the Company shall have the option to require exercise of the Common Stock Warrant within 10 business days in accordance with Section 1 (a) of this Agreement. If the Warrants have not been exercised within ten (10) business days after receiving written notice from the Company that it is exercising its right to require exercise of the Warrants, the Warrants shall be cancelled.
Appears in 3 contracts
Sources: Security Agreement (Basanite, Inc.), Security Agreement (Basanite, Inc.), Security Agreement (Basanite, Inc.)