Partial Exercise of Special Warrants; Fractions. (a) The holder of any Special Warrants may exercise its right to acquire Units in part and may thereby acquire a number of Units less than the aggregate number which the holder is entitled to acquire pursuant to the Special Warrant Certificate(s) surrendered in connection therewith; provided, however, that, in no event will fractional Underlying Shares or Underlying Warrants be issued with regard to the applicable Special Warrants exercised. In the event of any acquisition of a number of Units less than the number which the holder is entitled to acquire, the holder of the Special Warrants will, upon exercise thereof, be entitled to receive, without charge therefor, a new Special Warrant Certificate or Special Warrant Certificates or, if in uncertificated form, customer confirmation in the Book-Entry Only System representing the balance of the Units which such holder was entitled to acquire pursuant to the surrendered Special Warrant Certificate(s) and which were not then acquired. (b) Notwithstanding anything contained in this Indenture, including any adjustment provided for in Article 4, the Company will not be required, upon the exercise of any Special Warrants to issue fractional Underlying Shares or Underlying Warrants or to issue certificates which evidence a fractional Underlying Share or Underlying Warrant. Any fractional Underlying Shares or Underlying Warrants will be rounded down to the nearest whole Underlying Share or Underlying Warrant, as applicable.
Appears in 2 contracts
Sources: Special Warrant Indenture, Special Warrant Indenture
Partial Exercise of Special Warrants; Fractions. (a) The holder of any Special Warrants may exercise its right to acquire Units in part and may thereby acquire a number of Units less than the aggregate number which the holder is entitled to acquire pursuant to the Special Warrant Certificate(s) surrendered in connection therewith; provided, however, provided that, in no event will fractional Underlying Unit Shares or Underlying Warrants be issued with regard to the applicable Special Warrants exercised. In the event of any acquisition of a number of Units less than the number which the holder is entitled to acquire, the holder of the Special Warrants will, upon exercise thereof, be entitled to receive, without charge therefor, a new Special Warrant Certificate or Special Warrant Certificates or, if in uncertificated form, customer confirmation in the Book-Entry Only System representing the balance of the Units which such holder was entitled to acquire pursuant to the surrendered Special Warrant Certificate(s) and which were not then acquired.
(b) Notwithstanding anything contained in this Indenture, including any adjustment provided for in Article 4, the Company Corporation will not be required, upon the exercise of any Special Warrants to issue fractional Underlying fractions of Unit Shares or Underlying Warrants or to issue certificates which evidence a fractional Underlying Unit Share or Underlying Warrant. Any fractional Underlying Unit Shares or Underlying Warrants will be rounded down to the nearest whole Underlying Unit Share or Underlying Warrant, as applicable.
Appears in 2 contracts
Sources: Special Warrant Indenture (Niocorp Developments LTD), Special Warrant Indenture (Niocorp Developments LTD)
Partial Exercise of Special Warrants; Fractions. (a) The holder of any Special Warrants may exercise its right to acquire Units in part and may thereby acquire a number of Units Common Shares and Purchase Warrants less than the aggregate number which the holder is entitled to acquire pursuant to the Special surrendered Warrant Certificate(s) surrendered in connection therewith; provided, however, that, in no event will fractional Underlying Shares or Underlying Warrants be issued with regard to the applicable Special Warrants exercised). In the event of any acquisition exercise of a number of Units Special Warrants less than the number which the holder is entitled to acquireexercise, the holder of the Special Warrants willupon such exercise shall, upon exercise thereofin addition, be entitled to receive, without charge therefor, a new Special Warrant Certificate or Special Warrant Certificates or, if Certificate(s) in uncertificated form, customer confirmation in the Book-Entry Only System representing respect of the balance of the Units which such holder was entitled to acquire pursuant to Special Warrants represented by the surrendered Special Warrant Certificate(s) and which were not then acquiredexercised.
(b) Notwithstanding anything herein contained in this Indenture, including any adjustment provided for in Article 45, the Company will Corporation shall not be required, upon the exercise of any Special Warrants Warrants, to issue fractional Underlying fractions of Common Shares or Underlying Warrants or to issue distribute certificates which evidence fractional Common Shares. In lieu of fractional Common Shares, the Corporation shall pay to the holder who would otherwise be entitled to receive fractional Common Shares upon an exercise of Special Warrants, within ten Business Days after the date upon which the fractional Common Shares would otherwise have been deemed to have been issued pursuant to Section 3.2, an amount in lawful money of Canada equal to the Current Market Price of the Common Shares multiplied by an amount equal to the fractional interest of Common Shares such holder would otherwise be entitled to receive upon such exercise, provided that the Corporation shall not be required to make any payment, calculated as aforesaid, that is less than $5.00. The Corporation shall have no obligation or liability to any holder who would have been, absent the provisions of this Section, entitled to receive a fractional Underlying Share or Underlying Warrant. Any fractional Underlying Shares or Underlying Purchase Warrant upon the exercise of Special Warrants will be rounded down to the nearest whole Underlying Share or Underlying Warrant, as applicableheld by such holder.
Appears in 1 contract
Partial Exercise of Special Warrants; Fractions. (a) The holder of any Special Warrants may exercise its right to acquire Units in part and may thereby acquire a number of Units less than the aggregate number which the holder is entitled to acquire pursuant to the Special Warrant Certificate(s) surrendered in connection therewith; provided, however, that, in no event will fractional Underlying Unit Shares or Underlying Unit Warrants be issued with regard to the applicable Special Warrants exercised. In the event of any acquisition of a number of Units less than the number which the holder is entitled to acquire, the holder of the Special Warrants will, upon exercise thereof, be entitled to receive, without charge therefor, a new Special Warrant Certificate or Special Warrant Certificates or, if in uncertificated form, customer confirmation in the Book-Entry Only System representing the balance of the Units which such holder was entitled to acquire pursuant to the surrendered Special Warrant Certificate(s) and which were Warrants. Holders will not then acquiredreceive any compensation as a result of rounding.
(b) Notwithstanding anything contained in this Indenture, including any adjustment provided for in Article 4, the Company will not be required, upon the exercise of any Special Warrants to issue fractional Underlying Unit Shares or Underlying Unit Warrants or to issue certificates which evidence a fractional Underlying Share Unit Shares or Underlying WarrantUnit Warrants. Any fractional Underlying Unit Shares or Underlying Unit Warrants will be rounded down to the nearest whole Underlying Unit Share or Underlying Unit Warrant, as applicable.
Appears in 1 contract
Sources: Special Warrant Indenture