Required Exercise at Maturity Sample Clauses

Required Exercise at Maturity. Subject to the limitations set forth in Article II.C(i) and provided all shares of Common Stock issuable upon exercise of all outstanding Prepaid Warrants are then (i) authorized and reserved for issuance, and (ii) registered under the Securities Act of 1933, as amended, for resale by the holders of Prepaid Warrants, each Prepaid Warrant issued and outstanding on the fifth (5th) anniversary of the Issuance Date thereof (the "MATURITY DATE"), automatically shall be exercised into shares of Common Stock on such date in accordance with the exercise formulas set forth in Article II.A (the "REQUIRED EXERCISE AT MATURITY"); provided, however, the Maturity Date shall be extended for a period equal to the number of days any Event of Default (as herein defined) or Trading Market Trigger Event (as herein defined) is in existence. If the Required Exercise at Maturity occurs, the Corporation and the holders of Prepaid Warrants shall follow the applicable exercise procedures set forth in Article II.B; provided, however, that the holders of Prepaid Warrants are not required to deliver a Notice of Exercise to the Corporation or its transfer agent.
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Required Exercise at Maturity. Subject to the limitations set forth in Paragraph C(i) of this Article II and provided all shares of Common Stock issuable upon exercise of all outstanding Prepaid Warrants are then (i) authorized and reserved for issuance, (ii) registered under the Securities Act of 1933, as amended, for resale by the holders of Prepaid Warrants and (iii) eligible to be traded on either the National Market, the New York Stock Exchange, the American Stock Exchange or the Nasdaq SmallCap Market, each Prepaid Warrant issued and outstanding on the fifth anniversary of the Issuance Date thereof (the "MATURITY DATE"), automatically shall be exercised into shares of
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Related to Required Exercise at Maturity

  • Term Automatic Cashless Exercise Upon Expiration 5.1.1 This Warrant is exercisable in whole or in part, at any time and from time to time on or before the Expiration Date set forth above; provided, however, that if the Company completes its initial public offering within the 270-day period immediately prior to the Expiration Date, the Expiration Date shall automatically be extended until 270 days after the effective date of the Company’s initial public offering. 5.1.2 In the event that, upon the Expiration Date, the fair market value (as determined pursuant to Section 1.3 above) of one Share (or other security issuable upon the exercise hereof) is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised.

  • Automatic Cashless Exercise upon Expiration In the event that, upon the Expiration Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall, within a reasonable time, deliver a certificate representing the Shares (or such other securities) issued upon such exercise to Holder.

  • Notice of Exercise; Payment (a) To the extent then exercisable, the Option may be exercised in whole or in part by written notice to the Company stating the number of Option Shares for which the Option is being exercised and the intended manner of payment. The date of such notice shall be the exercise date. Payment equal to the aggregate Option Price of the Option Shares being purchased pursuant to an exercise of the Option must be tendered in full with the notice of exercise to the Company in one or a combination of the following methods as specified by the Optionee in the notice of exercise: (i) cash in the form of currency or check or by wire transfer as directed by the Company, (ii) solely following an IPO in Shares otherwise being traded on an established securities market, through the surrender to the Company of Shares owned by the Optionee for at least six months as valued at their Fair Market Value on the date of exercise, (iii) through net exercise, using Shares to be acquired upon exercise of the Option, such Shares being valued at their Fair Market Value (which for such purpose shall have the meaning set forth in the Stockholders Agreement) on the date of exercise, or (iv) through such other form of consideration as is deemed acceptable by the Board. (b) As soon as practicable upon the Company’s receipt of the Optionee’s notice of exercise and payment, the Company shall direct the due issuance of the Option Shares so purchased. (c) As a further condition precedent to the exercise of this Option in whole or in part, the Optionee shall comply with all regulations and the requirements of any regulatory authority having control of, or supervision over, the issuance of the shares of common stock and in connection therewith shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.

  • Timing of Exercise The Warrants shall be exercisable at any time in whole or in part from time to time commencing as of February 17, 2006 and expiring at 5:00 P.M., New York time, on February 16, 2011 (the “Expiration Date”), subject to earlier termination as provided herein, and may not be exercised thereafter.

  • Form of Exercise Price The Holder intends that payment of the Exercise Price shall be made as (check one): ☐ a cash exercise with respect to Warrant Shares; or ☐ by cashless exercise pursuant to the Warrant.