Warrant Cancellation Sample Clauses
The Warrant Cancellation clause defines the conditions under which a warrant, which grants the holder the right to purchase company stock, may be terminated or rendered void. Typically, this clause outlines specific events or timeframes—such as the expiration of the warrant, a merger or acquisition, or failure to exercise the warrant within a set period—that trigger cancellation. Its core practical function is to provide clear guidelines for both the issuer and the holder regarding when and how the warrant can be cancelled, thereby reducing uncertainty and managing expectations around the warrant's validity.
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Warrant Cancellation. In connection with the consummation of the Transactions, the Sponsor agrees that, upon and subject to the occurrence of the Closing, the Sponsor shall automatically forfeit and cancel, without any further action by the Sponsor or any other Person, all of the SPAC Warrants that are held by the Sponsor (the “Sponsor Warrants”).
Warrant Cancellation. The Company shall have (without violation of Section 5.2(d)) obtained the cancellation or other extinguishment (as evidenced by customary documentation) of warrants to purchase Ordinary Shares, such that no more than 8,768,979 Ordinary Shares remain subject to warrants or rights to purchase (other than Company Equity Awards under the Company Share Plans).
Warrant Cancellation. The Sponsor hereby agrees that, immediately prior to the Effective Time, but subject to consummation of the Merger, all of the Private Placement Warrants, which are owned of record by the Sponsor, shall be surrendered to SPAC for no consideration and cancelled by SPAC effective as of immediately prior to the Effective Time.
Warrant Cancellation. If the Obligations (as defined in the Security Agreement referred to in the Reaffirmation Agreement dated as of the issue date hereof among the Holder, the Company, and certain of the subsidiaries of the Company) have been repaid in full on or before (a) six (6) months from the date hereof, the Holder shall surrender this Warrant for cancellation and shall issue a new Warrant to Holder in the face amount of this Warrant less thirty percent (30%) of the shares otherwise issuable under this Warrant, (b) more than six months but fewer than nine (9) months from the date hereof, the Holder shall surrender this Warrant for cancellation and shall issue a new Warrant to Holder in the face amount of this Warrant less twenty percent (20%) of the shares otherwise issuable under this Warrant; (c) more than nine (9) months but fewer than twelve (12) months from the date hereof, the Holder shall surrender this Warrant for cancellation and shall issue a new Warrant to Holder in the face amount of this Warrant less ten percent (10%) of the shares otherwise issuable under this Warrant; and (d) more than twelve (12) months but fewer than eighteen (18) months from the date hereof, the Holder shall surrender this Warrant for cancellation and shall issue a new Warrant to Holder in the face amount of this Warrant less five percent (5%) of the shares otherwise issuable under this Warrant.
Warrant Cancellation. Contemporaneously with exchange of the Notes pursuant to Section 1.1 and without any further action on the part of the Company or the Holder, the Warrant shall be terminated and cancelled and shall no longer be exercisable and the Holder shall automatically be deemed to have released any and all rights it has or may have had in, and in respect of, the Warrant, including related contractual rights.
Warrant Cancellation. If all obligations and liabilities owing by the Company to the Holder under the Note, the Purchase Agreement and/or any other Related Agreement have been repaid in full on or before (a) six (6) months from the date hereof, the Holder shall surrender this Warrant for cancellation and shall issue a new Warrant to Holder in the face amount of this Warrant less fifty percent (50%) of the shares otherwise issuable under this Warrant, or (b) twelve (12) months from the date hereof, the Holder shall surrender this Warrant for cancellation and shall issue a new Warrant to Holder in the face amount of this Warrant less twenty-five percent (25%) of the shares otherwise issuable under this Warrant.
Warrant Cancellation. This letter agreement referred -------------------- to in Section 3.1(e) executed by the Company and First Union Corporation.
(c) On the Closing Date, Concentra shall pay, or cause to be paid, the NHR Indebtedness and all accrued and unpaid interest thereon; provided, however, that Concentra, at its option, may elect to pay or assume (i) -------- ------- any or all Capital Lease Obligations and (ii) the obligations of the Company and its Subsidiaries arising under the Hedge Agreement. On the Closing Date, Concentra shall assume the Company's obligations under the First Union Letters of Credit and shall deliver replacement letters of credit for those obligations to Milbank, Tweed, ▇▇▇▇▇▇ & ▇▇▇▇▇▇ at the Closing for subsequent delivery to The CIT Group, Inc. and Woodbridge Officer Tower LLC.
Warrant Cancellation. Effective as the date hereof, the Warrants are cancelled and retired, and all rights and obligations of the Warrantholder and the Company with respect thereto are terminated and released, and the Warrants shall hereafter no longer be exercisable.
Warrant Cancellation. Shareholder agrees that, in consideration of the payment to him of the Merger Consideration with respect to the warrants ("Warrants") owned by him to purchase 3,260 shares of common stock of ZMP, Inc., upon payment of the Merger Consideration, all Warrants will be canceled and none of Buyer, Acquisition, Surviving Corporation nor ZMP will have any further liability or obligation to the undersigned with respect to the Warrants or any agreement, understanding or commitment related thereto. Shareholder further agrees that he will not exercise his Warrants for so long as this Agreement is in effect.
Warrant Cancellation. The Company and Laurus hereby agree that i) the Company shall deliver the Closing Shares to Laurus within three business days of receipt of the approval of the American Stock Exchange to the issuance of the Closing Shares ("AMEX Approval"); and ii) upon receipt by Laurus of the Closing Shares, Laurus will promptly surrender to the Company the Warrants, as originally executed by the Company, marked cancelled (or such other indicia of cancellation reasonably satisfactory to the Company). In the event AMEX Approval has not been received within 30 days of the Effective Date, this Agreement shall be void ab initio, and the parties hereto shall return the positions held prior to the Effective Date as if this Agreement had never been executed.