Common use of When Exercise Deemed Effected Clause in Contracts

When Exercise Deemed Effected. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of Normal Business Hours on the Business Day during the Exercise Period on which this Warrant shall have been surrendered to the Company (or, if such exercise shall be in connection with an underwritten Public Offering of shares of Common Stock (or Other Securities) issuable upon the exercise of this Warrant, at such time as the holder hereof and the Company may agree to permit the holder hereof to participate in such Public Offering) as provided in section 1.1, and at such time the person or persons in whose name or names any certificate or certificates for shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in section 1.3 shall be deemed to have become the holder or holders of record thereof.