Common use of When Exercise Deemed Effected Clause in Contracts

When Exercise Deemed Effected. Subject to Sections 1.1, 5.2(c), 8 and 9.2, the exercise of the Warrant with respect to any Holder Sale Transaction shall be deemed to have been effected immediately prior to the consummation of such Holder Sale Transaction and only to the extent of the Warrant Shares being sold pursuant to such Holder Sale Transaction, subject to surrender of the Warrant to the Company with a duly executed Subscription Notice accompanied by payment of the Exercise Price as provided in Section 1.2, 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 1.4 shall be deemed to have become the holder or holders of record thereof.