Class A Warrant Exercise Price definition
Examples of Class A Warrant Exercise Price in a sentence
The Class A Warrant Exercise Price, the number and kind of securities, but not the number of Class B Warrants, purchasable upon the exercise of each Class A Warrant shall be subject to adjustment from time to time upon the happening of the events enumerated in this paragraph 9(a).
Any adjustment of less than five cents ($.05) per share of any Class A Warrant Exercise Price or the Class B Warrant Exercise Price shall be carried forward and shall be made at the time of and together with any subsequent adjustment which, together with adjustment or adjustments so carried forward, amounts to five cents ($.05) or more per Class A Warrant or Class B Warrant, as the case may be.
The Warrant Agent shall not at any time be under any duty or responsibility to the holders of the Warrant Certificates to make or cause to be made any adjustment of the Class A Warrant Exercise Price provided in this Agreement, or to determine whether any fact exists which may require any such adjustments, or with respect to the nature or extent of any such adjustment, when made, or with respect to the method employed in making the same.
In the absence of a statement or certificate having been furnished, the Warrant Agent may conclusively rely upon the provisions of this Agreement and the Class A Warrant Certificates and Class B Warrant Certificates with respect to the Common Stock deliverable upon the exercise of the Class A Warrants and Class B Warrants and the applicable Class A Warrant Exercise Price and Class B Warrant Exercise Price.
Except as hereinafter provided, no adjustment of the Class A Warrant Exercise Price nor the Class B Warrant Exercise Price shall be made if such adjustment results in a change of the Class A Warrant Exercise Price or Class B Warrant Exercise Price then in effect of less than five cents ($.05) per Class A Warrant or Class B Warrant, as the case may be.
However, upon exercise of a Class A Warrant or Class B Warrant, the Company shall make all necessary adjustments (to the nearest cent) not theretofore made to the Class A Warrant Exercise Price and Class B Warrant Exercise Price up to and including the effective date upon which such Class A Warrant or Class B Warrant, as the case may be, is exercised.
The Class A Warrant Exercise Price initially shall be $6.00 per Class A Warrant.
The Class A Warrants shall be subject to redemption, at the Company's option, at any time commencing six (6) months from the Effective Date, until the Expiration Date provided at any time, the average Closing bid price of the Company's Common Stock equals or exceeds 175% of the Class A Warrant Exercise Price for 20 consecutive trading days ending no earlier than three days of the mailing of the notice of redemption.
The Warrant Agent shall not at any time be under any duty or responsibility to the holders of the Warrant Certificates to make or cause to be made any adjustment of the Class A Warrant Exercise Price or the Class B Warrant Exercise Price provided in this Agreement, or to determine whether any fact exists which may require any such adjustments, or with respect to the nature or extent of any such adjustment, when made, or with respect to the method employed in making the same.
Payment of such Class A Warrant Exercise Price shall be made in cash or by certified check or bank draft payable to the order of the Company, which cash, certified check or bank draft shall immediately be delivered to the Company.