Commitment Fee Shares definition
Examples of Commitment Fee Shares in a sentence
The number of Commitment Fee Shares to be delivered on the Initial Delivery Date shall be determined by dividing by the lowest one-day VWAP during the five (5) Trading Days immediately preceding the date hereof (the “Initial Commitment Share Reference Price” and such number of Commitment Fee Shares, the “Initial Commitment Share Amount”).
In respect of the foregoing, Commitment Fee Shares shall be issued upon the expiration of the standstill period pursuant to Section 6.12 (the “Initial Delivery Date”).
The Company and the Investor acknowledge that such Commitment Fee Shares or Common Stock (as applicable) credited to the account with DTC of the Investor’s designated Broker-Dealer shall be eligible for transfer to the third-party purchasers of such Commitment Fee Shares or Common Stock or their respective Broker-Dealers as DWAC Shares.
The Company may terminate this Agreement effective upon five (5) Trading Days’ prior written notice to the Investor; provided that (i) there are no outstanding Advance Notices, the Common Stock in respect of which has yet to be issued, and (ii) the Company has paid all amounts owed to the Investor pursuant to this Agreement including, without limitation, all Commitment Fee Shares.