Contents
- Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise
- Compensation for Buy-In on Failure to Timely Deliver certificate Upon Exercise
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise
In addition to any other rights available to the Holder, if the Company fails to beget the Transfer Agent to transmit to the Holder the Warrant Shares in agreement with the vittles of Section 2( d)(i) above under an exercise on or before the Warrant Share Delivery Date, and if after the similar date the Holder is needed by its broker to buy( in an open request sale or else) or the Holder’s brokerage establishment else purchases, shares of Common Stock to deliver in satisfaction of a trade by the Holder of the Warrant Shares which the Holder anticipated entering upon similar exercise( a “ Buy- In ”), also the Company shall( A) pay in cash to the Holder the quantum, if any, by which( x) the Holder’s total purchase price( including brokerage commissions, if any) for the shares of Common Stock so bought exceeds( y) the quantum attained by multiplying
(1) the number of Warrant Shares that the Company was needed to deliver to the Holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to similar purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and original number of Warrant Shares for which similar exercise wasn’t recognized( in which case similar exercise shall be supposed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery scores hereunder. For illustration, if the Holder purchases Common Stock having a total purchase price of $ 1,000 to cover a Buy-In concerning an attempted exercise of shares of Common Stock with an aggregate trade price giving rise to a similar purchase obligation of $ 1,000, under clause (A) of the incontinently antedating judgment the Company shall be needed to pay the Holder $ 11,000. The Holder shall give the Company written notice indicating the quantities outstanding to the Holder in respect of the Buy-In and, upon request of the Company, substantiation of the quantum of similar loss. And/ or injunctive relief concerning the Company’s failure to timely deliver shares of Common Stock upon exercise of the Warrant as needed under the terms hereof.
Compensation for Buy-In on Failure to Timely Deliver certificate Upon Exercise
In addition to any other rights available to the Holder, if the Issuer fails to beget its transfer agent to transmit to the Holder an instrument or instruments representing the Warrant Stock under an exercise on or before the Delivery Date, and if after the similar date the Holder is needed by its broker to buy( in an open request sale or else) shares of Common Stock to deliver in satisfaction of a trade by the Holder of the Warrant Stock which the Holder anticipated entering upon similar exercise( a “ Buy- In ”), also, the Issuer shall
(1) pay in cash to the Holder the quantum by which( x) the Holder’s total purchase price( including brokerage commissions, if any) for the shares of Common Stock so bought exceeds( y) the quantum attained by multiplying( A) the number of shares of Warrant Stock that the Issuer was needed to deliver to the Holder in connection with the exercise at issue times(B) the price at which the sell order giving rise to similar purchase obligation was executed, and
(2) at the option of the Holder, either reinstate the portion of the Warrant and an original number of shares of Warrant Stock for which similar exercise wasn’t recognized or deliver to the Holder the number of shares of Common Stock that would have been issued had the Issuer timely complied with its exercise and delivery scores hereunder. For illustration, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In concerning an attempted exercise of shares of Common Stock with an aggregate trade price giving rise to a similar purchase obligation of $10,000, under clause (1) of the incontinently antedating judgment, the Issuer shall be needed to pay the Holder $1,000. The Holder shall give the Issuer written notice indicating the quantities outstanding to the Holder in respect of the Buy-In, together with applicable documentation and other substantiation nicely requested by the Issuer. And/ or injunctive relief concerning the Issuer’s failure to timely deliver instruments representing shares of Common Stock upon exercise of this Warrant as needed money to the terms hereof.
