Examples of Trigger Date in a sentence
If at any time this Warrant is outstanding and the Company receives notice from the Nasdaq Listing Qualifications Department that the Company is failing to satisfy the $1.00 minimum bid requirement (the “Trigger Date”), then the Company shall take all necessary steps to obtain the necessary consents and approvals to undertake a reverse stock split after such Trigger Date and shall, prior to the effectiveness of any delisting notice issued by the Nasdaq Capital Market, effect such reverse stock split.
From and after the Conversion Trigger Date, the General Partner, on behalf of the Operating Partnership, shall have the right to cause each Limited Partner holding Class ER Common Units, without any action on the part of the Limited Partner, to convert any or all of such Limited Partner’s Class ER Common Units into an equal number of Class I Common Units, on a 1:1 basis.
In addition, on the Trigger Date, the Exercise Price shall be reduced, and only reduced, to the lesser of (i) the then Exercise Price and (ii) 90% of the lowest VWAP for the five (5) Trading Day period immediately prior to the Trigger Date (the “Reset Exercise Price”), which shall thereafter be the new Exercise Price, subject to further adjustment hereunder, and such five (5) Trading Day period shall be referred to herein as a “Reset Measurement Period”.