Purchase Option Clause Example with 65 Variations from Business Contracts
This page contains Purchase Option clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Acquisition Corp. ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniversary of the effective date ("Effective Date") of the Co...mpany's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) units ("Units") of the Company, each Unit consisting of one share of common stock of the Company, par value $0.0001 per share ("Common Stock"), one right ("Right(s)") entitling the Holder to receive one tenth (1/10) of a share of Common Stock upon consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is the same as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context.View More
Variations of a "Purchase Option" Clause from Business Contracts
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. __________ ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners CB Pharma Acquisition Corp. ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 [ ], 2015 [the first anniversary of the Effective Date] ("Commencement Date"), and at or before 5:00 p.m., New York City local ...time, on the five year anniversary of the effective date ("Effective Date") of the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Four Hundred Thousand (400,000) units ("Units") of the Company, each Unit consisting of one ordinary share of common stock of the Company, par value $0.0001 per share ("Common Stock"), ("Ordinary Shares"), one right ("Right(s)") entitling the Holder to receive one tenth (1/10) of a share of Common Stock an Ordinary Share upon consummation of a Business Combination, and one-half of one redeemable warrant ("Warrant(s)"), each whole warrant to purchase one share one-half (1/2) of Common Stock. an Ordinary Share. Each Right is has the same terms as the right included in the Units being registered for sale to the public by way of the Registration Statement. Statement (the "Right(s)"). Each Warrant is has the same terms as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Ordinary Shares, Rights and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), Chardan Capital Markets, LLC (the "Holder"), as registered owner of this Purchase Option, to Big Rock Partners Orisun Acquisition Corp. ("Company"), (the "Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 ("Commencement [________], 2020 (the "Commencement Date"), and at or before 5:0...0 p.m., New York City local time, on the five year anniversary of the effective date ("Effective (the "Effective Date") of the Company's registration statement ("Registration (the "Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), in the Company's initial public offering (the "Offering"), but not thereafter ("Expiration (the "Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Three Hundred Forty Five Thousand (345,000) units ("Units") of the Company, each Unit consisting of one (1) share of common stock stock, par value $0.00001 per share, of the Company, par value $0.0001 per share ("Common Stock"), Company ("Share(s)"), one right ("Right(s)") (1) warrant ("Warrant(s)"), each Warrant entitling the Holder holder thereof to purchase one-half (1/2) of one Share and one (1) right to receive one tenth one-tenth (1/10) of a share of Common Stock Share upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Combination ("Right(s)"). Each Right is has the same terms as the right rights included in the Units units being registered for sale to the public by way of the Registration Statement. Statement ("Public Rights"). Each Warrant is has the same terms as the warrant warrants included in the Units being registered for sale to the public by way of the Registration Statement ("Public (the "Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the original Holder of this Purchase Option agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Shares, Warrants and Warrants) Rights) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), (the "Holder"), as registered owner of this Purchase Option, to Big Rock Partners Acquisition HL Acquisitions Corp. ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 [●], 2019 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniversary of the e...ffective date ("Effective Date") of the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to two hundred twelve thousand five hundred thousand (500,000) (212,500) units ("Units") of the Company, each Unit consisting of one share of common stock Ordinary Share of the Company, no par value $0.0001 per share ("Common Stock"), ("Ordinary Shares"), one right ("Right(s)") entitling the Holder to receive one tenth one-tenth (1/10) of a share of Common Stock an Ordinary Share upon consummation of a Business Combination, and one-half of one redeemable warrant ("Warrant(s)"), each whole warrant Warrant exercisable to purchase one share of Common Stock. (1) Ordinary Share. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is has the same terms as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the original Holder of this Purchase Option agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Ordinary Shares, Rights and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Acquisition Corp. DT Asia Investments Limited ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 _______, 2015 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniversary ...of the effective date ("Effective Date") of the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Six Hundred Thousand (600,000) units ("Units") of the Company, each Unit consisting of one ordinary share of common stock of the Company, no par value $0.0001 per share ("Common Stock"), ("Ordinary Shares"), one right ("Right(s)") entitling the Holder to automatically receive one tenth (1/10) of a share of Common Stock an Ordinary Share upon consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share one-half (1/2) of Common Stock. an Ordinary Share. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Statement (the "Right(s)"). Each Warrant is the same as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise neither this Purchase Option or nor the Warrants underlying this Purchase Option may be exercisable after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.75 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Ordinary Shares, Rights and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. Cantor Fitzgerald & Co. ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Acquisition Corp. JM Global Holding Company ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 July 23, 2016 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the ...five year anniversary of the effective date ("Effective Date") of the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Four Hundred Thousand (400,000) units ("Units") of the Company, each Unit consisting of one share of common stock of the Company, par value $0.0001 per share ("Common Stock"), and one right ("Right(s)") entitling the Holder warrant ("Warrant(s)"), each to receive one tenth (1/10) purchase one-half (1/2) of a share of Common Stock upon consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is the same as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise neither this Purchase Option or nor the Warrants underlying this Purchase Option may be exercisable after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Stock and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $___ duly paid by or on behalf of EarlyBirdCapital, Inc. _________ ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Black Ridge Acquisition Corp. ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, ____________, 2018 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniversary of the ef...fective date ("Effective Date") of the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) ______________ (_______) units ("Units") of the Company, each Unit consisting of one share of common stock of the Company, par value $0.0001 per share ("Common Stock"), one right ("Right(s)") entitling the Holder to receive one tenth (1/10) of a share of Common Stock upon consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is the same as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise neither this Purchase Option or nor the Warrants underlying this Purchase Option may be exercisable after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), (the "Holder"), as registered owner of this Purchase Option, to Big Rock Partners CM Seven Star Acquisition Corp. Corporation ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, [l], 2018 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniversary of ...the effective date ("Effective Date") of the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five seven hundred fifty thousand (500,000) (750,000) units ("Units") of the Company, each Unit consisting of one share of common stock Ordinary Share of the Company, par value $0.0001 per share ("Common Stock"), ("Ordinary Shares"), one right ("Right(s)") entitling the Holder to receive one tenth one-tenth (1/10) of a share of Common Stock an Ordinary Share upon consummation of a Business Combination, and one-half of one a redeemable warrant ("Warrant(s)"), each whole warrant Warrant to purchase one share of Common Stock. (1) Ordinary Share. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is has the same terms as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Ordinary Shares, Rights and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $___ duly paid by or on behalf of EarlyBirdCapital, Inc. _________ ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Pensare Acquisition Corp. ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 ____________, 2017 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniversary of the e...ffective date ("Effective Date") of the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) ______________ (_______) units ("Units") of the Company, each Unit consisting of one share of common stock of the Company, par value $0.0001 $0.001 per share ("Common Stock"), one right ("Right(s)") entitling the Holder to receive one tenth (1/10) of a share of Common Stock upon consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is the same as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise neither this Purchase Option or nor the Warrants underlying this Purchase Option may be exercisable after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Stock and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Pacific Special Acquisition Corp. ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 _______, 2016 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniversary of the effec...tive date ("Effective Date") of the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Four Hundred Thousand (400,000) units ("Units") of the Company, each Unit consisting of one ordinary share of common stock of the Company, no par value $0.0001 per share ("Common Stock"), ("Ordinary Shares"), one right ("Right(s)") entitling the Holder to receive one tenth (1/10) of a share of Common Stock an Ordinary Share upon consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share one-half (1/2) of Common Stock. an Ordinary Share. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Statement (the "Right(s)"). Each Warrant is the same as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise neither this Purchase Option or nor the Warrants underlying this Purchase Option may be exercisable after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Ordinary Shares, Rights and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $___ duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), ______ (the "Holder"), as registered owner of this Purchase Option, to Big Rock Partners DILA Capital Acquisition Corp. ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 _________, 2022 ("Commencement Date"), and at or before 5:00 p.m., New York City local Eastern time, on the five ye...ar anniversary of the effective date ("Effective Date") of the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) ________ (______) units ("Units") of the Company, each Unit consisting of one share of Class A common stock of the Company, par value $0.0001 per share ("Common Stock"), and one right ("Right(s)") entitling the Holder to receive one tenth (1/10) of a share of Common Stock upon consummation of a Business Combination, and one-half of one redeemable warrant ("Warrant(s)"), each whole warrant Warrant to purchase one (1) share of Common Stock. Each Right is Warrant has the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is the same terms as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying included in this Purchase Option after the five year anniversary of the Effective Date. During the period beginning on the date hereof and ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Stock and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
