Automatic Termination and Cancellation Clause Samples

Automatic Termination and Cancellation. Notwithstanding anything to the contrary in this Agreement, if a Termination Event (as defined in the Unit Agreement) occurs with respect to any principal amount of Units prior to April 1, 2024, then the Warrants forming a part of such Units in a number equal to the Unit Warrant Number (as defined in the Unit Agreement) for such principal amount of Units shall automatically terminate and become void without further legal effect and shall be cancelled for no further consideration, and all rights thereunder and all rights in respect thereof under this Agreement shall cease as of such time.