Common use of Company Not Surviving Following Exchange Event Clause in Contracts

Company Not Surviving Following Exchange Event. Upon an Exchange Event in which the Company does not continue as the surviving entity, each holder of a Public Right will automatically receive the one-tenth (1/10) of a share of Common Stock underlying each Right (without paying any additional consideration) upon the occurrence of an Exchange Event. Each holder of a Private Placement Right or Working Capital Right will be required to indicate his, her or its election to convert the Private Placement Rights or Working Capital Rights into the underlying shares of Common Stock as well as to return the original certificates evidencing the Private Placement Rights or Working Capital Rights, if any, to the Company.

Company Not Surviving Following Exchange Event. Upon an Exchange Event in which the Company does not continue as the surviving entity, each holder of a Public Right will automatically receive the one-tenth eighth (1/101/8) of a share of Common Stock underlying each Right (without paying any additional consideration) upon the occurrence of an Exchange Event. Each holder of a Private Placement Right or Working Capital Right will be required to indicate his, her or its election to convert the Private Placement Rights or Working Capital Rights into the underlying shares of Common Stock as well as to return the original certificates evidencing the Private Placement Rights or Working Capital Rights, if any, to the Company.