Common use of Discharge of Liability Clause in Contracts

Discharge of Liability. The inability of the Corporation to obtain approval from any regulatory body having authority deemed by the Corporation to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Corporation of any liability with respect to the non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. However, the Corporation shall use its best efforts to obtain all such applicable approvals.

Appears in 8 contracts

Samples: Stock Option Agreement (Pharmacyclics Inc), Annual Option (Gasonics International Corp), Automatic Stock Option Agreement (Gasonics International Corp)

AutoNDA by SimpleDocs

Discharge of Liability. The inability of the Corporation to obtain ---------------------- approval from any regulatory body having authority deemed by the Corporation to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Corporation of any liability with respect to the non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. However, the Corporation shall use its best efforts to obtain all such applicable approvals.

Appears in 1 contract

Samples: Microelectronic Packaging Inc /Ca/

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.