Effect of Transaction. Upon the occurrence of any of the following events, if the notice required by Section 7(b) hereof shall have first been given, the option granted hereunder shall automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Company: (i) the merger, consolidation or liquidation of the Company or the acquisition of its assets or stock pursuant to a nontaxable reorganization, unless the surviving or acquiring corporation, as the case may be, shall assume all outstanding options of the Company or substitute new options for them pursuant to Section 425(a) of the Code; (ii) the dissolution or liquidation of the Company; (iii) the appointment of a receiver for all or substantially all of the Company's assets or business; (iv) the appointment of a trustee for the Company after a petition has been filed for the Company's reorganization under applicable statutes; or (v) the sale, lease or exchange of all or substantially all of the Company's assets and business.
Appears in 25 contracts
Samples: Stock Option Agreement (Augme Technologies, Inc.), Stock Option Agreement (Augme Technologies, Inc.), Stock Option Agreement (Augme Technologies, Inc.)
Effect of Transaction. Upon the occurrence of any of the following events, if the notice required by Section 7(b) hereof shall have first been given, the option granted hereunder shall automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Company: (i) the merger, consolidation or liquidation of the Company or the acquisition of its assets or stock pursuant to a nontaxable reorganization, unless the surviving or acquiring corporation, as the case may be, shall assume all outstanding options of the Company or substitute new options for them pursuant to Section 425(a) of the Code; (ii) the dissolution or liquidation of the Company; (iii) the appointment of a receiver for all or substantially all of the Company's ’s assets or business; (iv) the appointment of a trustee for the Company after a petition has been filed for the Company's ’s reorganization under applicable statutes; or (v) the sale, lease or exchange of all or substantially substantially all of the Company's ’s assets and business.
Appears in 8 contracts
Samples: Stock Option Agreement (I2 Telecom International Inc), Stock Option Agreement (I2 Telecom International Inc), Stock Option Agreement (I2 Telecom International Inc)
Effect of Transaction. Upon the occurrence of any of the following events, if the notice required by Section 7(b) hereof shall have first been given, the option granted hereunder shall automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Company: (i) the merger, consolidation or liquidation of the Company or the acquisition of its assets or stock pursuant to a nontaxable reorganization, unless the surviving or acquiring corporation, as the case may be, shall assume all outstanding options of the Company or substitute new options for them pursuant to Section 425(a) of the Code; (ii) the dissolution or liquidation of the Company; (iii) the appointment of a receiver for all or substantially all of the Company's assets or business; (iv) the appointment of a trustee for the Company after a petition has been filed for the Company's reorganization under applicable statutes; or (v) the sale, lease or exchange of all or substantially substantially all of the Company's assets and business.
Appears in 6 contracts
Samples: Stock Option Agreement (I2 Telecom International Inc), Stock Option Agreement (Aim Group Inc), Agreement (Hanger Orthopedic Group Inc)
Effect of Transaction. Upon the occurrence of any of the following events, if the notice required by Section 7(b8(b) hereof shall have first been given, the option granted warrant issued hereunder shall automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Company: (i) the merger, consolidation or liquidation of the Company or the acquisition of its assets or stock pursuant to a nontaxable reorganization, unless the surviving or acquiring corporation, as the case may be, shall assume all outstanding options warrants of the Company or substitute new options warrants for them pursuant to Section 425(a) of the Code; (ii) the dissolution or liquidation of the Company; (iii) the appointment of a receiver for all or substantially all of the Company's assets or business; (iv) the appointment of a trustee for the Company after a petition has been filed for the Company's reorganization under applicable statutes; or (v) the sale, lease or exchange of all or substantially substantially all of the Company's assets and business.
Appears in 3 contracts
Samples: Warrant Agreement (Verso Technologies Inc), Warrant Agreement (Verso Technologies Inc), Warrant Agreement (Verso Technologies Inc)
Effect of Transaction. Upon the occurrence of any of the following events, if the notice required by Section 7(b5(b) hereof shall have first been given, the option granted hereunder shall automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Company: (i) the merger, consolidation or liquidation of the Company or the acquisition of its assets or stock pursuant to a nontaxable reorganization, unless the surviving or acquiring corporation, as the case may be, shall assume all outstanding options of the Company or substitute new options for them pursuant to Section 425(a) of the Code; (ii) the dissolution or liquidation of the Company; (iii) the appointment of a receiver for all or substantially all of the Company's assets or business; (iv) the appointment of a trustee for the Company after a petition has been filed for the Company's reorganization under applicable statutes; or (v) the sale, lease or exchange of all or substantially substantially all of the Company's assets and business.
Appears in 3 contracts
Samples: Agreement (Hanger Orthopedic Group Inc), Qualified Stock Option Agreement (Hanger Orthopedic Group Inc), Agreement (Jay Alix & Associates Inc)
Effect of Transaction. Upon the occurrence of any of the following events, if the notice required by Section 7(b7(ii) hereof shall have first been given, the option granted hereunder shall automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Company: (ia) the merger, consolidation or liquidation of the Company or the acquisition of its assets or stock pursuant to a nontaxable reorganization, unless the surviving or acquiring corporation, as the case may be, shall assume all outstanding options of the Company or substitute new options for them pursuant to Section 425(a) of the Code; (iib) the dissolution or liquidation of the Company; (iiic) the appointment of a receiver for all or substantially all of the Company's ’s assets or business; (ivd) the appointment of a trustee for the Company after a petition has been filed for the Company's ’s reorganization under applicable statutes; or (ve) the sale, lease or exchange of all or substantially substantially all of the Company's ’s assets and business.
Appears in 2 contracts
Samples: Separation and Release Agreement (Ideal Power Inc.), Separation and Release Agreement (Ideal Power Inc.)
Effect of Transaction. Upon the occurrence of any of the following events, if the notice required by Section 7(b9(b) hereof shall have first been given, the option granted hereunder shall automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Company: (i) the merger, consolidation or liquidation of the Company or the acquisition of its assets or stock pursuant to a nontaxable reorganization, unless the surviving or acquiring corporation, as the case may be, shall assume all outstanding options of the Company or substitute new options for them pursuant to Section 425(a) of the Code; (ii) the dissolution or liquidation of the Company; (iii) the appointment of a receiver for all or substantially all of the Company's assets or business; (iv) the appointment of a trustee for the Company after a petition has been filed for the Company's reorganization under applicable statutes; or (v) the sale, lease or exchange of all or substantially substantially all of the Company's assets and business.
Appears in 1 contract
Samples: Stock Option Agreement (Hanger Orthopedic Group Inc)
Effect of Transaction. Upon the occurrence of any of the following events, if the notice required by Section 7(b8(b) hereof shall have first been given, the option granted warrant issued hereunder shall automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Company: (i) the merger, consolidation or liquidation of the Company or the acquisition of its assets or stock pursuant to a nontaxable reorganization, unless the surviving or acquiring corporation, as the case may be, shall assume all outstanding options warrants of the Company or substitute new options warrants for them pursuant to Section 425(a) of the Code; (ii) the dissolution or liquidation of the Company; (iii) the appointment of a receiver for all or substantially all of the Company's ’s assets or business; (iv) the appointment of a trustee for the Company after a petition has been filed for the Company's ’s reorganization under applicable statutes; or (v) the sale, lease or exchange of all or substantially substantially all of the Company's ’s assets and business.
Appears in 1 contract
Effect of Transaction. Upon the occurrence of any of the following events, if the notice required by Section 7(b8(b) hereof shall have first been given, the option granted warrant issued hereunder shall automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Company: (i) the merger, consolidation or liquidation of the Company or the acquisition of its assets or stock pursuant to a nontaxable reorganization, unless the surviving or acquiring corporation, as the case may be, shall assume all outstanding options warrants of the Company or substitute new options warrants for them pursuant to Section 425(a) of the Code; (ii) the dissolution or liquidation of the Company; (iii) the appointment of a receiver for all or substantially all of the Company's assets or business; , (iv) the appointment of a trustee for the Company after a petition has been filed for the Company's reorganization under applicable statutes; or (v) the sale, lease or exchange of all or substantially substantially all of the Company's assets and business.
Appears in 1 contract