Common use of Efforts to Obtain Stockholder Approval Clause in Contracts

Efforts to Obtain Stockholder Approval. The Company shall use its commercially reasonable efforts to obtain any stockholder approval described in Section 2(c) of the Note in respect of the Note and the same form of approval in respect of the Warrant. The Company covenants that its proposal to stockholders in respect of approval of the Warrant issuance will be interconditional with its proposal to stockholders in respect of approval of issuance of CDIs upon conversion of the Note, such that if either proposal is not approved, then neither proposal may be approved.

Appears in 3 contracts

Samples: Note and Warrant Purchase Agreement (Gi Dynamics, Inc.), Note and Warrant Purchase Agreement (Gi Dynamics, Inc.), Note and Warrant Purchase Agreement (Gi Dynamics, Inc.)

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Efforts to Obtain Stockholder Approval. The Company shall use its commercially reasonable efforts to obtain any stockholder approval described in Section 2(c) of the Note in respect of the Note and the same form of approval in respect of the WarrantWarrant on or prior to December 31, 2019. The Company covenants that its proposal to stockholders in respect of approval of the Warrant issuance will be interconditional with its proposal to stockholders in respect of approval of issuance of CDIs upon conversion of the Note, such that if either proposal is not approved, then neither proposal may be approved.

Appears in 1 contract

Samples: Securities Purchase Agreement (Gi Dynamics, Inc.)

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