Common use of Escrow of Property Clause in Contracts

Escrow of Property. If after any property becomes distributable pursuant to this Section 4 by reason of the taking of any record of the holders of Common Stock, but prior to the occurrence of the event for which such record is taken, and the Holder exercises this Warrant, such property shall be held in escrow for the Holder by the Issuer to be distributed to the Holder upon and to the extent that the event actually takes place, upon payment of the then current Warrant Price. Notwithstanding any other provision to the contrary herein, if the event for which such record was taken fails to occur or is rescinded, then such escrowed property shall be returned to the Issuer.

Appears in 34 contracts

Samples: Warrant Agreement (Nac Global Technologies, Inc.), Warrant Agreement (Implant Sciences Corp), Warrant Agreement (Navidea Biopharmaceuticals, Inc.)

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Escrow of Property. If after any property becomes distributable pursuant to this Section 4 3.6 by reason of the taking of any record of the holders of Common Stock, but prior to the occurrence of the event for which such record is taken, and the Holder exercises converts this WarrantNote, such property shall be held in escrow for the Holder by the Issuer Evergreen to be distributed to the Holder upon and to the extent that the event actually takes place, upon payment of the then current Warrant Set Price. Notwithstanding any other provision to the contrary herein, if the event for which such record was taken fails to occur or is rescinded, then such escrowed property shall be returned to the IssuerEvergreen.

Appears in 1 contract

Samples: Note Purchase Agreement (Evergreen Energy Inc)

Escrow of Property. If after any property property, becomes distributable pursuant to this Section 4 by reason of the taking of any record of the holders of Common Stock, but prior to the occurrence of the event for which such record is taken, and the Holder exercises this Warrant, such property shall be held in escrow for the Holder by the Issuer to be distributed to the Holder upon and to the extent that the event actually takes place, upon payment of the then current Warrant Price. Notwithstanding any other provision to the contrary herein, if the event for which such record was taken fails to occur or is rescinded, then such escrowed property shall be returned to the Issuer.

Appears in 1 contract

Samples: Warrant Agreement (Commerce Energy Group, Inc.)

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Escrow of Property. If after any property becomes distributable pursuant to this Section Article 4 by reason of the taking of any record of the holders of Common Stock, but prior to the occurrence of the event for which such record is taken, and the Holder exercises this Warrant, such property shall be held in escrow for the Holder by the Issuer to be distributed to the Holder upon and to the extent that the event actually takes place, upon payment of the then current Warrant Price. Notwithstanding any other provision to the contrary herein, if the event for which such record was taken fails to occur or is rescinded, then such escrowed property shall be returned to the Issuer.

Appears in 1 contract

Samples: Warrant Agreement (VistaGen Therapeutics, Inc.)

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