Common use of Existing Call Option Clause in Contracts

Existing Call Option. The unexercised portion of the Existing Call Option immediately prior to the Acquisition Effective Time shall, automatically and without any required action on the part of the Call Option Holder (as defined in the Merger Agreement), be assumed by PubCo and converted into the PubCo Call Option (as defined in the Merger Agreement) under the PubCo Call Option Agreement (as defined in the Merger Agreement) and thereafter the Existing Call Option will be of no effect and cease to exist and the rights and obligations of the Call Option Holder shall be solely with respect to the PubCo Call Option as set forth in the PubCo Call Option Agreement;

Existing Call Option. The unexercised portion of the Existing Call Option immediately prior to the Acquisition Effective Time shall, automatically and without any required action on the part of the Call Option Holder (as defined in the Merger Agreement)Holder, be assumed by PubCo and converted into the PubCo Call Option (as defined in the Merger Agreement) under the PubCo Call Option Agreement (as defined in the Merger Agreement) and thereafter the Existing Call Option will be of no effect and cease to exist and the rights and obligations of the Call Option Holder shall be solely with respect to the PubCo Call Option as set forth in the PubCo Call Option Agreement;.