Common use of Irrevocable Acceptance Clause in Contracts

Irrevocable Acceptance. The acceptance of each Participating Buyer shall be irrevocable except as provided in this Section 2.1.2(c) and Section 2.1.4, and each such Participating Buyer shall be bound and obligated to acquire in the Issuance on the same terms and conditions, with respect to each unit of Subject Securities issued, as the Prospective Subscriber, at a cash price not in excess of the maximum price set forth in the Participation Notice and on other principal terms not substantially less favorable to the Participating Buyer than those set forth in the Participation Notice, such amount of Subject Securities as such Participating Buyer shall have specified in such Participating Buyer’s written commitment. If, prior to consummation, the terms of such proposed Issuance shall change with the result that the price shall be higher than the maximum price set forth in the Participation Notice or the other principal terms shall be substantially less favorable to the Prospective Subscriber than those set forth in the Participation Notice, the acceptance by each Participating Buyer shall be deemed to be revoked, and it shall be necessary for a separate Participation Notice to be furnished, and the terms and provisions of this Section 2.1 separately complied with, in order to consummate such Issuance pursuant to this Section 2.1; provided, however, that in such case of a separate Participation Notice, the applicable period to which reference is made in the first sentence of Section 2.1.1, in the first sentence of Section 2.1.2(a) and in the last sentence of Section 2.1.2(a) shall be three business days, two business days and one business day respectively.

Irrevocable Acceptance. (a) The acceptance of by each Participating Buyer in its Participation Acceptance shall be irrevocable except as provided in this Section 2.1.2(c4.2.3 and Sections 4.2.5 (Time Limitation) and Section 2.1.44.2.6 (Investor Rights in the Event of Certain Legal Restrictions), and each such Participating Buyer shall be bound and obligated to acquire in the Issuance on the same terms and conditions, with respect to each unit of Subject Securities issued, as was offered to the Prospective SubscriberSubscriber (if any), at a cash price not in excess of the maximum price set forth in the Participation Notice and on other principal terms not substantially materially less favorable in the aggregate to the Participating Buyer than those set forth in the Participation Notice, such amount of Subject Securities as such Participating Buyer shall have specified determined in such Participating Buyer’s written commitment. accordance with Section 4.2.4 (Determination of the Number of Subject Securities to Be Issued). (b) If, prior to consummation, the terms of such proposed Issuance shall change with the result that the price shall be higher than the maximum price or less than the minimum price set forth in the Participation Notice or the other principal terms shall be substantially materially less favorable or materially more favorable in the aggregate to the Prospective Subscriber than those set forth in the Participation Notice, the acceptance by each Participating Buyer shall be deemed to be revoked, and it shall be necessary for a separate Participation Notice to be furnished, and the terms and provisions of this Section 2.1 4.2 separately complied with, in order to consummate such Issuance pursuant to this Section 2.14.2; provided, however, that in such case of a separate Participation Notice, the applicable period to which reference is made in the first sentence of Section 2.1.1, 4.2.1 (Notice) and in the first sentence of Section 2.1.2(a) and in the last sentence of Section 2.1.2(a4.2.2 (Exercise) shall be three business days(3) Business Days and two (2) Business Days, two business days and one business day respectively.