Common use of Liability of Company Clause in Contracts

Liability of Company. (a) If the Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that may be issued under the Plan without shareholder approval, then this option shall be void with respect to such excess shares, unless shareholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of the Plan. (b) The inability of the Company to obtain approval from any regulatory body having authority the Company deems necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Company of any liability with respect to the nonissuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company shall use its best efforts to obtain all such approvals.

Appears in 4 contracts

Samples: Stock Option Agreement (xG TECHNOLOGY, INC.), Stock Option Agreement (NXT-Id, Inc.), Stock Option Agreement (NXT-Id, Inc.)

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Liability of Company. (a) A. If the Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that which may without stockholder approval be issued under the Plan without shareholder approvalPlan, then this option Option shall be void with respect to such excess shares, unless shareholder stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of the Plan. (b) B. The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company deems to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option Option shall relieve the Company of any liability with respect to the nonissuance non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company Company, however, shall use its best efforts to obtain all such approvals.

Appears in 4 contracts

Samples: Non Employee Director Stock Option Agreement (Geron Corp), Stock Option Agreement (Geron Corp), Stock Option Agreement (Geron Corp)

Liability of Company. (a) A. If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that which may without stockholder approval be issued under the Plan without shareholder approvalPlan, then this option shall be void with respect to such excess shares, shares unless shareholder stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of Section XIII of the Plan. (b) B. The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company deems to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Company of any liability with respect to the nonissuance non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company Company, however, shall use its best efforts to obtain all such approvals.

Appears in 1 contract

Samples: Stock Option Agreement (Idec Pharmaceuticals Corp / De)

Liability of Company. (a) If the Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that which may without stockholder approval be issued under the Plan without shareholder approvalPlan, then this option shall be void with respect to such excess shares, shares unless shareholder stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of the Plan. (b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company deems to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Company of any liability with respect to the nonissuance non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company Company, however, shall use its best efforts to obtain all such approvals.

Appears in 1 contract

Samples: Stock Option Agreement (Boatracs Inc /Ca/)

Liability of Company. (a) If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that which may without shareholder approval be issued under the Plan without shareholder approvalPlan, then this option shall be void with respect to such excess shares, shares unless shareholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of Section 18 of the Plan. (b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company deems to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option without the imposition of requirements unacceptable to the Company in its reasonable discretion shall relieve the Company of any liability with respect to the nonissuance non- issuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company Company, however, shall use its best efforts to obtain all such approvals.

Appears in 1 contract

Samples: Non Statutory Option Agreement (Dynamic Associates Inc)

Liability of Company. (a) If the Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that may be issued under the Plan without shareholder approval, then this option shall be void with respect to such excess shares, unless shareholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of the Plan. (b) The inability of the Company to obtain approval from any regulatory body having authority the Company deems necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Company of any liability with respect to the nonissuance non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company shall use its best efforts to obtain all such approvals.

Appears in 1 contract

Samples: Stock Option Agreement (Internap Network Services Corp/Wa)

Liability of Company. (a) If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that which may without shareholder approval be issued under the Plan without shareholder approvalPlan, then this option shall be void with respect to such excess shares, shares unless shareholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of Section 18 of the Plan. (b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company deems to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option without the imposition of requirements unacceptable to the Company in its reasonable discretion shall relieve the Company of any liability with respect to the nonissuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company Company, however, shall use its best efforts to obtain all such approvals.

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Dynamic Associates Inc)

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Liability of Company. (a) A. If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that which may without shareholder approval be issued under the Plan without shareholder approvalPlan, then this option shall be void with respect to such excess shares, shares unless shareholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of the Plan. (b) B. The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company deems to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option Agreement shall relieve the Company of any liability with respect to the nonissuance non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company Company, however, shall use its best efforts to obtain all such approvals.

Appears in 1 contract

Samples: Standard Stock Option Agreement (Biocryst Pharmaceuticals Inc)

Liability of Company. (a) If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that which may without stockholder approval be issued under the Plan without shareholder approvalPlan, then this option shall be void with respect to such excess shares, shares unless shareholder stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of Section 10 of the Plan. (b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company deems to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Company of any liability with respect to the nonissuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company Company, however, shall use its best efforts to obtain all such approvals.

Appears in 1 contract

Samples: Stock Option Agreement (Laser Power Corp/Fa)

Liability of Company. (a) If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock that which may without stockholder approval be issued under the Plan without shareholder approvalPlan, then this option shall be void with respect to such excess shares, shares unless shareholder stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the applicable provisions of Section 10 of the Plan. (b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company deems to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Company of any liability with respect to the nonissuance non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company Company, however, shall use its best efforts to obtain all such approvals.

Appears in 1 contract

Samples: Stock Option Agreement (Laser Power Corp/Fa)

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