New Entity. In addition to the other provisions herein, the Company and the Holder acknowledge and agree that, in connection with preparations for a Trigger Event, it is expected that the Company may create a new corporation in the United States, which is expected to be in the State of Delaware (“Newco”), to undertake the Trigger Event, and in which event the Company is expected to be acquired by, or merge with, Newco or a subsidiary of Newco, such that Newco will be the entity that completes the Trigger Event (the “Restructuring”).
Appears in 3 contracts
Samples: Security Agreement (HeartCore Enterprises, Inc.), Security Agreement (HeartCore Enterprises, Inc.), Security Agreement (HeartCore Enterprises, Inc.)
New Entity. In addition to the other provisions herein, the Company and the Holder acknowledge and agree that, in connection with preparations for a Trigger Event, it is expected that the Company may create a new corporation in the United States, which is expected to be in the State of Delaware (“Newco”), to undertake the Trigger Event, and in which event the Company is expected to be acquired by, or merge with, Newco or a subsidiary of Newco, such that Newco will be the entity that completes the Trigger Event (the “Restructuring”).
Appears in 2 contracts
Samples: Security Agreement (HeartCore Enterprises, Inc.), Security Agreement (HeartCore Enterprises, Inc.)
