Common use of No Obligation to Net Cash Settle Clause in Contracts

No Obligation to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Option, in no event will the Company be required to net cash settle the exercise of the Purchase Option. The holder of the Purchase Option will not be entitled to exercise the Purchase Option unless a registration or offering statement is effective or qualified, or an exemption from the registration or offering requirements is available at such time and, if the holder is not able to exercise the Purchase Option, the Purchase Option will expire worthless.

No Obligation to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Option, in no event will the Company be required to net cash settle the exercise of the Purchase Option. The holder of the Purchase Option will not be entitled to exercise the Purchase Option unless it exercises such Purchase Option pursuant to Section 2.2 above or a registration or offering statement relating to the Shares is effective or qualifiedand current, or an exemption from the registration or offering requirements is available at such time and, if the holder is not able to exercise the Purchase Option, the Purchase Option will expire worthless.