Common use of Redemption Restrictions Clause in Contracts

Redemption Restrictions. Notwithstanding any provision of this Agreement to the contrary, if any redemption of Preferred Shares, the Warrants, Underlying Shares or the Warrant Shares otherwise required under this Agreement, the Preferred Share, the Warrant, or the Registration Rights Agreement would be prohibited in the absence of consent from any lender of the Company or any of the Subsidiaries, or by the holders of any class of securities of the Company, the Company shall use its best efforts to obtain such consent as promptly as practicable after the redemption is required. Interest payable by the Company with respect to any such redemption shall continue to accrue in accordance with Section 4.20 until such consent is obtained. Nothing contained in this Section 4.22 shall be construed as a waiver by any of the Purchasers of any rights it may have by virtue of any breach of any representation or warranty of the Company herein as to the absence of any requirement to obtain any such consent.

Appears in 3 contracts

Samples: Preferred Stock Purchase Agreement (Return Assured Inc), Preferred Stock Purchase Agreement (Hertz Technology Group Inc), Preferred Stock Purchase Agreement (Hertz Technology Group Inc)

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Redemption Restrictions. Notwithstanding any provision of this Agreement to the contrary, if any redemption of Preferred SharesDebentures, the Warrants, Underlying Shares or the Warrant Shares otherwise required under this Agreement, the Preferred ShareDebenture, the Warrant, or the Registration Rights Agreement would be prohibited in the absence of consent from any lender of the Company or any of the Subsidiaries, or by the holders of any class of securities of the Company, the Company shall use its best efforts to obtain such consent as promptly as practicable after the redemption is required. Interest payable by the Company with respect to any such redemption shall continue to accrue in accordance with Section 4.20 until such consent is obtained. Nothing contained in this Section 4.22 shall be construed as a waiver by any of the Purchasers of any rights it may have by virtue of any breach of any representation or warranty of the Company herein as to the absence of any requirement to obtain any such consent.

Appears in 3 contracts

Samples: Convertible Debenture Purchase Agreement (Surgilight Inc), Convertible Debenture Purchase Agreement (Surgilight Inc), Convertible Debenture Purchase Agreement (Invu Inc)

Redemption Restrictions. Notwithstanding any provision of this Agreement to the contrary, if any redemption of Preferred Sharesthe Debentures, the WarrantsWarrant, Underlying Shares or the Warrant Shares otherwise required under this Agreement, the Preferred ShareDebentures, the Warrant, or the Registration Rights Agreement would be prohibited in the absence of consent from any lender of to the Company or any of the Subsidiaries, or by the holders of any class of securities of the Company, the Company shall use its best efforts to obtain such consent as promptly as practicable after the any such redemption is required. Interest payable by the Company with respect to any such redemption shall continue to accrue in accordance with Section 4.20 4.19 until such consent is 176 obtained. Nothing contained in this Section 4.22 4.21 shall be construed as a waiver by any of the Purchasers Purchaser of any rights it they may have by virtue of any breach of any representation or warranty of the Company herein as to the absence of any requirement to obtain any such consent.

Appears in 1 contract

Samples: Escrow Agreement (Scores Holding Co Inc)

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Redemption Restrictions. Notwithstanding any provision of this Agreement to the contrary, if any redemption of Preferred SharesDebentures, the Warrants, Underlying Shares or the Warrant Shares otherwise required under this Agreement, the Preferred Share, the Warrant, Agreement or the Registration Rights Agreement would be prohibited in the absence of consent from any lender of the Company or any of the Subsidiaries, or by the holders of any class of securities of the Company, the Company shall use its best efforts to obtain such consent as promptly as practicable after the redemption is required. Interest payable by the Company with respect to any such redemption shall continue to accrue in accordance with Section 4.20 until such consent is obtained. Nothing contained in this Section 4.22 shall be construed as a waiver by any of the Purchasers of any rights it may have by virtue of any breach of any representation or warranty of the Company herein as to the absence of any requirement to obtain any such consent.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (International Fuel Technology Inc)

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