Redemption Subject to Applicable Law. If the Company is not permitted by insolvency provisions or other provisions of applicable law to redeem all or any portion of the Series A Preferred Shares required to be redeemed hereunder (if not otherwise converted, as the case may be), the Company shall, pursuant to the terms of this Section 6, redeem only the maximum number of Series A Preferred Shares (as determined in good faith by the Board of Directors of the Company) it is then permitted to redeem and shall make any payment to the holder of the Series A Preferred Shares required by this Agreement.
Appears in 4 contracts
Samples: Stock Purchase Agreement (Spring Bank Pharmaceuticals, Inc.), Stock Purchase Agreement (Spring Bank Pharmaceuticals, Inc.), License Agreement (MIGENIX Inc.)
