Sale Merger or Consolidation of the Company. For the purpose of this Warrant, "Acquisition" means any sale, license, or other disposition of all or substantially all of the assets of the Company, or any reorganization, consolidation, or merger of the Company. Upon the closing of any Acquisition the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The Purchase Price shall be adjusted accordingly.
Appears in 2 contracts
Samples: Security Agreement (Environmental Service Professionals, Inc.), Security Agreement (Environmental Service Professionals, Inc.)
Sale Merger or Consolidation of the Company. For the purpose of this Warrant, "βAcquisition" β means any sale, license, or other disposition of all or substantially all of the assets of the Company, or any reorganization, consolidation, or merger of the Company. Upon the closing of any Acquisition the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The Purchase Price shall be adjusted accordingly.
Appears in 2 contracts
Samples: Security Agreement (InterMetro Communications, Inc.), Warrant (InterMetro Communications, Inc.)
