Termination of Rights as holder; Escrow. If the Placement Warrants are forfeited in accordance with this Section 7, then after such time the Purchaser (or successor in interest), shall no longer have any rights as a holder of such Placement Warrants, and the Company shall take such action as is appropriate to cancel such Placement Warrants. To effectuate the foregoing, all certificates representing Placement Warrants shall be held in escrow as provided in Section 2 hereof. In addition, Purchaser hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing.
Appears in 3 contracts
Samples: Warrant Purchase Agreement (Hambrecht Asia Acquisition Corp.), Warrant Purchase Agreement (ASM Acquisition CO LTD), Warrant Purchase Agreement (Hambrecht Asia Acquisition Corp.)
Termination of Rights as holder; Escrow. If the Private Placement Warrants are forfeited in accordance with this Section 7, then after such time the Purchaser (or successor in interest), shall no longer have any rights as a holder of such Private Placement Warrants, and the Company shall take such action as is appropriate to cancel such Private Placement Warrants. To effectuate the foregoing, all certificates representing Private Placement Warrants shall be held in escrow as provided in Section 2 hereof. In addition, Purchaser hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing.
Appears in 1 contract
Samples: Warrant Purchase Agreement (Chardan 2008 China Acquisition Corp.)
