Termination of Rights as Shareholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company shall take such action as is appropriate to redeem or receive the surrender and cancel such forfeited Shares, which may include by way of the compulsory redemption and cancellation of such Shares for nil consideration. In addition, the Subscriber hereby irrevocably agrees to the surrender of the forfeited shares in such circumstances and grants the Company a limited power of attorney for the purpose of effectuating the foregoing and agrees to take any and all action reasonably requested by the Company necessary to effect any adjustment in this Section 3 (including any such redemption as is referred to herein above).
Appears in 6 contracts
Samples: Assignment, Amendment and Novation Agreement (Giant Oak Acquisition Corp), Expectation Acquisition Corp, Expectation Acquisition Corp
