Common use of Termination of Rights as Shareholder Clause in Contracts

Termination of Rights as Shareholder. If any of the Founder Shares are forfeited by the Subscriber 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 Founder Shares, and the Company shall take such action as is appropriate to cancel such Founder Shares which may include by way of the surrender and cancellation of such Founder Shares for nil consideration. In addition, the Subscriber hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing and agrees to take any and all actions reasonably requested by the Company necessary to effect any adjustment in this Section 3 (including any such surrender as is referred to herein above).

Termination of Rights as Shareholder. If any of the Founder Shares are forfeited by the Subscriber in accordance with this Section 3, then then, after such time, the Subscriber (or successor in interest), ) shall no longer have any rights as a holder of such Founder Shares, Shares and the Company shall take such action as is appropriate to cancel such Founder Shares which actions may include by way of the surrender and and/or cancellation of such Founder Shares for nil consideration. In addition, the Subscriber hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing and agrees to take any and all actions reasonably requested by the Company necessary to effect any adjustment in this Section 3 (including any such surrender as is referred to herein above).