Termination of Rights as Stockholder; Escrow. If such Shares are forfeited in accordance with this Section 7, then after such time, the Subscriber (or successor in interest) shall no longer have any rights as a holder of such Shares, and the Company shall take such action as is appropriate to cancel such Shares. To effectuate the foregoing, all certificates representing the Shares shall be held in escrow as provided in Section 5 hereof. In addition, the Subscriber hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing.
Appears in 7 contracts
Samples: Subscription Agreement (Medallion Financial Corp), Subscription Agreement (Sports Properties Acquisition Corp.), Subscription Agreement (Sports Properties Acquisition Corp.)
Termination of Rights as Stockholder; Escrow. If such Shares Warrants are forfeited in accordance with this Section 7, then after such time, the Subscriber (or successor in interest) shall no longer have any rights as a holder of such SharesWarrants, and the Company shall take such action as is appropriate to cancel such SharesWarrants. To effectuate the foregoing, all certificates representing the Shares Warrants shall be held in escrow as provided in Section 5 hereof. In addition, the Subscriber hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing.
Appears in 4 contracts
Samples: Warrant Subscription Agreement, Subscription Agreement (Sports Properties Acquisition Corp.), Subscription Agreement (Sports Properties Acquisition Corp.)
Termination of Rights as Stockholder; Escrow. If such Shares the Securities are forfeited in accordance with this Section 7, then after such time, time the Subscriber (or successor in interest) ), shall no longer have any rights as a holder of such SharesSecurities, and the Company shall take such action as is appropriate to cancel such SharesSecurities. To effectuate the foregoing, all certificates representing the Shares Securities shall be held in escrow as provided in Section 5 hereof. In addition, the Subscriber hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing.
Appears in 1 contract
Samples: Subscription Agreement (Vantage Energy Services, Inc.)
Termination of Rights as Stockholder; Escrow. If such Shares the Units and the underlying securities are forfeited in accordance with this Section 78, then after such time, time the Subscriber Subscribers (or successor in interest) ), shall no longer have any rights as a holder of such SharesUnits, and the Company shall take such action as is appropriate to cancel such SharesSecurities. To effectuate the foregoing, all certificates representing the Shares Securities shall be held in escrow as provided in Section 5 hereof. In addition, the Subscriber Subscribers hereby irrevocably grants grant the Company a limited power of attorney for the purpose of effectuating the foregoing.
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Termination of Rights as Stockholder; Escrow. If such Shares the Units and the underlying securities are forfeited in accordance with this Section 78, then after such time, time the Subscriber (or successor in interest) ), shall no longer have any rights as a holder of such SharesUnits, and the Company shall take such action as is appropriate to cancel such SharesSecurities. To effectuate the foregoing, all certificates representing the Shares Securities shall be held in escrow as provided in Section 5 hereof. In addition, the Subscriber hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing.
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