Termination of Rights as Stockholder. If the Securities are forfeited in accordance with this Section 4, then after such time the Purchaser (or successor in interest and their transferees), shall no longer have any rights as a holder of such Securities, and the Company shall take such action as is appropriate to cancel such Securities. In addition, the Purchaser hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing.
Appears in 3 contracts
Samples: Unit Purchase Agreement (Regian Acquisition Corp.), Unit Purchase Agreement (Regian Acquisition Corp.), Unit Purchase Agreement (Regian Acquisition Corp.)
Termination of Rights as Stockholder. If any of the Securities Shares are forfeited in accordance with this Section 45, then after such time the Purchaser Buyer (or successor in interest and their transfereesinterest), shall no longer have any rights as a holder of such SecuritiesShares, and the Company shall take such action as is appropriate to cancel such SecuritiesShares. In addition, the Purchaser Buyer hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoingforegoing and agrees to take any and all action reasonably requested by the Company necessary to effect any adjustment in this Section 5.
Appears in 3 contracts
Samples: Securities Purchase Agreement (L&L Acquisition Corp.), Securities Purchase Agreement (L&L Acquisition Corp.), Securities Purchase Agreement (L&L Acquisition Corp.)
Termination of Rights as Stockholder. If the Securities Shares are forfeited in accordance with this Section 4, then after such time the Purchaser Subscriber (or successor in interest and their transfereesinterest), shall no longer have any rights as a holder of such SecuritiesShares, and the Company shall take such action as is appropriate to cancel such SecuritiesShares. In addition, the Purchaser Subscriber hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing.
Appears in 1 contract
Samples: Securities Subscription Agreement (Wattles Acquisition Corp)
Termination of Rights as Stockholder. If the Securities such Shares are forfeited in accordance with this Section 47, then after such time time, the Purchaser (or successor in interest and their transferees), interest) shall no longer have any rights as a holder of such SecuritiesShares, and the Company shall take such action as is appropriate to cancel such SecuritiesShares. To effectuate the foregoing, all certificates representing the Shares shall be locked up as provided in Section 5 hereof. In addition, the Purchaser hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing.
Appears in 1 contract
Samples: Stock Purchase Agreement (National Security Solutions Inc.)
