Termination of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 5, then after such time the Buyer (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. In addition, the Buyer hereby irrevocably 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 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 any of the Shares Securities are forfeited in accordance with this Section 54, then after such time the Buyer Purchaser (or successor in interestinterest and their transferees), 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. In addition, the Buyer Purchaser hereby irrevocably 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 5foregoing.
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 such Shares are forfeited in accordance with this Section 57, then after such time time, the Buyer Purchaser (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 locked up as provided in Section 5 hereof. In addition, the Buyer Purchaser hereby irrevocably 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 5foregoing.
Appears in 1 contract
Samples: Form of Stock Purchase Agreement (National Security Solutions Inc.)
