Common use of Waiver of Conditions to Investor’s Obligations Clause in Contracts

Waiver of Conditions to Investor’s Obligations. If investors that have signed Investor Agreements obligating them to purchase in total 75% of all the shares of Common Stock that investors have agreed to purchase under all the Investor Agreements that are in effect on the Closing Date (including this Agreement) waive any of the conditions in Section 5.2 of this Agreement other than Section 5.2(n) and comparable provisions of their Investor Agreements, the Investors will be deemed to have waived that condition, or those conditions, even if the Investor does not itself waive that condition or those conditions. The condition in Section 5.2(n) may only be waived by an Investor as to itself, and failure of the condition in that subsection with regard to an Investor will only affect the obligations of that Investor.

Appears in 5 contracts

Samples: Investment Agreement (Oaktree Capital Group Holdings GP, LLC), Investment Agreement (First Bancorp /Pr/), Investment Agreement (First Bancorp /Pr/)

AutoNDA by SimpleDocs

Waiver of Conditions to Investor’s Obligations. If investors that have signed Investor Agreements obligating them to purchase in total 75% of all the shares of Common Stock that investors have agreed to purchase under all the Investor Agreements that are in effect on the Closing Date (including this Agreement) waive any of the conditions in Section 5.2 of this Agreement other than Section 5.2(n5.2(m) and comparable provisions of their Investor Agreements, the Investors will be deemed to have waived that condition, or those conditions, even if the Investor does not itself waive that condition or those conditions. The condition in Section 5.2(n5.2(m) may only be waived by an Investor as to itself, and failure of the condition in that subsection with regard to an Investor will only affect the obligations of that Investor.

Appears in 2 contracts

Samples: Investment Agreement (First Bancorp /Pr/), Investment Agreement (First Bancorp /Pr/)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.