Defaulting Holder Sample Clauses

Defaulting Holder. Notwithstanding the foregoing or anything to the contrary herein in the event that any Holder or any Affiliate of a Holder, does not fund such Person’s Percentage Share of any Third Amendment Delayed Draw pursuant to the terms of the Credit Agreement, then such Holder (any such Holder, a “Defaulting Holder”) shall not be entitled to exchange their Parent Series A Preferred Shares pursuant to Section 2 hereof nor shall such Defaulting Holder receive any Intermediate Holdings Warrant or Reorganized Invacare Warrants pursuant to Section 3 and Section 4 hereof, respectively, and the rights of such Defaulting Holder set forth in this Agreement and the Master Equity Agreement shall be deemed null and void. Furthermore, in the event of a Defaulting Holder, Schedule I hereof shall automatically and without any further action on the part of the parties hereto be deemed amended so that the Intermediate Holdings Warrants and the Reorganized Invacare Warrants issuable to such Defaulting Holder shall be deleted and the percentage of Common Stock Deemed Outstanding issuable to the remaining Holders who are not Defaulting Holders (the “Remaining Holders”) with respect to the Intermediate Holdings Warrants and Reorganized Invacare Warrants shall be adjusted so that the percentage of Common Stock Deemed Outstanding shall with respect such Intermediate Holdings Warrants and Reorganized Invacare Warrants to be issued to such Remaining Holder shall be a percentage equal to (a) the amount of Parent Series A Preferred Shares held by such Remaining Holder divided by the amount of Parent Series A Preferred Shares held by all such Remaining Holders multiplied by (b) 0.49 (or such other number as consented to by the Remaining Holders who hold a majority of the Parent Series A Preferred Shares held by such Remaining Holders).