Common use of Merger Approval Clause in Contracts

Merger Approval. The Company will use its commercially reasonable efforts to obtain the consent of its shareholders to the Merger. Provided that O▇▇▇ ▇▇▇ and A▇▇▇▇ ▇▇▇▇▇▇ vote their Ordinary Shares in favor of the Merger, it shall not be a default by Company or an Event of Default as defined in the Debenture if fewer than 80% of Company’s shareholders do not approve the Merger, in which case, the Company may elect not to close the Merger and in such case the Purchasers or anyone acting on their behalf shall not have any demand, claim or right against the Company, its shareholders, officers, directors, employees, advisors and representatives as a result of the failure to obtain such approval.