NEW SECTION. A new Section 35 shall be added to the Rights agreement which shall read in its entirety: Notwithstanding anything herein to the contrary, immediately prior to the Acceptance Time (as defined in the Merger Agreement), this Agreement shall terminate and shall have no further force and effect and the Rights shall expire and become null and void, without any payment, liability or obligation on the part of the Company, the Rights Agent or the holders of any Rights to any holder. The Company shall give the Rights Agent prior written notice of the Acceptance Time and shall remain obligated to pay the Rights Agent and to indemnify the Rights Agent in accordance with Section 18 of the Rights Agreement.
Appears in 2 contracts
Sources: Rights Agreement (Adolor Corp), Rights Agreement (Adolor Corp)