Rights Termination. Immediately upon the action of the Company's Board of Directors ordering the redemption of the Rights pursuant to Section 5.2 hereof, and without any further action and without any notice, the right to exercise the Rights will terminate and the only right thereafter of the holders of Rights shall be to receive the Redemption Price. The Company shall promptly give public notice of any such redemption; provided, however, that the failure to give, or any defect in, any such notice shall not affect the validity of such redemption. Within 10 days after such action of the Board of Directors ordering the redemption of the Rights pursuant to Section 5.2 hereof, the Company shall mail a notice of redemption to all the holders of the then-outstanding Rights at their last addresses as they appear upon the registry books of the Rights Agent or, prior to the Separation Date, on the registry books of the transfer agent for the Common Shares of the Company, if different. Any notice that is mailed in the manner herein provided shall be deemed given, whether or not the holder receives the notice. Each such notice of redemption will state the method by which the payment of the Redemption Price will be made. Neither the Company nor any of its Affiliates or Associates may redeem any Rights at any time in any manner other than that specifically set forth in this Article V, and other than in connection with the purchase of Common Shares of the Company prior to the Separation Date.
Rights Termination. Upon termination of this Agreement and except as otherwise expressly provided herein, all of the rights and licenses granted to Licensees under the terms of this Agreement shall terminate. The Licensees shall assign any sublicenses granted under this Agreement to Licensor. All rights licensed or transferred by Licensor to the Licensees hereunder which are subject to termination shall revert to Licensor, and the Licensees agree to execute all instruments reasonably necessary and desirable to revest said rights in Licensor.
Rights Termination. Upon receipt by Chevron of the Ridgewood release notification, the rights and options granted Ridgewood under this Agreement as to the released Leases and Contract Acreage shall terminate. Notwithstanding anything herein to the contrary, in no event shall the notification of a release as described in this Article 9 relieve Ridgewood of any financial obligation that has been incurred or accrued pursuant to this Agreement or any Operating Agreement.
Rights Termination. Vested Rights will cease to be exercisable and will expire and terminate to the extent not exercised upon the date (the “Expiration Date”) that is the earlier of (i) the close of business on the tenth anniversary of the Grant Date and (ii) the dates set forth below in this Section 4.
Rights Termination. Upon receipt by Chevron of the Company release notification, the rights and options granted Company under this Agreement as to the released Prospect will terminate. Notwithstanding anything herein to the contrary, in no event will the notification of a release as described in this Article 9 relieve Company of any financial obligation that has been incurred or accrued pursuant to this Agreement or any Operating Agreement.
Rights Termination. 19 ARTICLE VI MISCELLANEOUS....................................................20
Rights Termination. Pursuant to Section 8 of the Product Development Agreement, Par has the right, in its discretion, to terminate its right to have the Corporation develop "New Products" under the Product Development Agreement. Such a termination by Par, which must be exercised not later than October 15, 2005, is referred to in the Product Development Agreement as the "RIGHTS CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY ITH SECURITIES AND EXCHANGE COMMISSION ASTERISKS DENOTE SUCH OMISSION TERMINATION". If Par exercises that Rights Termination under the Product Development Agreement, then effective as of the date that Par exercises the Rights Termination, all of the rights and obligations of the Corporation, Par and Holding under this Agreement shall automatically, and without any further action, be terminated, without any further liability or obligation on the part of any party. Without limiting the foregoing, this means that if Par exercises that Rights Termination under the Product Development Agreement, then effective as of the date that Par exercises that Rights Termination, (a) the Corporation shall not issue and sell, and Par shall not purchase, any Series B Shares as contemplated by Article 4 above, (b) Holding shall not sell, and Par shall not purchase, any shares of any series of capital stock of the Corporation, (c) the restrictions on the Transfer or Pledge of Shares set forth in Article 10 below shall no longer be in effect, and (d) Par shall no longer have any rights under Article 9 below.
Rights Termination. Upon termination of this Agreement and except as otherwise expressly provided herein, all of the rights and licenses granted to Licensee under the terms of this Agreement shall terminate. The Licensee shall assign any sublicenses granted under this Agreement to Licensor. All rights licensed or transferred by Licensor to the Licensee hereunder which are subject to termination shall revert to Licensor, and the Licensee agree to execute all instruments reasonably necessary and desirable to revest said rights in Licensor. Upon termination of the agreement based on Licensee’s bankruptcy or dissolution, all patent rights outlined in 10.1 herein shall revert to Licensor.
Rights Termination. If the Board of Directors elects or is deemed to have elected to redeem the Rights and, in circumstances when section 6.01 is applicable, the redemption is approved by the holders of Voting Shares of the Company or the holders of Rights in accordance with section 7.04: (a) the right to exercise the Rights will thereupon, without further action and without notice, terminate and the only right thereafter of the holder of a Right shall be to receive the Redemption Price; and (b) no further Rights shall thereafter be issued.
Rights Termination. Upon termination of this Agreement and except as otherwise expressly provided herein, all of the rights and licenses granted to Cerebain under the terms of this Agreement shall terminate. Cerebain shall assign any sublicenses granted under this Agreement to Licensor. All rights licensed or transferred by Licensor to Cerebain hereunder which are subject to termination shall revert to Licensor, and Cerebain agrees to execute all instruments reasonably necessary and desirable to revest said rights in Licensor.
