Cancellation of Target Warrants Sample Clauses

Cancellation of Target Warrants. Promptly upon execution of this Agreement, the Target shall notify in writing all holders of all outstanding warrants to purchase shares of common stock of the Target (“Warrants”) of the pending Merger and shall give each such holder an opportunity to exercise such Warrants in accordance with their terms prior to the Effective Time. All Warrants that are not exercised prior to the Effective Time shall be cancelled and cease to exist, and no consideration will be delivered in exchange therefor.

Cancellation of Target Warrants. Target shall use its commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to cause all warrants to purchase shares of Target Capital Stock to be exercised or canceled prior to the Closing Date. Target shall keep Acquiror informed on a timely basis and in reasonable detail of the status of its efforts to cause such warrants to be exercised or canceled. Target shall give Acquiror prompt notice if it becomes aware of any event or circumstance that makes it reasonably unlikely that such warrants will be exercised or canceled prior to the Closing Date.

Cancellation of Target Warrants. No Target Warrants, whether vested or unvested, shall be assumed by Acquiror in the Merger. Target shall use commercially reasonable efforts to obtain, prior to the Closing Date, a binding written agreement, acceptable to Acquiror, from each holder of Target Warrants, if any, whereby such holder agrees that if the Target Warrants held by such holder have not been exercised prior to the Closing Date, then such Target Warrants shall terminate upon and may not be exercised on or after the Closing Date.

Cancellation of Target Warrants. Target shall use its commercially reasonable efforts to cause to be cancelled any warrants that are outstanding and unexercised on the Closing Date and that do no terminate in accordance with their terms upon the Effective Time.

Cancellation of Target Warrants. At the Effective Time, each outstanding Target Warrant shall be cancelled and extinguished. Prior to the Effective Time, Target shall take all action necessary to effect the transactions anticipated by this Section 1.6(d) under all Target Warrant agreements; provided that any payments or grant of consideration by Target in connection with the foregoing (including any agreements or other promises) shall require the prior written consent of Acquiror.