Common use of Withdrawal Right Clause in Contracts

Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) the Transaction Documents, whenever the Buyer exercises a right, election, demand or option under a Transaction Document and the Company or any Subsidiary does not timely perform its related obligations within the periods therein provided, then the Buyer may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company or such Subsidiary (as the case may be), any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights; provided, however, that in the case of a rescission of an exercise of the Warrants, the Buyer shall be required to return any Warrant Shares delivered to the Buyer in respect of such exercise promptly upon the return to the Buyer of the aggregate exercise price paid to the Company for such Warrant Shares and the restoration of the Buyer’s right to acquire such Warrant Shares pursuant to such Warrants (including, issuance of a replacement warrant certificate evidencing such restored right), respectively.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Kiora Pharmaceuticals Inc), Securities Purchase Agreement (Westwater Resources, Inc.)

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Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) the Transaction Documents, whenever the Buyer exercises a right, election, demand or option under a Transaction Document and the Company or any Subsidiary does not timely perform its related obligations within the periods therein provided, then the Buyer may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company or such Subsidiary (as the case may be), any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights; provided, however, that in the case of a rescission of an exercise of the WarrantsWarrant, the Buyer shall be required to return any Warrant Shares delivered Shares, respectively, subject to the Buyer in respect of any such rescinded exercise promptly upon notice concurrently with the return to the Buyer of the aggregate exercise price paid to the Company for such Warrant Shares and the restoration of the Buyer’s right to acquire such Warrant Shares pursuant to such Warrants Warrant (including, issuance of a replacement warrant certificate evidencing such restored right), respectively.

Appears in 1 contract

Samples: Securities Purchase Agreement (Aridis Pharmaceuticals, Inc.)

Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) the Transaction Documents, whenever the a Buyer exercises a right, election, demand or option under a Transaction Document and the Company or any Subsidiary does not timely perform its related obligations within the periods therein provided, then the such Buyer may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company or such Subsidiary (as the case may be), any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights; provided, however, that in the case of a rescission of an exercise of the WarrantsWarrant, the such Buyer shall be required to return any Warrant Shares delivered Shares, respectively, subject to the Buyer in respect of any such rescinded exercise promptly upon notice concurrently with the return to the such Buyer of the aggregate exercise price paid to the Company for such Warrant Shares Shares, as applicable, and the restoration of the such Buyer’s right to acquire such Warrant Shares pursuant to such Warrants Warrant (including, issuance of a replacement warrant certificate evidencing such restored right), respectively.

Appears in 1 contract

Samples: Securities Purchase Agreement (VistaGen Therapeutics, Inc.)

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Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) the Transaction Documents, whenever the Buyer exercises a right, election, demand or option under a Transaction Document and the Company or any Subsidiary does not timely perform its related obligations within the periods therein provided, then the Buyer may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company or such Subsidiary (as the case may be), any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights; provided, however, that in the case of a rescission of an exercise of the WarrantsSeries M Warrant, the Buyer shall be required to return any Series M Warrant Shares delivered Shares, respectively, subject to the Buyer in respect of any such rescinded exercise promptly upon notice concurrently with the return to the Buyer of the aggregate exercise price paid to the Company for such Series M Warrant Shares and the restoration of the Buyer’s right to acquire such Series M Warrant Shares pursuant to such Warrants Series M Warrant (including, issuance of a replacement warrant certificate evidencing such restored right), respectively.

Appears in 1 contract

Samples: Securities Purchase Agreement (Cardiff Oncology, Inc.)

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