Common use of Existing Note Clause in Contracts

Existing Note. Effective as of the Closing Date, the Existing Note shall be deemed automatically canceled and of no further force or effect and shall thereafter represent only the right to receive the New Note.

Appears in 2 contracts

Sources: Exchange Agreement (Avant Diagnostics, Inc), Exchange Agreement (Avant Diagnostics, Inc)

Existing Note. Effective as of the Closing Date, the Existing Note shall be deemed automatically canceled and of no further force or effect and shall thereafter represent only the right to receive the New NoteSecurities.

Appears in 1 contract

Sources: Exchange Agreement (Avant Diagnostics, Inc)