Warrant Cancellation. Contemporaneously with exchange of the Notes pursuant to Section 1.1 and without any further action on the part of the Company or the Holder, the Warrant shall be terminated and cancelled and shall no longer be exercisable and the Holder shall automatically be deemed to have released any and all rights it has or may have had in, and in respect of, the Warrant, including related contractual rights.
Appears in 2 contracts
Sources: Series a Preferred Stock Purchase Agreement (Gi Dynamics, Inc.), Note Exchange and Warrant Cancellation Agreement (Gi Dynamics, Inc.)