Common use of Winding Up of the Issuer Clause in Contracts

Winding Up of the Issuer. If, prior to the end of the Warrant Period, an order is made or an effective resolution is passed for winding up the Issuer, each Warrantholder who pays the Exercise Price, will (at its election, in lieu of payments which would otherwise have been due to it in respect of its Warrant Shares) be treated as if, immediately before the date of such order or resolution, all the Warrants had been exercised in full and shall be entitled to receive out of the assets which would otherwise be available in the liquidation such sum (if any) as it would have received had it been the holder of the Shares to which it would have become entitled by virtue of such exercise. For the purposes of this clause 8.1, the Warrantholders will be regarded as creditors within the meaning of section 23b of Book 2 of the Netherlands Civil Code.