Assignment of Company’s Preemptive Rights Sample Clauses
Assignment of Company’s Preemptive Rights. Subject to Section 1.4 below, pursuant to the right of first refusal set forth in the Company’s bylaws, as the same may be amended and/or restated from time to time (the “Company’s Bylaws”) or stock purchase agreement, as and if applicable, the Company has a right of first refusal with respect to certain proposed transfers of the Company’s outstanding securities by the Key Holders. In the event the Company elects not to exercise its right of first refusal pursuant to the Company’s Bylaws, by contract or otherwise with respect to a proposed transfer of the Company’s outstanding securities, the Company shall assign such right of first refusal to each Super Major Investor. In the event of such assignment, each Super Major Investor shall have a right to purchase that portion of the securities proposed to be transferred equal to the ratio of (a) the number of shares of the Company’s Common Stock issued or issuable upon conversion of the Shares owned by such Super Major Investor, to (b) the number of shares of the Company’s Common Stock issued or issuable upon conversion of the Shares owned by all Super Major Investors.