Common use of Failure to Exercise Clause in Contracts

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights Holders, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen (14) days following the issuance of the First Participation Notice, the Company shall have 60 days thereafter to sell the New Securities described in the First Participation Notice (the portion to which the Right of Participation hereunder were not exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 3.

Failure to Exercise. Upon (i) In the event that none of the Participation Rights Holders exercise fully its Right of Participation in accordance with subsection (d)(i) above, after twenty (20) days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights Holders, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen (14) days following the issuance of the First Participation NoticePeriod, the Company shall have 60 a period of ninety (90) days thereafter to sell the New Securities described in the First Participation Notice (the portion with respect to which the Right of Participation hereunder were was not fully exercised) at the same or higher price and upon the same non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 day prescribed period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 34.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights HoldersPeriod, or or, in the event no Participation Rights Holder exercises the its Right of Participation within fourteen (14) days following in accordance with Section 5.3(a), upon the issuance expiration of the First Participation NoticePeriod, the Company shall have 60 one hundred and twenty (120) days thereafter to sell the any New Securities described in the First Participation Notice (the portion with respect to which the Right of Participation hereunder were was not exercised) to the subscribers specified in the First Participation Notice at the same or a higher price per New Security and upon other non-price terms and conditions not materially more favorable to the purchasers subscribers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 one hundred and twenty (120) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 35.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights Holders, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen twenty (1420) days Business Days following the issuance of the First Participation Notice, the Company shall have 60 days forty (40) Business Days thereafter to sell the New Securities described in the First Participation Notice (the portion to which the Right of Participation hereunder were was not exercised) at the same or higher price and upon non-price the other terms and conditions not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 day forty (40) Business Day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 3.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights HoldersPeriod, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen twenty (1420) days Business Days following the issuance of the First Participation Notice, the Company shall have 60 days ninety (90) Business Days thereafter to sell the unsubscribed portion of the New Securities described in the First Participation Notice (the portion with respect to which the Right of Participation hereunder were not exercised, the “Remaining Securities”) at the same or higher price and upon non-non price terms not materially more favorable to the purchasers thereof than specified in the First Participation NoticeNotice so long as the purchasers thereof agree to be bound by the terms of this Agreement as a shareholder of the Company hereunder. In the event that the Company has not issued and sold such New Remaining Securities within such 60 day ninety (90) Business Day period, then the Company shall not thereafter issue or sell any New Remaining Securities without again first offering such New Remaining Securities to the Participation Rights Holders pursuant to this Section 3.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights HoldersPeriod, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen Participation, after thirty (1430) days following the issuance delivery of the First Participation Notice, the Company shall have 60 ninety (90) days thereafter to sell the fifty percent (50%) of the New Securities described in the First Participation Notice (the portion with respect to which the Participation Rights Holders’ Right of Participation hereunder were was not exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 ninety (90) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering fifty percent (50%) of such New Securities to the Participation Rights Holders pursuant to this Section 34.

Failure to Exercise. Upon the expiration of the Second Participation Period and to ten (10) Business Day period from (a) the extent that not all New Securities have been subscribed for by the Participation Rights Holders, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen (14) days following the issuance date of the First Participation Notice, or (b) in the Company shall have 60 days thereafter to sell event the oversubscription procedures under Section 2.3 applies, the date of the Second Participation Notice, if there are any remaining New Securities described in the First Participation Notice available for purchase, the Company shall have sixty (the portion 60) days thereafter to sell such New Securities (with respect to which the Right of Participation and the Oversubscription Right hereunder were not exercised) at the same or higher price and upon non-price on terms not materially more favorable to the purchasers thereof than those specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 sixty (60) day period, then the Company shall not thereafter issue or sell any such New Securities without again first offering such New Securities to the Participation Rights Holders Preferred Shareholders pursuant to this Section 32.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights HoldersPeriod, or in the event no Participation Preemptive Rights Holder exercises the Right of Participation Preemptive Rights within fourteen fifteen (1415) days Business 26 Shareholders Agreement Days following the issuance of the First Participation Notice, the Company shall have 60 ninety (90) days thereafter to sell complete the sale of the New Securities described in the First Participation Notice (the portion with respect to which the Right of Participation Preemptive Rights hereunder were not exercised) exercised at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 day ninety (90) days period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Preemptive Rights Holders pursuant to this Section 37.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights HoldersPeriod, or in the event no Participation Preemptive Rights Holder exercises the Right of Participation Preemptive Rights within fourteen thirty (1430) days following the issuance of the First Participation Notice, the Company shall have 60 one hundred and twenty (120) days thereafter to sell complete the sale of the New Securities described in the First Participation Notice (the portion with respect to which the Right of Participation Preemptive Rights hereunder were not exercised) exercised at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 one hundred and twenty (120) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Preemptive Rights Holders pursuant to this Section 3.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights HoldersPeriod, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen Participation, after ten (1410) business days following the issuance receipt of the First Participation Notice, the Company shall have 60 120 days thereafter to sell the New Securities described in the First Participation Notice (the portion with respect to which the Right of Participation pursuant to Section 3.3(a) and (b) hereunder were was not exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 120 day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 3.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights Holders, (or in the event no Participation Rights Holder exercises the Right of Participation within fourteen (14) days following the issuance upon expiration of the First Participation NoticePeriod in the event that all Participation Rights Holders failed to fully exercise their Right of Participation), the Company shall have 60 one hundred and twenty days (120) days thereafter to sell the New Securities described in the First Participation Notice (the portion to which the Right of Participation hereunder were not exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice, provided that the prospective purchaser of such New Securities shall comply with this Agreement and Restated Articles, as may be amended from time to time, to the fullest extent. In the event that the Company has not issued and sold such New Securities within such 60 one hundred and twenty days (120) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 3.

Failure to Exercise. Upon (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty (20) days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights Holders, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen (14) days following the issuance of the First Participation NoticePeriod, the Company shall have 60 a period of ninety (90) days thereafter to sell the New Securities described in the First Participation Notice or the Second Participation Notice (as applicable) which have not been subscribed by the portion Participation Rights Holders (with respect to which the Right of Participation hereunder were was not fully exercised) at the same or higher price and upon the same non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 day prescribed period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 34.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights Holders, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen ten (1410) days Business Days following the issuance of the First Participation Notice, the Company shall have 60 one hundred and twenty (120) days thereafter to sell the New Securities described in the First Participation Notice (the portion to which the Right of Participation hereunder were not exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 one hundred and twenty (120) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 3.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights HoldersPeriod, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen Participation, after thirty (1430) days following the issuance delivery of the First Participation Notice, the Company shall have 60 ninety (90) days thereafter to sell the fifty percent (50%) of the New Securities described in the First Participation Notice (the portion with respect to which the Participation Rights Holders’ Right of Participation hereunder were was not exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. Notice In the event that the Company has not issued and sold such New Securities within such 60 ninety (90) day period, period then the Company shall not thereafter issue or sell any New Securities without again first offering fifty percent (50%) of such New Securities to the Participation Rights Holders pursuant to this Section 34.

Failure to Exercise. Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights HoldersPeriod, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen fifteen (1415) days following the issuance of the First Participation Notice, the Company shall have 60 one hundred and twenty (120) days thereafter to sell the New Securities described in the First Participation Notice (the portion with respect to which the Right of Participation hereunder were not exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 one hundred and twenty (120) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation participation Rights Holders pursuant to this Section 3.

Failure to Exercise. Upon If any portion of the New Securities have not been subscribed pursuant to the exercise of the Right of Participation in accordance with Section 3.2 before the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights HoldersPeriod, or in the event no Participation Rights Holder exercises the Right of Participation within fourteen fifteen (1415) days following the issuance of the First Participation Notice, the Company shall have 60 ninety (90) days thereafter (as may be extended in order to sell obtain required regulatory approvals) to complete the issue of such portion of the New Securities described in the First Participation Notice (the portion with respect to which the Right of Participation hereunder were was not exercised) exercised at the same or a higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such 60 ninety (90) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to in accordance with this Section 3.