Holder Option Sample Clauses

Holder Option. In the event of a call by the Company pursuant to this Section 5, the Holders, at their option, may for a period of thirty (30) days following the Call Notice Date require the Company to convert their Notes into fully paid and nonassessable shares of the Company's Common Stock at the Conversion Price (the "Holder's Option").

Holder Option. For purposes of this provision, a "

Holder Option. The Holders shall have an option for a period of twenty (20) days from the Holder's receipt of the Transfer Notice from the Employee Holder set forth in Section 3.1(b) to purchase their respective pro rata shares of the Offered Shares at the same price and subject to the same material terms and conditions as described in the Transfer Notice. Each of such persons may exercise such purchase option and, thereby, purchase all or any portion of his or its pro rata shares (with any reallotments as provided below) of the Offered Shares, by notifying the Employee Holder and the Company in writing, before expiration of the initial twenty (20) day period as to the number of such shares which he or it wishes to purchase. Each Holder's pro rata share of the Offered Shares shall be a fraction of the Offered Shares, of which the number of shares of Common Stock which have been issued and are held by such Holder or issuable upon conversion of the Preferred Shares or exercise of warrants held by such Holder on the date of the Holder's receipt of the Transfer Notice from the Employee Holder (the "Notice Date") shall be the numerator and the total number of shares of Common Stock issued or issuable upon conversion of all Preferred Shares or exercise of warrants held by all Holders on the Notice Date shall be the denominator. Each Holder shall have a right of overallotment such that, if any other Holder fails to exercise the right to purchase its full pro rata share of the Offered Shares, the other participating Holders before the date ten (10) days following the expiration of the initial twenty (20) day period, exercise an additional right to purchase, on a pro rata basis, the Offered Shares not previously purchased by so notifying the Employee Holder and the Company, in writing, within such ten (10) day period. Each Holder shall be entitled to apportion the Offered Shares to be purchased among its partners and affiliates, provided that such Holder notifies the Employee Holder of such allocation. If a Holder gives the Employee Holder notice that it desires to purchase its share and, as the case may be, its overallotment, then payment for the Offered Shares shall be by check or wire transfer, against delivery of the Offered Shares to be purchased at a place agreed upon between the parties and at the time of the scheduled closing therefor.

Holder Option. If at any time on or prior to February 1, 2002, there is a Redemption Event, Holders of a majority in principal amount of the outstanding Notes may, by written notice to the Company, require that the Company redeem all, but not less than all, of the outstanding Notes at a redemption price equal to 100% of the principal amount of the Notes so being redeemed, plus accrued interest to the redemption date, plus a redemption premium equal to 2% of the principal amount redeemed; provided, however, that in the event of closing of any public offering of any equity or debt securities of the Company, the amount redeemed shall not exceed the amount of net proceeds received by the Company in connection with such public offering. In addition, if at any time on or prior to February 1, 2002, there is a Refinancing Event, each Holder may, by written notice to the Company, require that the Company redeem up to one-half of the principal amount of the Notes held by such Holder at a redemption price equal to 100% of the principal amount of the Notes so being redeemed, plus accrued interest to the redemption date, plus a redemption premium equal to 2% of the principal amount redeemed; provided, however, that the amount redeemed shall not exceed the net proceeds received by the Company in connection with such Refinancing Event.

Holder Option