Common use of Purchase Rights Clause in Contracts

Purchase Rights. In addition to any adjustments pursuant to Section 7 below, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such Holder could have acquired if such Holder had held the number of shares of Common Stock acquirable upon complete conversion of all the Preferred Shares (without taking into account any limitations or restrictions on the convertibility of the Preferred Shares) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that such Holder’s right to participate in any such Purchase Right would result in such Holder exceeding the Maximum Percentage, then such Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Maximum Percentage).

Appears in 3 contracts

Samples: Exchange Agreement (Majesco Entertainment Co), Exchange Agreement (Majesco Entertainment Co), Registration Rights Agreement (Majesco Entertainment Co)

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Purchase Rights. In addition to any adjustments pursuant to Section 7 below, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion of all the Preferred Shares this Note (without taking into account any limitations or restrictions on the convertibility of the Preferred Sharesthis Note) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that such the Holder’s right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage).

Appears in 3 contracts

Samples: Convertible Promissory Note (Puramed Bioscience Inc.), Securities Purchase Agreement (American Superconductor Corp /De/), Ads in Motion, Inc.

Purchase Rights. In addition to any adjustments pursuant to Section 7 belowARTICLE 2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of shares of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion exercise of all the Preferred Shares this Warrant (without taking into account regard to any limitations or restrictions on the convertibility exercise of the Preferred Sharesthis Warrant) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (Rights; provided, however, to the extent that such the Holder’s right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage).

Appears in 3 contracts

Samples: Securities Purchase Agreement (Bionovo Inc), Security Agreement (NYXIO TECHNOLOGIES Corp), Securities Purchase Agreement (Oilsands Quest Inc)

Purchase Rights. In addition to any adjustments pursuant to Section 7 below2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each the Holder will be entitled entitled, and the Company shall reserve the Holder’s pro rata share of the Purchase Rights pending complete exercise of this Warrant, to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion exercise of all the Preferred Shares this Warrant (without taking into account regard to any limitations or restrictions on exercise of this Warrant, including without limitation, the convertibility of the Preferred SharesMaximum Percentage) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that to the extent that such the Holder’s right to participate in any such Purchase Right would result in such the Holder and the other Attribution Parties exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or and shall not be entitled to beneficial ownership of such shares of Common Stock as a result of such Purchase Right (and beneficial ownership) to such extent) and such Purchase Right to such extent shall be held in abeyance for such Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Maximum Percentage).

Appears in 2 contracts

Samples: Larimar Therapeutics, Inc., Renovacor, Inc.

Purchase Rights. In addition to any adjustments pursuant to Section 7 below2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion exercise of all the Preferred Shares this Warrant (without taking into account regard to any limitations or restrictions on exercise hereof, including without limitation, the convertibility of the Preferred SharesMaximum Percentage) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that such the Holder’s right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage).

Appears in 2 contracts

Samples: Securities Purchase Agreement (Mullen Automotive Inc.), Securities Purchase Agreement (Net Element, Inc.)

Purchase Rights. In addition to any adjustments pursuant to Section 7 below, if If at any time prior to the Expiration Date the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of shares of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion exercise of all this Warrant (and, if applicable, subsequent exercise of the Preferred Shares Pre-Funded Warrant), assuming a Cash Exercise for Common Stock (in both cases, and without taking into account regard to any limitations or restrictions on the convertibility exercise of this Warrant or the Preferred SharesPre-Funded Warrant) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, if the Holder then holds any amount of Pre-Funded Warrant, to the extent that such the Holder’s right to participate in any such Purchase Right Rights would result in such the Holder exceeding the Maximum PercentagePercentage (as defined in the Pre-Funded Warrant), then such the Holder shall not be entitled to participate purchase additional Pre-Funded Warrants in such Purchase Right to such extent (or beneficial ownership lieu of such shares of Common Stock as a result of underlying (directly or indirectly) such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Maximum Percentage)Rights.

Appears in 2 contracts

Samples: Registration Rights Agreement (Leap Therapeutics, Inc.), Leap Therapeutics, Inc.

Purchase Rights. In addition to any adjustments pursuant to Section 7 below2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock Shares (the "Purchase Rights"), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock Shares acquirable upon complete conversion exercise of all the Preferred Shares this Warrant (without taking into account regard to any limitations or restrictions on exercise hereof, including without limitation, the convertibility of the Preferred SharesMaximum Percentage) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock Shares are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that such the Holder’s 's right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or in the beneficial ownership of such shares of any Common Stock Shares as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Maximum Percentage).

Appears in 2 contracts

Samples: Underwriting Agreement (Intellipharmaceutics International Inc.), Intellipharmaceutics International Inc.

Purchase Rights. In addition to any adjustments pursuant to Section 7 below, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion of all the Preferred Shares this Note (without taking into account any limitations or restrictions on the convertibility of the Preferred Sharesthis Note) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that such the Holder’s right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Securities Purchase Agreement (Competitive Technologies Inc)

Purchase Rights. In addition to any adjustments pursuant to Section 7 below7(a) above, if at any time the Company Corporation grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion of all the its Preferred Shares Stock (without taking into account regard to any limitations or restrictions on the convertibility conversion of the Preferred SharesStock) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (Rights; provided, however, to the extent that such the Holder’s right to participate in any such Purchase Right would result in such Holder the Holder’s ownership exceeding the Maximum PercentageBeneficial Ownership Limitation, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Securities Purchase Agreement (Madrigal Pharmaceuticals, Inc.)

Purchase Rights. In addition to any adjustments pursuant to Section 7 below2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common shares of Series D Preferred Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Series D Preferred Stock acquirable upon complete conversion exercise of all the Preferred Shares (without taking into account any limitations or restrictions on the convertibility of the Preferred Shares) held by such Holder this Warrant immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common shares of Series D Preferred Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that to the extent that such the Holder’s right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Nutracea

Purchase Rights. In addition to any adjustments pursuant to Section 7 below2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion exercise of all the Preferred Shares this Warrant (without taking into account regard to any limitations or restrictions on exercise of this Warrant, including without limitation, the convertibility of the Preferred SharesMaximum Percentage) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that, to the extent that such the Holder’s right to participate in any such Purchase Right would result cause the Holder to beneficially own Common Stock in such Holder exceeding excess of the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Larimar Therapeutics, Inc.

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Purchase Rights. In addition to any adjustments pursuant to Section 7 below2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion exercise of all the Preferred Shares this Warrant (without taking into account regard to any limitations or restrictions on exercise hereof, including without limitation, the convertibility of the Preferred SharesMaximum Percentage) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no No such record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that such the Holder’s right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Securities Purchase Agreement (Ideanomics, Inc.)

Purchase Rights. In addition to any adjustments pursuant to Section 7 below2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the "Purchase Rights"), then each the Holder will be entitled entitled, and the Company shall reserve the Holder’s pro rata share of the Purchase Rights pending complete exercise of this Warrant, to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion exercise of all the Preferred Shares this Warrant (without taking into account regard to any limitations or restrictions on exercise of this Warrant, including without limitation, the convertibility of the Preferred SharesMaximum Percentage) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that to the extent that such the Holder’s 's right to participate in any such Purchase Right would result in such the Holder and the other Attribution Parties exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or and shall not be entitled to beneficial ownership of such shares of Common Stock as a result of such Purchase Right (and beneficial ownership) to such extent) and such Purchase Right to such extent shall be held in abeyance for such Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Letter Agreement (WPCS International Inc)

Purchase Rights. In addition to any adjustments pursuant to Section 7 belowARTICLE 2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of shares of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion exercise of all the Preferred Shares this Warrant (without taking into account regard to any limitations or restrictions on the convertibility exercise of the Preferred Sharesthis Warrant) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (Rights; provided, however, to the extent that such the Holder’s right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Securities Purchase Agreement (Marina Biotech, Inc.)

Purchase Rights. In addition to any adjustments pursuant to Section 7 below5 herein, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such the Holder could have acquired if such the Holder had held the number of shares of Common Stock acquirable upon complete conversion of all the Preferred Shares this Note (without taking into account regard to any limitations or restrictions on exercise hereof, including without limitation, the convertibility of the Preferred SharesMaximum Percentage) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that such the Holder’s right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Securities Purchase Agreement (Net Element, Inc.)

Purchase Rights. In addition to any adjustments pursuant to Section 7 below, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the “Purchase Rights”), then each Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such Holder could have acquired if such Holder had held the number of shares of Common Stock acquirable upon complete conversion of all the Preferred Shares (without taking into account any limitations or restrictions on the convertibility of the Preferred Shares) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that such Holder’s right to participate in any such Purchase Right would result in such Holder exceeding the Maximum Percentage, then such Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Registration Rights Agreement (Majesco Entertainment Co)

Purchase Rights. In addition to any adjustments pursuant to Section 7 below, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders Record Holders of any class of Common Stock (the “Purchase Rights”), then each Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such Holder could have acquired if such Holder had held the number of shares of Common Stock acquirable upon complete conversion of all the Preferred Shares (without taking into account any limitations or restrictions on the convertibility of the Preferred Shares) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders Record Holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that such Holder’s right to participate in any such Purchase Right would result in such Holder exceeding the Maximum Percentage, then such Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Maximum Percentage).

Appears in 1 contract

Samples: Equity Purchase Agreement (Mabvax Therapeutics Holdings, Inc.)

Purchase Rights. In addition to any adjustments pursuant to Section 7 below, if If at any time the Company Corporation grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record holders of any class of Common Stock (the "Purchase Rights"), then each Holder the Holders will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such Holder could have acquired if such Holder had held the number of shares of Common Stock acquirable upon complete conversion of all the Series A Preferred Shares Stock (without taking into account any limitations or restrictions on the convertibility of the Series A Preferred SharesStock) held by such Holder immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that to the extent that such a Holder’s 's right to participate in any such Purchase Right would result in such the Holder exceeding the Maximum Percentage, then such the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for such the Holder until such time, if ever, as its right thereto would not result in such the Holder exceeding the Maximum Percentage, at which time the Holder shall be granted such right to the same extent as if there had been no such limitation).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Vringo Inc)

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