Right of First Refusal for New Securities. (a) The Company hereby grants to each of the Shareholders a right of first refusal to purchase New Securities (as defined below) which the Company may, from time to time, propose to issue and sell. Such right of first refusal shall allow each Shareholder to purchase its pro rata share of the New Securities proposed to be issued based on the percentage ownership of such Shareholder before the proposed issuance of New Securities. In the event a Shareholder does not purchase any or all of its pro rata share based on its percentage ownership of New Securities, the remaining Shareholders shall each have the right to purchase its pro rata share based on its percentage ownership of such unpurchased New Securities until all of the New Securities are purchased or until no other Shareholder desires to purchase any more New Securities. The right of first refusal granted hereunder shall terminate if unexercised within 30 calendar days after receipt of the New Securities Notice described in Section 4.1(c) below.
Right of First Refusal for New Securities. (a) The Company hereby grants to each of the Stockholders that is an Accredited Investor as of the time of any offer or sale of New Securities (as defined below) a right of first refusal to purchase any New Securities that the Company may, from time to time, propose to issue and sell. Such right of first refusal shall allow each Stockholder to purchase its Pro Rata Share (as defined below) of the New Securities proposed to be issued. In the event a Stockholder does not purchase any or all of its Pro Rata Share of New Securities, each of the remaining Stockholders who has purchased its entire Pro Rata Share of New Securities shall have the right to purchase its Pro Rata Share (determined at such time) of such unpurchased New Securities until all of the New Securities are purchased, or until no other Stockholder desires to purchase any additional New Securities, in which case the Company may sell such unpurchased New Securities to prospective purchasers on the terms described in the New Issue Notice (as defined below) for a period of 120 days, but thereafter may sell additional New Securities only after delivering another New Issue Notice as described in Section 4.05(c) below. The right of first refusal granted hereunder with respect to an issue of New Securities (but no subsequent issue of New Securities) shall terminate if unexercised within 15 business days after receipt of the notice described in Section 4.05(c) below.
Right of First Refusal for New Securities. (a) The Company hereby grants to each of the Stockholders a right of first refusal to purchase shares of any New Securities (as defined below) which the Company may, from time to time, propose to issue and sell. Such right of first refusal shall allow each Stockholder to purchase a pro rata portion of the shares of Common Stock, Preferred Stock or Warrants as may be included in the New Securities proposed to be issued, determined with reference to the aggregate number of outstanding shares of Common Stock (including all Warrant Stock) or Preferred Stock (as the case may be) held by such Stockholder before the proposed issuance of New Securities. In the event a Stockholder does not purchase any or all of its pro rata portion of New Securities, the remaining Stockholders shall have the right to purchase such unpurchased New Securities or respective pro rata portion until all of the New Securities are purchased or until no other Stockholder desires to purchase any more New Securities. The right of first refusal granted hereunder shall terminate if unexercised within 30 calendar days after receipt of the notice described in Section 5.5(c) below.
Right of First Refusal for New Securities. (a) The Company hereby grants to the Purchaser a right of first refusal to purchase shares of any New Securities (as defined below) which Company may, from time to time, propose to sell and issue. Such right of first refusal shall allow Purchaser to purchase a pro rata portion of the New Securities proposed to be issued, determined with reference to the aggregate number of outstanding shares of Common Stock held by the Purchaser or its permitted
Right of First Refusal for New Securities. (a) The Company hereby grants to each of the Shareholders a right of first refusal to purchase any New Securities (as defined below) which the Company may, from time to time, propose to issue and sell. Such right of first refusal shall allow each Shareholder to purchase its Common Pro Rata Share (determined immediately prior to such issuance and sale of New Securities) of the New Securities proposed to be issued. In the event a Shareholder does not purchase any or all of its Common Pro Rata Share of New Securities, each of the remaining Shareholders shall have the right to purchase its Common Pro Rata Share (determined at such time) of such unpurchased New Securities until all of the New Securities are purchased or until no other Shareholder desires to purchase any additional New Securities. The right of first refusal granted hereunder shall terminate if unexercised within 15 calendar days after receipt of the notice described in Section 4.6(c) below.
Right of First Refusal for New Securities. The Company hereby agrees that the Purchasers shall have such rights of first refusal to purchase New Securities (as defined in the Stockholders’ Agreement) as are set forth in the Stockholders’ Agreement as of the date hereof and that such rights shall not be modified, amended or waived with respect to the Warrant Shares or Purchasers rights with respect thereto without the prior written consent of Purchasers.
Right of First Refusal for New Securities. (a) The Company hereby grants to the Securityholders a pro rata right of first refusal to purchase shares of any New Securities (as defined below) which the Company may, from time to time, propose to sell and issue. Such right of first refusal shall allow each Securityholder to purchase a pro rata portion of the shares of Stock or Stock Rights or other securities as may be included in the New Securities proposed to be issued. Such pro rata portions shall be determined by reference to the aggregate number of shares of (i) Fully Diluted Common Stock in the case of issuances to the First Reserve Stockholders or any of their affiliates or (ii) outstanding Common Stock in the case of issuances to Persons other than to the First Reserve Stockholders or any of their affiliates, as the case may be, owned in each case by each Securityholder (including the First Reserve Stockholders) before the proposed issuance of New Securities. The right of first refusal granted hereunder shall terminate if unexercised within thirty (30) days after receipt of the notice described in Section 5.3(c) below.
Right of First Refusal for New Securities. (a) Company hereby grants to Holder a right of first refusal to purchase shares of any New Securities (as defined below) which Company may, from time to time, propose to sell and issue, which right of first refusal shall survive for a period of, and be applicable to New Securities issued within, three years after the date hereof. Such right of first refusal shall allow Holder to purchase a pro rata portion of the New Securities proposed to be issued, determined with reference to the aggregate number of outstanding shares of Common Stock (determined on an as if exercised basis) held by such Holder or its permitted transferees before the proposed issuance of New Securities. In the event any Holder does not purchase any or all of its pro rata portion of New Securities, the other Holders shall have the right to purchase such unpurchased New Securities. The right of first refusal granted hereunder shall terminate if unexercised within 10 Business Days after receipt of the notice described in Section 17(c) hereof. Holders may reallocate their right of first refusal among themselves.
Right of First Refusal for New Securities. (a) The Company hereby grants to each Purchaser, so long as such Purchaser shall own the greater of 500,000 Securities Purchase Agreement
Right of First Refusal for New Securities. (a) Subject to ----------------------------------------- the limitations set forth in Section 7.1(b) below, the Company hereby grants to each Stockholder the right of first refusal to purchase a pro rata portion of any New Securities (as defined in this Section 7) which the Company may, from time to time, propose to sell and issue. A Stockholder's pro rata share, for purposes of this Section 7 is the ratio that the number of Shares held by such Stockholder at the time of the issuance of the New Securities bears to the total number of Common Stock and Preferred Stock then outstanding (on a fully diluted basis and an as converted to Common Stock basis).
