RIGHT TO PURCHASE STOCK. 8.1. Lender or its assignee or nominee shall have the right, in its discretion, to purchase shares of Borrower’s securities having an aggregate purchase price of up to $1,500,000 in connection with the Next Event. Such right shall be upon the same terms and conditions afforded to other investors in the Next Event.
RIGHT TO PURCHASE STOCK. Subject only to the preconditions to Closing set forth in Article IV of this Agreement, MEEMIC Holdings hereby grants to the Purchaser the right to subscribe for, acquire and purchase the number of Shares which, when multiplied by the Purchase Price, equals: The positive difference, if any, remaining after the greater of (i) the Subscription Amount or (ii) the Offering Minimum is subtracted from the Offering Maximum.
RIGHT TO PURCHASE STOCK. 8.1. Lender or its assignee or nominee (which shall be reasonably satisfactory to Borrower) shall have the right; in its discretion, to purchase shares of Borrower's securities having an aggregate purchase price of up to One Million Dollars ($1,000,000) concurrent with the consummation of the Next Event; provided that (i) the Borrower has not consummated an Initial Public Offering prior to or on the date of the consummation of the Next Event and (ii) Borrower's securities are not traded on a national exchange on or prior to the date of the consummation of the Next Event. Such right shall be upon the same terms and conditions afforded to other investors in the Next Event.
RIGHT TO PURCHASE STOCK. As of the Effective Date, the Board shall ----------------------- grant Executive the right to purchase 48,000 shares of the Company's Series C Preferred Stock at a purchase price of $1.67 per share on the date of grant (the "Stock"). The Stock shall be subject to the terms, definitions and provisions of that certain Preferred Stock Purchase Agreement by and among the Company and certain investors dated as of May 12, 1999 (the "Stock Agreement"), which is incorporated herein by reference.
RIGHT TO PURCHASE STOCK. In the event that, any time following the Distribution date, a person or group becomes an Acquiring Person, each holder of a Right (except those held by the Acquiring Person and its affiliates and associates) will have the right to purchase, upon exercise, Common Shares (or, in certain circumstances, Preferred Shares or other similar securities of the Company) having a value equal to two times the exercise price of the Right. In other words, the Rights holders other than the Acquiring Person may purchase Common Shares or other securities at a 50% discount. For example, at the exercise price of $100 per Right, each Right not owned by an Acquiring Person would entitle its holder to purchase $200 worth of Common Shares (or other consideration, as noted above) for $100. Assuming a value of $20 per Common Share at such time, the holder of each valid Right would be entitled to purchase 10 Common Shares for $100. RIGHT TO PURCHASE ACQUIRING PERSON STOCK Alternatively, if, in a transaction not approved by the Board of Directors prior to the time any person or group becomes an Acquiring Person, the Company is acquired in a merger or other business combination or 50% or more of its assets or earning power are sold after a person or group has become an Acquiring Person, and the Company's redemption right has expired, proper provision will be made so that each holder of a Right will thereafter have the right to purchase, upon exercise, that number of shares of common stock of the acquiring company as have a market value of two times the exercise price of the Right. In other words, a Rights holder may purchase the acquiring company's common stock at a 50% discount.
RIGHT TO PURCHASE STOCK. If a person or group acquires, or obtains the right to acquire, 15% or more of the outstanding Common Stock of the Company (and thereby becomes an Acquiring Person), each holder of a Right (except those held by the Acquiring Person and its Affiliates and Associates) will have the right to purchase, upon exercise, Preferred Stock of the Company having a value equal to two times the exercise price of the Right. If, at any time after the Stock Acquisition Date, the Company is involved in a merger or other business combination in which (i) the Company is not the surviving corporation (except for a merger that results from an offer for all the outstanding Common Stock of the Company, which offer the Company’s board of directors deems fair and in the best interest of the Company and its stockholders), or (ii) 50% or more of the Company’s assets, cash flow or earning power is sold or transferred, then each holder of a Right (except holders of Rights which have previously been voided) will have the right to receive, after the exercise of the Right, common stock of the acquiring company having a value equal to two times the exercise price of the Right.
RIGHT TO PURCHASE STOCK. 1.46 Lender or its assignee or nominee shall have the right, in its discretion, pursuant to that certain letter agreement between Lender and Borrower dated as of the Closing Date, to purchase shares of Borrower’s securities having an aggregate purchase price of up to $2,000,000 in the Next Event on the same terms and conditions afforded to other investors in the Next Event, all as more fully described in the letter agreement, the terms of which supersede this provision.
RIGHT TO PURCHASE STOCK. In addition to the Options granted hereunder, the Company grants you a one-time option to purchase shares of the Company's common stock and Series B Preferred Stock as follows:
RIGHT TO PURCHASE STOCK. 8.1 Lender shall have the right, in its discretion, to purchase shares of Borrower's securities having an aggregate purchase price of up to One Million U.S. Dollars ($1,000,000.00) in the first Equity Event to occur after the Closing Date and prior to an Initial Public Offering. Such right shall be upon the most favorable terms and conditions afforded to other investors in each such Equity Event (not including any board of directors representation rights, veto rights and any similar rights), provided, however, that if Lender will wish, at any time following such purchase, but before Borrower's Initial Public Offering, to sell or otherwise transfer, directly or indirectly, any or all of such shares purchased by the Lender, it shall be required to offer the Borrower to acquire such shares, and if the Borrower refuses then the Lender may sell or transfer such shares, but on terms not more favorable to the buyer of such shares than the terms offered by the Lender to the Borrower. Notwithstanding the foregoing, the Lender agrees and
RIGHT TO PURCHASE STOCK. If a person or group acquires, or obtains the right to acquire, 15% or more of the outstanding Common Stock of the Company, or in the case of an Adverse Person, 12% or more of the outstanding Common Stock of the Company (and thereby becomes an Acquiring Person), each holder of a Right (except those held by the Acquiring Person and its Affiliates and Associates) will have the right to purchase, upon exercise, Preferred Stock of the Company having a value equal to two times the exercise price of the Right. If, at any time after the Stock Acquisition Date, the Company is involved in a merger or other business combination in which (i) the Company is not the surviving corporation (except for a merger that results from an offer for all the outstanding Common Stock of the Company, which offer the Company’s board of directors deems fair and in the best interest of the Company and its stockholders), or (ii) 50% or more of the Company’s assets, cash flow or earning power is sold or transferred, then each holder of a Right (except holders of Rights which have previously been voided) will have the right to receive, after the exercise of the Right, common stock of the acquiring company having a value equal to two times the exercise price of the Right.
