Common use of Subscription Right Clause in Contracts

Subscription Right. If at any time after the date hereof and prior to the effective date of the registration statement covering the Company's initial public offering, the Company proposes to issue equity securities of any kind (the term "equity securities" shall include for these purposes any warrants, options or other rights to acquire equity securities and debt securities convertible into equity securities) of the Company (other than the issuance of securities (x) upon the Reclassification or pursuant to the conversion of the New Preferred Stock, (y) pursuant to the acquisition of another corporation by the Company by merger, purchase of substantially all of the assets or other form of reorganization, or (z) pursuant to an employee stock option plan, stock bonus plan, stock purchase plan or other management equity program), then, as to each Stockholder who then holds in excess of five percent (5%) of the then outstanding shares of Common Stock, the Company shall:

Subscription Right. If at any time after the date hereof and prior to the effective date of the registration statement covering the Company's initial public offering, the Company proposes to issue equity securities of any kind (the term "equity securities" shall include for these purposes any warrants, options or other rights to acquire equity securities and debt securities convertible into equity securities) of the Company (other than the issuance of securities (x) upon the Reclassification or pursuant to the conversion of the New Preferred Stock, (y) pursuant to the acquisition of another corporation by the Company by merger, purchase of substantially all of the assets or other form of reorganization, or (z) pursuant to an employee stock option plan, stock bonus plan, stock purchase plan or other management equity program), then, as to each Stockholder who if Xxxxxxxx then holds in excess of five percent (5%) of the then outstanding shares of Common Stock, the Company shall: