Common use of Transfer of Rights of First Refusal Clause in Contracts

Transfer of Rights of First Refusal. The rights of first refusal of each Holder under this Section 4 may be transferred (a) to any subsidiary or parent company of such Holder, to any partner or affiliated entity of such Holder or to any successor in interest to all or substantially all the assets of such Holder, or (b) with respect to at least 100,000 shares of Registrable Securities (as presently constituted and subject to subsequent adjustments for stock splits, stock dividends, reverse stock splits and similar events), to a transferee other than a direct competitor of the Company, provided that the Company is given written notice by the Holder stating the name and address of the transferee and identifying the Registrable Securities with respect to which the rights under this Section 4 are being assigned.

Transfer of Rights of First Refusal. The rights of first refusal of each Holder under this Section 4 may be transferred (a) to any subsidiary or parent company of such Holder, to any partner or affiliated entity of such Holder or to any successor in interest to all or substantially all the assets of such Holder, or (b) with respect to at least 100,000 shares of Registrable Securities (as presently constituted and subject to subsequent adjustments for stock splits, stock dividends, reverse stock splits and similar events), to a transferee other than a direct competitor of the Company, provided that the Company is given written notice by the Holder stating the name and address of the transferee and identifying the Registrable Securities with respect to which the rights under this Section 4 are being assigned.