Common use of Issuance of Equity Securities to Other Persons Clause in Contracts

Issuance of Equity Securities to Other Persons. If not all of the Investors elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors who do so elect and shall offer such Investors the right to acquire such unsubscribed shares. The participating Investors shall have five (5) days after receipt of such notice to notify the Company of their election to purchase all or a portion thereof of the unsubscribed shares. If the Investors fail to exercise in full the rights of first refusal, the Company shall have one hundred and twenty (120) days thereafter to sell the Equity Securities in respect of which the Investor's rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company's notice to the Investors pursuant to Section 4.2 hereof. If the Company has not sold such Equity Securities within one hundred and twenty (120) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Investors in the manner provided above.

Issuance of Equity Securities to Other Persons. If not all of the Investors Purchasers elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors Purchasers who do so elect and shall offer such Investors Purchasers the right to acquire such unsubscribed sharesshares ("Subscription Notice"). The participating Investors Purchasers shall have five (5) days after receipt of such notice the Subscription Notice to notify the Company of their its election to purchase all or a portion thereof of the unsubscribed shares. If the Investors Purchasers fail to exercise in full the rights of first refusal, the Company shall have one hundred and twenty sixty (12060) days thereafter to sell the Equity Securities in respect of which the Investor's Purchasers' rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company's notice to the Investors Purchasers pursuant to Section 4.2 hereof. hereof If the Company has not sold such Equity Securities within one hundred and twenty such sixty (12060) days of the notice provided pursuant to Section 4.2days, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Investors Purchasers in the manner provided above.

Issuance of Equity Securities to Other Persons. If not all of the Investors Owners elect to purchase their full pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors Owners who do so elect and shall offer such Investors Owners the right to acquire such unsubscribed shares. The participating Investors Each Owner shall have five ten (510) days after receipt of such notice to notify the Company of their its election to purchase all or a portion thereof of the unsubscribed shares. If the Investors Owners fail to exercise in full the rights of first refusal, the Company shall have one hundred and twenty sixty (12060) days thereafter to sell the Equity Securities in respect of which the Investor's Owners' rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company's notice to the Investors Owners pursuant to Section 4.2 hereof. If the Company has not sold such Equity Securities within one hundred and twenty sixty (12060) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Investors Owners in the manner provided above.

Issuance of Equity Securities to Other Persons. If not all of the Investors Holders elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors Holders who do so elect and shall offer such Investors Holders the right to acquire such unsubscribed shares. The participating Investors Holders shall have five (5) days after receipt of such notice to notify the Company of their its election to purchase all or a portion thereof of the unsubscribed shares. If the Investors Holders fail to exercise in full the rights of first refusalpreemptive rights, the Company shall have one hundred and twenty sixty (12060) days thereafter to sell the Equity Securities in respect of which the InvestorHolder's rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company's notice to the Investors Holders pursuant to Section 4.2 hereof. If the Company has not sold such Equity Securities within one hundred and twenty sixty (12060) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Investors Holders in the manner provided above.

Issuance of Equity Securities to Other Persons. If not all of the Investors elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors who do so elect and shall offer such Investors the right to acquire such unsubscribed shares. The participating Investors shall have five (5) days after receipt of such notice to notify the Company of their its election to purchase all or a portion thereof of the unsubscribed shares. If the Investors fail to exercise in full the rights of first refusal, the Company shall have one hundred and twenty ninety (12090) days thereafter to sell the Equity Securities in respect of which the Investor's rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company's notice to the Investors pursuant to Section 4.2 3.2 hereof. If the Company has not sold such Equity Securities within one hundred and twenty (120) days of the notice provided pursuant to Section 4.23.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Investors in the manner provided above.

Issuance of Equity Securities to Other Persons. If not all of the Investors Owners elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors Owners who do so elect and shall offer such Investors Owners the right to acquire such unsubscribed shares. The participating Investors Each Owner shall have five (5) days after receipt of such notice to notify the Company of their its election to purchase all or a portion thereof of the unsubscribed shares. If the Investors Owners fail to exercise in full the rights of first refusal, the Company shall have one hundred and twenty sixty (12060) days thereafter to sell the Equity Securities in respect of which the Investor's Owners' rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company's notice to the Investors Owners pursuant to Section 4.2 hereof. If the Company has not sold such Equity Securities within one hundred and twenty sixty (12060) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Investors Owners in the manner provided above.

Issuance of Equity Securities to Other Persons. If not all of the Investors elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors who do so elect and shall offer such Investors the right to acquire such unsubscribed shares. The participating Investors shall have five (5) days after receipt of such notice to notify the Company of their its election to purchase all or a portion thereof of the unsubscribed shares. If the Investors fail to exercise in full the rights of first refusal, the Company shall have one hundred and twenty (120) days thereafter to sell the Equity Securities in respect of which the Investor's rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company's notice to the Investors pursuant to Section 4.2 hereof. If the Company has not sold such Equity Securities within one hundred and twenty (120) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, other than those set forth in Section 4.6, without first offering such securities to the Investors in the manner provided above.

Issuance of Equity Securities to Other Persons. If not all of the Investors elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors who do so elect and shall offer such Investors the right to acquire such unsubscribed shares. The participating Investors shall have five (5) business days after receipt of such notice to notify the Company of their its election to purchase all or a portion thereof of the unsubscribed shares. If the Investors fail to exercise in full the rights of first refusal, the Company shall have one hundred and twenty ninety (12090) days thereafter to sell the Equity Securities in respect of which the Investor's Investors’ rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company's ’s notice to the Investors pursuant to Section 4.2 hereof. If the Company has not sold such Equity Securities within one hundred and twenty ninety (12090) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Investors in the manner provided above.

Issuance of Equity Securities to Other Persons. If not all of the Investors elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors who do so elect and shall offer such Investors the right to acquire such unsubscribed shares. The participating Investors shall have five ten (510) days after receipt of such notice to notify the Company of their its election to purchase all or a portion thereof of the unsubscribed shares. If the Investors fail to exercise in full the rights of first refusal, the Company shall have one hundred and twenty ninety (12090) days thereafter to sell the Equity Securities in respect of which the Investor's ’s rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company's ’s notice to the Investors pursuant to Section 4.2 hereof. If the Company has not sold such Equity Securities within one hundred and twenty ninety (12090) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Investors in the manner provided above.