Common use of Early Termination of Right of First Refusal Clause in Contracts

Early Termination of Right of First Refusal. The other provisions of this Option Agreement notwithstanding, the Right of First Refusal shall terminate and be of no further force and effect upon (a) the occurrence of a transfer of control, unless the successor entity assumes the Company's rights and obligations under the Option or substitutes a substantially equivalent option for the successor entity's stock for the Option, or (b) the existence of a public market for the class of shares subject to the Right of First Refusal. A "PUBLIC MARKET" shall be deemed to exist if (i) such stock is listed on a national securities exchange (as that term is used in the Exchange Act) or (ii) such stock is traded on the over-the-counter market and prices therefor are published daily on business days in a recognized financial journal.

Early Termination of Right of First Refusal. The other provisions of this Option Agreement Warrant notwithstanding, the Right of First Refusal shall terminate and be of no further force and effect upon (a) the occurrence of a transfer of controlChange in Control, unless the successor entity Acquiring Corporation assumes the Company's rights and obligations under the Option this Warrant or substitutes a substantially equivalent option for the successor entityAcquiring Corporation's stock for the Optionthis Warrant, or (b) the existence of a public market for the class of shares subject to the Right of First Refusal. A "PUBLIC MARKET" shall be deemed to exist if (i) such stock is listed on a national securities exchange (as that term is used in the Exchange Act) or (ii) such stock is traded on the over-the-counter market and prices therefor are published daily on business days in a recognized financial journal.

Early Termination of Right of First Refusal. The other provisions of this Option Agreement paragraph 11 notwithstanding, the Right of First Refusal shall terminate terminate, and be of no further force and effect effect, upon (ai) the occurrence of a transfer Transfer of controlControl, unless the successor entity surviving, continuing, successor, or purchasing corporation or parent corporation thereof, as the case may be, assumes the Company's rights and obligations under the Option or substitutes a substantially equivalent option for the successor entity's stock for the OptionPlan, or (bii) the existence of a public market for the class of shares subject to the Right of First Refusal. A "PUBLIC MARKETpublic market" shall be deemed to exist if (ix) such stock is listed on a national securities exchange (as that term is used in the Exchange Act) or (iiy) such stock is traded on the over-the-counter market and prices therefor are published daily on business days in a recognized financial journal.

Early Termination of Right of First Refusal. The other provisions of this Option Agreement paragraph 12 notwithstanding, the Right of First Refusal shall terminate terminate, and be of no further force and effect effect, upon (ai) the occurrence of a transfer Transfer of controlControl, unless the successor entity surviving, continuing, successor, or purchasing corporation or parent corporation thereof, as the case may be, assumes the Company's rights and obligations under the Option or substitutes a substantially equivalent option for the successor entity's stock for the OptionPlan, or (bii) the existence of a public market for the class of shares subject to the Right of First Refusal. A "PUBLIC MARKETpublic market" shall be deemed to exist if (ix) such stock is listed on a national securities exchange (as that term is used in the Exchange Act) ), or (iiy) such stock is traded on the over-the-counter market and prices therefor are published daily on business days in a recognized financial journal.

Early Termination of Right of First Refusal. The other provisions of this Option Agreement notwithstanding, the Right of First Refusal shall terminate and be of no further force and effect upon (a) the occurrence of a transfer Transfer of controlControl, unless the successor entity Acquiring Corporation assumes the Company's rights and obligations under the Option or substitutes a substantially equivalent option for the successor entityAcquiring Corporation's stock for the Option, or (b) the existence of a public market for the class of shares subject to the Right of First Refusal. A "PUBLIC MARKET" shall be deemed to exist if (i) such stock is listed on a national securities exchange (as that term is used in the Exchange Act) or (ii) such stock is traded on the over-the-counter market and prices therefor are published daily on business days in a recognized financial journal. 13.