Common use of Election Right of Investor Clause in Contracts

Election Right of Investor. within twenty (20) Business Days of receipt of the notice of the Company contemplated in paragraph (a) above, the Investor may notify the Company that it has elected to participate in such Debt or Royalty Financing, up to an amount equal to the Investor’s Percentage in respect of such Debt or Royalty Financing on a pro rata basis, at its sole discretion, and thereafter the Company and the Investor will (and, if applicable, the Company will cause any other applicable Persons to) take steps to promptly complete such Debt or Royalty Financing on terms and conditions acceptable to the Investor but which substantially match the terms of the Debt or Royalty Financing proposed to be entered into by the Company with the other Person, if applicable; failing which, the Investor shall be deemed to have elected not to exercise its rights under this paragraph 5; and

Election Right of Investor. within twenty (20) Business Days of receipt of the notice of the Company contemplated in paragraph (a) above, the Investor may notify the Company that it has elected to participate in such Debt or Royalty Financing, up to an amount equal to the Investor’s Percentage in respect of such Debt or Royalty Financing on a pro rata basis, at its sole discretion, and thereafter the Company and the Investor will (and, if applicable, the Company will cause any other applicable Persons to) take steps to promptly complete such Debt or Royalty Financing on terms and conditions acceptable to the Investor but which substantially match the terms of the Debt or Royalty Financing proposed to be entered into by the Company with the other Person, if applicable; failing which, the Investor shall be deemed to have elected not to exercise its rights under this paragraph 56; and