Common use of Expiration of Right Clause in Contracts

Expiration of Right. The rights of first refusal granted under this Section 3 shall not apply to, and shall expire upon, the effectiveness of a registration statement for the sale of the Company’s shares of Common Stock in a firm commitment underwritten public offering registered under the 1933 Act that results in the automatic conversion of the Investor Stock into shares of the Company’s Common Stock pursuant to the terms of the Restated Certificate (a “Qualified Public Offering”).

Expiration of Right. The rights of first refusal granted under this Section 3 1 shall not apply to, and shall expire upon, (a) the effectiveness of a the Company's next registration statement for the sale of the Company’s its shares of Common Stock in a firm commitment underwritten public offering registered under the 1933 Act that results in the automatic conversion (other than a registration relating solely to employee benefit plans of the Investor Stock into shares of the Company’s Common Stock pursuant to the terms of the Restated Certificate not less than $5,000,000 (a “"Qualified Public Offering”"); (b) on the fifth anniversary of the execution of this Agreement; or (c) if the Series A Convertible Preferred Stock is no longer outstanding.

Expiration of Right. The rights right of first refusal granted under this Section 3 shall not apply to, and shall expire upon, the effectiveness closing of a registration statement for the sale of the Company’s shares of Common Stock in a firm commitment underwritten public offering registered under the 1933 Act that results in (other than a registration relating solely to a transaction under Rule 145 under the automatic conversion of the Investor Stock into shares of the Company’s Common Stock pursuant to the terms of the Restated Certificate 1933 Act or any successor rule thereto) (hereinafter, a “"Qualified Public Offering”").

Expiration of Right. The rights of first refusal granted under this Section 3 shall not apply to, and shall expire upon, the effectiveness of a the Company's initial registration statement for the sale of the Company’s its shares of Common Stock in a firm commitment underwritten public offering registered under the 1933 Act that results in (other than a registration relating solely to employee benefit plans or to a transaction under Rule 145 under the automatic conversion of the Investor Stock into shares of the Company’s Common Stock pursuant to the terms of the Restated Certificate 1933 Act or any successor rule thereto) (a “"Qualified Public Offering”").

Expiration of Right. The rights of first refusal granted under this Section 3 shall not apply to, and shall expire upon, the effectiveness of a registration statement for the sale of the Company’s shares of Common Stock in a firm commitment an underwritten public offering registered under the 1933 Act that results in the automatic conversion of the Investor Stock into shares of the Company’s Common Stock pursuant to the terms of the Restated Certificate (a “Qualified Public Offering”).

Expiration of Right. The rights of first refusal granted under this Section 3 6.2 shall not apply to, and shall expire upon, the effectiveness of a registration statement for the sale of the CompanyLicensee’s shares of Common Stock in a firm commitment underwritten public offering registered under the 1933 Act that results in the automatic conversion of the Investor Stock all of Licensee’s shares of Licensee capital stock into shares of the Company’s Common Stock pursuant to the terms of the Restated Company’s Certificate of Incorporation (a “Qualified Public Offering”).

Expiration of Right. The rights of first refusal granted under ------------------- this Section 3 shall not apply to, and shall expire upon, the effectiveness of a registration statement for the sale of the Company’s 's shares of Common Stock in a firm commitment an underwritten public offering registered under the 1933 Act that results in the automatic conversion of the Investor Stock into shares of the Company’s Common Stock pursuant yielding gross proceeds to the terms Corporation (before deducting underwriter discounts) of the Restated Certificate at least $25,000,000 and at a pre-money valuation of $150,000,000 (a “"Qualified Public Offering”").