Common use of Failure to Exercise Clause in Contracts

Failure to Exercise. (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty (20) days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, the Company shall have a period of ninety (90) days thereafter to sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation was not fully exercised) at the same or a higher price and upon non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed period, then the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In the event that none of the Participation Rights Holders do not exercise the Right of Participation with respect to all any New Securities described in the First Participation Notice, after twenty (20) days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, the Company shall have a period of ninety (90) days thereafter to sell to other third parties the New Securities described in the First Participation Notice (with respect to which the Right of Participation was not fully exercised) at the same or a higher price and upon non-price the same terms not more favorable to the purchasers thereof than as specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed period, then the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, (i) after twenty (20) days Business Days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, the Company shall have a period of ninety (90) days thereafter to sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation was not fully exercised) at the same or a higher price and upon non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed period, then the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the Participation Rights Holders pursuant to this Section 44.1.

Failure to Exercise. (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty (20) days following the date of the First Participation Notice, or (ii) upon Upon the expiration of the Second Participation Period, or, in the event no Participation Rights Holder exercises its Right of Participation in accordance with Section 5.3(a), upon the expiration of the First Participation Period, the Company shall have a period of ninety one hundred and twenty (90120) days thereafter to sell the any New Securities described in the First Participation Notice (with respect to which the Right of Participation hereunder was not fully exercised) to the subscribers specified in the First Participation Notice at the same or a higher price per New Security and upon other non-price terms and conditions not more favorable to the purchasers subscribers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed one hundred and twenty (120) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 45.

Failure to Exercise. (i) In the event that none of the Participation Rights Holders do not exercise the fully its Right of Participation in accordance with respect to all New Securities described in the First Participation Noticesubsection (d)(i) above, after twenty (20) days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, the Company shall have a period of ninety (90) days thereafter to sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation was not fully exercised) at the same or a higher price and upon the same non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed period, then the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In the event Participation If Participating Rights Holders do not fail to respond within thirty (30) days after the receipt of the Participation Notice or decline to exercise the Right of Participation with respect to their rights or purchase all New Securities described included in the First Participation Notice, after twenty (20Notice within the notice period under Section 4.3(a) days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Periodb), the Company shall have a period of ninety (90) days thereafter after expiration of the Participation Notice, as the case may be, to sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation was hereunder were not fully exercised) at the same or a higher price and upon non-price terms not no more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed ninety (90) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty (20) days following the date of the First Participation Notice, or (ii) upon Upon the expiration of the Second Participation Period, or in the event no Participation Rights Holder exercises the Right of Participation, after thirty (30) days following the delivery of the First Participation Notice, the Company shall have a period of ninety (90) days thereafter to sell the fifty percent (50%) of the New Securities described in the First Participation Notice (with respect to which the Participation Rights Holders’ Right of Participation hereunder was not fully exercised) at the same or a higher price and upon non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed ninety (90) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering fifty percent (50%) of such New Securities to the Participation Rights Holders pursuant to this Section 4.. 4.6

Failure to Exercise. (i) In the event Participation If Participating Rights Holders do not fail or decline to exercise the Right of Participation with respect to their rights or purchase all New Securities described included in the First Participation NoticeNotice in accordance with Section 4.3, after twenty the Company shall have ninety (2090) days following the expiration of the date of the First Participation Notice, Notice or (ii) upon the expiration of the Second Participation PeriodNotice, as the Company shall have a period of ninety (90) days thereafter case may be, to sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation was hereunder were not fully exercised) at the same or a higher price and upon non-price terms not no more favorable to the purchasers thereof than those specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed ninety (90)-day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty (20) days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, the Company shall have a period of ninety (90) days thereafter to sell the New Securities described in the First Participation Notice or the Second Participation Notice (as applicable) which have not been subscribed by the Participation Rights Holders (with respect to which the Right of Participation was not fully exercised) at the same or a higher price and upon the same non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed period, then the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights Holders, or in the event no Participation Rights Holders do not exercise Holder exercises the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty within ten (2010) days Business Days following the date issuance of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, the Company shall have a period of ninety one hundred and twenty (90120) days thereafter to sell the New Securities described in the First Participation Notice (with respect the portion to which the Right of Participation was hereunder were not fully exercised) at the same or a higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed one hundred and twenty (120) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 43.

Failure to Exercise. (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty twenty-five (2025) days Business Days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, as the case may be, the Company shall have a period of ninety one hundred and twenty (90120) days thereafter to sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation was not fully exercised) at the same or a higher price and upon the same non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed period, then the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In Upon the expiration of the Second Participation Period and to the extent that not all New Securities have been subscribed for by the Participation Rights Holders, or in the event no Participation Rights Holders do not exercise Holder exercises the Right of Participation with respect to all New Securities described in the First Participation Notice, after within twenty (20) days Business Days following the date issuance of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, the Company shall have a period of ninety forty (9040) days Business Days thereafter to sell the New Securities described in the First Participation Notice (with respect the portion to which the Right of Participation hereunder was not fully exercised) at the same or a higher price and upon non-price the other terms and conditions not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed forty (40) Business Day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 43.

Failure to Exercise. (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty (20) days following the date of the First Participation Notice, or (ii) upon Upon the expiration of the Second Participation Period, or in the event no Participation Rights Holder exercises the Right of Participation, after thirty (30) days following the delivery of the First Participation Notice, the Company shall have a period of ninety (90) days thereafter to sell the fifty percent (50%) of the New Securities described in the First Participation Notice (with respect to which the Participation Rights Holders’ Right of Participation hereunder was not fully exercised) at the same or a higher price and upon non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed ninety (90) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering fifty percent (50%) of such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty ten (2010) days Business Days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, the Company shall have a period of ninety (90) days thereafter to sell the New Securities described (in the First Participation Notice (with respect to of which the any Right of Participation was not fully exercised) at the same or a higher price and upon the same non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed period, then the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In the event the Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty thirty (2030) days Busienss Days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Period, the Company shall have a period of ninety (90) days thereafter to sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation was not fully exercised) at the same or a higher price and upon the same non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed period, then the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In the event Participation If Participating Rights Holders do not fail or decline to fully exercise the Right of Participation with respect their rights to purchase all New Securities described included in the First Participation Notice, after twenty (20Notice within the notice period under Section 4.3(a) days following the date of the First Participation Notice, or (ii) upon the expiration of the Second Participation Periodb), the Company shall have a period of ninety (90) days thereafter after expiration of the First Participation Notice or Second Participation Notice, as the case may be, to sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation was hereunder were not fully exercised) at the same or a higher price and upon non-price terms not no more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such prescribed ninety (90) day period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 4.

Failure to Exercise. (i) In the event Participation Rights Holders do not exercise the Right of Participation with respect to all New Securities described in the First Participation Notice, after twenty (20) days following the date of the First Participation Notice, or (ii) upon Upon the expiration of the Second Participation Period, or in the event no Participation Rights Holder exercises the Right of Participation, after thirty (30) days following the delivery of the First Participation Notice, the Company shall have a period of ninety (90) days thereafter to sell the fifty percent (50%) of the New Securities described in the First Participation Notice (with respect to which the Participation Rights Holders’ Right of Participation hereunder was not fully exercised) at the same or a higher price and upon non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. Notice In the event that the Company has not issued and sold such New Securities within such prescribed period, ninety (90) day period then the Company shall not thereafter issue or sell any New Securities without again first offering fifty percent (50%) of such New Securities to the Participation Rights Holders pursuant to this Section 4.