Common use of Failure to Exercise Clause in Contracts

Failure to Exercise. Upon the expiration of the Participation Period, the Company shall have ninety (90) days thereafter to complete the sale of the New Securities described in the Participation Notice with respect to which the Preemptive Rights hereunder were not exercised at the same or higher price and upon non-price terms not more favorable to the purchasers thereof than specified in the Participation Notice. In the event that the Company has not issued and sold such New Securities within such 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 Rights Holders pursuant to this Section 7.

Failure to Exercise. Upon the expiration of the Participation Period (or the Extended Participation Period, as applicable), the Company shall have ninety (90) days thereafter to complete the sale of the New Securities described in the Participation Notice with respect to which the Preemptive Rights hereunder were not exercised at the same or higher price and upon non-price terms not more favorable to the purchasers thereof than specified in the Participation Notice. In the event that the Company has not issued and sold such New Securities within such 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 Rights Holders pursuant to this Section 7.

Failure to Exercise. Upon the expiration of the Participation Period, the Company shall have ninety (90) days thereafter to complete the sale of sell the New Securities described in the Participation Notice (with respect to which the Preemptive Rights hereunder were Right of Participation was not exercised 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 Participation Notice. In the event that the Company has not issued and sold such New Securities within such ninety (90) day days period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Rights Holders Investors pursuant to this Section 73.

Failure to Exercise. Upon the expiration of the Second Participation Period, the Company shall have ninety (90) days thereafter to complete the sale of sell the New Securities described in the First Participation Notice (with respect to which the Preemptive Rights Right hereunder were not exercised exercised) at the same or 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 ninety ninety- (9090-) 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 7.Article V.

Failure to Exercise. Upon the expiration of the Participation Periodsuch ten (10) day period, the Company shall have ninety (90) 120 days thereafter to complete the sale of sell the New Securities described in the Participation Notice (with respect to which the Preemptive Participation Rights Holders' rights of first refusal hereunder were not exercised exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the Participation Notice. In the event that the Company has not issued and sold such New Securities within such ninety (90) 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 73.

Failure to Exercise. Upon the expiration of the Participation Periodsuch ten (10) day period, the Company shall have ninety (90) 120 days thereafter to complete the sale of sell the New Securities described in the Participation Notice (with respect to which the Preemptive Participation Rights Holders' rights of first refusal hereunder were not exercised exercised), or enter into an agreement to do so, within sixty (60) days thereafter, at no less than ninety-five percent (95%) of the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the Participation Notice. In the event that the Company has not issued and sold such New Securities within such ninety (90) 120 day period, or entered into an agreement to do so within sixty (60) days thereafter, 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 73.

Failure to Exercise. Upon the expiration of the Second Participation Period, or in the event no Eligible Investor fully exercises the Preemptive Rights within ten (10) Business Days following the issuance of the First Participation Notice, the Company shall have ninety (90) days thereafter to complete the sale of the New Securities described in the First Participation Notice with respect to which the Preemptive Rights hereunder were not exercised at the same or 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 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 Rights Holders Eligible Investors pursuant to this Section 7.

Failure to Exercise. Upon the expiration of the Participation Periodsuch five business day period, the Company shall have ninety (90) 90 days thereafter thereafter, subject to complete the sale of extensions for regulatory compliance, to sell the New Securities described in the Participation Notice (with respect to which the Preemptive Participation Rights Holders' rights of first refusal hereunder were not exercised exercised) at the same price (or a higher price price) and upon non-price terms not materially more favorable to the purchasers thereof than specified in the Participation Notice. In the event that If the Company has not issued and sold such New Securities within such 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 77(e).

Failure to Exercise. Upon the expiration of the Participation Periodsuch ten (10) day period, ------------------- the Company shall have ninety (90) 60 days thereafter to complete the sale of sell the New Securities described in the Participation Notice (with respect to which the Preemptive Participation Rights Holders' rights of first refusal hereunder were not exercised exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the Participation Notice. In the event that the Company has not issued and sold such New Securities within such ninety (90) 60 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 73.

Failure to Exercise. Upon the expiration of the Participation Periodsuch ten (10) day period, the Company shall have ninety (90) 120 days thereafter to complete the sale of sell the New Securities described in the Participation Notice (with respect to which the Preemptive Participation Rights Holders' rights of first refusal hereunder were not exercised exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the Participation Notice. In the event that the Company has not issued and sold such New Securities within such ninety (90) 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 74.

Failure to Exercise. Upon the expiration of the Participation Period, the Company shall have ninety (90) days thereafter to complete the sale of the New Securities described in the Participation Notice with respect to which the Preemptive Pre-emptive Rights hereunder were not exercised at the same or higher price and upon non-the same non price terms not more favorable to the purchasers thereof than specified in the Participation Notice. In the event that the Company has not issued and sold such New Securities within such ninety (90) day period, then the Company shall not thereafter issue or sell allot any New Securities without again first offering such New Securities to the Rights Holders Shareholders pursuant to this Section 7Clause 3.1.

Failure to Exercise. Upon the expiration of the Participation Periodsuch ten (10) day period, the Company shall have ninety (90) 120 days thereafter to complete the sale of sell the New Securities described in the Participation Notice (with respect to which the Preemptive Participation Rights Holders' rights of first refusal hereunder were not exercised exercised), or enter into an agreement to do so, within sixty (60) days thereafter, at no less than one-hundred percent (100%) of the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the Participation Notice. In the event that the Company has not issued and sold such New Securities within such ninety (90) 120 day period, or entered into an agreement to do so within sixty (60) days thereafter, 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 73.

Failure to Exercise. Upon the expiration of the Participation Period, the Company shall have ninety one hundred and twenty (90120) days thereafter to complete the sale of sell the New Securities described in the Participation Notice (with respect to which the Preemptive Rights Right of Participation hereunder were was not exercised exercised) at the same or higher price and upon non-price terms not more favorable to the purchasers thereof than specified in the Participation Notice. In the event that the Company has not issued and sold such New Securities within such ninety one hundred and twenty (90120) 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 73.

Failure to Exercise. Upon the expiration of the Participation Periodsuch ten business day period, the Company shall have ninety (90) 90 days thereafter thereafter, subject to complete the sale of extensions for regulatory compliance, to sell the New Securities described in the Participation Notice (with respect to which the Preemptive Participation Rights Holders' rights of first refusal hereunder were not exercised exercised) at the same price (or a higher price price) and upon non-price terms not materially more favorable to the purchasers thereof than specified in the Participation Notice. In the event that If the Company has not issued and sold such New Securities within such 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 77(e).