Common use of First Participation Notice Clause in Contracts

First Participation Notice. In the event that the Company proposes to undertake an issuance of New Securities (in a single transaction or a series of related transactions), It shall give to each Participation Rights Holder written notice of its intention to issue New Securities (the “First Participation Notice”), describing the amount and the type of New Securities and the price and the terms upon which the Company proposes to issue such New Securities Each Participation Rights Holder shall have thirty (30) days from the date of receipt of any such First Participation Notice to agree in writing to purchase up to all of such Participation Rights Holder’s Pro Rata Share of fifty percent (50%) of such New Securities for the price and upon the terms and conditions specified in the First Participation Notice by giving written notice to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share of fifty percent (50%) of such New Securities). If any Participation Rights Holder falls to so agree in writing within such thirty (30) day period to purchase such Participation Rights Holder’s full Pro Rata Share of an offering of fifty percent (50%) such New Securities, then such Participation Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of fifty percent (50%) of such New Securities that it did not so agree to purchase.

First Participation Notice. In the event that the Company proposes to undertake an issuance of New Securities (in a single transaction or a series of related transactions), It it shall give to each Participation Rights Holder written notice of its intention to issue New Securities (the “First Participation Notice”)) at least thirty (30) days prior to such issuance, describing the amount and the type of New Securities and Securities, the price and the general terms upon which the Company proposes to issue such New Securities Securities. Each Participation Rights Holder shall have thirty fifteen (3015) days from the date of receipt of any such First Participation Notice (the “First Participation Period”) to agree in writing to purchase up to all of such Participation Rights Holder’s Pro Rata Share of fifty percent (50%) of such New Securities for the price and upon the terms and conditions specified in the First Participation Notice by giving written notice to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share of fifty percent (50%) of such New SecuritiesShare). If any Participation Rights Holder falls fails to so agree in writing within such thirty fifteen (3015) day days period to purchase such Participation Rights Holder’s full Pro Rata Share of an offering of fifty percent (50%) such New Securities, then such Participation Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of fifty percent (50%) of such New Securities that it did not so agree to purchase.

First Participation Notice. In the event that the Company proposes to undertake an issuance of New Securities (in a single transaction or a series of related transactions), It it shall give to each Participation Preemptive Rights Holder written notice of its intention to issue New Securities (the “First Participation Notice”), describing the amount and the type of New Securities and Securities, the price and the general terms upon which the Company proposes to issue such New Securities Securities. Each Participation Preemptive Rights Holder shall have thirty (30) days Business Days from the date of receipt of any such First Participation Notice to agree in writing to purchase up to all of such Participation Preemptive Rights Holder’s Pro Rata Share of fifty percent (50%) of such New Securities for the price and upon the terms and conditions specified in the First Participation Notice by giving written notice to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Participation Preemptive Rights Holder’s Pro Rata Share of fifty percent Share). Such notice may be made by telephone if confirmed in writing within five (50%5) of such New Securities)Business Days. If any Participation Preemptive Rights Holder falls fails to so agree respond in writing within such thirty (30) day Business Day period to purchase such Participation Preemptive Rights Holder’s full Pro Rata Share of an offering of fifty percent (50%) such New Securities, then such Participation Preemptive Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of fifty percent (50%) of such New Securities that it did not so agree to purchase, but shall not be deemed to forfeit any right with respect to any other issuance of New Securities.

First Participation Notice. In the event that the Company proposes to undertake an issuance of New Securities (in a single transaction or a series of related transactions), It it shall give to each Participation Rights Holder written notice of its intention to issue New Securities (the “First Participation Notice”), describing the amount and the type of New Securities and the price and the terms upon which the Company proposes to issue such New Securities Securities. Each Participation Rights Holder shall have thirty (30) days from the date of receipt of any such First Participation Notice to agree in writing to purchase up to all of such Participation Rights Holder’s Pro Rata Share of fifty percent (50%) of such New Securities for the price and upon the terms and conditions specified in the First Participation Notice by giving written notice to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share of fifty percent (50%) of such New Securities). If any Participation Rights Holder falls fails to so agree in writing within such thirty (30) day period to purchase such Participation Rights Holder’s full Pro Rata Share of an offering of fifty percent (50%) of such New Securities, then such Participation Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of fifty percent (50%) of such New Securities that it did not so agree to purchase.

First Participation Notice. In the event that the Company proposes to undertake an issuance of issue New Securities (in a single transaction or a series of related transactions), It it shall give deliver to each Participation Rights Holder a written notice of its intention to issue New Securities (the “First Participation Notice”) at least twenty (20) Business Days prior to the proposed issue date of the New Securities (or such shorter period mutually agreed upon by the Company and such Participation Rights Holder), describing the identity of the proposed transferee, the amount and the type of New Securities and Securities, the price and the general terms and conditions upon which the Company proposes to issue such New Securities Securities. Each Participation Rights Holder shall have thirty twenty (3020) days from Business Days after the date of receipt of any such the First Participation Notice (the “First Participation Period”) to agree in writing to purchase up to all of such Participation Rights Holder’s Pro Rata Share of fifty percent (50%) of such New Securities for the price and upon under the terms and conditions specified in the First Participation Notice by giving delivering a written notice to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share of fifty percent (50%) of such New SecuritiesShare). If any Participation Rights Holder falls fails to so agree in writing within such thirty twenty (3020) day period to purchase such Participation Rights Holder’s full Pro Rata Share of an offering of fifty percent (50%) such New SecuritiesBusiness Day period, then such Participation Rights Holder shall forfeit the right be deemed to have forfeited its Right of Participation hereunder to purchase that part of its Pro Rata Share of fifty percent (50%) of such New Securities that it did Securities, but shall not so agree be deemed to purchaseforfeit any right with respect to any other issuance of New Securities.