Common use of First Participation Notice Clause in Contracts

First Participation Notice. In the event that the Company proposes to undertake an issuance of any 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 such New Securities (the “First Participation Notice”), describing the amount and class of the New Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each Participation Rights Holder shall have fifteen (15) days from the date of receipt of any such First Participation Notice (the “First Participation Period”) to agree on behalf of itself or its Affiliates in writing to purchase such Participation Rights Holder’s Pro Rata Share 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 the New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share). If any Participation Rights Holder fails to so agree in writing within the First Participation Period to purchase such Participation Rights Holder’s full Pro Rata Share of an offering of such New Securities, then such Participation Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of such New Securities that it did not agree to purchase.

First Participation Notice. In the event that the Company proposes to undertake an issuance of any New Securities (in a single transaction or a series of related transactions), it shall give to each Participation Preemptive Rights Holder a written notice of its intention to issue such New Securities (the “First Participation Notice”), describing the amount and class type of the New Securities, Securities and the price and the general terms upon which the Company proposes to issue such New Securities. Each Participation Preemptive Rights Holder shall have fifteen (15) days Business Days from the date of receipt delivery of any such First Participation Notice (the “First Participation Period”) to such Preemptive Rights Holder to agree on behalf of itself or its Affiliates in writing to purchase subscribe up to such Participation Preemptive Rights Holder’s Preemptive Pro Rata Share Portion 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 the New Securities to be purchased subscribed (not to exceed such Participation Rights HolderShareholder’s Preemptive Pro Rata SharePortion). If any Participation Preemptive Rights Holder fails to so agree respond in writing within such fifteen (15)-Business-Day period, then such Preemptive Rights Holder shall be forfeited the First Participation Period right hereunder to purchase such Participation Rights Holder’s full subscribe its Preemptive Pro Rata Share of an offering Portion of such New Securities, then but such Participation Rights Holder failure shall not be deemed to forfeit the any right hereunder with respect to purchase that part any other issuance of its Pro Rata Share of such New Securities that it did not agree to purchaseSecurities.

First Participation Notice. In the event that the Company proposes to undertake an issuance of any New Securities (in a single transaction or a series of related transactions), it shall give to each Participation Preemptive Rights Holder a written notice of its intention to issue such New Securities (the “First Participation Notice”), describing the amount and class type of the New Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each Participation Preemptive Rights Holder shall have fifteen thirty (1530) days from the date of receipt of any such First Participation Notice (the “First Participation Period”) to agree on behalf of itself or its Affiliates in writing to purchase up to such Participation Preemptive Rights Holder’s Pro Rata Share of such New Securities for the price and upon the terms and conditions specified in the First Participation Notice by giving a written notice to the Company and stating therein the quantity of the New Securities to be purchased (not to exceed such Participation Preemptive Rights Holder’s Pro Rata Share). If any Participation Preemptive Rights Holder fails to so agree respond in writing within the First Participation Period to purchase such Participation Rights Holder’s full Pro Rata Share of an offering of such New SecuritiesPeriod, then such Participation Preemptive Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of such New Securities that it did Securities, but shall not agree be deemed to purchaseforfeit 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 any New Securities (in a single transaction or a series of related transactions), it shall give to each Participation Preemptive Rights Holder written notice of its intention to issue such New Securities (the “First Participation Notice”), describing the amount and class type of the New Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each Participation Preemptive Rights Holder shall have fifteen thirty (1530) days from the date of receipt of any such First Participation Notice (the “First Participation Period”) to agree on behalf of itself or its Affiliates in writing to purchase up to such Participation Preemptive Rights Holder’s Pro Rata Share 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 the New Securities to be purchased (not to exceed such Participation Preemptive Rights Holder’s Pro Rata ShareShare of such New Securities). If any Participation Preemptive Rights Holder fails to so agree respond in writing within the First Participation Period to purchase such Participation Rights Holder’s full Pro Rata Share of an offering of such New Securitiesthirty- (30-) day period, then such Participation Preemptive Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of such New Securities that it did Securities, but shall not agree be deemed to purchaseforfeit 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 any New Securities (in a single transaction or a series of related transactions), it shall give to each Participation Rights Initial Holder (if such Initial Holder holds any Notes at such time) written notice of its intention to issue such New Securities (the “First Participation Notice”), describing the amount and class type of the New Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each Participation Rights such Initial Holder shall have fifteen (15) days five Business Days from the date of receipt of any such First Participation Notice (the “First Participation Period”) to agree on behalf of itself or its Affiliates in writing to purchase up to such Participation Rights Initial Holder’s Pro Rata Share 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 the New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share). If any Participation Rights such Initial Holder fails to so agree respond in writing within the First Participation Period such five Business Day period to purchase such Participation Rights Initial Holder’s full Pro Rata Share of an offering of such New Securities, then such Participation Rights Initial Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of such New Securities that it did not agree to purchase, but shall not be deemed to forfeit any right with respect to any future or other issuance of New Securities.