Future Sales of Securities. Purchaser will have no right of first refusal, right of participation or other rights with respect to any future offers or sales of Ordinary Shares, ADSs or other securities by the Company. Purchaser further acknowledges that, following the Offering, the Company may offer or sell other securities, including but not limited to the issuance or grant of (a) Ordinary Shares or ADSs upon the exercise of currently outstanding warrants or options, (b) options or other securities under the Company’s current or future incentive compensation plans, (c) bonds, debentures, long term promissory notes or other debt securities and (d) options, warrants or other equity derivative securities to lenders providing debt financing to the Company.
Future Sales of Securities. If 399 Venture shall propose the sale of additional debt or equity securities by the Company to any Person and the Board of Directors should fail to approve such sale, such sale, the terms and issuance of such securities, and the use of proceeds may be approved by the vote of the holders of a majority of the outstanding Class A Common Stock, such vote to be taken upon ten days' written notice to the holders of the Class A Common Stock. To the extent that the Company uses the proceeds of such sale to repurchase any of its equity securities, each holder of such securities may, with respect to such repurchase, exercise the Tag-Along Right set forth in Section 5.8, pursuant to the procedures set forth in Section 5.8(b), and any additional tag-along rights which such holder may have. If any such holder does not exercise his or its Tag-Along Right in full, 399 Venture shall have right to assume such right with respect to the number of unpurchased shares.
Future Sales of Securities. Purchasers will have no right of first refusal, right of participation or other rights with respect to any future offers or sales of Ordinary Shares, ADSs or other securities by the Company, provided, however, the parties acknowledge the Company’s intent to commence a rights offering immediately following the Closing by which holders of Ordinary Shares and ADSs will be offered the right to purchase a number of the same securities as are sold in the Offering, at the same price and on substantially identical terms as the Offering, in proportion to the Ordinary Shares held at the time of that rights issue. Purchasers further acknowledge that, following the Offering, the Company may offer or sell other securities, including but not limited to the issuance or grant of (a) Ordinary Shares or ADSs upon the exercise of currently outstanding warrants or options, (b) options or other securities under the Company’s current or future incentive compensation plans, (c) bonds, debentures, long term promissory notes or other debt securities and (d) options, warrants or other equity derivative securities to lenders providing debt financing to the Company.
