IPO Call Rights Clause Samples

IPO Call Rights. If on or before December 31, 2002, an IPO could --------------- have been completed because the conditions set forth in Section 12.2 below have been satisfied, but such IPO was not completed solely because of a KFI Objection, then the Company or, at the election of KFI, the Company and/or KFI; shall have the right (referred to in this Agreement as an "IPO Call Right") to purchase all (but not less than all) of the Shares then owned by Idealab and/or Singh for the purchase price and on the other terms and conditions set forth below in this Article 12, and in the proportions designated by KFI. In order to exercise the IPO Call Right, the Company and/or KFI must deliver written notice of exercise to the Idealab and/or Singh, as applicable, on or before December 31,2003. If for any reason whatsoever the Company and/or KFI fail or neglect to exercise the IPO Call Right which exists on or before December 31, 2003, then the IPO Call Rights shall automatically expire and be of no further force or effect.