Common use of Issuances Not Subject to Participation Rights Clause in Contracts

Issuances Not Subject to Participation Rights. The following Issuances will not give rise to a Participation Right: (a) Issuances for compensatory purposes to directors, officers, employees of or consultants to the Company and its Affiliates pursuant to a security-based compensation plan of the Company that complies with the requirements of the Exchange; (b) pursuant to the exercise of convertible securities of the Company issued in an Offering in respect of which the Investor had a Participation Right or that have been issued and granted as of the date hereof; or (c) pursuant to any plan of arrangement, merger, business combination, take-over bid or other acquisition of a third party.

Issuances Not Subject to Participation Rights. ‌ The following Issuances will not give rise to a Participation Right: (a) Issuances for compensatory purposes to directors, officers, employees of or consultants to the Company and its Affiliates pursuant to a security-based compensation plan of the Company that complies with the requirements of the Exchange; (b) pursuant to the exercise of convertible securities of the Company issued in an Offering in respect of which the Investor had a Participation Right or that have been issued and granted as of the date hereof; or (c) pursuant to any plan of arrangement, merger, business combination, take-over bid or other acquisition of a third party.