Common use of Lapse and Reinstatement of Right Clause in Contracts

Lapse and Reinstatement of Right. In the event a Purchaser fails to exercise the right of participation provided in this Section 2.1 within said twenty (20) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser fails to exercise the right of participation provided in this Section 2.1 within said twenty (20) day period, the The Company shall have ninety (90) days thereafter following the twenty (20) day period described in Section 2.1(b) to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty thirty (6030) days from the date of said agreement) to sell the New Securities with respect to which the Eligible Investors’ right of first refusal was not elected to be purchased by such Purchaser exercised, at the a price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty thirty (6030) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Eligible Investors in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser fails the Investors fail to exercise the right of participation first offer provided in this Section 2.1 for all the New Securities proposed to be sold by the Company within said twenty fifteen (2015) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser Investors at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Investors in the manner provided aboveunder this Section 2.1.

Lapse and Reinstatement of Right. In the event a Purchaser RFO Holder fails to exercise the right Right of participation First Offer provided in this Section 2.1 within said twenty (20) day period3 in the manner provided above, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser RFO Holder at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers RFO Holder in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser an Investor fails to exercise the right Right of participation First Offer provided in this Section 2.1 within said twenty (20) day period2 in the manner provided above, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser Investor at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Investor in the manner provided above.

Lapse and Reinstatement of Right. In The Company shall have sixty (60) days following the event a Purchaser fails to exercise the right of participation provided in this Section 2.1 within said twenty (20) day period, the Company shall have ninety (90period described in Section 7.2(b) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty thirty (6030) days from the date of said agreement) to sell the New Securities with respect to which the Eligible Holders’ preemptive right was not elected to be purchased by such Purchaser exercised, at the a price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety sixty (9060) day period (or sold and issued New Securities in accordance with the foregoing within sixty thirty (6030) days from the date of said agreement), the Company shall not thereafter issue or sell any such New Securities without first offering such securities to the Purchasers Eligible Holders in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser fails -------------------------------- to exercise the right of participation provided in this Section 2.1 within said twenty (20) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser fails to exercise the right of participation provided in this Section 2.1 within said twenty (20) day period, the The Company shall have ninety sixty (9060) days thereafter following the twenty- (20-) day period described in Section 2.1(b) and the additional ten- (10-) day period described in Section 2.1(c) to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty thirty (6030) days from the date of said agreement) to sell the New Securities with respect to which the Major Holder’s right of first refusal was not elected to be purchased by such Purchaser exercised, at the a price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety sixty- (9060-) day period (or sold and issued New Securities in accordance with the foregoing within sixty thirty (6030) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Investors in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser the holder fails to exercise the right of participation first refusal provided in this Section 2.1 SECTION 16 within said twenty fifteen (2015) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser the holder at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers holder in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser fails to exercise the right of participation provided in this Section 2.1 within said twenty (20) day period, the The Company shall have ninety sixty (9060) days thereafter following the twenty- (20-) day period described in Section 2.1(b) and the additional ten- (10-) day period described in Section 2.1(c) to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty thirty (6030) days from the date of said agreement) to sell the New Securities with respect to which the Major Investors’ right of first refusal was not elected to be purchased by such Purchaser exercised, at the a price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety sixty- (9060-) day period (or sold and issued New Securities in accordance with the foregoing within sixty thirty (6030) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Major Investors in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser an Investor fails to exercise the right of participation first offer provided in this Section 2.1 within said twenty fifteen (2015) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser Investor at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers each Investor in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser fails to exercise the right of participation provided in this Section 2.1 within said twenty fifteen (2015) day period, the Company shall have ninety sixty (9060) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty thirty (6030) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety sixty (9060) day period (or sold and issued New Securities in accordance with the foregoing within sixty thirty (6030) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Purchaser in the manner provided above.

Lapse and Reinstatement of Right. In The Company shall have sixty (60) days following the event a Purchaser fails to exercise the right of participation provided in this Section 2.1 within said twenty twenty- (2020-) or thirty- (30-) day period, the Company shall have ninety (90as applicable, described in Section 2.1(b) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty thirty (6030) days from the date of said agreement) to sell the New Securities with respect to which the Major Investors’ right of first refusal was not elected to be purchased by such Purchaser exercised, at the a price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety sixty- (9060-) day period (or sold and issued New Securities in accordance with the foregoing within sixty thirty (6030) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Major Investors in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser that [2] or an Investor fails to exercise the right of participation first offer provided in this Section 2.1 within said twenty thirty (2030) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by [2] or such Purchaser Investor at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to [2] and the Purchasers Investors in the manner provided above.

Lapse and Reinstatement of Right. In the event a Major Purchaser -------------------------------- fails to exercise the right of participation provided in this Section 2.1 3.1 within said twenty (20) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Major Purchaser at the price and upon the terms no more favorable to the purchasers Major Purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Major Purchasers in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser an Investor fails to -------------------------------- exercise the right of participation first refusal provided in this Section 2.1 within said twenty fifteen (2015) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser Investor at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities described in the notice or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued the New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers each Investor in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser an Investor fails to exercise the right of participation first offer provided in this Section 2.1 within said twenty fifteen (2015) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser Investor at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days 14 from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Investors in the manner provided above.

Lapse and Reinstatement of Right. In The Company shall have sixty (60) days following the event a Purchaser fails to exercise the right of participation provided in this Section 2.1 within said twenty (20) day period, period described in Section 2.1(b) and the Company shall have ninety additional ten (9010) days thereafter day period described in Section 2.1(c) to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty thirty (6030) days from the date of said agreement) to sell the New Securities with respect to which the Series C Holders' right of first refusal was not elected to be purchased by such Purchaser exercised, at the a price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety sixty (9060) day period (or sold and issued New Securities in accordance with the foregoing within sixty thirty (6030) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Series C Holders in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser an Investor fails -------------------------------- to exercise the right of participation first offer provided in this Section 2.1 within said twenty fifteen (2015) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser Investor at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Investors in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser fails the Investors fail to exercise elect to purchase all of the right of participation provided in this Section 2.1 New Securities offered by the Company within said twenty the foregoing notice periods (20) day periodor if all Investors waive their rights to purchase such New Securities), the Company shall have ninety sixty (9060) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty thirty (6030) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser the Investors at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety sixty (9060) day period (or sold and issued New Securities in accordance with the foregoing within sixty thirty (6030) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Investors in the manner provided above.

Lapse and Reinstatement of Right. In the event a Major Purchaser fails to exercise the right of participation provided in this Section 2.1 2.6 within said twenty fifteen (2015) day period, the Company shall have ninety (90) calendar days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty thirty (6030) calendar days from the date of said agreement) to sell the New Securities not elected to be purchased by such Major Purchaser at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice’s notice to the Major Purchasers. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty thirty (6030) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Major Purchasers in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser RFO Holder fails to exercise the right Right of participation First Offer provided in this Section 2.1 within said twenty (20) day period2 in the manner provided above, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser RFO Holder at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers RFO Holder in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser Preemptive Right Holder fails to exercise the right of participation first offer provided in this Section 2.1 2 within said twenty fifteen (2015) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser Preemptive Right Holder at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's ’s notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Preemptive Right Holder in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser fails -------------------------------- to exercise the right of participation provided in this Section 2.1 within said twenty (20) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser the Company -------------------------------- fails to exercise the right of participation provided in this Section 2.1 first refusal within said twenty fifteen (2015) day period, the Company Investor shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities shares covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities shares not elected to be purchased by such Purchaser the Company at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's noticeTransfer Notice. In the event the Company Investor has not sold the New Securities shares or entered into an agreement to sell the New Securities shares within said ninety (90) day period (or sold and issued New Securities the shares in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company Investor shall not thereafter issue sell or sell transfer any New Restricted Securities without first offering such securities to the Purchasers Company in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser fails to exercise the right of participation provided in this Section 2.1 Exhibit B within said twenty (20) day period, the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser an Investor -------------------------------- fails to exercise the right of participation first refusal provided in this Section 2.1 within said twenty (20) day periodthe period specified in Section 2.1(c), the Company shall have ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser Investor at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Investors in the manner provided above.

Lapse and Reinstatement of Right. In the event a Purchaser the Investor fails to exercise the right of participation first refusal provided in this Section 2.1 within said twenty (20the period specified in 2.1(c) day periodand 2.1(d), the Company shall have ninety forty-five (9045) days thereafter to sell or enter into an agreement with the purchaser thereof (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty forty-five (6045) days from the date of said agreement) to sell the New Securities not elected to be purchased by such Purchaser the Investor at the price and upon the terms no more favorable to the purchasers of such securities than specified in the Company's notice. In the event the Company has not sold the New Securities or entered into such an agreement to sell the New Securities within said ninety forty-five (9045) day period (or sold and issued New Securities in accordance with the foregoing within sixty forty-five (6045) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Purchasers Investor in the manner provided above.