Lapse. The First Refusal Right under this Article VI shall lapse and cease to have effect upon the earliest to occur of (i) the first date on which shares of the Corporation's Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the Corporation's Board of Directors that a public market exists for the outstanding shares of the Corporation's Common Stock, or (iii) a firm commitment underwritten public offering pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Corporation's Common Stock in the aggregate amount of at least $5,000,000. However, the market stand-off provisions of paragraph 4.4 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder.
Appears in 7 contracts
Samples: Employment Agreement (Combichem Inc), Restricted Stock Issuance Agreement (Nanogen Inc), Series F Preferred Stock Purchase Agreement (Digirad Corp)
Lapse. The First Refusal Right under this Article VI shall lapse and cease to have effect upon the earliest EARLIEST to occur of (i) the first date on which shares of the Corporation's Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the Corporation's Board of Directors that a public market exists for the outstanding shares of the Corporation's Common Stock, or (iii) a firm commitment underwritten public offering pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Corporation's Common Stock in the aggregate amount of at least $5,000,000. However, the market stand-off provisions of paragraph 4.4 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder.
Appears in 4 contracts
Samples: Stock Purchase Agreement (Collateral Therapeutics Inc), Restricted Stock Issuance Agreement (Rubios Restaurants Inc), Restricted Stock Issuance Agreement (Rubios Restaurants Inc)
Lapse. The First Refusal Right under this Article VI shall lapse and cease to have effect upon the earliest EARLIEST to occur of (i) the first date on which shares of the Corporation's Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the Corporation's Board of Directors that a public market exists for the outstanding shares of the Corporation's Common Stock, or (iii) a firm commitment underwritten public offering pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Corporation's Common Stock in the aggregate amount of at least $5,000,00020,000,000. However, the market stand-off provisions of paragraph 4.4 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Rhythms Net Connections Inc), Stock Purchase Agreement (Rhythms Net Connections Inc)
Lapse. The First Refusal Right under this Article VI shall lapse and cease to have effect upon the earliest EARLIEST to occur of (i) the first date on which shares of the Corporation's Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the Corporation's Board of Directors that a public market exists for the outstanding shares of the Corporation's Common Stock, or (iii) a firm commitment underwritten public offering pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Corporation's Common Stock in the aggregate amount of at least $5,000,00010,000,000. However, the market stand-off provisions of paragraph 4.4 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder.
Appears in 2 contracts
Samples: Stock Issuance Agreement (Collateral Therapeutics Inc), Restricted Stock Issuance Agreement (Collateral Therapeutics Inc)
Lapse. The First Refusal Right under this Article VI shall lapse ----- and cease to have effect upon the earliest to occur of (i) the first date on -------- which shares of the Corporation's Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the Corporation's Board of Directors that a public market exists for the outstanding shares of the Corporation's Common Stock, or (iii) a firm commitment underwritten public offering pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Corporation's Common Stock in the aggregate amount of at least $5,000,000. However, the market stand-off provisions of paragraph 4.4 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Corsair Communications Inc), Stock Purchase Agreement (Corsair Communications Inc)
Lapse. The First Refusal Right under this Article VI Section 3.2 shall lapse and cease to have effect upon the earliest EARLIEST to occur of (i) the first date on which shares of the CorporationCompany's Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the CorporationCompany's Board of Directors that a public market exists for the outstanding shares of the CorporationCompany's Common Stock, or (iii) a firm commitment underwritten public offering pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the CorporationCompany's Common Stock in the aggregate amount of at least $5,000,00010,000,000. However, the market stand-off provisions of paragraph 4.4 Section 1.13 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder.
Appears in 1 contract
Samples: Investors' Rights Agreement (Collateral Therapeutics Inc)
Lapse. The First Refusal Right under this Article VI shall lapse and cease to have effect upon the earliest EARLIEST to occur of (i) the first date on which shares of the Corporation's ’s Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the Corporation's ’s Board of Directors that a public market exists for the outstanding shares of the Corporation's ’s Common Stock, Stock or (iii) a firm commitment underwritten public offering offering, pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Corporation's ’s Common Stock in the aggregate amount of at least $5,000,000. However, the market stand-off provisions of paragraph 4.4 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder.
Appears in 1 contract
Lapse. The First Refusal Right under this Article VI shall lapse and cease to have effect upon the earliest to occur of (i) the first date on which shares of the Corporation's Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the Corporation's Board of Directors that a public market exists for the outstanding shares of the Corporation's Common Stock, or (iii) a firm commitment underwritten public offering pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Corporation's Common Stock in the aggregate amount of at least $5,000,0005.000,000. However, the market stand-off provisions of paragraph 4.4 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder.
Appears in 1 contract
Samples: Stock Purchase Agreement (Discovery Partners International Inc)
Lapse. The First Refusal Right under this Article VI shall lapse and cease to have effect upon the earliest EARLIEST to occur of (i) the first date on which shares of the Corporation's Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the Corporation's Board of Directors that a public market exists for the outstanding shares of the Corporation's Common Stock, or (iii) a firm commitment underwritten public offering pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Corporation's Common Stock in the aggregate amount of at least $5,000,000. However, the market stand-off provisions of paragraph 4.4 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder. VII.
Appears in 1 contract
Samples: Stock Purchase Agreement (Netscape Communications Corp)
Lapse. The First Refusal Right under this Article VI shall lapse and cease to have effect upon the earliest EARLIEST to occur of (i) the first date on which shares of the Corporation's Common Stock are held of record by more than five hundred (500) persons, (ii) a determination is made by the Corporation's Board of Directors that a public market exists for the outstanding shares of the Corporation's Common Stock, Stock or (iii) a firm commitment underwritten public offering offering, pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Corporation's Common Stock in the aggregate amount of at least $5,000,000. However, the market stand-off provisions of paragraph 4.4 shall continue to remain in full force and effect following the lapse of the First Refusal Right hereunder.
Appears in 1 contract
