Common use of Lapse Clause in Contracts

Lapse. The Special Purchase Right under this Article VIII shall lapse and cease to have effect upon the EARLIER to occur of (i) the first date on which the First Refusal Right under Article VI lapses or (ii) the expiration of the thirty (30)-day exercise period specified in paragraph 8.3, to the extent the Special Purchase Right is not timely exercised in accordance with such paragraph.

Appears in 9 contracts

Samples: Stock Purchase Agreement (Tellabs Inc), Stock Purchase Agreement (Rhythms Net Connections Inc), Stock Purchase Agreement (Rubios Restaurants Inc)

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Lapse. The Special Purchase Right under this Article VIII shall lapse and cease to have effect upon the EARLIER earlier to occur of (i) the first date on which the First Refusal Right under Article VI lapses or (ii) the expiration of the thirty (30)-day exercise period specified in paragraph 8.3, to the extent the Special Purchase Right is not timely exercised in accordance with such paragraph.

Appears in 9 contracts

Samples: Employment Agreement (Combichem Inc), Restricted Stock Issuance Agreement (Nanogen Inc), Series F Preferred Stock Purchase Agreement (Digirad Corp)

Lapse. The Special Purchase Right under this Article VIII shall ----- lapse and cease to have effect upon the EARLIER earlier to occur of (i) the first date ------- on which the First Refusal Right under Article VI lapses or (ii) the expiration of the thirty (30)-day exercise period specified in paragraph 8.3, to the extent the Special Purchase Right is not timely exercised in accordance with such paragraph.

Appears in 1 contract

Samples: Stock Purchase Agreement (Corsair Communications Inc)

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Lapse. The Special Purchase Right under this Article VIII shall lapse and cease to have effect upon the EARLIER earlier to occur of (i) the first date ------- on which the First Refusal Right under Article VI lapses or (ii) the expiration of the thirty (30)-day exercise period specified in paragraph 8.3, to the extent the Special Purchase Right is not timely exercised in accordance with such paragraph.

Appears in 1 contract

Samples: Stock Purchase Agreement (Corsair Communications Inc)

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