Common use of Partial Exercise of Right Clause in Contracts

Partial Exercise of Right. In the event the Company (or its assignees) makes a timely exercise of the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, Owner shall have the option, exercisable by written notice to the Company delivered within ninety (90) days after the date of the Disposition Notice, to effect the sale of the Target Shares pursuant to one of the following alternatives: (i) sale or other distribution of all the Target Shares to a third-party purchaser in compliance with the requirements of Section 3(d), as if the Company did not exercise the First Refusal Right hereunder; or (ii) sale to the Company (or its assignees) of the portion of the Target Shares which the Company (or its assignees) has elected to purchase, such sale to be effected in substantial conformity with the provisions of Section 3(c). Failure of Owner to deliver timely notification to the Company under this Section 3(e) shall be deemed to be an election by Owner to sell the Target Shares pursuant to alternative (ii) above.

Partial Exercise of Right. In the event the Company (or its assignees) makes a timely exercise of the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, the Owner shall have the option, exercisable by written notice to the Company delivered within ninety thirty (9030) days after the date of the Disposition Notice, to effect the sale of the Target Shares pursuant to one of the following alternatives: (ia) sale or other distribution disposition of all the Target Shares to a third-party purchaser in compliance with the requirements of Section 3(d)6.4, as if the Company did not exercise the First Refusal Right hereunder; or (iib) sale to the Company (or its assignees) of the portion of the Target Shares which the Company (or its assignees) has elected to purchase, such sale to be effected in substantial conformity with the provisions of Section 3(c)6.3. Failure of the Owner to deliver timely notification to the Company under this Section 3(e) 6.5 shall be deemed to be an election by the Owner to sell the Target Shares pursuant to alternative (iia) above.

Partial Exercise of Right. In the event the Company (or its ------------------------- assignees) makes a timely exercise of the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, the Owner shall have the option, exercisable by written notice to the Company delivered within ninety thirty (9030) days after the date of the Disposition Notice, to effect the sale of the Target Shares pursuant to one of the following alternatives: (ia) sale or other distribution disposition of all the Target Shares to a third-party purchaser in compliance with the requirements of Section 3(d)6.4, as if the Company did not exercise the First Refusal Right hereunder; or (iib) sale to the Company (or its assignees) of the portion of the Target Shares which the Company (or its assignees) has elected to purchase, such sale to be effected in substantial conformity with the provisions of Section 3(c)6.3. Failure of the Owner to deliver timely notification to the Company under this Section 3(e) 6.5 shall be deemed to be an election by the Owner to sell the Target Shares pursuant to alternative (iia) above.

Partial Exercise of Right. In the event the Company (or its ------------------------- assignees) makes a timely exercise of the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, the Owner shall have the option, exercisable by written notice to the Company delivered within ninety thirty (9030) days after the date of the Disposition Notice, to effect the sale of the Target Shares pursuant to one of the following alternatives: (ia) sale or other distribution disposition of all the Target Shares to a third-third- party purchaser in compliance with the requirements of Section 3(d)6.4, as if the Company did not exercise the First Refusal Right hereunder; or (iib) sale to the Company (or its assignees) of the portion of the Target Shares which the Company (or its assignees) has elected to purchase, such sale to be effected in substantial conformity with the provisions of Section 3(c)6.3. Failure of the Owner to deliver timely notification to the Company under this Section 3(e) 6.5 shall be deemed to be an election by the Owner to sell the Target Shares pursuant to alternative (iia) above.

Partial Exercise of Right. In the event the Company (or its ------------------------- assignees) makes a timely exercise of the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, the Owner shall have the option, exercisable by written notice to the Company delivered within ninety thirty (9030) days after the date receipt of the Disposition Exercise Notice, to effect the sale of the Target Shares pursuant to one of the following alternatives: (ia) sale or other distribution disposition of all the Target Shares to a third-party purchaser in compliance with the requirements of Section 3(d)6.4, as if the Company did not exercise the First Refusal Right hereunder; or (iib) sale to the Company (or its assignees) of the portion of the Target Shares which the Company (or its assignees) has elected to purchase, such sale to be effected in substantial conformity with the provisions of Section 3(c)6.3. Failure of the Owner to deliver timely notification to the Company under this Section 3(e) 6.5 shall be deemed to be an election by the Owner to sell the Target Shares pursuant to alternative (iia) above.

Partial Exercise of Right. In the event the Company Corporation (or its ------------------------- assignees) makes a timely exercise of the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, the Owner shall have the option, exercisable by written notice to the Company Corporation delivered within ninety twenty (9020) days after the date of the Disposition Notice, to effect the sale of the Target Shares pursuant to one of the following alternatives: (ia) sale Sale or other distribution disposition of all the Target Shares to a third-third- party purchaser in compliance with the requirements of Section 3(d)6.4, as if the Company Corporation did not exercise the First Refusal Right hereunder; or (iib) sale Sale to the Company Corporation (or its assignees) of the portion of the Target Shares which the Company Corporation (or its assignees) has or have elected to purchase, such sale to be effected in substantial conformity with the provisions of Section 3(c)6.3. Failure of Owner to deliver timely notification to the Company Corporation under this Section 3(e) 6.5 shall be deemed to be an election by Owner to sell the Target Shares pursuant to alternative (iib) above.

Partial Exercise of Right. In the event the Company Corporation (or its ------------------------- assignees) makes a timely exercise of the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, the Owner shall have the option, exercisable by written notice to the Company Corporation delivered within ninety twenty (9020) days after the date of the Disposition Notice, to effect the sale of the Target Shares pursuant to one of the following alternatives: (ia) sale Sale or other distribution disposition of all the Target Shares to a third-third- party purchaser in compliance with the requirements of Section 3(d)6.4, as if the Company Corporation did not exercise the First Refusal Right hereunder; or (iib) sale to the Company Corporation (or its assignees) of the portion of the Target Shares which the Company Corporation (or its assignees) has or have elected to purchase, such sale to be effected in substantial conformity with the provisions of Section 3(c)6.3. Failure of Owner to deliver timely notification to the Company Corporation under this Section 3(e) 6.5 shall be deemed to be an election by Owner to sell the Target Shares pursuant to alternative (iib) above.