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 its first refusal rights hereunder with respect to a portion, but not all, of the Target Shares specified in the Optionee's notice of intended disposition, the Optionee shall have the option, exercisable by written notice to the Company delivered within sixty (60) days after the date of the initial notice of intended disposition, to effect the sale of the Target Shares pursuant to one of the following alternatives: (A) sale or other disposition of all the Target Shares to a third-party purchaser in compliance with the requirements of Paragraph 8(b)(iv), as if the Company did not exercise its first refusal rights hereunder; or (B) 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 Paragraph 8(b)(iii), and, at the option of Optionee, sale of the remaining portion of the Target Shares to a third-party purchaser in compliance with Paragraph 8(b)(iv). Failure of the Optionee to deliver timely notification to the Company under this Paragraph 8(b)(vi) shall be deemed to be an election by the Optionee to sell the Target Shares pursuant to alternative (B) above.

Partial Exercise of Right. In the event the Company (or its assignees) makes a timely exercise of its first refusal rights hereunder the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Optionee's notice of intended disposition, the Optionee Owner shall have the option, exercisable by written notice to the Company delivered within sixty ninety (6090) days after the date of the initial notice of intended dispositionDisposition Notice, to effect affect the sale of the Target Shares pursuant to one of the following alternatives: (Ai) sale or other disposition distribution of all the Target Shares to a third-party purchaser in compliance with the requirements of Paragraph 8(b)(iv)Section 8(d) above, as if the Company did not exercise its first refusal rights the First Refusal Right hereunder; or (Bii) 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 Paragraph 8(b)(iii), and, at the option of Optionee, sale of the remaining portion of the Target Shares to a third-party purchaser in compliance with Paragraph 8(b)(iv)Section 8(c) above. Failure of the Optionee Owner to deliver timely notification to the Company under this Paragraph 8(b)(viSection 8(e) shall be deemed to be an election by the Optionee Owner to sell the Target Shares pursuant to alternative (Bii) above.,

Partial Exercise of Right. In the event the Company (or its assignees) makes and/or the Purchasing Shareholders make a timely exercise of its first refusal rights hereunder with respect to a portion, but not all, of the Target Shares specified in the Optionee's notice of intended disposition, the Optionee shall have the option, exercisable by written notice to the Company delivered within sixty (60) days after the date of the initial notice of intended disposition, to effect the sale of the Target Shares pursuant to one of the following alternatives: (Ai) sale or other disposition of all the Target Shares to a third-party purchaser in compliance with the requirements of Paragraph 8(b)(ivSection 8(a), as if the Company and/or the Purchasing Shareholders did not exercise its their respective first refusal rights hereunder; or (Bii) sale to the Company (or its assignees) and/or the Purchasing Shareholders of the portion of the Target Shares which the Company (or its assignees) has and/or the Purchasing Shareholders have elected to purchase, such sale to be effected in substantial conformity with the provisions of Paragraph 8(b)(iiiSections 8(c), (d) and (e) and, at the option of Optionee, sale of the remaining portion of the Target Shares to a third-party purchaser in compliance with Paragraph 8(b)(ivSection 8(f). Failure of the Optionee to deliver timely notification to the Company under this Paragraph 8(b)(viSection 8(h) shall be deemed to be an election by the Optionee to sell the Target Shares pursuant to alternative (Bi) above.

Partial Exercise of Right. In the event the Company (or its assignees) makes and/or the Purchasing Shareholders make a timely exercise of its first refusal rights hereunder with respect to a portion, but not all, of the Target Shares specified in the Optionee's notice of intended disposition, the Optionee optionee shall have the option, exercisable by written notice to the Company delivered within sixty (60) days after the date of the initial notice of intended disposition, to effect the sale of the Target Shares pursuant to one of the following alternatives: (Ai) sale or other disposition of all the Target Shares to a third-party purchaser in compliance with the requirements of Paragraph 8(b)(ivSection 8(a), as if the Company and/or the Purchasing Shareholders did not exercise its their respective first refusal rights hereunder; or (Bii) sale to the Company (or its assignees) and/or the Purchasing Shareholders of the portion of the Target Shares which the Company (or its assignees) has and/or the Purchasing Shareholders have elected to purchase, such sale to be effected in substantial conformity with the provisions of Paragraph 8(b)(iiiSections 8(c), (d) and (e) and, at the option of Optionee, sale of the remaining portion of the Target Shares to a third-party purchaser in compliance with Paragraph 8(b)(ivSection 8(f). Failure of the Optionee to deliver timely notification to the Company under this Paragraph 8(b)(viSection 8(h) shall be deemed to be an election by the Optionee to sell the Target Shares pursuant to alternative (Bi) above.

Partial Exercise of Right. In the event the Company (or its ------------------------- assignees) makes a timely exercise of its first refusal rights hereunder the Right of First Refusal with respect to a portion, but not all, of the Target Shares specified in the Optionee's notice of intended dispositionDisposition Notice, the Optionee Owner shall have the option, exercisable by written notice to the Company delivered within sixty thirty (6030) days after the date of the initial notice of intended dispositionDisposition Notice, to effect the sale of the Target Shares pursuant to one or both of the following alternatives: (Aa) sale or other disposition of all the Target Shares to a third-party purchaser in compliance with the requirements of Paragraph 8(b)(iv)section 3.4, as if the Company did not exercise its first refusal rights the Right of First Refusal hereunder; or (Bb) 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 Paragraph 8(b)(iii)Section 3.3, and, at the option of Optionee, and sale or other disposition of the remaining portion of the Target Shares to a third-third party purchaser in compliance with Paragraph 8(b)(iv)Section 3.4, as if the Company did not exercise the Right of First Refusal as to such remaining shares. Failure of the Optionee Owner to deliver timely notification to the Company under this Paragraph 8(b)(vi) Section 3.5 shall be deemed to be an election by the Optionee Owner to sell the Target Shares pursuant to alternative (Ba) above.