Common use of Participation in Future Issuances Clause in Contracts

Participation in Future Issuances. The Buyers shall have the right to participate in any future offerings, sales or exchanges by the Company of Common Stock or securities convertible into or exercisable for Common Stock (each, a “Future Offering”) so as to maintain each Buyer’s percentage ownership, on a fully diluted basis, of the Common Stock immediately prior to such offerings. For purposes of this Section 5.8, however, a Future Offering shall not include the issuance of options, restricted stock or similar securities by the Company in accordance with the terms of any employee benefit or compensation plan adopted by the Company’s Board of Directors. Each Buyer shall be entitled to receive written notice of any Future Offering (an “Offering Notice”) at least 15 days prior to the proposed closing date of such Future Offering, which Offering Notice must include a description of the securities to be offered, sold or exchanged, including the price and other terms upon which they are to be issued, sold or exchanged, the parties to whom such securities are being offered, sold or exchanged and the number or amount of the offered securities to be issued, sold or exchanged. If either or both of the Buyers elect to participate in a Future Offering, such Buyer or Buyers must give written notice of such election to the Company within 7 days following the receipt by such Buyer or Buyers of the Offering Notice. Such participation by such Buyer or Buyers in any Future Offering shall be at the same price and otherwise on the same terms as those described in the Offering Notice.

Participation in Future Issuances. The Buyers shall have the right to participate in any future offerings, sales or exchanges by the Company of Common Stock or securities convertible into or exercisable for Common Stock (each, a “Future Offering”) so as to maintain each Buyer’s percentage ownership, on a fully diluted basis, of the Common Stock immediately prior to such offerings. For purposes of this Section 5.85.7, however, a Future Offering shall not include the issuance of options, restricted stock or similar securities by the Company in accordance with the terms of any employee benefit or compensation plan adopted by the Company’s Board of Directors. Each Buyer shall be entitled to receive written notice of any Future Offering (an “Offering Notice”) at least 15 days prior to the proposed closing date of such Future Offering, which Offering Notice must include a description of the securities to be offered, sold or exchanged, including the price and other terms upon which they are to be issued, sold or exchanged, the parties to whom such securities are being offered, sold or exchanged and the number or amount of the offered securities to be issued, sold or exchanged. If either or both of the Buyers elect to participate in a Future Offering, such Buyer or Buyers must give written notice of such election to the Company within 7 days following the receipt by such Buyer or Buyers of the Offering Notice. Such participation by such Buyer or Buyers in any Future Offering shall be at the same price and otherwise on the same terms as those described in the Offering Notice.

Participation in Future Issuances. The Buyers shall have the right to participate in any future offerings, sales or exchanges by the Company of Common Stock or securities convertible into or exercisable for Common Stock (each, a “Future Offering”"FUTURE OFFERING") so as to maintain each Buyer’s 's percentage ownership, on a fully diluted basis, of the Common Stock immediately prior to such offerings. For purposes of this Section 5.8SECTION 5.7, however, a Future Offering shall not include the issuance of options, restricted stock or similar securities by the Company in accordance with the terms of any employee benefit or compensation plan adopted by the Company’s 's Board of Directors. Each Buyer shall be entitled to receive written notice of any Future Offering (an “Offering Notice”"OFFERING NOTICE") at least 15 days prior to the proposed closing date of such Future Offering, which Offering Notice must include a description of the securities to be offered, sold or exchanged, including the price and other terms upon which they are to be issued, sold or exchanged, the parties to whom such securities are being offered, sold or exchanged and the number or amount of the offered securities to be issued, sold or exchanged. If either or both of the Buyers elect to participate in a Future Offering, such Buyer or Buyers must give written notice of such election to the Company within 7 days following the receipt by such Buyer or Buyers of the Offering Notice. Such participation by such Buyer or Buyers in any Future Offering shall be at the same price and otherwise on the same terms as those described in the Offering Notice.