Common use of Participation Notice Clause in Contracts

Participation Notice. In the event that the Company proposes to undertake an issuance of New Securities (in a single transaction or a series of related transactions), it shall give to each Rights Holder written notice of its intention to issue New Securities (the “Participation Notice”), describing the amount and type of New Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each Rights Holder shall have fifteen (15) Business Days from the date of receipt of any such Participation Notice (the “Participation Period”) to give written notice to the Company of its intention to purchase up to such Rights Holder’s Pro Rata Share of such New Securities for the price and upon the terms and conditions specified in the Participation Notice stating therein the quantity of New Securities to be purchased (not to exceed such Rights Holder’s Pro Rata Share) (the Rights Holders who have given such notice, the “Participating Rights Holders”). If any Rights Holder fails to so respond in writing within such fifteen (15) Business Day period, then such Rights Holder shall forfeit the right hereunder to purchase its Pro Rata Share of such New Securities, but shall not be deemed to forfeit any right with respect to any other issuance of New Securities.

Participation Notice. In the event that the Company proposes to undertake an issuance of New Securities (in a single transaction or a series of related transactions), it shall give to each Participation Rights Holder a written notice of its intention to issue New Securities (the “Participation Notice”), describing the amount and type of New Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each Participation Rights Holder shall have fifteen ten (1510) Business Days calendar days from the date of receipt of any the Participation Notice to agree in writing to purchase such Participation Notice (the “Participation Period”) to give written notice to the Company of its intention to purchase up to such Rights Holder’s Pro Rata Share of such New Securities for the price and upon the terms and conditions specified in the Participation Notice Notice, by giving a written notice to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share) (the Rights Holders who have given such notice, the “Participating Rights Holders”). If any Participation Rights Holder fails to so respond agree in writing within such fifteen ten (1510) Business Day periodcalendar days to purchase such Participation Rights Holder’s full Pro Rata Share of an offering of New Securities, then such Participation Rights Holder shall forfeit the be deemed to have forfeited its right hereunder to purchase that portion of its Pro Rata Share of such New SecuritiesSecurities that it did not agree to purchase, but shall not be deemed without prejudice to forfeit participating in any right with respect to any future or other issuance offerings of New Securities.

Participation Notice. In the event that the Company proposes to undertake an issuance of New Securities (in a single transaction or a series of related transactions), it shall give to each Participation Rights Holder written notice of its intention to issue New Securities (the “Participation Notice”), describing the amount and type of New Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each Participation Rights Holder shall have fifteen thirty (1530) Business Days days from the date of receipt of any such Participation Notice (the “Participation Period”) to give written notice to the Company of its intention agree in writing to purchase up to such Participation Rights Holder’s Pro Rata Share of such New Securities for the price and upon the terms and conditions specified in the Participation Notice by giving written notice to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share) (the Rights Holders who have given such notice, the “Participating Rights HoldersPurchase Notice”). If any Participation Rights Holder fails to so respond agree in writing within Participation Period to purchase such fifteen (15) Business Day periodParticipation Rights Holder’s full Pro Rata Share of an offering of New Securities, then such Participation Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of such New Securities, but shall Securities that it did not be deemed agree to forfeit any right with respect to any other issuance of New Securitiespurchase.

Participation Notice. In the event that the Participation Rights Holders do not exercise, or partially exercise, their rights set forth in Section 4A above, the Company proposes to undertake an issuance of New Securities (in a single transaction or a series of related transactions), it shall then give to each Preferred Participation Rights Holder written notice of its intention to issue New Securities (the “Preferred Participation Notice”), describing the amount and the type of New Securities, Securities that are available for such Preferred Participation Rights Holder to purchase and the price and the general terms upon which the Company proposes to issue such New Securities. Each Preferred Participation Rights Holder shall have fifteen (15) Business Days days from the date of receipt of any such Preferred Participation Notice (the “Participation Period”) to give written notice to the Company of its intention agree in writing to purchase up to all of such Preferred Participation Rights Holder’s Pro Rata Share pro rata share of such New Securities for the price and upon the terms and conditions specified in the Preferred Participation Notice by giving written notice to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Preferred Participation Rights Holder’s Pro Rata Share) (the Rights Holders who have given such notice, the “Participating Rights Holders”pro rata share). If any Preferred Participation Rights Holder fails to so respond agree in writing within such fifteen (15) Business Day periodday period to purchase such Preferred Participation Rights Holder’s full pro rata share of an offering of New Securities, then such Preferred Participation Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share pro rata share of such New Securities, but shall Securities that it did not be deemed so agree to forfeit any right with respect to any other issuance of New Securitiespurchase.