Common use of Permitted Transfer Following Right of First Refusal Clause in Contracts

Permitted Transfer Following Right of First Refusal. If all of the Purchased Shares identified in the Purchaser Notice of Right of First Refusal are not purchased by the Corporation and/or the Other Purchaser prior to the 25th day subsequent to the expiration of the Purchaser Exclusive Option Period, then all of such Purchased Shares (including any shares for which a proper tender was made) may be transferred by the Selling Purchaser at any time during the ensuing 30 days (10 days in the case of a market transaction) at any price (in the case of a market transaction) or, in the case of a non-market transaction, in strict conformity with the Purchaser Offered Terms (or on terms more favorable to the Selling Purchaser) set forth in the Purchaser Notice of Right of First Refusal.