Common use of Pro-rata Exchange and Redemption Clause in Contracts

Pro-rata Exchange and Redemption. In the event the Company and BSTI each receives an Exchange Notice from more than one holder of Common Stock on the same day and BSTI can exchange and redeem some, but not all, of the Common Stock pursuant to this Section 11, BSTI shall exchange and redeem from each holder of Common Stock electing to have Common Stock exchanged and redeemed at such time an amount equal to such holder's pro-rata amount (based on the number of shares of Common Stock held by such holder relative to the number of shares of Common Stock outstanding, pursuant to this Agreement) of all Common Stock being exchanged and redeemed at such time.