Common use of Reduction in Amount of Offered Securities Clause in Contracts

Reduction in Amount of Offered Securities. In the event the Company shall propose to sell an amount of the Offered Securities which is less than the aggregate amount of all of the Investor's Pro Rata Portions with respect to the Investor who has timely submitted Notices of Acceptance (any such sale to be in the manner and on the terms specified above), then the number of the Offered Securities specified in the Investor's Notice of Acceptance shall be reduced to an amount which shall be not less than the amount of the Offered Securities which the Investor elected to purchase pursuant to (b) above multiplied by a fraction, (i) the numerator of which shall be the amount of Offered Securities which the Company actually proposes to sell, and (ii) the denominator of which shall be the amount of all Offered Securities the Company proposed to sell in its writing delivered pursuant to Section 8.2(a) above. In the event that the number or amount of Offered Securities specified in the Investor's Notice of Acceptance, is so reduced, the Company may not sell or otherwise dispose of more than the reduced amount of the Offered Securities until such securities have again been offered to the Investor in accordance with (a) above.

Reduction in Amount of Offered Securities. In the event the Company shall propose to sell an amount of the Offered Securities which is issue and allot less than all the aggregate amount of all of the Investor's Pro Rata Portions with respect to the Investor who has timely submitted Notices of Acceptance Refused Securities (any such sale issue and allotment to be in the manner and on the terms specified above), then each Offeree may, at its sole option and in its sole discretion, reduce the number of, or other units of the Offered Securities specified in the Investor's Notice its respective Notices of Acceptance shall be reduced to an amount which shall be not less than the amount of the Offered Securities which the Investor Offeree elected to purchase pursuant to (b) above multiplied by a fraction, (i) the numerator of which shall be the amount of Offered Securities which the Company actually proposes to sellissue and allot, and (ii) the denominator of which shall be the amount of all Offered Securities the Company proposed to sell issue and allot in its writing delivered pursuant to Section 8.2(a4.5(a) above. In the event that any Offeree so elects to reduce the number or amount of Offered Securities specified in the Investor's Notice its respective Notices of Acceptance, is so reduced, the Company may not sell issue or allot or otherwise dispose of more than the reduced amount of the Offered Securities until such securities have again been offered to the Investor Offerees in accordance with (a) above.