Common use of Right of First Refusal for New Securities Clause in Contracts

Right of First Refusal for New Securities. (a) The Company hereby grants to each of the Shareholders a right of first refusal to purchase New Securities (as defined below) which the Company may, from time to time, propose to issue and sell. Such right of first refusal shall allow each Shareholder to purchase its pro rata share of the New Securities proposed to be issued based on the percentage ownership of such Shareholder before the proposed issuance of New Securities. In the event a Shareholder does not purchase any or all of its pro rata share based on its percentage ownership of New Securities, the remaining Shareholders shall each have the right to purchase its pro rata share based on its percentage ownership of such unpurchased New Securities until all of the New Securities are purchased or until no other Shareholder desires to purchase any more New Securities. The right of first refusal granted hereunder shall terminate if unexercised within 30 calendar days after receipt of the New Securities Notice described in Section 4.1(c) below.

Right of First Refusal for New Securities. (a) The Company hereby grants to each of the Shareholders Stockholders a right of first refusal to purchase shares of any New Securities (as defined below) which the Company may, from time to time, propose to issue and sell. Such right of first refusal shall allow each Shareholder Stockholder to purchase its a pro rata share portion of the New Securities proposed to be issued based on issued, determined with reference to the percentage ownership aggregate number of outstanding shares of Common Stock held by such Shareholder Stockholder before the proposed issuance of New Securities. In the event a Shareholder Stockholder does not purchase any or all of its pro rata share based on its percentage ownership portion of New Securities, the remaining Shareholders Stockholders shall each have the right to purchase its pro rata share based on its percentage ownership of such unpurchased New Securities or respective pro rata portion until all of the New Securities are purchased or until no other Shareholder Stockholder desires to purchase any more New Securities. The right of first refusal granted hereunder shall terminate if unexercised within 30 calendar days after receipt of the New Securities Notice notice described in Section 4.1(c5.5(c) below.

Right of First Refusal for New Securities. (a) The Company hereby grants to each of the Shareholders a right of first refusal to purchase New Securities (as defined below) which the Company may, from time to time, propose to issue and sell. Such right of first refusal shall allow each Shareholder to purchase its pro rata share based on its percentage ownership of the New Securities proposed to be issued based on issued, determined with reference to the percentage ownership of such each Shareholder before the proposed issuance of New Securities. In the event a Shareholder does not purchase any or all of its pro rata share based on its percentage ownership of New Securities, the remaining Shareholders shall each have the right to purchase its pro rata share based on its percentage ownership of such unpurchased New Securities until all of the New Securities are purchased or until no other Shareholder desires to purchase any more New Securities. The right of first refusal granted hereunder shall terminate if unexercised within 30 calendar days after receipt of the New Securities Notice described in Section 4.1(c4.5(c) below.