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 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 Stockholder to purchase a pro rata portion of the shares of Common Stock, Preferred Stock or Warrants as may be included in the New Securities proposed to be issued, determined with reference to the aggregate number of outstanding shares of Common Stock (including all Warrant Stock) or Preferred Stock (as the case may be) held by such Stockholder before the proposed issuance of New Securities. In the event a Stockholder does not purchase any or all of its pro rata portion of New Securities, the remaining Stockholders shall have the right to purchase such unpurchased New Securities or respective pro rata portion until all of the New Securities are purchased or until no other 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 notice described in Section 5.5(c) below.

Right of First Refusal for New Securities. (a) The Company hereby grants to each of the 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 Stockholder to purchase a pro rata portion of the shares of Common Stock, Stock or Preferred Stock or Warrants as may be included in the New Securities proposed to be issued, determined with reference to the aggregate number of outstanding shares of Common Stock (including all Warrant Stock) or Preferred Stock (as the case may be) held by such Stockholder before the proposed issuance of New Securities. In the event a Stockholder does not purchase any or all of its pro rata portion of New Securities, the remaining Stockholders shall have the right to purchase such unpurchased New Securities or respective pro rata portion until all of the New Securities are purchased or until no other Stockholder desires to purchase any more additional New Securities. The right of first refusal granted hereunder shall terminate if unexercised within 30 calendar days after receipt of the notice described in Section 5.5(c) below.

Right of First Refusal for New Securities. (a) The Company hereby grants to each of the Stockholders a pro rata 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 sell and sellissue. Such right of first refusal shall allow each Stockholder to purchase a pro rata portion of the shares of Common Stock, Preferred Stock or Warrants Stock Rights or other securities, as may be included in the New Securities proposed to be issued, . Such pro rata portions shall be determined with by reference to the aggregate number of outstanding shares of Fully Diluted Common Stock (including all Warrant Stock) or Preferred Stock (as the case may be) held by such each Stockholder before the proposed issuance of New Securities. In the event a Stockholder does not purchase any or all of its pro rata portion of New Securities, the remaining Stockholders shall have the right to purchase their respective pro rata portions of such unpurchased New Securities or respective pro rata portion until all of the New Securities are purchased or until no other Stockholder desires desire to purchase any more New Securities; provided, that all such remaining Stockholders purchasing Stock or Stock Rights, as the case may be, hereunder shall have held Stock or Stock Rights, respectively, before the issuance of the New Securities. The right of first refusal granted hereunder shall terminate if if, unexercised within 30 calendar thirty (30) days after receipt of the notice described in Section 5.5(c5.6(c) below.