Common use of Right of Purchase Clause in Contracts

Right of Purchase. The Company hereby grants to the Purchaser so long as it shall own, of record or beneficially, or have the right to acquire, any Purchased Shares, Conversion Shares or Common Stock, the right to purchase all or part of its pro rata share of New Securities (as defined in Section 5.2) which the Company, from time to time, proposes to sell and issue. A Purchaser's pro rata share, for purposes of this preemptive right, is the ratio of the number of Purchased Shares, Conversion Shares and shares of Common Stock which such Purchaser owns or has the right to acquire to the total number of Purchased Shares, Conversion Shares and shares of Common Stock then outstanding.

Right of Purchase. The Company hereby grants to the Purchaser Purchaser, so long as it shall own, of record or beneficially, or have the right to acquireacquire from the Company, any Purchased Shares, Conversion Shares Shares, or Common Stock, the right to purchase all or part of its or his pro rata share of New Securities (as defined in Section 5.26.2) which that the Company, from time to time, proposes to sell and issue. A The Purchaser's pro rata share, for purposes of this preemptive right, is the ratio of the number of Purchased shares of Preferred Stock, Conversion Shares, Conversion Shares and shares of Common Stock which such that the Purchaser owns or has the right to acquire to the total number of Purchased shares of Preferred Stock, Conversion Shares, Conversion Shares and shares of Common Stock then outstanding.