Right to Maintain Interest Sample Clauses

Right to Maintain Interest. If, after the completion of a program during which a Defaulting Party failed to pay its proportionate share of any expenditures, subsequent programs are proposed and carried out, the Defaulting Party shall have the right to maintain its reduced participating interest (if more than ten per cent (10%)) by paying its proportionate share of the subsequent programs based on such reduced interest, in accordance with the provisions of paragraph 6.0 of this Schedule “B”.
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Right to Maintain Interest. Subject to the terms and conditions -------------------------- specified in this Section 2.6, the Company hereby grants to each Major Holder a right to maintain the percentage ownership interest of such Major Holder in the Company with respect to future sales by the Company of any shares of, or securities convertible into or exercisable for any shares of, any class of its capital stock ("Shares"), such that each time the Company proposes to offer ------ Shares, the Company shall first make an offering of such Shares to each Major Holder in accordance with the following provisions:
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Right to Maintain Interest. The Company hereby grants to each Investor the right to purchase its Pro Rata Amount (as defined below) of any New Securities (as defined in this Section 4) that the Company may, from time to time, propose to sell and issue. The Company may, at its election, sell such Investor its Pro Rata Amount of New Securities at the initial closing of the sale of New Securities or at a subsequent closing, which shall take place within 90 days of the initial closing. An Investor's Pro Rata Amount shall be the ratio of (i) the number of issued and outstanding shares (on an as-converted basis) of Convertible Securities and/or Registrable Securities held by such Investor immediately prior to the initial closing of the sale of such New Securities to (ii) the total number of shares of Common Stock of the Company outstanding (on an as-converted basis) immediately prior to the initial closing of the sale of such New Securities, including all outstanding securities convertible into, exchangeable for or exercisable for Common Stock on an as- converted or exercised basis (including but not limited to the Convertible Securities and outstanding options exercisable for Common Stock). This right to maintain interest shall be subject to the following provisions:
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Right to Maintain Interest. 4.1 SUBSEQUENT OFFERINGS. Each Investor and holder of Series B Stock shall have a right to purchase its Pro Rata Share (as defined herein) of all Equity Securities, as defined below, that the Company may, from time to time, propose to sell and issue after the date of this Agreement, other than the Equity Securities excluded by Section 4.6 hereof. The Company may, at its election, sell such Investor and holder of Series B Stock its Pro Rata Amount of Equity Securities at the initial closing of the sale of Equity Securities or at a subsequent closing of which shall take place within ninety (90) days of the initial closing. The Pro Rata Share of an Investor and holder of Series B Stock shall be equal to the ratio of (a) the number of shares of the Company's Common Stock (including all shares of Common Stock issued or issuable upon conversion of the Preferred Stock) which such Investor and holder of Series B Stock is deemed to hold immediately prior to the issuance of such Equity Securities to (b) the total number of shares of the Company's outstanding Common Stock (including all shares of Common Stock issued or issuable upon conversion of the Preferred Stock) immediately prior to the issuance of the Equity Securities. The term "
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Right to Maintain Interest. For so long as the Trust owns at least 600,000 shares of common stock of Akorn (subject to appropriate adjustment in the case of stock splits or stock dividends), if at any time or from time to time Akorn issues, sells, transfers or otherwise disposes of (an “Issuance”) any shares of its capital stock (other than (1) shares issued to employees or directors pursuant to employee benefit plans and director stock options in existence at the date hereof, and (2) shares issued in stock splits or dividends), Akorn agrees to notify the Trust In writing of the terms of the Issuance (which notice shall identify all parties in interest to, and the precise terms of, such offer or proposal), and to the extent that the Trustee has not exercised its right of first refusal as set forth in Section 2(g), the Trust shall thereupon be entitled to purchase from Akorn up to a number of shares of common stock of Akorn such that after such purchase and after the Issuance the ratio of the number of shares of common stock of Akorn then held by the Trust as compared to the total number of shares of common stock of Akorn then outstanding, in each case assuming exercise of the Warrant, shall be equal to the ratio of the number of shares of common stock of Akorn held by the Trust prior to the Issuance as compared to the total number of shares of common stock of Akorn outstanding prior to the Issuance, in each case assuming exercise of the Warrant, at a price per share equal to the price agreed to by the parties to the Issuance, if specified by them or, if not so specified, at a price equal on a per share basis to the Fair Value of the consideration received by the parties to the Issuance, the term “Fair Value” having the meaning Bet forth in Section 4(b) of the Warrant, upon notification in writing by the Trust to Akorn within 30 days following receipt of such notification from Akorn, with a closing of the transaction to be consummated within 60 days following the Trust’s notification to exercise its right to purchase.
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Right to Maintain Interest. 21 4.1 Subsequent Offerings . . . . . . . . . . . . . . . . . . . . . . . . . . 21 4.2 Exercise Of Rights . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 4.3 Issuance Of Equity Securities To Other Persons . . . . . . . . . . . . . 22 4.4 Termination Of Rights To Maintain Interest . . . . . . . . . . . . . . . 22 4.5 Transfer Of Rights To Maintain Interest. . . . . . . . . . . . . . . . . 22 4.6 Excluded Securities. . . . . . . . . . . . . . . . . . . . . . . . . . . 22 SECTION 5 MISCELLANEOUS . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
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Right to Maintain Interest. Subject to the terms and conditions specified in this Section 2.2, the Company hereby grants to each Ten Percent Holder and each Holder of at least 250,000 shares of the Company's Series B Preferred Stock (a "Series B Holder") a right to maintain interest with respect to future sales by the Company of its Shares (as hereinafter defined). A Ten Percent Holder who chooses to exercise its right to maintain interest may designate as purchasers under such right itself or its partners or affiliates in such proportions as it deems appropriate. Each time the Company proposes to offer any shares of, or securities convertible into or exercisable for any shares of, any class of its capital stock ("SHARES"), the Company shall first make an offering of such Shares to each Ten Percent Holder and each Series B Holder in accordance with the following provisions:
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Right to Maintain Interest 
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Related to Right to Maintain Interest

  • Failure to Maintain Insurance Failure on the part of the Consultant to maintain the insurance as required shall constitute a material breach of contract, upon which the City may, after giving five business days notice to the Consultant to correct the breach, immediately terminate the Agreement or, at its discretion, procure or renew such insurance and pay any and all premiums in connection therewith, with any sums so expended to be repaid to the City on demand, or at the sole discretion of the City, offset against funds due the Consultant from the City.

  • Right to Match (1) If the Company receives an Acquisition Proposal that constitutes a Superior Proposal prior to the approval of the Arrangement Resolution by the Common Shareholders the Board may, subject to compliance with Article 7 and Section 8.2, enter into a definitive agreement with respect to such Superior Proposal, if and only if:

  • Maintain Insurance The Credit Parties’ shall at all times insure and keep insured with insurance companies acceptable to Lender, all insurable property owned by the Credit Parties which is of a character usually insured by companies similarly situated and operating like properties, against loss or damage from environmental, fire and such other hazards or risks as are customarily insured against by companies similarly situated and operating like properties; and shall similarly insure employers’, public and professional liability risks. Prior to the date of the funding of any Loans under this Agreement, Borrower shall deliver to Lender a certificate setting forth in summary form the nature and extent of the insurance maintained pursuant to this Section. All such policies of insurance must be satisfactory to Lender in relation to the amount and term of the Obligations and type and value of the Collateral and assets of the Credit Parties, shall identify Lender as sole/lender’s loss payee and as an additional insured. In the event the Credit Parties fail to provide Lender with evidence of the insurance coverage required by this Section or at any time hereafter shall fail to obtain or maintain any of the policies of insurance required above, or to pay any premium in whole or in part relating thereto, then Lender, without waiving or releasing any obligation or default by Borrower hereunder, may at any time (but shall be under no obligation to so act), obtain and maintain such policies of insurance and pay such premium and take any other action with respect thereto, which Lender deems advisable. This insurance coverage: (i) may, but need not, protect the Credit Parties’ interest in such property, including, but not limited to, the Collateral; and (ii) may not pay any claim made by, or against, the Credit Parties in connection with such property, including, but not limited to, the Collateral. The Credit Parties may later cancel any such insurance purchased by Lender, but only after providing Lender with evidence that the insurance coverage required by this Section is in force. The costs of such insurance obtained by Lender, through and including the effective date such insurance coverage is canceled or expires, shall be payable on demand by the Credit Parties to Lender, together with interest at the Default Rate on such amounts until repaid and any other charges by Lender in connection with the placement of such insurance. The costs of such insurance, which may be greater than the cost of insurance which the Credit Parties may be able to obtain on its own, together with interest thereon at the Default Rate and any other charges by Lender in connection with the placement of such insurance may be added to the total Obligations due and owing to the extent not paid by the Credit Parties.

  • Right to Lease Landlord reserves the absolute right to effect such other tenancies in the Project as Landlord in the exercise of its sole business judgment shall determine to best promote the interests of the Building or Project. Tenant does not rely on the fact, nor does Landlord represent, that any specific tenant or type or number of tenants shall, during the Lease Term, occupy any space in the Building or Project.

  • Right to Offset If We make a claim payment to You or on Your behalf in error or You owe Us any money, You must repay the amount You owe Us. Except as otherwise required by law, if We owe You a payment for other claims received, We have the right to subtract any amount You owe Us from any payment We owe You.

  • Right to Prepay The Borrower shall have the right at its option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in Section 5.4.2 below or in Section 5.6 [Additional Compensation in Certain Circumstances]):

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