Common use of Termination of Right of Co-Sale Clause in Contracts

Termination of Right of Co-Sale. Notwithstanding anything in this ------------------------------- Section to the contrary, the rights of first refusal and of co-sale shall terminate on the earlier of (i) the closing date of the Company's IPO; or (ii) as to any Stockholder at such time as such Stockholder holds less than 2.5% of the total number of shares of Common Stock held by all Stockholders (after giving effect to the conversion of all shares of Preferred Stock held by all Stockholders).

Appears in 3 contracts

Samples: Stockholder Rights Agreement (Covad Communications Group Inc), Stockholder Rights Agreement (Covad Communications Group Inc), Stockholder Rights Agreement (Covad Communications Group Inc)

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Termination of Right of Co-Sale. Notwithstanding anything in this ------------------------------- Section to the contrary, the rights of first refusal offer and of co-sale provided in Section 14(a) hereof shall terminate on the earlier of (i) immediately prior to the closing date of the Company's IPO; or (ii) as to any Stockholder Investor at such time as such Stockholder Investor holds less than 2.5% of the total number of shares of Common Stock held by all Stockholders Investors (after giving effect to the conversion of all shares of Series C Preferred Stock and Series D Preferred held by all StockholdersInvestors).

Appears in 1 contract

Samples: Investor Rights Agreement (Reckson Services Industries Inc)

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