Common use of Termination of Right of Participation Clause in Contracts

Termination of Right of Participation. The rights of the Participating Stockholders under this Section 6 shall terminate immediately prior to the consummation of a Qualified Offering. In addition, the rights of holders of the Founder's Stock under this Section 6 shall terminate when the Founder owns less than 50% of the shares of Founder's Stock held by the Founder on the date first above written (as adjusted for stock splits, stock dividends, reclassifications, recapitalizations or other similar events). Upon the termination of the rights of an individual or entity pursuant to this subsection (e), such individual or entity shall no longer be deemed to be a "Participating Stockholder" under this Section 6.

Termination of Right of Participation. The rights of the Participating Stockholders under this Section 6 shall terminate immediately prior to the consummation of a Qualified Offering. In addition, the rights of holders of the Founder's ’s Stock under this Section 6 shall terminate when the Founder owns less than 50% of the shares of Founder's ’s Stock held by the Founder on the date first above written (as adjusted for stock splits, stock dividends, reclassifications, recapitalizations or other similar events). Upon the termination of the rights of an individual or entity pursuant to this subsection (e), such individual or entity shall no longer be deemed to be a "“Participating Stockholder" ” under this Section 6.

Termination of Right of Participation. The rights of the Participating Stockholders under this Section 6 shall terminate immediately prior to the consummation of a Qualified Offering. In addition, the rights of holders of the Founder's Stock Common under this Section 6 shall terminate when the Founder owns less than 50% of the shares of Founder's Stock Common held by the Founder on the date first above written (as adjusted for stock splits, stock dividends, reclassifications, recapitalizations or other similar events). Upon the termination of the rights of an individual or entity pursuant to this subsection (e), such individual or entity shall no longer be deemed to be a "Participating Stockholder" under this Section 6.