Common use of Termination of the Right of First Refusal Clause in Contracts

Termination of the Right of First Refusal. The right of first refusal granted under this Section 2 shall expire upon the first to occur of (and shall not be applicable to the events set forth in clauses (i) or (ii) of this Section 2(e)): (i) a Liquidation Event, (ii) the Initial Public Offering, and (iii) five years after the date of this Agreement. In addition, the right of first refusal set forth in this Section 2 shall terminate with respect to any Significant Holder who fails to purchase, in any transaction subject to this Section 2, all of such Significant Holder’s pro rata portion of the New Securities allocated to such Significant Holder pursuant to this Section 2 (and following any such termination, such Significant Holder shall no longer be deemed a “Significant Holder” for any purpose of this Section 2); provided, however, that the Company may waive (in its sole discretion) the termination provisions of this sentence with respect to any particular issuance or issuances of New Securities.

Termination of the Right of First Refusal. The right of first refusal granted under this Section 2 shall expire upon the first to occur of (and shall not be applicable to the events set forth in clauses (i) or (ii) of this Section 2(e2.1(d)): (i) a Liquidation Event, (ii) the Initial Public Offering, Offering and (iii) five years after the date of this Agreement. In addition, the right of first refusal set forth in this Section 2 shall terminate with respect to any Significant Holder who fails to purchase, in any transaction subject to this Section 2, all of such Significant Holder’s pro rata portion of the New Securities allocated to such Significant Holder pursuant to this Section 2 (and following any such termination, such Significant Holder shall no longer be deemed a “Significant Holder” for any purpose of this Section 2); provided, however, that the Company may waive (in its sole discretion) the termination provisions of this sentence with respect to any particular issuance or issuances of New Securities.