Common use of TRANSFER OF PRE-EMPTIVE RIGHT Clause in Contracts

TRANSFER OF PRE-EMPTIVE RIGHT. The Pre-Emptive Right set forth in this Section 4 may be transferred or assigned by a Pre-Emptive Purchaser only to a transferee or assignee of not less than (i) 200,000 shares of Series B Preferred Stock, (ii) 200,000 shares of Series C Preferred Stock, (iii) 200,000 shares of Series D Preferred Stock (iv) 200,000 shares of Series E Preferred Stock, (v) 200,000 shares of Series F Preferred Stock or (vi) 200,000 shares of Common Stock (in each case, as currently constituted and subject to subsequent adjustments for stock splits, stock dividends, reverse stock splits, and the like), provided that the Company is given written notice prior to said transfer or assignment, stating the name and address of the transferee or assignee and identifying the securities with respect to which such Pre-Emptive Rights are being transferred or assigned, and, provided further, that the transferee or assignee of such rights assumes in writing the obligations of such Pre-Emptive Purchaser under this Agreement.