VCOC AND TERM OF RIGHTS HEREUNDER Sample Clauses

VCOC AND TERM OF RIGHTS HEREUNDER. WestBridge represents that it is required by the terms of its governing instrument to operate as a venture capital operating company within the meaning of Department of Labor Regulations Section 2510.3-101. WestBridge agrees that the rights granted pursuant SECTIONS 4.1(h)(i) and (ii) hereof shall be of no force or effect upon the earlier of (1) the consummation of the sale of the Company's securities pursuant to a registration statement filed by the Company under the Securities Act in connection with the firm commitment underwritten offering of its securities to the general public; or (2) such date as WestBridge, or any affiliate, does not own, directly or indirectly any Notes, Warrants, or capital stock of the Company.
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