Examples of Preemptive Holders in a sentence
Each Preemptive Holder’s “ Preemptive Share” of Preemptive Securities shall be determined as follows: the total number of Preemptive Securities, multiplied by a fraction, (i) the numerator of which is the number of shares of Common Stock then held, directly or indirectly, by such Preemptive Holder on a Fully-Diluted Basis, and (ii) the denominator of which is the number of shares of Common Stock then held by all Preemptive Holders (including such Preemptive Holder) on a Fully-Diluted Basis.
Each Preemptive Holder shall have 20 days from the date such written notice is given to elect to purchase all or a portion of such Preemptive Holder's Pro Rata share of the New Securities, by giving written notice to the Company of such election and the quantity of New Securities such Preemptive Holder will purchase.
If, with respect to any Preemptive Notice, the Preemptive Holders fail to deliver an Exercise Notice within the requisite time period, the Company shall have 90 days after the expiration of the time in which the Exercise Notice is required to be delivered in which to sell not less than 90% and not more than 110% of the number of shares of Participation Securities of the Company described in the Preemptive Notice at a price of not less than the estimated price set forth in the Preemptive Notice.
In the event the Company has not sold such New Securities within such ninety (90) day period, the Company shall not thereafter issue or sell any New Securities, without first again offering such securities to the Series E Investor, the Series D Investor, the Third Pre-emptive Holders, the Series C Investor and the Ordinary Investors in the manner provided in this Section 8.
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In the event the Company has not sold such New Securities within such ninety (90) day period, the Company shall not thereafter issue or sell any New Securities, without first again offering such securities to the Series E Investor, the Series D Investor, the Third Pre-emptive Holders, the Series C Investor and the Ordinary Investors in the manner provided in this Section 7.
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The Company may offer to third parties and/or to its shareholders any shares of the New Round which exceed the number that the Preemptive Holders are entitled to purchase according to section 40.2 and have agreed to purchase.
In addition, each Preemptive Holder may elect to purchase more than its Pro Rata Share (an "EXCESS ELECTION") and, to the extent one or more of the other Preemptive Holders does not elect to purchase its full Pro Rata Share (the "UNALLOCATED SHARE"), each Preemptive Holder so electing may 12 purchase such portion of the Unallocated Share equal to the percentage that its Excess Election is of the aggregate amount of Excess Elections of all Preemptive Holders.
Any Preemptive Securities to be sold by the Issuer following the expiration of such period must be reoffered to the Preemptive Holders pursuant to the terms of this section if any such agreement to Transfer is terminated.