Examples of Preemptive Offer Notice in a sentence
Notice by any Preemptive Rights Member of its acceptance, in whole or in part, of the offer set forth in a Preemptive Offer Notice (a “Notice of Preemptive Rights Acceptance”) shall be irrevocable upon delivery to the Company prior to the end of the Preemptive Rights Election Period, setting forth the number of New Securities such Preemptive Rights Member elects to purchase.
The Preemptive Offer Notice shall by its terms remain open for a period of ten Business Days from the date of delivery thereof (the “Preemptive Rights Election Period”) and shall specify the date on which the New Securities will be sold to accepting Preemptive Rights Members (which shall be at least ten Business Days but not more than 180 days after the date of delivery of the Preemptive Offer Notice).
The failure of any Preemptive Rights Member to respond to the Preemptive Offer Notice during the Preemptive Rights Election Period shall be deemed a waiver of such Preemptive Rights Member’s Preemptive Rights with respect to the applicable Preemptive Offer Notice.
Each Preemptive Rights Member shall have the right, during the Preemptive Rights Election Period, to elect to purchase any or all of its Proportionate Percentage of the New Securities at the purchase price and on the terms set stated in the Preemptive Offer Notice.
The closing of an issuance of New Securities pursuant to this Section 5.2 shall take place on the proposed issuance date set forth in the Preemptive Offer Notice; provided that consummation of an issuance may be extended beyond such date to the extent necessary to obtain any applicable governmental approval or other required approval or to satisfy other conditions set forth in the Preemptive Offer Notice (and notice of any such extension will be given to the applicable Preemptive Rights Members).