Second Participation Period definition
Examples of Second Participation Period in a sentence
Each Participation Rights Holder shall be obligated to buy such number of New Securities as determined by the Company pursuant to Section 5.03(b) and Section 5.03(c) and the Company shall so notify the Participation Rights Holder within twenty (20) days following the expiration of the First Participation Period (or the Second Participation Period if any Participation Rights Holder fails to exercise in full or forfeits its Preemptive Right in accordance with Section 5.03(b)).
Upon the expiration of the Second Participation Period, the Company shall have ninety (90) days thereafter to sell the New Securities described in the First Participation Notice (with respect to which the Preemptive Right hereunder were not exercised) at the same or higher price and upon non-price terms no more favorable to the purchasers thereof than specified in the First Participation Notice.
Any New Issuance to a Preemptive Right Holder shall be completed within fifteen (15) Business Days (or, with respect to an ODI Investor, any other reasonable period as negotiated in good faith and agreed in writing by the Company and such ODI Investor) after expiration of the Second Participation Period.
To structure its scenarios building process the project follows a simplified version of the DPSIR framework, which just consists of Drivers, Impacts and Responses (of policy and strategy issues).
Each Fully Participating Investor shall be obligated to buy such number of New Securities as determined by the Company pursuant to this Section5.3 and the Company shall so notify the Fully Participating Investors within five (5) days following the expiration of the Second Participation Period.
Upon the expiration of the Second Participation Period, or in the event no Participation Rights Holder timely exercises its Right of Participation within ten (10) Business Days following the issuance of the First Participation Notice, the Company shall have 120 days thereafter to sell the New Securities described in the First Participation Notice at the same or higher price and upon non-price terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice.
Failure to satisfy the conditions in this Clause within the Second Participation Period will forfeit the any right of the Right Participant to purchase the Additional Number.
Failure of delivery of the written notice of the subscription of the Additional Quantity to the Company within the Second Participation Period will render the Participation Right Person losing the right to purchase the Additional Quantity.
Upon the expiration of the Participation Period (or the Second Participation Period, if relevant), the Company may complete the issue of New Securities with respect to which the right of participation hereunder were not exercised on the terms and conditions specified in the Company’s notice within ninety (90) days following the expiration of the Participation Period (or the Second Participation Period, if relevant).
Failure to satisfy the conditions in this Section 4.4(b) within the Second Participation Period will forfeit any right of the Right Participant to purchase the Additional Number.