Secondary Refusal Right definition

Secondary Refusal Right means the right, but not an obligation, of each Investor to purchase up to its pro rata portion (based upon the total number of shares of Capital Stock then held by all Investors) of any Transfer Stock not purchased pursuant to the Right of First Refusal, on the terms and conditions specified in the Proposed Transfer Notice.

Secondary Refusal Right means the right, but not an obligation, of each Major Investor to purchase up to its pro rata portion (based upon the total number of shares of Capital Stock then held by all Major Investors) of any Transfer Stock not purchased by the Company pursuant to the Right of First Refusal, on the terms and conditions specified in the Transfer Notice.

Secondary Refusal Right means the right, but not an obligation, of the Company to purchase any Transfer Stock not purchased pursuant to the Right of First Refusal on the terms and conditions specified in the Proposed Transfer Notice.

Examples of Secondary Refusal Right in a sentence

• To exercise its Secondary Refusal Right, an Investor must deliver an Investor Notice to the selling Key Holder and the Company within ten (10) days after the Company’s deadline for its delivery of the Secondary Notice as provided in the preceding sentence.

• Subject to the terms of Section 3 below, each Key Holder hereby unconditionally and irrevocably grants to the Investors a Secondary Refusal Right to purchase all or any portion of the Transfer Stock not purchased by the Company pursuant to the Right of First Refusal, as provided in this Section 2.1(c).

• Subject to the terms of Section 3 below, each Key Holder hereby unconditionally and irrevocably grants to the Investors a Secondary Refusal Right to purchase all or any portion of the Transfer Stock not purchased by the Company pursuant to the Right of First Refusal, as provided in this Subsection 2.1(c).

• To exercise its Secondary Refusal Right, an Investor must deliver an Investor Notice to the selling Key Holder and the Company within ten (10) days after the delivery of the Secondary Notice as provided in the preceding sentence.

• To exercise its Secondary Refusal Right, an Investor must deliver an Investor Notice to the selling Key Holder and the Company within 10 days after the Company’s deadline for its delivery of the Secondary Notice as provided in the preceding sentence.

More Definitions of Secondary Refusal Right

Secondary Refusal Right means the right, but not an obligation, of each Investor, or his, her or its permitted transferees or assigns, to purchase up to its pro rata portion (based upon the relative number of shares of Preferred Stock then held by all Investors, on an as-converted to Common Stock basis (including any previously converted shares of Preferred Stock)) of some or all of the Transfer Stock with respect to a Proposed Transfer, on the terms and conditions specified in the Proposed Transfer Notice.

Secondary Refusal Right has the meaning set forth in Section 9.8(b)(iii).

Secondary Refusal Right means the right, but not an obligation, of each Preferred Member to purchase up to its pro rata portion of any Transfer Units not purchased pursuant to the Right of First Refusal, on the terms and conditions specified in the Proposed Transfer Notice.

Secondary Refusal Right means the right, but not an obligation, of each Shareholder to purchase up to its pro rata portion (based upon the total number of shares of Shares then held by

Secondary Refusal Right means the right, but not the obligation, of Juniper to purchase all or any Series A Preferred Stock not purchased pursuant to the Right of First Refusal, on the terms and conditions specified in the Proposed Transfer Notice.

Secondary Refusal Right means the right, but not an obligation, of Acorn Energy to purchase Transfer Stock not purchased pursuant to the Company’s Right of First Refusal, on the terms and conditions specified in the Proposed Transfer Notice.

Secondary Refusal Right means the right, but not an obligation, of each Holder to purchase up to its pro rata portion (based upon the total number of shares of Common Shares then held by all Holders) of any Transfer Shares not purchased pursuant to the Right of First Refusal, on the terms and conditions specified in the Proposed Transfer Notice.