Common use of Action Required Clause in Contracts

Action Required. A Rights Holder shall not have the right to purchase any of the Offered Shares unless it exercises its right of first refusal within the First Refusal Period to purchase up to all, or any of its pro rata share, of the Offered Shares.

Action Required. A Rights No Preferred Holder shall not have the a right to purchase any of the Offered Shares unless it exercises its right of first refusal within the First Refusal Period to purchase up to all, or any part of its pro rata share, of the Offered Shares.

Action Required. A Rights Preferred Holder shall not have the right to purchase any of the Offered Shares unless it exercises its right of first refusal within the Preferred First Refusal Period to purchase up to all, or any of its pro rata share, of the Offered Shares.