Calculation of Shares. Each Selling Holder may sell all or any part of that number of its Equity Securities equal to the product obtained by multiplying (A) the aggregate number of Shares covered by the Purchase Offer by (B) a fraction, the numerator of which is the number of Equity Securities at the time owned by such Selling Holder and the denominator of which is the sum of (x) the total number of Equity Securities at the time owned by all Major Investors participating in such sale plus (y) the total number of Equity Securities at the time owned by such Founder, including without limitation shares that have been transferred by such Founder to Permitted Transferees (as defined below) in accordance with this Agreement.
Appears in 3 contracts
Sources: Right of First Offer and Co Sale Agreement, Right of First Offer and Co Sale Agreement, Right of First Offer and Co Sale Agreement (Renren Inc.)