Common use of Exercise of Purchase Rights Clause in Contracts

Exercise of Purchase Rights. (a) Within 30 days after providing the Preliminary Sale Notice, Metro One shall provide Sonera notice (a "New Issue Notice") of the specific number of New Issue Securities Metro One is offering to sell (including projected timing) and the price (or price range for a Public Market Sale) and all other material terms applicable thereto and shall provide to Sonera therewith or within 5 Business Days thereafter such other information as Sonera may have reasonably requested after receipt of the Preliminary Sale Notice in order to evaluate the proposed sale. Within 10 Business Days of receipt of the New Issue Notice, Sonera shall notify Metro One that (i) Sonera agrees to purchase all of the New Issue Securities at the price (or at a price within the range) specified in the New Issue Notice, or (ii) Sonera offers to purchase a specified number of the New Issue Securities at the price in the New Issue Notice or at a specified alternative price, together with the duration of the offer and/or other terms (if any) for such purchase (a "Sonera Alternative Notice"); or (iii) Sonera declines to purchase any New Issue Securities, which decision shall be deemed to have been made in the event Sonera fails to respond within such 10 Business Day period. In addition to specifying a number of New Issue Securities that Sonera offers to purchase in a Sonera Alternative Notice, Sonera may agree in the Sonera Alternative Notice to purchase, at a specified price (or within a price range), share volume, timing and other parameters and concurrently with a sale of New Issue Securities to any third parties, a number of New Issue Securities up to and including that which would be sufficient to maintain a specified percentage ownership interest in the Common Stock on a fully-diluted basis (a "Percentage Election"). (b) A Sonera notice under Section 4.2(a)(i) will be deemed an acceptance of Metro One's offer to sell the New Issue Securities. (c) A Sonera Alternative Notice shall be deemed, during the 180 day period following the New Issue Notice, a revocable offer of Sonera to buy the New Issue Securities identified in such notice under the terms set forth therein, subject to Section 4.4 hereof and conditioned on the sale of New Issue Securities by Metro One to a third party at the price (or within the price range) specified in such Sonera Alternative Notice. Metro One may accept the offer in a Sonera Alternative Notice by notice provided to Sonera not less than 10 Business Days prior to closing if, at the time of such acceptance, the Sonera offer has not expired in accordance with its terms or been revoked. (d) A Percentage Election shall be deemed, during the 180 day period following the New Issue Notice, a revocable agreement by ▇▇▇▇▇▇ to buy and a binding agreement by Metro One to sell the applicable portion of the New Issue Securities, subject to Section 4.4 hereof and conditioned on the sale of New Issue Securities by Metro One to a third party at the price (or within the price range) and other terms specified in such Percentage Election.

Exercise of Purchase Rights. (a) Within 30 days after providing the Preliminary Sale Notice, Metro One shall provide Sonera notice (a "New Issue Notice") of the specific number of New Issue Securities Metro One is offering to sell (including projected timing) and the price (or price range for a Public Market Sale) and all other material terms applicable thereto and shall provide to Sonera therewith or within 5 Business Days thereafter such other information as Sonera may have reasonably requested after receipt of the Preliminary Sale Notice in order to evaluate the proposed sale. Within 10 Business Days of receipt of the New Issue Notice, Sonera shall notify Metro One that (i) Sonera agrees to purchase all of the New Issue Securities at the price (or at a price within the range) specified in the New Issue Notice, or (ii) Sonera offers to purchase a specified number of the New Issue Securities at the price in the New Issue Notice or at a specified alternative price, together with the duration of the offer and/or other terms (if any) for such purchase (a "Sonera Alternative Notice"); or (iii) Sonera declines to purchase any New Issue Securities, which decision shall be deemed to have been made in the event Sonera fails to respond within such 10 Business Day period. In addition to specifying a number of New Issue Securities that Sonera offers to purchase in a Sonera Alternative Notice, Sonera may agree in the Sonera Alternative Notice to purchase, at a specified price (or within a price range), share volume, timing and other parameters and concurrently with a sale of New Issue Securities to any third parties, a number of New Issue Securities up to and including that which would be sufficient to maintain a specified percentage ownership interest in the Common Stock on a fully-diluted basis (a "Percentage Election"). (b) A Sonera notice under Section 4.2(a)(i) will be deemed an acceptance of Metro One's offer to sell the New Issue Securities. (c) A Sonera Alternative Notice shall be deemed, during the 180 day period following the New Issue Notice, a revocable offer of Sonera to buy the New Issue Securities identified in such notice under the terms set forth therein, subject to Section 4.4 hereof and conditioned on the sale of New Issue Securities by Metro One to a third party at the price (or within the price range) specified in such Sonera Alternative Notice. Metro One may accept the offer in a Sonera Alternative Notice by notice provided to Sonera not less than 10 Business Days prior to closing if, at the time of such acceptance, the Sonera offer has not expired in accordance with its terms or been revoked. (d) A Percentage Election shall be deemed, during the 180 day period following the New Issue Notice, a revocable agreement by ▇▇▇▇▇▇ Sonera to buy and a binding agreement by Metro One to sell the applicable portion of the New Issue Securities, subject to Section 4.4 hereof and conditioned on the sale of New Issue Securities by Metro One to a third party at the price (or within the price range) and other terms specified in such Percentage Election.