Common use of First Right of Purchase Clause in Contracts

First Right of Purchase. Upon receipt of the Notice of Proposed Transfer, the Company shall have a right to purchase the Shares to which such Notice relates at the price and in the manner specified herein before any other action is taken to sell, assign, transfer, pledge, or otherwise dispose of the Shares. Such right shall continue for a period of 10 days from the receipt of the Notice of Proposed Transfer. If the Company elects to exercise its first right of purchase, it shall so notify the Holder of the Shares on the terms and conditions as are specified in such Notice and shall specify the time and place for tender of certificates representing such Shares.

First Right of Purchase. Upon receipt of the Notice of Proposed Transfer, the Company shall have a right to purchase the Shares to which such Notice relates at the price and in the manner specified herein before any other action is taken to sell, assign, transfer, pledge, or otherwise dispose of the Shares. Such right shall continue for a period of 10 days from the receipt of the Notice of Proposed TransferTransfer on the terms & conditions as are specified in such Notice. If the Company elects to exercise its first right of purchase, it shall so notify the Holder of the Shares on the terms and conditions as are specified in such Notice and shall specify the time and place for tender of certificates representing such Shares.