Common use of Future Offerings Clause in Contracts

Future Offerings. In any private offering of Licensee’s equity securities in exchange for cash (or in satisfaction of debt issued for cash), Stanford may purchase for cash that number of the securities issued in such offering as is necessary for Stanford to maintain its pro rata ownership interest in the Licensee on a Fully-Diluted Basis. This right is in addition to Stanford’s rights under Section 7.4. If both Section 7.4 and this Section 7.5 apply to an offering, the provision granting Stanford the greater purchase rights will govern.