Lapse. The Right of First Refusal under this Section 12 shall lapse and cease to have effect upon the sale of securities pursuant to a registration statement filed by the Company under the Securities Act in connection with the firm commitment underwritten offering of its securities to the general public is consummated or when the Company is subject to the requirements of Sections 12(g) or 15(d) of the Securities and Exchange Act of 1934, whichever event shall first occur.
Appears in 3 contracts
Sources: Support & Services Agreement (Open Solutions Inc), Incentive Stock Option Agreement (Open Solutions Inc), Non Qualified Stock Option Agreement (Open Solutions Inc)