Common use of Liquidating Event Clause in Contracts

Liquidating Event. A Liquidating Event shall mean a (i) firm ----------------- commitment underwritten public offering of the Company's securities under the Securities Act of 1933, as amended, (ii) transaction or series of transactions in which the Company consolidates or merges with any other business entity, after which the holders of the company's outstanding equity securities immediately before such consolidation or merger do not, immediately after such consolidation or merger, retain stocks or other equity interests representing a majority of the voting power of the surviving business entity or (iii) sale of all or substantially all of the assets or capital stock of the Company.