Priority Rights Clause Samples
A Priority Rights clause establishes the order in which parties have the right to participate in certain opportunities, such as purchasing additional shares or assets, before others are allowed to do so. Typically, this clause outlines which stakeholders—such as existing shareholders or investors—are given the first chance to exercise their rights in events like new share issuances or asset sales. By clearly defining who has precedence, the clause helps prevent disputes and ensures that preferred parties can maintain their proportional interests or influence, thereby providing predictability and protecting key stakeholders from dilution or loss of control.
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Priority Rights. If the Managing Underwriter or Underwriters of any proposed Underwritten Offering advises Crestwood that the total amount of Registrable Securities that the Selling Holders and any other Persons intend to include in such offering exceeds the number that can be sold in such offering without being likely to have an adverse effect on the price, timing or distribution of the Common Units offered or the market for the Common Units, then the Common Units to be included in such Underwritten Offering shall include the number of Registrable Securities that such Managing Underwriter or Underwriters advises Crestwood can be sold without having such adverse effect, with such number to be allocated, (i) in the case of an Underwritten Offering initiated by Crestwood, (A) first, to Crestwood, (B) second, to any holder of securities of Crestwood having rights of registration that are expressly senior to the Registrable Securities (the “Senior Securities”), (C) third, pro rata among the Selling Holders who have requested participation in such Underwritten Offering and any other holder of securities of Crestwood having rights of registration that are neither expressly senior nor subordinated to the Registrable Securities (the “Parity Securities”), and (D) fourth, pro rata among any other holders of securities of Crestwood having registration rights, and (ii) in the case of an Underwritten Offering by any other holders of securities of Crestwood having registration rights (the “Other Holders”), (A) first, pro rata among the Other Holders, (B) second, pro rata among any other holder of Senior Securities, (C) third, pro rata among the Selling Holders who have requested participation in such Underwritten Offering and any other holder of Parity Securities, (C) fourth, to Crestwood and (D) fifth, pro rata among any other holders of securities of Crestwood having registration rights. The pro rata allocations for each Selling Holder who has requested participation in such Underwritten Offering shall be the product of (1) the aggregate number of Registrable Securities proposed to be sold in such Underwritten Offering by the Selling Holders multiplied by (2) the fraction derived by dividing (x) the number of Registrable Securities owned by such Selling Holder by (y) the aggregate number of Registrable Securities owned by all Selling Holders plus the aggregate number of Parity Securities owned by all holders of Parity Securities that are participating in the Underwritten Offering.
Priority Rights. Due to logistical constraints existing at the Port of Palm Beach, DISTRICT herewith provides certain priorities to CRUISES, as follows:
Priority Rights. During the advance notice period as described in Article 4.5 (b), Employees who are so affected will have priority rights to fill any posted vacancy of an equivalent or lower classification level, provided they are qualified, with the Employee with the greatest employment seniority having first priority rights.
4.6 The Employer agrees that Regular Employees may apply for and receive tuition reimbursement consistent with the terms and conditions of the Tuition Reimbursement Program set out as Corporate Policy 300-24. Where a Regular Employee voluntarily resigns within one (1) year of reimbursement of tuition, the Employee shall reimburse 50% of the Employer-paid portion of Tuition Assistance.
4.7 The Employer and the Union agree there shall be no discrimination, interference, restriction or coercion exercised or practiced with respect to employment or conditions of employment against a person as provided under the Ontario Human Rights Code, R. S. O. 1990, c. H.19 and there shall be no discrimination for Union activity.
4.8 Substance abuse is a serious medical and social problem which can affect Employees, their families and the safety of the individual and fellow workers. The Employer and the Union actively promote and encourage early diagnosis and treatment which assists Employees towards full rehabilitation.
4.9 In the event there is a merger with another Employer, Company or Companies, in which the covered Employees therein are represented by another Union, the representation rights and the Collective Agreement and the status quo of Local 636 IBEW members shall be maintained in respect of those members until a final determination is made under the Labour Relations Act of Ontario or any successor organization as to the proper representation of the combined group.
4.10 Should the Employer merge, amalgamate, or combine any of its operations or functions with another Employer, Company or Companies, the Employer agrees to give the Union as much notice as practically possible prior to any intent by the Employer to implement the above.
4.11 In the event of organizational re-structuring, Enersource will observe all of the terms and conditions of the Collective Agreement, seniority will be retained and Employees will remain able to apply for any posted position
4.12 This Agreement shall be binding upon the Parties hereto, their Successors, Administrators, Executors and Assigns.
Priority Rights. During the advance notice period, as described in Article employees who are so affected will have priority rights to fill any posted vacancy of an equivalent or lower classification level, provided they are qualified, with the employee with the greatest employment seniority having first priority rights. Should the posted vacancy be at a level lower than the employee's technologically-impacted position, the employee will retain current rate of pay and current wage range. In addition, the employee will receive future general increases and step increases in accordance with the Collective Agreement.
Priority Rights. The conveyance by the Seller of the Priority Rights pursuant to this agreement for the operation of satellites and/or ancillary terrestrial component systems in the DBSD Territory, and the granting of covenants regarding interference with such operations, as contemplated in Section 8.1 of the License Agreement, will not conflict with or result in any breach of any agreement to which the Seller is a party or by which the Seller is bound (including without limitation all agreements with ▇▇▇ and ▇▇▇▇▇▇▇▇ (Pty) Ltd.).
Priority Rights. In the event that Party A develops new testing program(s) in the future, Party A agrees that Party B shall have the right of first refusal to the license of such program(s) in the United States. 優先權：甲方未來如有開發新檢測項目，甲方同意美國地區之授權，由乙方取得優先議約之權利。
Priority Rights. Those discipline rights based on years of service within the discipline. They are one of the elements used in establishing a rotational system for determining schedules, overload, and extra-duty. Priority rights have no role within the staff reduction process.
Priority Rights. 6.1.1. Employers undertake to grant employees who are full members of Efling in the union area in question priority rights to all general manual labour when such is required, and such is offered to members who are fully qualified for the work in question.
6.1.2. Employers always have a free choice regarding which members of the relevant unions they shall recruit. If an employer wishes to employ a person who is not a member of Efling, the union in question shall be obliged to admit that person if he/she applies for such and if it does not conflict with the articles of association of the company.
6.1.3. In the event of a shortage of personnel for work, Efling undertakes to grant the members of the Confederation of Icelandic Enterprises the right of priority to recruit full members, provided that the board of the company gives notice regarding the shortage of personnel.
Priority Rights. 6.1.1 Employers shall undertake to allow workers that are full members of the relevant union to have priority for general labouring work, when this is demanded and where members are available and are fully competent for the work in question.
6.1.2 Employees always have a free choice as to which members of the union in question they employ. If an employee wishes to employ a person for work who is not a full member, then the union shall be obliged to grant this person membership if he applies for it and if it is not contrary to the union’s articles of association.
Priority Rights. Heritage Fields rights to use of soccer fields, and rights to veto mitigation opportunities in the Wildlife Corridor have been terminated ⮚Marine Way Responsibility: City assumes more active role in implementation of Marine Way ❖Relief from Current Development Obligations: ✓ Expenditure Obligation Satisfied: $204 Million Spent on ALA II.2 Improvements, Exceeds “Minimum Investment” Requirement by $32 Million ✓ ALA II Obligations Released: Golf Course, Lower Bosque, Maintenance Building, and Additional Allowance Obligations Released • City Receives $18 M for Cultural Terrace