definiens: ), then Columbia and/or its Assignee ( as definedbelow ) will have the right to purchase up to [ * ] of the New Securities on the same terms and conditions as are offeredto the other purchasers in each such financing . Company shall provide [ * ] written notice in advance of the closing ofeach such financing, including reasonable detail regarding the terms and purchasers in the financing . If all NewSecurities offered to Columbia are not elected to be purchased or acquired as provided in the immediately precedingsentence, the Company may, during the [ * ] following the expiration of the [ * ] provided in the immediately precedingsentence, offer and sell the remaining unsubscribed portion of such New Securities to any purchaser at a price notless than, and upon terms no more favorable to the offeree than, those specified in the notice to Columbia . If theCompany does not enter into an agreement for the sale of the New Securities within such [ * ], or if such agreement isnot consummated within [ * ] of the execution thereof, the right provided hereunder shall be deemed to be revived andsuch New Securities shall not be offered unless first reoffered to Columbia in accordance with this Section 4(j)(iii ) . Asused herein, the term means ( A ) any entity to which the University ’s participation rights under this sectionhave been assigned either by Columbia or another entity ( solely as permitted pursuant to the assignment clause setforth in this Agreement ), or ( B ) any entity that is controlled by Columbia, provided that any such Assignee is not acompetitor of the Company ( asreasonably determined by the Company ’s Board of Directors ) . A venture or investmentfund shall not be deemed to be a competitor of the Company by reason of its ownership of equity of entities thatcompete with the Company