Common use of Basic Right Clause in Contracts

Basic Right. At any time during the period commencing on the issuance date of the Shares under this Agreement ("Issue Date") and ending two years after the Issue Date, the Company proposes to register any of its equity securities under the Securities Act, other than in an offering on Form S-8 or Form S-4 or any successor form, it shall at least 10 days prior to the filing of such registration statement with the Securities and Exchange Commission (the "Commission") give notice of its intention to do so to Subscriber. If Subscriber notifies the Company within 5 days of the date of the Company notice of filing a registration statement of Subscriber's desire to include any Shares in such proposed registration statement, the Company shall, subject to the provisions of 2.2.6.2 below, include the Shares designated by Subscriber in such registration statement. Anything in this subparagraph 2.2.6.1 to the contrary notwithstanding, the "piggyback" registration rights described herein shall be available for exercise by Subscriber on one occasion only and, after the exercise thereof in accordance with the provisions set forth herein, the Company shall be under no further obligation to give Subscriber the notice described in this subparagraph 2.2.6.1 to include any of the Shares in any subsequent registration statement. The Company hereby informs Subscriber that it has a present intention to file an S-1 Registration within 45 days after acceptance hereof and shall use its best efforts to cause such registration statement to become effective as soon as possible.

Basic Right. At any time during the period commencing on the issuance date of the Shares under this Agreement ("Issue Date") and ending two years after the Issue Date, the Company proposes to register any of its equity securities under the Securities Act, other than in an offering on Form S-8 or Form S-4 or any successor form, it shall at least 10 days prior to the filing of such registration statement with the Securities and Exchange Commission (the "Commission") give notice of its intention to do so to Subscriber. If Subscriber notifies the Company within 5 days of the date of the Company notice of filing a registration statement of Subscriber's desire to include any Shares in such proposed registration statement, the Company shall, subject to the provisions of 2.2.6.2 below, include the Shares designated by Subscriber in such registration statement. Anything in this subparagraph 2.2.6.1 to the contrary notwithstanding, the "piggyback" registration rights described herein shall be available for exercise by Subscriber on one occasion only and, after the exercise thereof in accordance with the provisions set forth herein, the Company shall be under no further obligation to give Subscriber the notice described in this subparagraph 2.2.6.1 to include any of the Shares in any subsequent registration statement. The Company hereby informs Subscriber that it has a present intention to file an S-1 Registration within 45 days after acceptance hereof and shall use its best efforts to cause such registration statement to become effective as soon as possible.