Common use of BUY-OUTS OF REGISTRATION DEMAND Clause in Contracts

BUY-OUTS OF REGISTRATION DEMAND. In lieu of carrying out its obligations to effect the Piggyback Registration of Registrable Securities pursuant to this Article VII, the Company may discharge such obligation by offering to purchase and, if accepted, by purchasing such Registrable Securities requested to be registered at 95% of the closing bid or sale price of the Common Stock on the day the request or demand for Registration is made. If the offer to purchase is accepted by the Holder, payment will be made by wire transfer or certified check in U.S. dollars within ten (10) business days of receipt by the Company of written acceptance by such Holder, accompanied by the stock certificate representing such shares duly endorsed to the Company.

BUY-OUTS OF REGISTRATION DEMAND. In lieu of carrying out its obligations to effect the Piggyback Registration or the Demand Registration of Registrable Securities pursuant to this Article VII, the Company may discharge such obligation by offering to purchase and, if accepted, by purchasing such Registrable Securities requested to be registered at 95% of the closing bid or sale price of the Common Stock on the day the request or demand for Registration is made. If the offer to purchase is accepted by the Holder, payment will be made by wire transfer or certified check in U.S. dollars within ten (10) business days of receipt by the Company of written acceptance by such Holder, accompanied by the stock certificate representing such shares duly endorsed to the Company.