Common use of Company Suspension Clause in Contracts

Company Suspension. Notwithstanding anything in this Agreement to the contrary, if, after any registration statement to which the rights hereunder apply becomes effective (and prior to completion of any sales thereunder), the Company’s Board of Directors determines in good faith that the failure of the Company to (i) suspend sales of stock under the registration statement or (ii) amend or supplement the registration statement, would be seriously detrimental to the Company as described in Section 1.1.3 hereof, the Company shall so notify each Holder participating in such registration and each Holder shall suspend any further sales under such registration statement until the Company advises such Holders that the registration statement has been amended or that conditions no longer exist which would require such suspension, provided that (x) the Company may impose any such suspension for no more than ninety (90) days (inclusive of any days for which a registration request has been delayed pursuant to Section 1.1.3 during the past twelve months) and no more than once during any twelve month period and (y) the Company shall use its best efforts to amend the registration statement or otherwise take action to permit sales thereunder as soon as practicable.

Company Suspension. Notwithstanding anything in this Agreement to the contrary, if, after any registration statement to which the rights hereunder apply becomes effective (and prior to completion of any sales thereunder), the Company’s Board board of Directors directors determines in good faith that the failure of the Company to (ia) suspend sales of stock under the registration statement or (iib) amend or supplement the registration statement, would be seriously detrimental to the Company (and the chief executive officer of the Company provides a signed certificate to that effect to the holders requesting such registration) because it would (i) necessitate the untimely disclosure of a proposed transaction or (ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as described in Section 1.1.3 hereofconfidential, the Company shall so notify each Holder holder participating in such registration and each Holder holder, including the Investor, shall suspend any further sales under such registration statement until the Company advises such Holders holders that the registration statement has been amended or that conditions no longer exist which would require such suspension, provided that (x) the Company may impose any such suspension for no more than ninety (90) days (inclusive of any days for which a registration request has been delayed pursuant to this Section 1.1.3 1.3.1 during the past twelve months) and no more than once during any twelve month period and (y) the Company shall use its best efforts to amend the registration statement or otherwise take action to permit sales thereunder as soon as practicable.