Common use of Company’s Right to Defer Registration Clause in Contracts

Company’s Right to Defer Registration. If the Company is ------------------------------------- requested to effect a Demand Registration and the Company furnishes to the Investor requesting such registration a copy of a resolution of the Board certified by the secretary of the Company stating that (A)(i) the Company has commenced a financing plan involving an Underwritten Offering, and (ii) the Company's underwriter has notified the Company that it has reasonably determined that a registration at the time and on the terms requested would materially and adversely affect such Underwritten Offering, or (B) such registration would result in premature disclosure of material pending corporate developments, which premature disclosure would reasonably be expected to have a material adverse effect on such developments, the Company shall have the right to defer such filing for a period of not more than 90 days after receipt of the request for such registration from such Investor. If the Company shall so postpone the filing of a registration statement and if the Investor within 30 days after receipt of the notice of postponement advises the Company in writing that such Investor has determined to withdraw such request for registration, then such Demand Registration shall be deemed to be withdrawn and the Company shall pay all Registration Expenses in connection with such withdrawn registration pursuant to Section 3(d) hereof. Notwithstanding the foregoing, the Company shall not be permitted to defer requested registration in reliance on this Section 3(b) more than once in any 12-month period.

Company’s Right to Defer Registration. If the Company is ------------------------------------- requested to effect a Demand Registration and the Company furnishes to the Investor Holders requesting such registration Demand Registration a copy of a resolution of the Board certified by the secretary of the Company stating that (A)(i) in the good faith judgment of the Board it would be seriously detrimental to the Company has commenced a financing plan involving an Underwritten Offering, and (ii) the Company's underwriter has notified the Company that it has reasonably determined that a registration at the time and on the terms requested would materially and adversely affect such Underwritten Offering, or (B) its stockholders for such registration would result in premature disclosure statement to be filed and it is therefore essential to defer the filing of material pending corporate developments, which premature disclosure would reasonably be expected to have a material adverse effect on such developmentsregistration statement, the Company shall have the right to defer such filing for a period of not more than 90 ninety (90) days after receipt of the request for such registration from the Requesting Holder; provided that, in such Investorevent, the Company may postpone a Demand Registration pursuant hereto only twice in any 365-day period. If the Company shall so postpone the filing of a registration statement Demand Registration and if the Investor Requesting Holder within 30 thirty (30) days after receipt of the notice of postponement advises the Company in writing that such Investor the Requesting Holder has determined to withdraw such request for registration, then such Demand Registration shall be deemed to be withdrawn and such request shall be deemed not to have been exercised for purposes of determining whether the Requesting Holder included in such Demand Registration is required to pay its pro rata portion of the Registration Expenses pursuant to Section 3(d) hereof and the Company shall pay all Registration Expenses in connection with such withdrawn registration pursuant to Section 3(d) hereof. Notwithstanding the foregoing, the Company shall not be permitted to defer requested registration in reliance on this Section 3(b) more than once in any 12-month periodDemand Registration.

Company’s Right to Defer Registration. If the Company is ------------------------------------- requested to effect receives a Demand Registration Notice and the Company furnishes to the Investor requesting such registration Requesting Holder a copy of a resolution of the Board certified by the secretary of the Company stating that (A)(i) in the good faith judgment of the Board it would be materially adverse to the Company has commenced a financing plan involving an Underwritten Offering, and (ii) for such Registration Statement to be filed on or before the Company's underwriter has notified the Company that it has reasonably determined that a registration at the time and on the terms requested date such filing would materially and adversely affect such Underwritten Offering, or (B) such registration would result in premature disclosure of material pending corporate developments, which premature disclosure would reasonably otherwise be expected to have a material adverse effect on such developmentsrequired hereunder, the Company shall have the right to defer such filing for a period of not more than 90 days or, in the case of a deferral following approval by the Board of the filing of a registration statement in connection with a primary offering, for a period of not more than 180 days after receipt of the request for such registration from such Investorregistration. If the Company shall so postpone the filing of a registration statement Registration Statement and if the Investor Requesting Holder within 30 days after receipt of the notice of postponement advises the Company in writing that such Investor it has determined to withdraw such request for registrationDemand Notice, then such Demand Registration shall be deemed to be withdrawn and shall not be deemed to be an exercise of one of the Company shall pay all Registration Expenses in connection with Demand Rights to which such withdrawn registration pursuant to Requesting Holder is entitled under Section 3(d) hereof2(a). Notwithstanding the foregoing, the The Company shall not be permitted to defer requested registration in reliance on use the deferral right provided under this Section 3(b) 2(b), together with any other deferral or suspension of the Company’s obligations under Section 4, more than once twice in any 12-month period.

Company’s Right to Defer Registration. If the Company is ------------------------------------- requested to effect a Demand Registration and the Company furnishes to the Investor requesting such registration a copy of a resolution of the Board certified by the secretary of the Company stating that (A)(i) the Company has commenced a financing plan involving an Underwritten Offering, and (ii) the Company's underwriter has notified the Company that it has reasonably determined that a registration at the time and on the terms requested would materially and adversely affect such Underwritten Offering, or (B) such registration would result in premature disclosure of material pending corporate developments, which premature disclosure would reasonably be expected to have a material adverse effect on such developments, the Company shall have the right to defer such filing for a period of not more than 90 days after receipt of the request for such registration from such Investor. If the Company shall so postpone the filing of a registration statement and if the Investor within 30 days after receipt of the notice of postponement advises the Company in writing that such Investor has determined to withdraw such request for registration, then such Demand Registration shall be deemed to be withdrawn and the Company shall pay all Registration Expenses in connection with such withdrawn registration pursuant to Section 3(d) hereof. Notwithstanding the foregoing, the Company shall not be permitted to defer requested registration in reliance on this Section 3(b) more than once in any 12-month period.

Company’s Right to Defer Registration. If the Company is ------------------------------------- requested to effect a Demand Registration and the Company furnishes to the Investor Holders requesting such registration a copy of a resolution of the Board certified by the secretary of the Company stating that (A)(i) the Company has commenced a financing plan involving an Underwritten Offering, and (ii) the Company's underwriter has notified the Company that it has reasonably determined that a registration at the time and on the terms requested would materially and adversely affect such Underwritten Offering, or (B) such registration would result in premature disclosure of material pending corporate developments, which premature disclosure would reasonably be expected to have a material adverse effect on such developments, the Company shall have the right to defer such filing for a period of not more than 90 days after receipt of the request for such registration from such InvestorDemand Registration. If the Company shall so postpone the filing of a registration statement and if the Investor Holders of a majority of a majority of the Registrable Securities included in such Demand Registration request within 30 days after receipt of the notice of postponement advises the Company in writing that such Investor has Holders have determined to withdraw such request for registration, then such Demand Registration shall be deemed to be withdrawn and the Company shall pay all Registration Expenses in connection with such withdrawn registration pursuant to Section 3(d) hereof. Notwithstanding the foregoing, the Company shall not be permitted to defer requested registration in reliance on this Section 3(b) more than once in any 12-month period.

Company’s Right to Defer Registration. If the Company is ------------------------------------- requested to effect a Demand Registration and the Company furnishes to the Investor requesting such registration a copy of a resolution of the Board certified by the secretary of the Company stating that (A)(i) the Company has commenced a financing plan involving an Underwritten Offering, and (ii) the Company's underwriter has notified the Company that it has reasonably determined that a registration at the time and on the terms requested would materially and adversely affect such Underwritten Offering, or (B) such registration would result in premature disclosure of material pending corporate developments, which premature disclosure would reasonably be expected to have a material adverse effect on such developments, the Company shall have the right to defer such filing for a period of not more than 90 ninety (90) days after receipt of the request for such registration from such Investor. If the Company shall so postpone the filing of a registration statement and if the Investor within 30 thirty (30) days after receipt of the notice of postponement advises the Company in writing that such Investor has determined to withdraw such request for registration, then such Demand Registration shall be deemed to be withdrawn and the Company shall pay all Registration Expenses in connection with such withdrawn registration pursuant to Section 3(d5(d) hereof. Notwithstanding the foregoing, the Company shall not be permitted to defer requested registration in reliance on this Section 3(b) more than once in any 12-month period.