Common use of Deferral and Suspension Clause in Contracts

Deferral and Suspension. At anytime after receiving a Demand Notice or after any Demand Registration Statement has become effective, the Company may, upon giving prompt written notice of such action to Lavazza, defer the filing of or suspend the use of any such Demand Registration Statement if, in the good faith judgment of the Company, the filing or use of a registration statement covering the Registrable Securities would be detrimental to the Company or its shareholders at such time and the Company concludes, as a result, that it is in the best interests of the Company or its shareholders to defer the filing or suspend the use of such Demand Registration Statement at such time. The Company shall have the right to defer the filing of or suspend such Demand Registration Statement for a period of not more than one hundred twenty (120) days from the date the Company notifies Lavazza of such deferral or suspension. In the case of the suspension of any effective Demand Registration Statement, Lavazza, immediately upon receipt of notice thereof from the Company, will discontinue any sales of Registrable Securities pursuant to such Demand Registration Statement until advised in writing by the Company that the use of such Demand Registration Statement may be resumed. In the case of a deferred Demand Registration Statement, the Company shall provide prompt written notice to Lavazza of (i) the Company’s decision to file or seek effectiveness of the Demand Registration Statement following such deferral and (ii) the effectiveness of such

Appears in 3 contracts

Samples: Registration Rights Agreement, Registration Rights Agreement (Green Mountain Coffee Roasters Inc), Registration Rights Agreement (Luigi Lavazza S.p.A.)

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Deferral and Suspension. At anytime any time after receiving a Demand Notice Request or after any Demand the Registration Statement has become effective, the Company may, upon giving prompt written notice of such action to Lavazza, may defer the filing of or suspend the use of any such Demand Registration Statement if, upon giving written notice of such action to the Investors with a certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the CompanyBoard of Directors, the filing or use of a registration statement the Registration Statement covering the Registrable Securities would be seriously detrimental to the Company or its shareholders stockholders at such time and that the Company Board of Directors concludes, as a result, that it is in the best interests of the Company or its shareholders stockholders to defer the filing or suspend the filing or suspend the use of such Demand Registration Statement at such time. The Company shall have the right to defer the filing of or suspend the use of such Demand Registration Statement for a period of not more than up to an aggregate of one hundred twenty (120) days from the date the Company notifies Lavazza the Investors of such deferral or suspensionsuspension in any twelve (12) month period; provided, that the Company may not invoke this right more than once in any twelve (12) month period. In the case of the suspension of use of any effective Demand Registration Statement, Lavazzathe Investors, immediately upon receipt of notice thereof from the Company, will shall discontinue any sales of Registrable Securities pursuant to such Demand Registration Statement until advised in writing by the Company that the use of such Demand Registration Statement may be resumed. In the case of a deferred Demand Registration Statement, the Company shall provide prompt written notice to Lavazza the Investors of (i) the Company’s decision to file or seek effectiveness of the Demand Registration Statement following such deferral and (ii) the effectiveness of suchsuch Registration Statement.

Appears in 1 contract

Samples: Registration Rights Agreement (Pure Bioscience, Inc.)

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