Common use of Deferral of Registration Clause in Contracts

Deferral of Registration. Notwithstanding the foregoing, if the Company shall furnish to the Holders requesting a registration statement pursuant to this Section 1.2 a certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company for such registration statement to be filed and it is therefore essential to defer the filing of such registration statement, the Company shall have the right to defer taking action with respect to such filing for a period of not more than one hundred twenty (120) days after receipt of the request of the Initiating Holders; provided, however that the Company may not utilize this right more than twice in any twelve-month period and the Company shall not utilize this right (or the similar right to defer in Section 1.4(b)) for two consecutive one hundred twenty (120) day periods.

Deferral of Registration. Notwithstanding the foregoing, if the Company shall furnish to the Holders requesting a registration statement pursuant to this Section 1.2 1.2, a certificate signed by the President or Chief Executive Officer of the Company stating that that, in the good faith judgment of the Board of Directors of the CompanyCompany (the “Board”), it would be seriously materially detrimental to the Company and its shareholders for such registration statement to be filed and it is therefore essential to defer the filing of such registration statement, then the Company shall have the right to defer taking action with respect to such filing for a period of not more than one hundred twenty (120) 180 days after following receipt of the request of the Initiating Holders; provided, however however, that the Company may not utilize this right more than twice once in any twelve12-month period and period; provided further, that the Company shall not utilize this right register any securities for the account of itself or any other shareholder during such 180 day period (or the similar right to defer in Section 1.4(bother than an Excluded Registration (as defined below)) for two consecutive one hundred twenty (120) day periods).