Common use of Delay Limitation Clause in Contracts

Delay Limitation. If the Company shall furnish to Investors initiating the S-3 Registration Request a certificate signed by the Company’s Chief Executive Officer or Chairman of the Board of Directors stating that in the good faith judgment of the Board of Directors of the Company that at the time requested it would be materially detrimental to the Company and its stockholders for such S-3 Registration to be effected at such time, then the Company shall have the right to defer such S-3 Registration Request for a period of not more than one hundred twenty (120) days after receipt of the S-3 Registration Request, provided that such right to delay an S-3 Registration Request shall be exercised by the Company not more than once in any twelve (12)-month period.

Delay Limitation. If the Company shall furnish to Investors initiating the S-3 S-1 Registration Request Request, a certificate signed by the Company’s Chief Executive Officer or Chairman of the Board of Directors stating that in the good faith judgment of the Board of Directors of the Company that at the time requested it would be materially detrimental to the Company and its stockholders for such S-3 S-1 Registration to be effected at such time, then the Company shall have the right to defer such S-3 S-1 Registration Request for a period of not more than one hundred twenty (120) days after receipt of the S-3 S-1 Registration Request, provided that such right to delay an S-3 S-1 Registration Request shall be exercised by the Company not more than once in any twelve (12)-month period.