Common use of Delay Periods; Suspension of Sales Clause in Contracts

Delay Periods; Suspension of Sales. (a) If at any time prior to the expiration of the Effectiveness Period, counsel to the Company (which counsel shall be experienced in securities laws matters) has determined in good faith that the filing of the Shelf Registration Statement or the compliance by the Company with its disclosure obligations in connection with the Shelf Registration Statement would require the disclosure of material information which the Company has a bona fide business purpose for preserving as confidential, then the Company may delay the filing of the Shelf Registration Statement (if not then filed) and shall not be required to maintain the effectiveness thereof or amend or supplement the Shelf Registration Statement for a period (an "Information Delay Period") expiring upon the earlier to occur of (A) the date on which such material information is disclosed to the public or ceases to be material or the Company is able to so comply with its disclosure obligations and Commission requirements or (B) 30 days after counsel to the Company makes such good faith determination. There shall not be more than four Information Delay Periods during the Effectiveness Period, and there shall not be two Information Delay Periods during any contiguous 90 day period.

Delay Periods; Suspension of Sales. (a) If at any time prior to the expiration of the Effectiveness Period, counsel to the Company (which counsel shall be experienced in securities laws matters) has determined in good faith that it is reasonable to conclude that the filing of the Shelf Registration Statement a registration statement pursuant to Section 2.1(a) or the compliance by the Company with its disclosure obligations in connection with the Shelf Registration Statement would such registration statement may require the disclosure of material information which the Board of Directors of the Company has identified as material and which the Board of Directors has determined that the Company has a bona fide BONA FIDE business purpose for preserving as confidential, then the Company may delay the filing or the effectiveness of the Shelf Registration Statement such registration statement (if not then filedfiled or effective, as applicable) and shall not be required to maintain the effectiveness thereof or amend or supplement the Shelf Registration Statement such registration statement for a period (an "Information Delay Period") expiring upon three business days after the earlier to occur of (A) the date on which such material information is disclosed to the public or ceases to be material or the Company is able to so comply with its disclosure obligations and Commission requirements or (B) 30 up to 90 days after counsel to the Company makes notifies the Holders of the Shares included therein of such good faith determination. There shall not be more than four Each such Information Delay Periods Period begun during the Effectiveness Period shall suspend the Effectiveness Period until the end of each such Information Delay Period, and there . There shall not be permitted no more than two Information Delay Periods during any contiguous 90 day twelve month period.

Delay Periods; Suspension of Sales. (a) If at any time prior to the expiration of the Effectiveness Period, Period counsel to the Company (which counsel shall be experienced in securities laws matters) has determined in good faith (which determination is rendered in the form of an opinion of such counsel) that it is reasonable to conclude that the filing of the Shelf Registration Statement or the compliance by the Company with its disclosure obligations in connection with the Shelf Registration Statement would may require the disclosure of material information which the Board of Directors of the Company has identified as material and which the Board of Directors has determined that the Company has a bona fide BONA FIDE business purpose for preserving as confidential, then the Company may delay the filing or the effectiveness of the Shelf Registration Statement (if not then filedfiled or effective, as applicable) and shall not be required to maintain the effectiveness thereof or amend or supplement the Shelf Registration Statement for a period (an "Information Delay Period") expiring upon three business days after the earlier to occur of (A) the date on which such material information is disclosed to the public or ceases to be material or the Company is able to so comply with its disclosure obligations and Commission requirements or (B) 30 45 days after counsel to the Company makes notifies the Holders of such good faith determination. There shall not be more than four Information Delay Periods during the Effectiveness Period, and there shall not be two Information Delay Periods during any contiguous 90 135 day period.

Delay Periods; Suspension of Sales. (a) If at any time prior to the expiration of the Effectiveness Period, counsel to the Company (which counsel shall be experienced in securities laws matters) has determined in good faith that it is reasonable to conclude that the filing of the Shelf Registration Statement or the compliance by the Company with its disclosure obligations in connection with the Shelf Registration Statement would may require the disclosure of material information which the Board of Directors of the Company has identified as material and which the Board of Directors has determined that the Company has a bona fide business purpose for preserving as confidential, then the Company may delay the filing or the effectiveness of the Shelf Registration Statement (if not then filedfiled or effective, as applicable) and shall not be required to maintain the effectiveness thereof or amend or supplement the Shelf Registration Statement for a period (an "Information Delay Period") expiring upon three business days after the earlier to occur of (A) the date on which such material information is disclosed to the public or ceases to be material or the Company is able to so comply with its disclosure obligations and Commission requirements or (B) 30 45 days after counsel to the Company makes notifies the Holders of such good faith determination. There shall not be more than four Information Delay Periods during the Effectiveness Period, and there shall not be two Information Delay Periods during any contiguous 90 135 day period.

Delay Periods; Suspension of Sales. (a) If at any time prior to the expiration of the Effectiveness Period, counsel to the Company (which counsel shall be experienced in securities laws matters) has determined in good faith that it is reasonable to conclude that the filing of the Shelf Registration Statement or the compliance by the Company with its disclosure obligations in connection with the Shelf Registration Statement would may require the disclosure of material information which the Board of Directors of the Company has identified as material and which the Board of Directors has determined that the Company has a bona fide business purpose for preserving as confidential, then the Company may delay the filing or the effectiveness of the Shelf Registration Statement (if not then filedfiled or effective, as applicable) and shall not be required to maintain the effectiveness thereof or amend or supplement the Shelf Registration Statement for a period (an "Information Delay Period") expiring upon the earlier to occur of (A) the date on which such material information is disclosed to the public or ceases to be material or the Company is able to so comply with its disclosure obligations and Commission requirements or (B) 30 days after counsel to the Company makes notifies the Holders of such good faith determination. There shall not be more than four three Information Delay Periods during the Effectiveness Period, and there shall not be two Information Delay Periods during any contiguous 90 day period.

Delay Periods; Suspension of Sales. (a) If at any time prior to the expiration of the Effectiveness Period, Period counsel to the Company (which counsel shall be experienced in securities laws matters) has determined in good faith (as evidenced by a written statement to that effect delivered to the Board of Directors of the Company) that it is reasonable to conclude that the filing of the Shelf Registration Statement or the compliance by the Company with its disclosure obligations in connection with the Shelf Registration Statement would may require the disclosure of material information which the Board of Directors of the Company has identified as material and which the Board of Directors has determined that the Company has a bona fide business purpose for preserving as confidential, then the Company may delay the filing or the effectiveness of the Shelf Registration Statement (if not then filedfiled or effective, as applicable) and shall not be required to maintain the effectiveness thereof or amend or supplement the Shelf Registration Statement for a period (an "“Information Delay Period"”) expiring upon three business days after the earlier to occur of (Ai) the date on which such material information is disclosed to the public or ceases to be material or the Company is able to so comply with its disclosure obligations and Commission requirements or (Bii) 30 45 days after counsel to the Company makes notifies the Holders of such good faith determination. There shall not be more than four Information Delay Periods during the Effectiveness Period, and there shall not be two Information Delay Periods during any contiguous 90 135 day period.