Common use of Demand by Holders Clause in Contracts

Demand by Holders. If, on or at any time after the Effectiveness Date, the Shelf Registration Statement is not effective under the Securities Act or is not available for use by the holders, then at any time thereafter the holders of not less than 25% of any class of Registrable Securities may make a written request to the Company for Registration of Registrable Securities held by such holders and any other holders of Registrable Securities; PROVIDED that the estimated market value or stated value of the Registrable Securities to be so Registered is at least $10 million in the aggregate at the time such request is made. Any such requested Registration shall hereinafter be referred to as a "DEMAND REGISTRATION." Each request for a Demand Registration shall specify the kind and aggregate amount of Registrable Securities to be Registered and the intended methods of disposition thereof. Within thirty days of a request for a Demand Registration, the Company shall file a Registration Statement relating to such Demand Registration (a "DEMAND REGISTRATION STATEMENT"), and shall use its best efforts to cause such Demand Registration Statement to promptly be declared effective under the Securities Act.

Demand by Holders. If, on or at any time after the Effectiveness Date, the Filing Date there is no currently effective Shelf Registration Statement is not effective under the Securities Act or is not available for use by the holderson file, then at any time thereafter the holders of not less than 2510% of any class of Registrable Securities may make a written request to the Company for Registration of all of the Registrable Securities held by such holders and any other holders of Registrable Securities; PROVIDED holders, provided that the estimated market value or stated value of the Registrable Securities to be so Registered is at least $10 million in the aggregate aggregate, or any part of the Registrable Securities held by them, provided that the estimated market value of the Registrable Securities to be so Registered is at least $20 million in the time such request is madeaggregate. Any such requested Registration registration shall hereinafter be referred to as a "DEMAND REGISTRATIONDemand Registration." Each request for a Demand Registration shall specify the kind and aggregate amount of Registrable Securities to be Registered registered and the intended methods of disposition thereof. Within thirty days of a Upon such request for a Demand Registration, the Company shall file a Registration Statement relating to such Demand Registration (a the "DEMAND REGISTRATION STATEMENTDemand Registration Statement"), and shall use its reasonable best efforts promptly to cause to become effective the Registration of such Demand Registration Statement to promptly be declared effective under Registrable Securities (and all other Registrable Securities which the Securities Act.Company has been

Demand by Holders. If, on or at any time after the Effectiveness Date, the Shelf Registration Statement is not effective under the Securities Act or is not available for use by the holdersholders for a period exceeding 30 days, then at any time thereafter the holders of not less 5 7 than 2535% of any class of Registrable Securities may make a written request to the Company for Registration of Registrable Securities held by such holders and any other holders of Registrable Securities; PROVIDED provided, that the estimated market value or stated value of the Registrable Securities to be so Registered is at least $10 million in the aggregate at the time such request is made. Any such requested Registration shall hereinafter be referred to as a "DEMAND REGISTRATIONDemand Registration." Each request for a Demand Registration shall specify the kind and aggregate amount of Registrable Securities to be Registered and the intended methods of disposition thereof. Within thirty 30 days of a request for a Demand Registration, the Company shall file a Registration Statement relating to such Demand Registration (a "DEMAND REGISTRATION STATEMENTDemand Registration Statement"), and shall use its reasonable best efforts to cause such Demand Registration Statement to promptly be declared effective under (i) the Securities ActAct and (ii) the "Blue Sky" laws of such jurisdictions as any holder of Registrable Securities being registered under such Registration or any underwriter, if any, reasonably requests.

Demand by Holders. If, on or at any time after the Effectiveness Date, the Shelf Registration Statement is not effective under the Securities Act or is not available for use by the holders, then at any time thereafter the holders of not less than 25% of any class of Registrable Securities may make a written request to the Company for Registration of Registrable Securities held by such holders and any other holders of Registrable Securities; PROVIDED provided that the estimated market value or stated value of the Registrable Securities to be so Registered is at least $10 million in the aggregate at the time such request is made. Any such requested Registration shall hereinafter be referred to as a "DEMAND REGISTRATIONDemand Registration." Each request for a Demand Registration shall specify the kind and aggregate amount of Registrable Securities to be Registered and the intended methods of disposition thereof. Within thirty days of a request for a Demand Registration, the Company shall file a Registration Statement relating to such Demand Registration (a "DEMAND REGISTRATION STATEMENTDemand Registration Statement"), and shall use its best efforts to cause such Demand Registration Statement to promptly be declared effective under the Securities Act.