Common use of Demand Rights Clause in Contracts

Demand Rights. At any time after the date hereof but expiring on the second anniversary date hereof ("Demand Registration Period"), but subject to the provisions of Section 3.1(c), below, at the written demand of Requesting Holders and on one (1) occasion only, PEC shall prepare, file with the Commission and use its best efforts to have declared effective a registration statement with respect to the distribution of up to all of the Registrable Securities, provided that the number of Registrable Securities. Such demand shall be made by written notice to PEC by Requesting Holders holding at least a majority of the Registrable Securities, which notice shall (i) request the preparation of the registration statement pursuant to the terms of this Section 3.1, (ii) include the number of Registrable Securities to be offered by Holders of Registrable Securities pursuant to such registration statement and (iii) be sent to all other Holders. PEC may include in such registration any securities of PEC for sale by PEC or persons other than PEC, and such registration shall be deemed to be an incidental registration pursuant to Section 3.2 hereof with Holders having the priority with respect to the Registrable Securities.

Demand Rights. At any time after the date hereof but expiring on the second third anniversary date hereof ("Demand Registration Period"), but subject to (a) prior exercise of the Stock Purchase Warrant and payment in full to PEC of the exercise price for the Warrant Shares, and (b) the provisions of Section 3.1(c4.1(c), below, at the written demand of Requesting Holders and on one (1) occasion only, PEC shall prepare, file with the Commission and use its best efforts to have declared effective a registration statement with respect to the distribution of up to all of the Registrable Securities, provided that the number of Registrable SecuritiesWarrant Shares. Such demand shall be made by written notice to PEC by Requesting Holders holding at least a majority of the Registrable SecuritiesWarrant Shares, which notice shall (i) request the preparation of the registration statement pursuant to the terms of this Section 3.14.1, (ii) include the number of Registrable Securities Warrant Shares to be offered by Holders of Registrable Securities Warrant Shares pursuant to such registration statement and (iii) be sent to all other Holders. PEC may include in such registration any securities of PEC for sale by PEC or persons other than PEC, and such registration shall be deemed to be an incidental registration pursuant to Section 3.2 4.2 hereof with Holders having the priority with respect to the Registrable SecuritiesWarrant Shares.