Common use of Effectiveness Period Clause in Contracts

Effectiveness Period. The Company will maintain the Registration Statement effective under the Securities Act until the earlier of (i) the date that all of the Shares and Ordinary Shares issued upon exercise of the Warrants have been sold pursuant to such Registration Statement, (ii) the date the Investors receive an opinion from counsel to the Company, which counsel shall be reasonably acceptable to the Investors, that the Shares may be sold under the provisions of Rule 144 without limitation as to volume, (iii) the date that all Shares have been otherwise transferred to persons who may trade such shares without restriction under the Securities Act, and the Company has delivered a new certificate or other evidence of ownership for such Shares not bearing a restrictive legend, or (iv) thirty-six (36) months from the Effective Date.

Effectiveness Period. The Company will maintain the Registration Statement effective under the Securities Act until the earlier of (i) the date that all of the Shares and Ordinary Shares issued upon exercise of the Warrants have been sold pursuant to such Registration Statement, (ii) the date the Investors receive an opinion from counsel to the Company, which counsel shall be reasonably acceptable to the Investors, that the Shares may be sold under the provisions of Rule 144 without limitation as to volume, (iii) the date that all Shares have been otherwise transferred to persons who may trade such shares without restriction under the Securities Act, and the Company has delivered a new certificate or other evidence of ownership for such Shares not bearing a restrictive legend, or (iv) thirty-six eighteen (3618) months from the Effective Date.