General Resale Registration Statement Sample Clauses
The General Resale Registration Statement clause establishes the obligation or right for a company to register securities for resale by certain holders, typically investors or shareholders. In practice, this means the company must file a registration statement with the relevant securities regulator, such as the SEC, to allow these holders to publicly sell their shares without restrictions that would otherwise apply to unregistered securities. This clause is essential for providing liquidity to investors, ensuring they have a clear and legal pathway to resell their securities in the public market.
General Resale Registration Statement. Notwithstanding anything to the contrary in this Agreement, the Borrower’s obligations under Section 3, and any related obligations of the Borrower under Section 7, will terminate (and, for the avoidance of doubt, the Borrower will thereafter have no obligation to file, keep effective or usable, or amend or make and other filings with respect to, the General Resale Registration Statement or any other General Resale Registration Statement Document) upon the earlier of (i) a Fundamental Change, the result of which the Company is “taken private,” ceasing to be subject to ongoing securities law and relevant SEC reporting requirements under Section 12(g) of the Exchange Act (a “Take-Private Transaction”) and (ii) the first date on which no Registrable Securities are outstanding.
General Resale Registration Statement