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Common use of HOLDER'S HOLDBACK OBLIGATIONS Clause in Contracts

HOLDER'S HOLDBACK OBLIGATIONS. Each Participating Stockholder agrees not to effect any public sale or distribution of Registrable Securities, or any securities convertible, exchangeable or exercisable for or into Registrable Securities during the seven days prior to, and the 180-day period beginning on, the effective date of any underwritten Demand Registration or any underwritten Piggyback Registration in which such Participating Stockholder had an opportunity to participate without cutback under Article II hereof (in each case except as part of such underwritten registration), unless the managing underwriter of such underwritten registration otherwise agrees.

Appears in 5 contracts

Samples: Annual Report, Registration Rights Agreement (Qad Inc), Rights Agreement (Lih Holdings LLC)