Common use of Lock-Up Releases Clause in Contracts

Lock-Up Releases. If the Underwriters, in their sole discretion, agree to release or waive the restrictions set forth in a lock-up letters described in Section 5(j) hereof for an officer or director of the Company and provides the Company with notice of the impending release or waiver at least three business days before the effective date of the release or waiver, the Company agrees to announce the impending release or waiver by a press release substantially in the form of Exhibit B hereto through a major news service at least two business days before the effective date of such release or waiver.