Common use of Lock-Up Releases Clause in Contracts

Lock-Up Releases. If the Representative, in its sole discretion, agrees to release or waive the restrictions set forth in a lock-up letter described in Section 4(p) hereof for an officer or director of the Company, 5% stockholder or holder of the Company’s Series B preferred stock 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, or any other method that satisfies the obligations described in FINRA Rule 5131(d)(2) at least two Business Days before the effective date of the release or waiver.

Lock-Up Releases. If Upon the request of the Company, the Representative, in its sole discretion, agrees may release the Common Stock and other Company’s securities subject to release or waive the lock-up restrictions set forth in a lock-up letter described in Section 4(p) hereof for an officer or director of the Company, 5% stockholder or holder of Company and the Company’s Series B preferred stock Lock-Up Parties and provides provide the Company with notice of the impending release or waiver at least three business days 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 D hereto through a major news service at least two Business Days before the effective date of such release or waiver, or any other method that satisfies the obligations described in FINRA Rule 5131(d)(2) at least two Business Days before the effective date of the release or waiver.