Common use of Notice of Qualified IPO Clause in Contracts

Notice of Qualified IPO. Within fifteen (15) business days after the Company first submits to, or files with, the SEC a registration statement covering shares of its Common Stock for a Qualified IPO , the Company will notify the Investor in writing (the “Offering Notice”) of the Company’s intent to undertake the Qualified IPO, which shall include, if known at the time of such Offering Notice, (i) the approximate date that the Company expects to print and distribute preliminary prospectuses relating to the Qualified IPO, (ii) the anticipated closing date of the Qualified IPO and (iii) the actual number of shares of Common Stock to be allocated to the Investor. The Company and the Investor acknowledge that the schedule will be based upon the Company’s reasonable best estimate at the time of the Offering Notice but that such schedule is subject to substantial revision based upon market conditions, disclosure issues that may arise during the preparation of the registration statement, interaction with the SEC regarding the registration statement and other factors.