Common use of Priority of Piggyback Registration Clause in Contracts

Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten Offering of a class of Registrable Securities included in a Piggyback Registration informs the Company and the Holders of such class of Registrable Securities in writing that, in its or their opinion, the number of securities of such class which such Holders and any other Persons intend to include in such offering exceeds the number which can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then the securities to be included in such Registration as so determined by the managing underwriter or underwriters (the “Included Securities”) shall be allocated as follows: (i) first, 50% of the aggregate number of securities that the Company proposes to sell; and (ii) second, pro rata among the remaining 50% of the aggregate number of securities that the Company proposes to sell and the number of shares held by Holders requesting to be included in a Piggy-back Registration.

Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten Offering of a class of Registrable Securities included in a Piggyback Registration informs the Company and or the Holders of such class of Registrable Securities in writing that, in its or their opinion, the number of securities of such class which such Holders and any other Persons intend to include in such offering exceeds the number which can be sold in (or during the time of) such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or on the market for the securities offered, then the number of securities to be included in such Registration as so determined by the managing underwriter or underwriters (the “"Included Securities”") shall be allocated as follows: : (i) first, 50% of the aggregate number of any securities that the Company proposes to sell; and (ii) second, pro rata among the remaining 50% Holders in proportion to their respective equity ownership in the Company at the time of the aggregate number of securities that the Company proposes to sell and the number of shares held by Holders requesting to be included in a Piggy-back Registrationoffering.

Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten Offering of a class of Registrable Securities included in a Piggyback Registration informs the Company and or the Holders of such class of Registrable Securities in writing that, in its or their opinion, the number of securities of such class which such Holders and any other Persons intend to include in such offering exceeds the number which can be sold in (or during the time of) such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or on the market for the securities offered, then the number of securities to be included in such Registration as so determined by the managing underwriter or underwriters (the “"Included Securities”") shall be allocated as follows: (i) first, 50% of the aggregate number of any securities that the Company proposes to sell; and (ii) second, pro rata among the remaining 50% Holders in proportion to their respective equity ownership in the Company at the time of the aggregate number of securities that the Company proposes to sell and the number of shares held by Holders requesting to be included in a Piggy-back Registrationoffering.

Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten Offering of a class of Registrable Securities included in a Piggyback Registration informs the Company and or the Holders of such class of Registrable Securities in writing that, in its or their opinion, the number of securities of such class which such Holders and any other Persons intend to include in such offering exceeds the number which can be sold in (or during the time of) such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or on the market for the securities offered, then the number of securities to be included in such Registration as so determined by the managing underwriter or underwriters (the “Included Securities”) shall be allocated as follows: (i) first, 50% of the aggregate number of any securities that the Company proposes to sell; and (ii) second, pro rata among the remaining 50% Holders in proportion to their respective equity ownership in the Company at the time of the aggregate number of securities that the Company proposes to sell and the number of shares held by Holders requesting to be included in a Piggy-back Registrationoffering.