Common use of Priority of Registration Rights Clause in Contracts

Priority of Registration Rights. If the managing underwriter or underwriters of any proposed Underwritten Offering pursuant to a Demand Registration informs the Holders of Registrable Securities sought to be included in such Underwritten Offering in writing that, it or they have determined in good faith that, the total amount or kind of securities 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 market for the class of securities offered, then the securities to be included in such registration shall be allocated as follows:

Priority of Registration Rights. If the managing underwriter or underwriters of any proposed Underwritten Offering pursuant to a Demand the Shelf Registration Statement informs the Holders of Registrable Securities sought to be included in such Underwritten Offering in writing that, it or they have determined in good faith that, the total amount or kind of securities 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 market for the class of securities offered, then the securities to be included in such registration shall be allocated as follows: