Common use of Priority on Piggyback Filings Clause in Contracts

Priority on Piggyback Filings. In connection with an underwritten Piggyback Filing, if the managing underwriter or underwriters advise Xxxxx in writing that, in its or their reasonable opinion, the inclusion of the number of securities proposed to be registered or qualified exceeds the number which can be sold in such offering at the requested price per share, Xxxxx will include in such registration or qualification the number of securities which, in the reasonable opinion of such underwriter or underwriters, can be sold as follows: (i) first, the Common Shares Xxxxx proposes to sell for its own account or if the registration or qualification is in response to a Demand Filing right of a Person (other than CLGI) whose registration rights exist as of the date hereof and require such a priority, the securities that the Person(s) demanding such registration or qualification propose or proposes to sell to the extent of such a priority, (ii) second, the Subject Securities requested to be included in such registration or qualification and any securities requested to be included in such registration or qualification by a Person who exercises its rights to have its securities included in such registration or qualification pursuant to this Agreement pro rata among them and (iii) third, other Common Shares requested to be included in such registration or qualification.

Priority on Piggyback Filings. In connection with an underwritten Piggyback Filing, if the managing underwriter or underwriters advise Xxxxx in writing that, in its or their reasonable opinion, the inclusion of the number of securities proposed to be registered or qualified exceeds the number which can be sold in such offering at the requested price per share, Xxxxx will include in such registration or qualification the number of securities which, in the reasonable opinion of such underwriter or underwriters, can be sold as follows: (i) firsti)first, the Common Shares Xxxxx proposes to sell for its own account or if the registration or qualification is in response to a Demand Filing right of a Person (other than CLGI) whose registration rights exist as of the date hereof and require such a priority, the securities that the Person(s) demanding such registration or qualification propose or proposes to sell to the extent of such a priority, (ii) secondii)second, the Subject Securities requested to be included in such registration or qualification and any securities requested to be included in such registration or qualification by a Person who exercises its rights to have its securities included in such registration or qualification pursuant to this Agreement pro rata among them and (iii) thirdiii)third, other Common Shares requested to be included in such registration or qualification.