Common use of Priority on Primary Registration Clause in Contracts

Priority on Primary Registration. If a Piggyback Registration is an underwritten registration of securities for the account of the Company, and the managing underwriters advise the Company in writing that, in their opinion, the number of securities requested to be included in such registration exceeds the number which can be sold in an orderly manner in such offering within a price range acceptable to the Company, the Company shall include in such registration (i) first, the securities the Company proposes to sell, (ii) second, the Covered Shares to be included in such registration, and (iii) third, the securities of other stockholders that are not Covered Shares requested to be included in such registration, pro rata among the respective holders thereof on the basis of the amount of securities owned by each such holder.

Priority on Primary Registration. If a Piggyback Registration is an underwritten primary registration of securities for the account on behalf of the Company, and the managing underwriters advise the Company in writing that, that in their opinion, opinion the number of securities requested to be included in such registration exceeds the number which can be sold in an orderly manner in such offering within a price range acceptable to the Company, the Company shall include in such registration (i) first, the securities the Company proposes to sell, sell and (ii) second, the Covered Shares Registrable Securities requested to be included in such registration, registration and (iii) third, the any other securities of other stockholders that are not Covered Shares requested eligible to be included in such registration, pro rata among the respective holders thereof of such securities on the basis of the amount number of securities shares owned by each such holder.