Common use of Priority on Underwritten Demand Registrations Clause in Contracts

Priority on Underwritten Demand Registrations. If the Requisite Holders so elect, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering. In such event, if the managing underwriter or underwriters of the Demand Registration advise the Company and the Requisite Holders in writing that the total amount of Registrable Securities requested to be included in such offering would exceed the maximum amount of securities which can be marketed at a price reasonably related to the current fair market value of such securities without adversely affecting such offering (the "Underwriters Maximum Number"), the Company will be required to include in such registration to the extent of the Underwriters Maximum Number: FIRST, the Registrable Securities requested to be included in such registration by the Holders thereof, allocated PRO RATA among such Holders on the basis of the number of Registrable Securities requested to be included therein by each such Holder; and SECOND, any equity securities requested to be included in such registration by the Company and any other holders of such securities, allocated as determined by the Company subject to any agreements between the Company and any such holders.

Priority on Underwritten Demand Registrations. If the Requisite Holders so elect, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering. offering In such event, if the managing underwriter or underwriters of the Demand Registration advise the Company and the Requisite Holders in writing that the total amount of Registrable Securities requested to be included in such offering would exceed the maximum amount of securities which can be marketed at a price reasonably related to the current fair market value of such securities without adversely affecting such offering (the "“Underwriters Maximum Number"”), the Company will be required to include in such registration to the extent of the Underwriters Maximum Number: FIRSTfirst, the Registrable Securities requested to be included in such registration by the Holders thereof, allocated PRO RATA pro rata among such Holders on the basis of the number of Registrable Securities requested to be included therein by each such Holder; and SECONDsecond, any equity securities requested to be included in such registration by the Company and any other holders of such securities, allocated as determined by the Company subject to any agreements between the Company and any such holders.

Priority on Underwritten Demand Registrations. If the Requisite Holders so elect, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering. In such event, if the managing underwriter or underwriters of the Demand Registration advise the Company and the Requisite Holders in writing that the total amount of Registrable Securities requested to be included in such offering would exceed the maximum amount of securities which can be marketed at a price reasonably related to the current fair market value of such securities without adversely affecting such offering (the "“Underwriters Maximum Number"”), the Company will be required to include in such registration to the extent of the Underwriters Maximum Number: FIRSTfirst, the Registrable Securities requested to be included in such registration by the Holders thereof, allocated PRO RATA pro rata among such Holders on the basis of the number of Registrable Securities requested to be included therein by each such Holder; and SECONDsecond, any equity securities requested to be included in such registration by the Company and any other holders of such securities, allocated as determined by the Company subject to any agreements between the Company and any such holders.

Priority on Underwritten Demand Registrations. If the Requisite Holders so elect, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering. In such event, if the managing underwriter or underwriters of the Demand Registration advise the Company and the Requisite Holders in writing that the total amount of Registrable Securities requested to be included in such offering would exceed the maximum amount of securities which can be marketed at a price reasonably related to the current fair market value of such securities without adversely affecting such offering (the "Underwriters Maximum Number"), the Company will be required to include in such registration to the extent of the Underwriters Maximum Number: FIRSTfirst, the Registrable Securities requested to be included in such registration by the Holders thereof, allocated PRO RATA pro rata among such Holders on the basis of the number of Registrable Securities requested to be included therein by each such Holder; and SECONDsecond, any equity securities requested to be included in such registration by the Company and any other holders of such securities, allocated as determined by the Company subject to any agreements between the Company and any such holders.