Common use of Registrable Securities; Effectiveness Period Clause in Contracts

Registrable Securities; Effectiveness Period. The term "Registrable Securities" shall mean any shares of Payor's Common Stock issuable upon conversion of this Note in accordance with the terms and conditions hereof. For the purposes of this Section 5, securities will cease to be Registrable Securities when (A) a registration statement under the Act, covering such Registrable Securities has been declared effective and (1) such Registrable Securities have been disposed of pursuant to such effective registration statement or (2) such registration statement has remained effective for 270 consecutive days, (B) such Registrable Securities are transferred pursuant to an exemption from the registration requirements of the Act, including, without limitation, Rules 144 and 144A promulgated thereunder, (C) such Registrable Securities are eligible for sale pursuant to Rule 144(k) of the Act (or any similar provision then in force) or (D) such Registrable Securities have been otherwise transferred and the Payor, in accordance with applicable law and regulations, has delivered new certificates or other evidences of ownership for such securities which are not subject to any stop transfer order or other restriction on transfer ((A) through (D) collectively referred to herein as the "Effectiveness Period").

Registrable Securities; Effectiveness Period. The term "“Registrable Securities" ” shall mean any shares of Payor's the Company Common Stock issuable upon conversion exercise of this Note Warrant in accordance with the terms and conditions hereof. For the purposes of this Section 58, securities will cease to be Registrable Securities when (A) a registration statement under the Act, covering such Registrable Securities has been declared effective and (1) such Registrable Securities have been disposed of pursuant to such effective registration statement or (2) such registration statement has remained effective for 270 consecutive days, (B) such Registrable Securities are transferred pursuant to an exemption from the registration requirements of the Act, including, without limitation, Rules 144 and 144A promulgated thereunder, (C) such Registrable Securities are eligible for sale pursuant to Rule 144(k) of the Act (or any similar provision then in force) or (D) such Registrable Securities have been otherwise transferred and the PayorCompany, in accordance with applicable law and regulations, has delivered new certificates or other evidences of ownership for such securities which are not subject to any stop transfer order or other restriction on transfer ((A) through (D) collectively referred to herein as the "“Effectiveness Period"”).