Common use of Registrable Shares Clause in Contracts

Registrable Shares. “Registrable Shares” means the shares of Common Stock, and any securities issued or issuable with respect to such Common Stock by way of stock dividends or stock splits or in connection with a combination of shares, recapitalization, merger, consolidation, or other reorganization or otherwise. As to any particular Registrable Shares once issued, such Registrable Shares shall cease to be Registrable Shares when (a) a registration statement covering such Registrable Shares has been declared effective under the Securities Act and such Registrable Shares have been disposed of pursuant to such effective registration statement, (b) such Registrable Shares have been distributed to the public pursuant to Rule 144, (c) such Registrable Shares shall have ceased to be outstanding, (d) such Registrable Shares are held by a Holder who is not an Affiliate of the Company and such shares are eligible for sale pursuant to Rule 144(k) under the Securities Act or (e) such Registrable Shares are held by a Holder who is an Affiliate of the Company and all such shares are eligible for sale pursuant to Rule 144 under the Securities Act and could be sold in one transaction in accordance with the volume limitations contained in Rule 144(e)(1)(i) of the Securities Act.