Common use of Registration of Registrable Securities Clause in Contracts

Registration of Registrable Securities. (a) The Company shall prepare and, as soon as practicable, but in no event later than 75 days following the closing date of the Private Placement (the “Filing Deadline”), file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form SB-2 covering the resale of all shares of common stock underlying the Note (the “Note Shares”); provided, however; that in the event the Loan is not converted prior to the Maturity Date (the “Note Repayment”), the registration statement on Form SB-2 shall cover instead the shares of common stock underlying the Warrant (the “Warrant Shares”) (the shares of common stock required to be registered pursuant to this Section 7.2(a), the “Registrable Securities”). In the event that Form SB-2 is unavailable for such a registration, the Company shall register the resale of the Registrable Securities on another appropriate form reasonably acceptable to the holders of at least a majority of the Registrable Securities and undertake to register the Registrable Securities on Form SB-2 as soon as such form is available, provided that the Company shall maintain the effectiveness of the Registration Statement then in effect until such time as a Registration Statement on Form SB-2 covering the Registrable Securities has been declared effective by the SEC. The Company shall use its reasonable best efforts to have such registration statement declared effective by the SEC as soon as practicable, but in no event later than the date which is 180 days following the closing date of the Private Placement (the “Effectiveness Deadline”).