Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable): (i) prepare and file with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness; (ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective; (iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller; (iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction; (v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market; (vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities; (vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter: (1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and (2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement); (3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential; (viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events: (1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective; (2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information; (3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose; (4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and (5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose; (ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; (x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement; (xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; (xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate; (xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities; (xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities; (xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and (xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement. (b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto. (c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Fuller Max L), Registration Rights Agreement (Us Xpress Enterprises Inc), Registration Rights Agreement (Us Xpress Enterprises Inc)
Registration Procedures. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Article III that the Stockholders requesting inclusion in any Piggyback Registration or Demand Registration (a “Registration”) shall furnish to the Company such information regarding them, the Registrable Securities owned by them, the intended method of disposition of such Registrable Securities, and such agreements regarding indemnification, disposition of such securities and other matters referred to in and consistent with this Article III, as the Company shall reasonably request and as shall be required in connection with the action to be taken by the Company (such intended method of distribution may include a distribution to, and resale by, the partners of the holders of any Registrable Securities). With respect to any Registration which includes Registrable Securities owned by a Stockholder, the Company will, subject to Sections 3.01 and 3.02:
(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as As promptly as practicable possible (in each casethe case of a Demand Registration, to the extent applicable):
no more than (i) 45 days after the Company’s receipt of a Request Notice that is not for a Registration on Form S-3 or any successor or comparable form and (ii) 30 days after the Company’s receipt of a Request Notice that is for a Registration on Form S-3 or any successor or comparable form) prepare and file with the Commission a registration statement on the appropriate form prescribed by the Commission for such intended method of disposition, use its reasonable best efforts to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreementas soon as practicable thereafter; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further provided that before filing such a registration statement or prospectus or any amendments or supplements thereto, the Company will shall furnish to counsel representing the counsel selected by the holders of Stockholders selling Registrable Securities which are to be included in under such registration (“Selling Holders”) Registration copies of all such documents proposed to be filed, which documents will shall be subject to the review and reasonable comments of such counsel; provided, and further, that the Company shall not be obligated to maintain such review to be conducted with reasonable promptnessRegistration effective for a period longer than (x) 360 days or (y) such shorter period when all of the Registrable Securities covered by such registration statement have been sold pursuant thereto (the “Effectiveness Period”);
(iib) prepare Prepare and file with the Commission such amendments (including and post-effective amendments) and supplements amendments to such registration statement and the prospectus used in connection therewith and any Exchange Act reports documents required to be incorporated by reference therein as may be necessary to keep such the registration statement effective for a period of not less than the Effectiveness Period (but not prior to the expiration of the time period referred to in Section 3(3) of the 1933 Act and Rule 174 thereunder, if applicable); cause the prospectus to be supplemented by any required prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the 1933 Act and comply with the 1933 Act in a timely manner; and comply with the provisions of the Securities 1933 Act applicable to it with respect to the disposition of all securities Registrable Securities covered by such registration statement until during the earlier of such time as all of such securities have been disposed of applicable period in accordance with the intended method or methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in supplement to the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveprospectus;
(iiic) furnish Promptly incorporate in a prospectus supplement or post-effective amendment such information as the underwriter(s) or the Majority Stockholder reasonably requests to be included therein relating to the plan of distribution with respect to such Registrable Securities; and make all required filings of such prospectus supplements or post-effective amendments as soon as practical after being notified of the matters to be incorporated in such supplement or amendment;
(d) Furnish to such Stockholder, without charge, such number of conformed copies of the registration statement and any post-effective amendment thereto as such Stockholder may reasonably request, and such number of copies of the prospectus (including each Selling Holder preliminary prospectus) and each underwriterany amendments or supplements thereto, and any documents incorporated by reference therein, as such Stockholder or underwriter or underwriters, if any, may request in order to facilitate the disposition of the securities being sold by such Selling Holder Stockholder (it being understood that the Company consents to the use of the prospectus and any amendment or supplement thereto by such number of conformed copies of such Stockholder covered by the registration statement and of each amendment the underwriter or underwriters, if any, in connection with the offering and supplement thereto (in each case including all exhibits), such number of copies sale of the securities covered by the prospectus contained or any amendments or supplements thereto);
(e) Notify such Stockholder, at any time when a prospectus relating thereto is required to be delivered under the 1933 Act, when the Company becomes aware of the happening of any event as a result of which the prospectus included in such registration statement (including each as then in effect) contains any untrue statement of material fact or omits to state a material fact necessary to make the statements therein (in the case of the prospectus or any preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity light of the circumstances under which they were made) not misleading and, as promptly as practicable thereafter, prepare and file with the requirements Commission and furnish a supplement or amendment to such prospectus so that, as thereafter delivered to the investors of such securities, such prospectus will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the Securities Actcircumstances under which they were made, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellernot misleading;
(ivf) use commercially reasonable efforts Make generally available to register or qualify such its security holders an earnings statement, which need not be audited, satisfying the provisions of Section 11(a) of the 1933 Act as soon as reasonably practicable after the end of the 12-month period beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the registration statement, which statement shall cover said 12-month period;
(g) After the filing of a registration statement, (i) notify each Stockholder holding Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending issued or, to the effectiveness Company’s knowledge, threatened by the Commission and of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
jurisdiction, (ixii) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a use its reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort best efforts to obtain the withdrawal of any order suspending the effectiveness of the registration statement or the qualification of any Registrable Securities at the earliest possible moment, and (iii) make available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition pursuant to such registration statement, and any attorney, accountant or other agent retained by any such seller or underwriter, all financial and other records, pertinent corporate and business documents and properties of the Company as shall be necessary to enable them to exercise their due diligence responsibility, and cause the Company’s Representatives to supply all such information reasonably requested by any such seller, underwriter, attorney, accountant, or agent in connection with such registration statement;
(xih) otherwise use commercially reasonable efforts In connection with the preparation and filing of each Registration, give each holder of Registrable Securities included in such Registration, the underwriter(s) and their respective counsel, accountants and other Representatives and agents the opportunity to comply participate in the preparation of each registration statement, each prospectus included therein or filed with all applicable rules and regulations of the Commission, and make available each amendment thereof or supplement thereto and comparable statements under the securities or blue sky laws of any jurisdiction and give each of the foregoing Persons access to Selling Holdersthe books and records, as promptly as practicable, an earnings statement covering pertinent corporate and business documents and properties of the period Company and its subsidiaries and such opportunities to discuss the business and affairs of at least 12 months, but not more than 18 months, beginning the Company and its subsidiaries with the first day of respective Representatives and the independent public accountants who have certified the Company’s first full quarter after the effective date of consolidated financial statements, and supply all other information and respond to all other inquiries requested by such registration statementholders, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable lawunderwriter(s), if counsel, accountants and other Representatives and agents as shall be necessary or appropriate, representing securities sold under in the opinion of such holders or underwriter(s), to conduct a reasonable investigation within the meaning of the 1933 Act, and the Company shall not file any registration statement, and enable statement or amendment thereto or any prospectus or supplement thereto to which such securities to be in such denominations and registered in such names as the managing underwriter holder or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriateunderwriter(s) shall object;
(xiiii) have appropriate officers of the Company prepare and make presentations at any Cause its employees to participate in “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate other presentations as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securitiesconnection with such Registration;
(xivj) if requested by any Selling Holders or any underwriter, Deliver promptly incorporate in to counsel representing the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, Stockholders selling Registrable Securities under such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder Registration and each underwriter, if any, to furnish the Company participating in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of the Registrable Securities, copies of all correspondence between the Commission and the Company, its counsel or auditors, and all memoranda relating to discussions with the Commission or its staff with respect to such Registration; and
(k) On or prior to the date on which the registration statement is declared effective, use its reasonable best efforts to (i) register or qualify, and cooperate with such underwriter or underwriters, if any, and their counsel in connection with the registration or qualification of, the securities covered by the registration statement for offer and sale under the securities or blue sky laws of each state and other jurisdiction of the United States as the managing underwriter or underwriters, if any, requests in writing, to use its reasonable best efforts to keep each such registration or qualification effective, including through new filings, or amendments or renewals, during the Effectiveness Period and do any and all other acts or things necessary or advisable to enable the disposition in all such jurisdictions of the Registrable Securities covered by the applicable registration statement; provided that the Company will not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to general service of process in any such jurisdiction where it is not then so subject, (ii) obtain a “comfort” letter from the Company’s independent public accountants in customary form and covering such matters of the type customarily covered by comfort letters, which letter shall be made by or through an underwriteraddressed to the underwriters, and the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect use its reasonable best efforts to offerings of common stock for the account of, or on behalf of, cause such issuers. In connection with any offering of Registrable Securities registered pursuant comfort letter to this Agreement, the Company shall furnish also be addressed to the underwriter, if any (or, if no underwriter, the sellers holders of such Registrable Securities), unlegended certificates representing ownership (iii) obtain an opinion from the Company’s outside counsel in customary form and covering such matters of the type customarily covered by such opinions, which opinion shall be addressed to the underwriters and the holders of such Registrable Securities, and (iv) enter into and perform its obligations under such customary agreements (including underwriting agreements in customary form) and take all such other actions as the holders of a majority of the Registrable Securities included in the Request Notice, in the case of a Demand Registration, or the holders of a majority of the Registrable Securities being sold (unlessor the underwriters, if any, in the Company’s sole discretioncase of a Piggyback Registration, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form(including effecting a stock split, combination of shares, recapitalization, or reorganization). The Stockholders, in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in subsection (e) of this Section 3.6(a)(ix)3.03, such Selling Holder shall will forthwith discontinue such Selling Holder’s disposition of the Registrable Securities pursuant to until the applicable registration statement and prospectus relating thereto until such Selling Holder’s Stockholders’ receipt of the copies of the supplemented or amended prospectus contemplated by subsection (e) of this Section 3.6(a)(ix) 3.03 or until it is advised in writing by the Company that the use of the prospectus may be resumed, and has received copies of any additional or supplemental filings which are incorporated by reference in the prospectus, and, if so directed by the Company, deliver each Stockholder will, or will request the managing underwriter or underwriters, if any, to, deliver, to the Company, Company (at the Company’s sole expense, ) all copies, other than permanent file copies, copies then in such Selling HolderStockholder’s possession possession, of the prospectus covering such securities current at the time of receipt of such notice relating notice. No holder of Registrable Securities shall be required to make any representations or warranties to or agreements with the Company, other than representations and warranties regarding such holder, such holder’s ownership of and title to the Registrable Securities to be sold in such offering, and its intended method of distribution and any liability of any such holder under such underwriting agreement shall be limited to liability arising from breach of its representations and warranties therein and shall be limited to an amount equal to the net amount received by such holder from the sale of Registrable Securities pursuant to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionstatement.
Appears in 3 contracts
Samples: Registration Rights Agreement, Registration Rights Agreement (Smart & Final Stores, Inc.), Registration Rights Agreement (Smart & Final Stores, Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities 1933 Act as provided in Sections 3.1 and 3.2Section 2.2 and, as applicable, 2.3, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a registration statement SEC the Registration Statement, or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under 1933 Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the SEC, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.2); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any registration statement pursuant to Section 2.2 or Section 2.3, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities 1933 Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of thirty six (36) months after the date of this Agreement (subject to the right of the Company to suspend the effectiveness thereof for not more than 15 consecutive Trading Days or an aggregate of 20 Trading Days during each year (each a "Black-Out Period")) or such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or "Registration Maintenance Period"). The Company must notify the Investor within twenty four (ii24) in the case of a Piggyback Registration pursuant hours prior to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveany Black-Out Period;
(iii) furnish to each Selling Holder and each underwriter, if any, holder of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities 1933 Act, in conformity with the requirements of the Securities 1933 Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder holder of Registrable Securities and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerholder of Registrable Securities;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other U.S. federal or state securities laws or U.S. state blue sky laws of such jurisdictions as any Selling Holder and any underwriter U.S. holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder of Registrable Securities to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderholder of Registrable Securities, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) U.S. holder of Registrable Securities thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offeringfurnish to each holder of Registrable Securities a signed counterpart, obtain for each Selling Holder addressed to such holder of Registrable Securities, and underwriter:
(1) the underwriters, if any, of an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), such opinion to be in opinions requested in underwritten offerings and such other matters the form filed as may be reasonably requested by such Selling Holder and underwritersExhibit 5 to the registration statement, and
(2vii) a “comfort” letter (or, notify the Investor and its counsel promptly and confirm such advice in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) writing promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following eventsknowledge thereof:
(1a) when the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment thereto, when the same has become effective;
(2b) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3c) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5d) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling Holderholder of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities 1933 Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such holder of Registrable Securities promptly prepare and furnish to such seller holder of Registrable Securities a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xix) make every use its commercially reasonable effort best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities 1933 Act and Rule 158 thereunder;
(xi) enter into such agreements and take such other actions as the Investor shall reasonably request in writing (at the expense of the requesting or benefiting Investor) in order to expedite or facilitate the disposition of such Registrable Securities; and
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list all Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling such registration statement on any securities exchange on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed. The Company may require each Selling Holder and each underwriter, if any, holder of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such holder of Registrable Securities and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend in writing, including
(a) furnish the information required as to any shares of Common Stock or other securities of the Company owned by the holder, the holder's proposed plan of distribution, any relationship between the holder and the Company and any other information which the Company reasonably requests in connection with the preparation of the registration statement and update such registration statement.information immediately upon the occurrence of any events or condition which make the information concerning the Seller inaccurate in any material respect;
(b) Without limiting not sell any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement except in the manner set forth in the Registration Statement;
(c) comply with the prospectus delivery requirements and prospectus relating thereto until such Selling Holder’s receipt the provisions of Regulation M of the copies of SEC pursuant to the supplemented 1933 Act to the extent that such regulation is applicable to the holder;
(d) not sell or amended prospectus contemplated by Section 3.6(a)(ix) and, otherwise transfer or distribute any Registrable Securities if so directed by the holder possesses any material nonpublic information concerning the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Franklyn Resources Iii Inc), Registration Rights Agreement (Lounsberry Holdings Ii Inc), Registration Rights Agreement (Techprecision Corp)
Registration Procedures. (a) If and whenever the Company is required under an obligation pursuant to the provisions of this Agreement to use commercially its reasonable best efforts to effect the registration of any Registrable Securities, the Company shall, as expeditiously as practicable:
(a) in the case of Registrable Securities, use its reasonable best efforts to cause a Registration Statement that registers such Registrable Securities under to become and remain effective for a period of 180 days or, if earlier, until all of such Registrable Securities covered thereby have been disposed of; provided, that, in the case of any registration of Registrable Securities on a Shelf Registration Statement which are intended to be offered on a continuous or delayed basis, such 180-day period shall be extended, if necessary, to keep the registration statement continuously effective, supplemented and amended to the extent necessary to ensure that it is available for sales of such Registrable Securities, and to ensure that it conforms with the requirements of this Agreement, the Securities Act as provided in Sections 3.1 and 3.2the policies, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the CommissionCommission as announced from time to time, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as when (i) the Holders have sold all of such securities Registrable Securities, (ii) all of such Registrable Securities have been disposed of in accordance with become eligible for immediate sale pursuant to Rule 144 under the intended methods of disposition Securities Act by the seller or sellers Holder thereof set forth in without restriction by the manner of sale, volume and other limitations under such registration statement or rule and (iiii) in the case of an Automatic Shelf Registration Statement, such Automatic Shelf Registration Statement has been effective for three years (provided that the Company’s obligations under this Section 4.1(a) shall be renewed with respect to such Registrable Securities upon the filing of a Demand new Automatic Shelf Registration Statement pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective2.2(e));
(iiib) furnish to each Selling Investor, at least five (5) Business Days before filing a Registration Statement, or such shorter period as reasonably practical, copies of such Registration Statement or any amendments or supplements thereto, which documents shall be subject to the review, comment and approval by one lead counsel (and any reasonably necessary local counsel) selected by the Holders who beneficially own a majority of such Registrable Securities, which counsel (who may also be counsel to the Company), in each case, shall be subject to the reasonable approval of each Demand Holder whose Registrable Securities are included in such registration, and who shall represent all Selling Investors as a group (the “Selling Investors’ Counsel”) (it being understood that such five (5) Business Day period need not apply to successive drafts of the same document proposed to be filed so long as such successive drafts are supplied to the Selling Investors’ Counsel in advance of the proposed filing by a period of time that is customary and reasonable under the circumstances);
(c) furnish to each Selling Investor and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such final conformed versions of the applicable registration statement and of each amendment and supplement thereto (in each case including all exhibitsexhibits and any documents incorporated by reference) reasonably requested by such Selling Investor or underwriter in writing;
(d) in the case of Registrable Securities, prepare and file with the Commission such amendments, including post-effective amendments, and supplements to such Registration Statement and the applicable prospectus or prospectus supplement, including any free writing prospectus as defined in Rule 405 under the Securities Act, used in connection therewith as may be (i) reasonably requested by any Holder (to the extent such request relates to information relating to such Holder), or (ii) necessary to keep such Registration Statement effective for at least the period specified in Section 4.1(a) and to comply with the provisions of this Agreement and the Securities Act with respect to the sale or other disposition of such Registrable Securities, and furnish to each Selling Investor and to the managing underwriter(s), if any, within a reasonable period of time prior to the filing thereof a copy of any amendment or supplement to such registration statement or prospectus; provided, however, that, with respect to each free writing prospectus or other materials to be delivered to purchasers at the time of sale of the Registrable Securities, the Company shall (i) ensure that no Registrable Securities are sold “by means of” (as defined in Rule 159A(b) under the Securities Act) such free writing prospectus or other materials without the prior written consent of the sellers of the Registrable Securities, which free writing prospectus or other materials shall be subject to the review of counsel to such sellers and (ii) make all required filings of all free writing prospectuses or other materials with the Commission as are required;
(e) notify in writing each Holder promptly (i) of the receipt by the Company of any notification with respect to any comments by the Commission with respect to such Registration Statement or any amendment or supplement thereto or any request by the Commission for the amending or supplementing thereof or for additional information with respect thereto, (ii) of the receipt by the Company of any notification with respect to the issuance by the Commission of any stop order suspending the effectiveness of such Registration Statement or any amendment or supplement thereto or the initiation or threatening of any proceeding for that purpose and (iii) of the receipt by the Company of any notification with respect to the suspension of the qualification of such Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purposes and, in any such case as promptly as reasonably practicable thereafter, prepare and file an amendment or supplement to such registration statement or prospectus which will correct such statement or omission or effect such compliance;
(f) use its reasonable best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions as the Holders reasonably request and do any and all other acts and things which may be reasonably necessary or advisable to enable such Holders to consummate their disposition in such jurisdictions; provided, however, that the Company will not be required to qualify generally to do business, subject itself to general taxation or consent to general service of process in any jurisdiction where it would not otherwise be required to do so but for this Section 4.1(f);
(g) furnish to each Selling Investor such number of copies of the a summary prospectus contained in such registration statement (or other prospectus, including each a preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, Investors or any underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerwriting;
(ivh) use commercially reasonable efforts to register or qualify notify on a timely basis each Holder of such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto to such Registrable Securities is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, which the prospectus included in such registration statementRegistration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleading, misleading in light of the circumstances then existing and, at the request of any Selling such Holder, promptly as soon as practicable prepare and furnish to such seller Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers offeree of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances then existing;
(xi) make every available for inspection by the Selling Investors, the Selling Investors’ Counsel or any underwriter participating in any disposition pursuant to such Registration Statement and any attorney, accountant or other agent retained by any such Selling Investor or underwriter (collectively, the “Inspectors”), all pertinent financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information (together with the Records, the “Information”) requested by any such Inspector in connection with such Registration Statement and request that the independent public accountants who have certified the Company’s financial statements make themselves available, at reasonable effort times and for reasonable periods, to obtain discuss the withdrawal business of any order suspending the effectiveness Company. Any of the Information which the Company determines in good faith to be confidential, and of which determination the Inspectors are so notified, shall not be disclosed by the Inspectors unless (i) the disclosure of such registration statementInformation is necessary to avoid or correct a misstatement or omission in the Registration Statement, (ii) the release of such Information is requested or required pursuant to a subpoena, order from a court of competent jurisdiction or other interrogatory by a governmental entity or similar process; (iii) such Information has been made generally available to the public; or (iv) such information is or becomes available to such Inspector on a non-confidential basis other than through the breach of an obligation of confidentiality (contractual or otherwise). The Holder(s) of Registrable Securities agree that they will, upon learning that disclosure of such Information is sought in a court of competent jurisdiction or by another governmental entity, give notice to the Company and allow the Company, at the Company’s expense, to undertake appropriate action to prevent disclosure of the Information deemed confidential;
(xij) otherwise use commercially reasonable efforts in the case of an Underwritten Offering, deliver to comply with all applicable rules the underwriters of such Underwritten Offering a “comfort” letter in customary form and regulations at customary times and covering matters of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of type customarily covered by such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereundercomfort letters from its independent certified public accountants;
(xiik) cooperate with in the sellers and the managing underwriter to facilitate the timely preparation and delivery case of certificates (which shall not bear any restrictive legends unless required under applicable law)an Underwritten Offering, if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available deliver to the Company’s transfer agent prior to the effectiveness underwriters of such registration statement Underwritten Offering a supply written and signed legal opinion or opinions in customary form from its outside or in-house legal counsel dated the closing date of such certificates as necessary or appropriatethe Underwritten Offering;
(xiiil) have appropriate officers provide a transfer agent and registrar (which may be the same entity and which may be the Company) for such Registrable Securities and deliver to such transfer agent and registrar such customary forms, legal opinions from its outside or in-house legal counsel, agreements and other documentation as such transfer agent and/or registrar so request;
(m) issue to any underwriter to which any Selling Investors may sell Registrable Securities in such offering certificates evidencing such Registrable Securities;
(n) upon the request of any Holder of the Company prepare and make presentations at Registrable Securities included in such registration, use reasonable best efforts to cause such Registrable Securities to be listed on any “road shows” and before analysts and rating agenciesnational securities exchange on which any Shares are listed or, as if the case may beShares are not listed on a national securities exchange, and otherwise use its reasonable best efforts to cooperate qualify such Registrable Securities for inclusion on such national securities exchange as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable SecuritiesCompany shall designate;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvio) otherwise use commercially its reasonable best efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under make available to its security holders, as soon as reasonably practicable, earnings statements (which need not be audited) covering a period of 12 months beginning within three months after the rules and regulations effective date of the Exchange Registration Statement, which earnings statements shall satisfy the provisions of Section 11(a) of the Securities Act. The Company may require each Selling Holder ;
(p) notify the Holders and each underwriterthe lead underwriter or underwriters, if any, to furnish and (if requested) confirm such advice in writing, as promptly as reasonably practicable after notice thereof is received by the Company in writing such information regarding each Selling Holder when the applicable registration statement or underwriter any amendment thereto has been filed or becomes effective and when the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete applicable prospectus or amend the information required by such registration statement.any amendment or supplement thereto has been filed;
(bq) Without limiting any of use its reasonable best efforts to prevent the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account entry of, or on behalf and use its reasonable best efforts to obtain as promptly as reasonably practicable the withdrawal of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement or other order suspending the use of any preliminary or final prospectus;
(r) promptly incorporate in a prospectus supplement or post-effective amendment to the applicable registration statement such information as the lead underwriter or underwriters, if any, and the Holders holding a majority of each class of Registrable Securities being sold agree (with respect to the relevant class) should be included therein relating to the plan of distribution with respect to such class of Registrable Securities; and make all required filings of such prospectus relating thereto until such Selling Holder’s receipt supplement or post-effective amendment as promptly as reasonably practicable after being notified of the copies matters to be incorporated in such prospectus supplement or post-effective amendment;
(s) cooperate with each Holder and each underwriter or agent, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA;
(t) provide a CUSIP number or numbers for all such shares, in each case not later than the effective date of the supplemented applicable registration statement;
(u) to the extent reasonably requested by the lead or amended prospectus contemplated managing underwriters in connection with an Underwritten Offering (including an Underwritten Offering pursuant to Section 2.1 or Section 2.2), send appropriate officers of the Company to attend any “road shows” scheduled in connection with any such Underwritten Offering, with all out of pocket costs and expenses incurred by Section 3.6(a)(ix) and, if so directed the Company or such officers in connection with such attendance to be paid by the Company;
(v) enter into such agreements (including an underwriting agreement in customary form) and take such other actions as the Selling Investor or Selling Investors, deliver to as the Companycase may be, owning at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession least a majority of the prospectus current at Registrable Securities covered by any applicable registration statement shall reasonably request in order to expedite or facilitate the time disposition of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) including customary indemnification and contribution to the date when effect and to the extent provided in Article V hereof; and
(w) subject to all the other provisions of this Agreement, use its reasonable best efforts to take all other steps necessary to effect the registration, marketing and sale of such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the CommissionRegistrable Securities contemplated hereby.
Appears in 3 contracts
Samples: Registration Rights Agreement (Sun Country Airlines Holdings, Inc.), Registration Rights Agreement (Sun Country Airlines Holdings, Inc.), Registration Rights Agreement (Sun Country Airlines Holdings, Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of Whenever a Shareholder has requested that any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2be registered pursuant to this Agreement, the Company shall promptly take all such actions as promptly may be necessary or desirable to permit the sale of such Registrable Securities in accordance with the intended method or methods of disposition thereof, and pursuant thereto the Company shall as practicable (in each case, to the extent applicable):expeditiously as possible:
(ia) with respect to a request to file a Registration Statement covering Registrable Securities made pursuant to Article 3, use its reasonable best efforts to prepare and file with the Commission SEC not later than sixty (60) days after receipt of the relevant Demand Request (which sixty (60) day period may be extended by the Company for up to an additional sixty (60) days if at the time of such request the Company is engaged in negotiations in anticipation of its participation in a registration statement material merger, acquisition or other form of business combination or, if by reason of such transaction, the Company is not in a position to effect such registrationtimely prepare and file the Registration Statement and the Company furnishes to each Shareholder participating, cause or electing to participate, in such registration statement to become effective at of Registrable Securities (the earliest possible date permitted under "PARTICIPATING SHAREHOLDER") a certificate signed by the rules and regulations president or a vice president of the CommissionCompany stating that in the good faith opinion of the board of directors of the Company such registration would interfere with such transaction then being pursued by the Company) a Registration Statement on a form for which the Company then qualifies which is satisfactory to the Company and the Participating Shareholders (unless the offering is made on an underwritten basis, including on a best efforts underwriting basis, in which event the managing underwriter or underwriters may determine the form to be used) and which form shall be available for the sale of the Registrable Securities in accordance with the intended method or methods of distribution thereof, and thereafter use commercially its reasonable best efforts to cause such registration statement Registration Statement to remain effective become effective; the Company shall not file any Registration Statement pursuant to Article 3 or any amendment thereto or any Prospectus or any supplement thereto (including such documents incorporated by reference) to which the terms of this Agreement; providedParticipating Shareholders or the underwriters, howeverif any, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date shall reasonably object in light of the registration statement relating thereto; provided, further that requirements of the Securities Act or any other applicable laws or regulations;
(b) before filing such registration statement a Registration Statement or Prospectus or any amendments theretoor supplements thereto (excluding documents to be incorporated by reference therein, except in the case of the preparation of the initial Registration Statement), the Company will shall, at least five (5) days before filing, furnish to each Participating Shareholder and the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) underwriters, if any, copies of all such documents in substantially the form proposed to be filedfiled (including documents incorporated therein by reference), which to enable such Participating Shareholders and the underwriters, if any, to review such documents will be subject prior to the review of such counselfiling thereof, and the Company shall make such review to reasonable changes thereto (including changes to, or the filing of amendments reflecting such changes to, documents incorporated by reference) as may be conducted with reasonable promptnessreasonably requested by such Participating Shareholders and the managing underwriter or underwriters, if any;
(iic) subject to paragraph (b) above, prepare and file with the Commission SEC such amendments (including and post-effective amendments) and supplements amendments to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein Registration Statement as may be necessary to keep such registration statement the Registration Statement continuously effective for a period of not less than ninety (90) days; cause the Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act; and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until Registration Statement during the earlier of such time as all of such securities have been disposed of applicable period in accordance with the intended methods of disposition by the seller or sellers thereof Participating Shareholders set forth in such registration statement Registration Statement or (i) in supplement to the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveProspectus;
(iiid) furnish to each Selling Holder and each underwriter, if any, of notify the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder Participating Shareholders and the managing underwriters, if any, of promptly, and (if requested by any such Person) confirm such advice in writing, (i) when the following events:
(1) the filing of the registration statement, the prospectus Prospectus or any prospectus Prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment theretoamendment, when the same has become effective;
, (2ii) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus Prospectus or for additional information;
, (3iii) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
, (4iv) when if at any Issuer Free Writing Prospectus includes information that may conflict with time any of the information contained in representations or warranties of the registration statement; and
Company contemplated by paragraph (5o) below cease to be true and correct, (v) of the receipt by the Company of any notification with respect to the suspension of the qualification of any the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
, and (ixvi) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under of the Securities Act, upon discovery that, or upon the happening occurrence of any event as a result of whichwhich makes any statement made in the Registration Statement, the prospectus included in such registration statement, as then in effect, includes an Prospectus or any document incorporated therein by reference untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make which requires the statements therein not misleading, and, at the request making of any Selling Holderchanges in the Registration Statement, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to the Prospectus or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated any document incorporated therein or necessary by reference in order to make the statements therein not misleading;
(xe) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xif) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning practicable after filing with the first day SEC of any document which is incorporated by reference into the Registration Statement or the Prospectus (after initial filing of the Company’s first full quarter after the effective date Registration Statement), provide copies of such registration statement, which earnings statement shall satisfy document to counsel to the provisions of Section 11(a) of Participating Shareholders and to the Securities Act and Rule 158 thereundermanaging underwriters;
(xiig) provide to the Participating Shareholders and each managing underwriter, without charge, at least one signed copy of the Registration Statement and any post-effective amendment thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits (including those incorporated by reference) and a reasonable number of conformed copies of all such documents;
(h) deliver to the Participating Shareholders and the underwriters, if any, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons may reasonably request; the Company consents to the use of the Prospectus or any amendment or supplement thereto by the Participating Shareholders and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by the Prospectus or any amendment or supplement thereto;
(i) prior to the date on which the Registration Statement is declared effective, use its reasonable best efforts to register or qualify, or cooperate with the Participating Shareholders and the underwriters, if any, and their respective counsel in connection with the registration or qualification of, such Registrable Securities for offer and sale under the securities or blue sky laws of such jurisdictions as any seller or underwriter reasonably requests in writing and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Registrable Securities covered by the Registration Statement; provided that the Company will not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to general service of process or taxes in any such jurisdiction where it is not then so subject; provided, further, that the Company will not be required to qualify such Registrable Securities in any jurisdiction in which the securities regulatory authority requires that the Participating Shareholders submit any shares of its Registrable Securities to the terms, provisions and restrictions of any escrow, lock-up or similar agreement(s) for consent to sell Registrable Securities in such jurisdiction unless the Participating Shareholders agrees to do so;
(j) cooperate with the sellers Participating Shareholders and the managing underwriter underwriters, if any, to facilitate the timely preparation and delivery of certificates (which shall representing Registrable Securities to be sold and not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, legends; and enable such securities Registrable Securities to be in such denominations and registered in such names as the managing underwriter or such sellers underwriters may request and keep available and make available at least two (2) Business Days prior to any sale of Registrable Securities to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriateunderwriters;
(xiiik) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested cause the Registrable Securities covered by the Selling Holders and Registration Statement to be registered with or approved by such other governmental agencies or authorities within the underwriters in United States as may be necessary to enable the offeringseller or sellers thereof or the underwriters, marketing or selling if any, to consummate the disposition of the such Registrable Securities;
(xivl) if requested upon the occurrence of any event contemplated by any Selling Holders or any underwriterparagraph (d)(vi) above, promptly incorporate in the registration statement or any prospectus, pursuant to prepare a supplement or post-effective amendment Amendment to the Registration Statement or the Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading;
(m) use its reasonable best efforts to cause all Registrable Securities covered by the Registration Statement to be listed on the Nasdaq National Market and each other exchange on which similar securities issued by the Company are then listed if necessaryrequested by Shareholder or the managing underwriters, if any;
(n) provide a transfer agent and registrar for all Registrable Securities;
(o) enter into such information agreements (including an underwriting agreement) and take all such other actions in connection therewith as such Selling Holders may Participating Shareholders or the managing underwriters, if any, reasonably request in order to have included thereinexpedite or facilitate the disposition of such Registrable Securities and in such connection, whether or not an underwriting agreement is entered into and whether or not the registration is an underwritten registration (i) make such representations and warranties to the Participating Shareholders and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings (including, without limitation, information an agreement to not sell equity securities during a customary lock-up period) and confirm the accuracy of the same if and when requested, and matters relating to the “Plan of Distribution” compliance of the Registrable SecuritiesRegistration Statement and the Prospectus with the Securities Act; (ii) obtain opinions of counsel to the Company, and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters) addressed to Participating Shareholders and the underwriters, if any, covering the matters customary in underwritten primary offerings and such other matters as may be reasonably requested by the Participating Shareholders and underwriters, if any; (iii) obtain "comfort" letters and updates thereof from the Company's independent certified public accountants, subject to such accountants' customary procedures, addressed to the Participating Shareholders and the underwriters, if any, such letters to be in customary form and covering matters of the type customarily covered in "comfort" letters by underwriters in connection with primary underwritten offerings; (iv) if an underwriting agreement is entered into, the same shall set forth in full the indemnification provisions and procedures of Article 7 with respect to all parties to be indemnified pursuant to said Section; and (v) the Company shall deliver such documents and certificates as may be requested by the Participating Shareholders and the managing underwriters, if any, to evidence compliance with clause (i) above and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company. The above shall be done at each closing under such underwriting or similar agreement or as and to the extent required thereunder;
(xvp) cooperate and assist make available for inspection during normal business hours by the Participating Shareholders, any underwriter participating in any filings required disposition pursuant to be made with such registration statement, and any attorney, accountant or other agent retained by the Financial Industry Regulatory AuthorityParticipating Shareholders or any such underwriter, Inc. (“FINRA”) all financial and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules other records, pertinent corporate documents and regulations properties of the FINRACompany, and cause the Company's officers, directors and employees to supply all information reasonably requested by the Participating Shareholders or any such underwriter, attorney, accountant or agent in connection with such registration statement; andprovided that any records, information or documents that are designated by the Company in writing as confidential shall be kept confidential by such Persons;
(xviq) otherwise use commercially its reasonable best efforts to comply with all applicable rules and regulations of the Commission SEC, and all reporting requirements under make generally available to its security holders, earnings statements satisfying the rules and regulations provisions of Section 11(a) of the Exchange Securities Act, no later than forty-five (45) days after the end of any twelve (12)-month period (i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in a firm or best efforts underwriting offering, and (ii) beginning with the first month of the Company's first fiscal quarter commencing after the effective date of the Registration Statement, which statements shall cover said twelve (12)-month periods; and
(r) take such other reasonable steps that are necessary or advisable to permit the sale of such Registrable Securities. The Company may require each Selling Holder and each underwriter, if any, the Participating Shareholders to furnish to the Company in writing such information and documents regarding each Selling Holder or underwriter the Participating Shareholders and the distribution of such the Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoingin writing. Each Shareholder agrees that, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix)5(d)(vi) hereof, such Selling Holder shall Shareholder will forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s Shareholder's receipt of the copies of the supplemented or amended prospectus Prospectus contemplated by Section 3.6(a)(ix5(l), or until it is advised in writing (the "ADVICE") by the Company that the use of the Prospectus may be resumed, and has received copies of any additional or supplemental filings which are incorporated by reference in the Prospectus, and, if so directed by the Company, each Participating Shareholder will, or will request the underwriters to, deliver to the Company, Company (at the Company’s 's expense, ) all copies, other than permanent file copies, copies then in such Selling Holder’s possession Shareholder's possession, of the prospectus Prospectus covering such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securitiesnotice. In the event If the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement the time periods mentioned in Section 5(c) hereof shall be extended by the number of days during the period from and including the date of the giving of a such notice regarding the happening of an event of the kind described in pursuant to Section 3.6(a)(ix5(d)(vi) to and including the date when all such Selling Holders Participating Shareholder shall receive such a have received the copies of the supplemented or amended prospectus and such prospectus shall have been filed with contemplated by Section 5(l) or the CommissionAdvice.
Appears in 3 contracts
Samples: Registration Rights Agreement (Golden Telecom Inc), Registration Rights Agreement (First Nis Regional Fund Sicav), Registration Rights Agreement (Nye Telenor East Invest As)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts by the provisions of Section 1 or 2 to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Act, the Company shall will, at its expense, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and and, in any event within 45 days after a request for registration has been given to the Company, file with the Commission a registration statement Registration Statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules Registrable Securities and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement Registration Statement to remain effective pursuant to the terms of this Agreementbecome effective; provided, however, PROVIDED that the Company may withdraw or discontinue any registration of its securities which are not Registrable Securities is being effected pursuant to Section 2 at any time prior to the effective date of the registration statement relating theretoRegistration Statement;
(ii) prepare and file with the Commission such amendments and supplements to any Registration Statement referred to in clause (i) of this Section 3 and the prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and updated until such time as all of the Registrable Securities have been disposed of in accordance with the intended methods of disposition by the Holder or Holders set forth in such Registration Statement and to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such Registration Statement during such period in accordance with the intended methods of disposition by the Holder or Holders thereof set forth in such Registration Statement; provided, further PROVIDED that before filing such registration statement a Registration Statement or prospectus, or any amendments or supplements thereto, the Company will furnish furnish, at the Company's expense, to the one counsel selected jointly by the holders Holders holding a majority of the Registrable Securities covered by such Registration Statement to represent all Holder's of Registrable Securities which are to be included in covered by such registration (“Selling Holders”) Registration Statement, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder Registrable Securities: (a) such number of conformed copies of such registration statement any Registration Statement referred to in clause (i) of this Section 3 and of each amendment and supplement thereto (in each case including all exhibits), ; (b) such number of copies of the prospectus contained included in such registration statement Registration Statement (including each preliminary prospectus and any summary prospectus) ), and any other prospectus filed under Rule 424 under the Securities Act, Act in conformity with the requirements of the Securities Act, ; and any Issuer Free Writing Prospectus and (c) such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;request,
(iv) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement any Registration Statement referred to in clause (i) of this Section 3 under such other securities laws or blue sky laws of such domestic jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling each Holder shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderseller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not where, but for the requirements of this clause (iv) ), it would not be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable its best efforts to cause such Registrable Securities covered by such registration statement a Registration Statement to be registered with or approved by such other domestic governmental agencies or authorities as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;
(viivi) cause representatives of the Company to participate in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be any "road show" or "road shows" reasonably requested by such Selling Holder and underwriters, andany underwriter of an underwritten or "best efforts" offering of any Registrable Securities;
(2vii) a “comfort” letter (or, in the case notify each seller of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into covered by a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling HolderRegistration Statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, Act or upon of the happening of any event as a result of which, Company's becoming aware that the prospectus included in such registration statementRegistration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holdersuch seller, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to an amended or an amendment of such supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers sellers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit omits to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xiviii) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling its Holders, as promptly soon as practicable, an earnings statement covering the period of at least 12 months, reasonably practicable (but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter ) after the effective date of such registration statementthe Registration Statement, which an earnings statement which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 the rules and regulations promulgated thereunder;
(ix) use its best efforts to list such Registrable Securities on any securities exchange or automated quotation system on which securities of the same class are then listed, if such Registrable Securities are not already so listed and if such listing is then permitted under the rules of such exchange or system, and to provide a transfer agent and registrar for such Registrable Securities covered by a Registration Statement not later than the effective date of such Registration Statement;
(x) enter into such customary agreements (including an underwriting agreement in customary form) and take such other actions as sellers of a majority of such Registrable Securities or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities;
(xi) obtain a "cold comfort" letter or letters from the Company's independent public accountants in customary form and covering matters of the type customarily covered by "cold comfort" letters as the seller or sellers of a majority of such Registrable Securities shall reasonably request;
(xii) cooperate with obtain an opinion of counsel for the sellers Company in customary form and covering matters of the managing underwriter to facilitate the timely preparation and delivery type customarily covered in opinions of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names issuer's counsel as the managing underwriter seller or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of a majority of such registration statement a supply of such certificates as necessary or appropriate;Registration Securities shall reasonably request; and
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested available for inspection by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution seller of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required covered by such registration statement.
(b) Without limiting a Registration Statement by any of the foregoing, underwriter participating in the event that the offering of Registrable Securities is any disposition to be made effected pursuant to such Registration Statement and by any attorney, accountant or through an other agent retained by any such seller or any such underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representationsall pertinent financial and other records, warranties, indemnities pertinent corporate documents and agreements customarily included (but not inconsistent with the covenants and agreements properties of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to and cause all of the Company's officers, at the Company’s expensedirectors and employees to supply all information reasonably requested by any such seller, all copiesunderwriter, other than permanent file copiesattorney, then accountant or agent in connection with such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the CommissionRegistration Statement.
Appears in 3 contracts
Samples: Registration Rights Agreement (Barringer Laboratories Inc), Registration Rights Agreement (Barringer Laboratories Inc), Registration Rights Agreement (Lavelle J Francis)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable its best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 2.1 and 3.22.2, the Company shall will as promptly expeditiously as practicable (in each case, to the extent applicable):practicable:
(i) (A) prepare and file with the Commission SEC a registration statement on the appropriate form which includes such Registrable Securities, (B) promptly respond to effect all comments received with respect to such registrationregistration statement and make and file all amendments thereto deemed necessary by the Company’s legal counsel, and (C) thereafter use its reasonable efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnesspracticable date;
(ii) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement accurate and effective and to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities and other securities covered by such registration statement until the earlier of such time as all of such securities Registrable Securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or for the longer of (iA) in nine months or (B) if the case of Company is eligible to conduct a Demand Registration continuous secondary offering pursuant to Section 3.1Rule 415 under the Securities Act, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivetwo years;
(iii) furnish to each Selling Holder such seller of Registrable Securities at least two Business Days prior to the filing thereof a copy of any amendment or supplement to such registration statement or prospectus and each underwriter, if any, not file any such amendment or supplement to which any such seller shall have reasonably objected on the grounds that such amendment or supplement does not comply in all material respects with the requirements of the securities being sold by Securities Act or of the rules or regulations thereunder;
(iv) furnish to each seller of such Selling Holder such number of conformed copies Registrable Securities one copy of such registration statement and of each such amendment thereof and supplement thereto (in each case including all exhibitsexhibits and documents filed therewith), such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus such documents, if any, incorporated by reference in such registration statement or prospectus, and such other documents as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(ivv) use commercially its reasonable efforts to register or qualify such all Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller thereof shall reasonably request, request and take to keep such registration or qualification in effect for so long as such registration statement remains in effect and do any and all other action which acts and things that may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the its Registrable Securities owned covered by such Selling Holderregistration statement, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not not, but for the requirements of this clause subdivision (iv) v), be obligated to be so qualified, or to subject itself to taxation in any such jurisdiction jurisdiction, or to file a general consent to general service of process in any such jurisdiction;
(vvi) use commercially reasonable efforts to cause such notify each seller of Registrable Securities to be listed on each securities exchange on which similar securities of any stop order issued or threatened by the Company are then listed and, if no such securities are so listed, use commercially SEC and take all reasonable efforts action required to cause such Registrable Securities to be listed on prevent the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition entry of such Registrable Securitiesstop order or to remove it if entered;
(vii) if such registration statement relates to an underwritten offering, (A) enter into an underwriting agreement with the underwriters for such offering, in connection with an Underwritten Offering, obtain for form and substance satisfactory to each Selling Holder seller of Registrable Securities and underwriter:
(1) an opinion of counsel for the Company, covering underwriters and containing such representations and warranties by the matters customarily covered in opinions requested in underwritten offerings Company and such other matters terms as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, are generally prevailing in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary underwriting agreements of the Company or any business acquired by same type, including, without limitation, indemnities to the Company from effect and to the extent provided in Section 2.5, and (B) obtain and furnish to each seller of Registrable Securities a signed counterpart, addressed to such seller, of the legal opinions and accountants’ comfort letters which financial statements and financial data are, or are required to be, included in be delivered to the registration statement)underwriters;
(3viii) promptly make available for inspection by any sellerseller of Registrable Securities, any underwriter participating in any disposition pursuant to any such registration statement, statement and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”)underwriter, all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibilityCompany, and cause the Company’s officers, directors directors, employees and employees independent accountants to supply all information reasonably requested by any such Inspector seller, underwriter, attorney, accountant or agent in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) promptly notify each Selling Holderseller whose Registrable Securities are covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, at the request of any Selling Holder, and promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially its reasonable efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits securities holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day month of the Company’s first full fiscal quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xiixi) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable cause all such securities Registrable Securities to be in such denominations and registered in such names as listed on each securities exchange on which the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriateCommon Stock is then listed;
(xiiixii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations cause its management to participate fully in the sale process relating to such offering, including the preparation of the Commission applicable registration statement and the preparation and presentation of any “road shows,” whether domestic or international; and
(xiii) take all reporting requirements under such other commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the rules and regulations disposition of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required covered by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Midland States Bancorp, Inc.), Registration Rights Agreement (Midland States Bancorp, Inc.), Registration Rights Agreement (Midland States Bancorp, Inc.)
Registration Procedures. (a) If and whenever Whenever a Stockholder requests that any Registrable Securities be registered pursuant to Section 2.01 or Section 2.02, subject to the provisions of such Sections, the Company is required to shall use its commercially reasonable efforts to effect the registration and the sale of any such Registrable Securities under in accordance with the Securities Act intended method of disposition thereof as provided soon as reasonably practicable and, in Sections 3.1 and 3.2, the connection with any such request:
(a) The Company shall as promptly soon as reasonably practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission SEC a registration statement to effect such registration, cause such registration statement to become effective at Registration Statement on any form for which the earliest possible date permitted under Company then qualifies or that counsel for the rules Company shall deem appropriate and regulations which form shall be available for the sale of the CommissionRegistrable Securities to be registered thereunder in accordance with the intended method of distribution thereof, and thereafter use its commercially reasonable efforts to cause such registration statement filed Registration Statement to become and remain effective pursuant to the terms for a period of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand not less than 180 days (or, if sooner, until all Registrable Securities have been sold under such Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effectiveStatement), or (ii) in the case of a Piggyback Shelf Registration, until the earlier of the date (x) on which all of the securities covered by such Shelf Registration pursuant are no longer Registrable Securities and (y) on which the Company cannot extend the effectiveness of such Shelf Registration because it is no longer eligible for use of Form S-3; subject in each case to Section 3.2any Suspension Period.
(b) Prior to filing a Registration Statement or related prospectus or any amendment or supplement thereto, or before using any Free Writing Prospectus, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to Company shall provide each Selling Holder Registering Stockholder, the Holders’ Counsel and each underwriter, if any, of with an adequate and appropriate opportunity to review and comment on such Registration Statement, each prospectus included therein (and each amendment or supplement thereto) and each Free Writing Prospectus proposed to be filed with the securities being sold by SEC, and thereafter the Company shall furnish to such Selling Holder Registering Stockholder, the Holders’ Counsel and underwriter, if any, such number of conformed copies of such registration statement and of Registration Statement, each amendment and supplement thereto filed with the SEC (in each case including all exhibitsexhibits thereto and documents incorporated by reference therein), such number of copies of the prospectus contained included in such registration statement Registration Statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 424, Rule 430A, Rule 430B or Rule 430C under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer each Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, Registering Stockholder or underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
Registering Stockholder. In addition, the Company shall, as expeditiously as practicable, keep Holders’ Counsel advised in writing as to the initiation and progress of any registration under Section 2.01 or Section 2.02 and provide Holders’ Counsel with copies of all correspondence (ivincluding any comment letter) with the SEC, any self-regulatory organization or other governmental agency in connection with any such Registration Statement. Each Registering Stockholder shall have the right to request that the Company modify any information pertaining to such Registering Stockholder contained in such Registration Statement, amendment and supplement thereto or any Free Writing Prospectus, and the Company shall use its commercially reasonable efforts to register comply with such request; provided, however, that the Company shall not have any obligation to so modify any information if the Company reasonably expects that so doing would cause the prospectus to contain an untrue statement of a material fact or qualify such omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading.
(c) After the filing of the Registration Statement, the Company shall (i) cause the related prospectus to be supplemented by any required prospectus supplement, and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act, (ii) comply with the provisions of the Securities Act applicable to the Company with respect to the disposition of all Registrable Securities covered by such registration statement under such other securities laws or blue sky laws Registration Statement during the applicable period in accordance with the intended methods of such jurisdictions as any Selling Holder and any underwriter of disposition by the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition Registering Stockholder thereof set forth in such jurisdictions of the Registrable Securities owned by Registration Statement or supplement to such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause prospectus and (iviii) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on promptly notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registering Stockholder holding Registrable Securities covered by such Registration Statement and the Holders’ Counsel of any stop order issued or threatened by the SEC or any state securities commission and take all commercially reasonable actions required to prevent the entry of such stop order or to remove it if entered.
(d) The Company shall use its commercially reasonable efforts to (i) register or qualify the Registrable Securities covered by such Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as any Registering Stockholder holding such Registrable Securities reasonably (in light of such Registering Stockholder’s intended plan of distribution) requests, and continue such registration statement or qualification in effect in such jurisdiction for the shortest of (A) as long as permissible pursuant to the laws of such jurisdiction, (B) as long as any such Registering Stockholder requests or (C) until all such Registrable Securities are sold and (ii) cause such Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be reasonably necessary or advisable to enable the Selling Holder(s) thereof such Registering Stockholder to consummate the disposition of the Registrable Securities owned by such Registering Stockholder; provided that the Company shall not be required to (A) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 2.04(d), (B) subject itself to taxation in any such jurisdiction or (C) consent to general service of process in any such jurisdiction.
(e) The Company shall promptly notify each Registering Stockholder holding such Registrable Securities covered by such Registration Statement (i) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon the discovery that, or upon the occurrence of an event as a result of which, the preparation of a supplement or amendment to such prospectus is required so that, as thereafter delivered to the purchasers of such Registrable Securities;, such prospectus will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and the Company shall promptly (subject to any applicable Suspension Period) prepare and make available to each Registering Stockholder and file with the SEC any such supplement or amendment, (ii) as soon as the Company becomes aware of any request by the SEC or any federal or state governmental authority for amendments or supplements to a Registration Statement or related prospectus covering Registrable Securities or for additional information relating thereto, (iii) as soon as the Company becomes aware of the issuance or threatened issuance by the SEC of any stop order suspending or threatening to suspend the effectiveness of a Registration Statement covering the Registrable Securities or (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose.
(viii) The Registering Stockholders holding a majority of the Registrable Securities to be included in a Demand Registration or intended to be sold pursuant to a Public Offering pursuant to a “take down” under a Shelf Registration shall have the right to select an underwriter or underwriters in connection with such Public Offering or “take down” (as the case may be) (which underwriter or underwriters may include any Affiliate of any Registering Stockholder so long as including such Affiliate would not require the separate engagement of a qualified independent underwriter with respect to such offering), subject to the Company’s approval (which shall not be unreasonably withheld, conditioned or delayed) and (ii) the Company shall select an Underwritten underwriter or underwriters in connection with any other Public Offering. In connection with any Public Offering, obtain for each Selling Holder the Company shall enter into customary agreements (including an underwriting agreement in customary form) and underwriter:
(1) an opinion take all other actions as are reasonably required in order to expedite or facilitate the disposition of counsel for the Company, covering the matters customarily covered such Registrable Securities in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy Public Offering, including, if required, the conditions for receipt engagement of a “comfortqualified independent underwriter” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by connection with the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary qualification of the Company or any business acquired by underwriting arrangements with FINRA.
(g) Subject to confidentiality arrangements customarily applicable to underwriters and the Registering Stockholders, the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly shall make available for inspection by any seller, Registering Stockholder and any underwriter participating in any disposition pursuant to any registration statement, a Registration Statement being filed by the Company pursuant to this Section 2.04 and any attorney, accountant or other agent or representative professional retained by any such seller Stockholder or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company and its Subsidiaries (collectively, the “Records”), ) as shall be reasonably necessary or desirable to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors directors, managers and employees (and those of the Company’s Subsidiaries) to supply all information reasonably requested by any such Inspector Inspectors in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Registration Statement.
(h) The Company shall not be required furnish to provide any information under this subparagraph (viii) each Registering Stockholder and to each such underwriter, if any, a signed counterpart, addressed to such Registering Stockholder or underwriter, of (i) the Company believes, after consultation with an opinion or opinions of counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow (ii) a comfort letter or comfort letters from the Company’s independent public accountants, at its expense, to undertake appropriate action each in customary form and to prevent disclosure covering such matters of the Records deemed confidential;kind customarily covered by opinions or comfort letters, as the case may be, any Registering Stockholder or the lead managing underwriter therefor reasonably requests.
(viiii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the The Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as practicablereasonably available, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of or such registration statement, which earnings statement other document that shall satisfy the provisions of Section 11(a) of the Securities Act and the requirements of Rule 158 thereunder;.
(xiij) cooperate The Company may require each Registering Stockholder promptly to furnish in writing to the Company such information regarding the distribution of the Registrable Securities as the Company may from time to time reasonably request and such other information as may be reasonably required in connection with such registration.
(k) Each Registering Stockholder agrees that, upon receipt of any notice from the sellers and Company of the managing underwriter happening of any event of the kind described in Section 2.04(e), such Stockholder shall forthwith discontinue disposition of Registrable Securities pursuant to facilitate the timely preparation and delivery Registration Statement (including any Shelf Registration) covering such Registrable Securities until such Stockholder’s receipt of certificates (which shall not bear any restrictive legends unless required under applicable lawi) copies of the supplemented or amended prospectus from the Company or (ii) further notice from the Company that distribution can proceed without an amended or supplemented prospectus, and, in the circumstances described in clause (i), if necessary or appropriateso directed by the Company, representing securities sold under such Stockholder shall deliver to the Company all copies, other than any registration statement, and enable such securities to be permanent file copies then in such denominations Stockholder’s possession, of the most recent prospectus covering such Registrable Securities at the time of receipt of such notice. If the Company shall give such notice, the Company shall extend the period during which such Registration Statement shall be maintained effective (including the period referred to in Section 2.04(a)) by the number of days during the period from and registered in such names as including the managing underwriter or such sellers may request and keep available and date of the giving of notice pursuant to Section 2.04(e) to the date when the Company shall (x) make available to such Stockholder a prospectus supplemented or amended to conform with the Company’s transfer agent prior requirements of Section 2.04(e) or (y) deliver to such Stockholder the notice described in clause (ii).
(l) The Company shall use its commercially reasonable efforts to list all Registrable Securities of any class or series covered by such Registration Statement on any national securities exchange on which any of the Registrable Securities of such class or series are then listed or traded.
(m) Upon written request (which request shall be given with reasonable advance notice) to the effectiveness Company by Registering Stockholders holding a majority of the Registrable Securities being sold in such registration statement a supply of such certificates as necessary or appropriate;
(xiii) offering, the Company shall have appropriate officers of the Company or its Subsidiaries (i) upon reasonable request and at reasonable times prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, (ii) take other actions to obtain ratings for any Registrable Securities and (iii) otherwise use its commercially reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;.
(xivn) if requested by any Selling Holders or any underwriterThe Company shall, promptly incorporate in the registration statement or any as soon as possible following its actual knowledge thereof, notify each Registering Stockholder: (A) when a prospectus, pursuant to any prospectus supplement, a supplement Registration Statement or a post-effective amendment if necessaryto a Registration Statement has been filed with the SEC, such information as such Selling Holders may reasonably and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective; (B) of any request by the SEC or any other federal or state governmental authority for amendments or supplements to have included thereina Registration Statement, including, without limitation, information relating a related prospectus (including a Free Writing Prospectus) or any other additional information; or (C) of the receipt by the Company of any notification with respect to the “Plan suspension of Distribution” the qualification or exemption from qualification of any of the Registrable Securities;Securities for sale in any jurisdiction or the initiation or threatening of any proceedings for such purpose.
(xvo) The Company shall reasonably cooperate with each Registering Stockholder and assist each underwriter participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“by FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and.
(xvip) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, shall take all other steps reasonably necessary to furnish effect the Company in writing such information regarding each Selling Holder or underwriter and the distribution registration of such Registrable Securities as and reasonably cooperate with the Company may from time to time reasonably request to complete or amend the information required by holders of such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, facilitate the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers disposition of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(cq) Each Selling Holder agrees that upon receipt The Company shall, within the deadlines specified by the Securities Act, make all required filings of all prospectuses (including any Free Writing Prospectus) with the SEC and make all required filing fee payments in respect of any notice from the Registration Statement or related prospectus used under this Agreement (and any offering covered hereby).
(r) The Company of the happening of any event of the kind described in Section 3.6(a)(ix)shall, if such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities registration is pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented a Registration Statement on Form S-3 or amended prospectus contemplated by Section 3.6(a)(ix) andany similar short-form registration, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then include in such Selling Holder’s possession of Registration Statement such additional information for marketing purposes as the prospectus current at the time of receipt of such notice relating managing underwriter with respect to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionunderwritten public offering reasonably requests.
Appears in 3 contracts
Samples: Investor Rights Agreement (Bellring Brands, Inc.), Investor Rights Agreement (Bellring Brands, Inc.), Investor Rights Agreement (Bellring Brands, Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts by the provisions of Section 3 or 4 to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Act, the Company shall shall, as promptly expeditiously as practicable (in each case, possible and until the Company's registration obligations terminate pursuant to the extent applicable):Section 5 hereof:
(ia) prepare and file with the Commission a the requisite registration statement to effect such registration, registration and thereafter use diligent efforts to cause each such registration statement to become and remain effective at until the earliest possible earlier of (A) the date permitted under the rules and regulations on which all of the Commission, and thereafter use commercially reasonable efforts to cause Registrable Securities covered by such registration statement have been disposed of by the Holder or Holders thereof in accordance with the intended methods of disposition thereof described in the registration statement (each Holder or Holders thereof hereby agreeing to remain effective inform the Company upon the completion of the disposition of their respective Registrable Securities); or (B) the expiration of the following periods: (i) in the case of any Holder, the period after which the Company's registration obligations terminate as to such Holder pursuant to Section 5 hereof; and (ii) in the terms case of this Agreement; provideda registration pursuant to Section 4 hereof, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to 180 days after the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, (as the Company will furnish periods specified in clauses (i) and (ii) above may be extended pursuant to the counsel selected by the holders penultimate paragraph of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessthis Section 6);
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for the applicable period specified in Section 6(a) hereof and to comply during such period with the provisions obligations of a registrant under the Securities Act with respect (including, without limitation, provisions relating to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof Holders set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivestatement);
(iiic) furnish to each Selling Holder of Registrable Securities covered by such registration statement and each underwriterunderwriter thereof, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and of any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, underwriter may reasonably request in order to facilitate the public sale or other disposition of the such Registrable Securities owned by such sellerSecurities;
(ivd) use commercially reasonable diligent efforts to register or qualify such all Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder thereof and any underwriter of the securities being sold by such Selling Holder thereof shall reasonably request, and to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (ivSection 6(d) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdictionjurisdiction (unless the Company is subject to service in such jurisdiction and except as may be required by the Securities Act);
(ve) use commercially reasonable efforts to cause such upon request, furnish each Holder of Registrable Securities a signed counterpart, addressed to be listed on each securities exchange on which similar securities issued by the Company are then listed andsuch Holder, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering dated the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case effective date of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (andor, if necessarysuch registration statement includes an underwritten public offering, any other independent registered dated the date of closing under the underwriting agreement), with opinions of issuer's counsel with respect to corporate and securities and patent issues as customarily delivered in connection with public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement)offerings;
(3f) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that notify each Holder of Registrable Securities agrees that it will, upon learning that disclosure of covered by such Records is sought in a court of competent jurisdiction, give notice to the Company registration statement and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwritersunderwriter thereof, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon the Company's discovery that, or upon the happening of any event of which the Company has knowledge as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such Holder or underwriter promptly prepare and furnish to such seller Holder or underwriter, if any, a reasonable number of copies of a supplement to prospectus supplemented or an amendment of such prospectus as may be necessary amended so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xig) otherwise use commercially reasonable diligent efforts to comply with all applicable rules and regulations of the Commission, and make generally available (within the meaning of Section 11(a) of the Securities Act and the regulations thereunder) to Selling Holdersits securityholders, as promptly soon as reasonably practicable, an earnings statement covering the a period of at least 12 months, but not more than 18 twelve months, beginning with the first day month of the Company’s first full fiscal quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 the regulations thereunder;
(xiih) cooperate with the sellers provide and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities cause to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s maintained a transfer agent prior to and registrar for all Registrable Securities covered by such registration statement from and after a date not later than the effectiveness effective date of such registration statement a supply of such certificates as necessary or appropriatestatement;
(xiiii) have appropriate officers use diligent efforts to list all Company Common Stock covered by such registration statement on each securities exchange on which any of the Company prepare and make presentations at Common Stock is then listed or, if the Company Common Stock is not then listed on any “road shows” and before analysts and rating agenciesnational securities exchange but is included in Nasdaq or the Nasdaq National Market, use diligent efforts to have such Company Common Stock included in Nasdaq or the Nasdaq National Market, as the case may be; and
(j) in connection with each such registration, give the Holders of Registrable Securities to be registered therein, their underwriters, if any, and otherwise use its up to one designated counsel and one designated accounting firm to represent the interests of such Holders, at the expense of such Holders, the reasonable best efforts opportunity to participate in the preparation prior to filing of the related registration statement, each prospectus included therein or filed with the Commission, and each amendment thereof or supplement thereto;
(k) upon receipt by the Company of reasonable confidentiality agreements, make available for inspection by any underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other agent retained by any such underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company's officers, directors, employees and independent accountants to be available on a reasonable basis and cooperate as with such parties' "due diligence" and to supply all information reasonably requested by any such underwriter, attorney, accountant or agent in connection with such registration statement, provided that the Selling Holders and Company may refrain from disclosing any proprietary or other information that is not material to the underwriters Company's financial condition or results of operations; and
(l) in the offering, marketing or selling event of the issuance of any stop order suspending the effectiveness of a registration statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any Company Common Stock included in such registration statement for sale in any jurisdiction, the Company will use diligent efforts promptly to obtain the withdrawal of such order. The Holders agree that, upon receipt of any notice from the Company of the occurrence of any event of the kind described in Section 6(f) hereof, the Holders will forthwith discontinue their disposition of Registrable Securities;
Securities pursuant to the registration statement relating to such Registrable Securities until the Holders' receipt of the copies of the supplemented or amended prospectus contemplated by Section 6(f) hereof and, if so directed by the Company, will deliver to the Company (xivat the Company's expense) if requested all copies, other than permanent file copies, then in the Holders' possession of the prospectus relating to such Registrable Securities current at the time of receipt of such notice. In the event the Company shall give any such notice, the three-year and 180-day periods referred to in Sections 5 and 6(a) hereof, respectively, shall be extended by the length of the period from and including the date when each Holder of any Selling Holders Registrable Securities covered by such registration statement shall have received such notice to the date on which each such Holder has received the copies of the supplemented or any underwriteramended prospectus contemplated by Section 6(f) hereof. In connection with each such registration, promptly incorporate each Holder of Registrable Securities to be named in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating shall furnish to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling such Holder or underwriter and the proposed distribution of such Registrable Securities as the Company may from time to time reasonably request in writing, and the delivery of such information shall be a condition precedent to complete or amend the information required by such obligation of the Company to file any registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Siegele Stephen H), Registration Rights Agreement (Siegele Stephen H), Registration Rights Agreement (Lawrence Lamonte H)
Registration Procedures. In the case of each registration effected by the Company pursuant to this Agreement, the Company will keep each Holder participating therein advised in writing as to the initiation of each registration and as to the completion thereof. At its expense the Company will:
(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission a registration statement to effect such registration, cause keep such registration statement effective for a reasonable period as necessary to become effective at permit the earliest possible date permitted under Holder or Holders to complete the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of distribution described in the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(iib) promptly prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect Act, and to the disposition of all securities covered by keep such registration statement until the earlier effective for that period of such time as all of such securities have been disposed of specified in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (iSection 7(a) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveabove;
(iiic) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies prospectuses and other documents incident thereto as a Holder from time to time may reasonably request;
(d) use reasonable best efforts to obtain the withdrawal of such any order suspending the effectiveness of a registration statement and statement, or the lifting of each amendment and supplement thereto (in each case including all exhibits), such number of copies any suspension of the prospectus contained in such registration statement (including each preliminary prospectus and qualification of any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerfor sale in any jurisdiction, at the earliest practical moment;
(ive) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement for offer and sale under such other the securities laws or blue sky Blue Sky laws of such jurisdictions as any Selling Holder and any or underwriter of the securities being sold by such Selling Holder shall reasonably requestrequires, and take any other action which may be reasonably necessary keep such registration or advisable to enable such Selling Holder and underwriter to consummate qualification effective during the disposition period set forth in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (ivSection 7(a) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdictionabove;
(vf) use commercially reasonable efforts to cause such all Registrable Securities covered by such registrations to be listed on each securities exchange exchange, including Nasdaq, on which similar securities issued by the Company are then listed andor, if no such securities are so listedlisting exists, use commercially reasonable best efforts to cause such list all Registrable Securities to be listed on one of the New York Stock Exchange, the American Stock Exchange or Nasdaq; and
(g) cause its accountants to issue to the Nasdaq Stock Marketunderwriter, if any, or the Holders, if there is no underwriter, comfort letters and updates thereof, in customary form and covering matters of the type customarily covered in such letters with respect to underwritten offerings;
(vih) use commercially reasonable efforts to cause enter into such customary agreements (including underwriting agreements in customary form) and take all such other actions as the holders of a majority of the Registrable Securities covered by such registration statement being sold or the underwriters, if any, reasonably, request in order to be registered with expedite or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate facilitate the disposition of such Registrable Securities;
Securities (vii) in connection with an Underwritten Offeringincluding, obtain for each Selling Holder and underwriter:
(1) an opinion without limitation, effecting a stock split or a combination of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statementshares);
(3i) promptly make available for inspection by any sellerseller of Registrable Securities, any underwriter participating in any disposition pursuant to any such registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”)underwriter, all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibilityCompany, and cause the Company’s 's officers, directors directors, employees and employees independent accountants to supply all information reasonably requested by any such Inspector seller, underwriter, attorney, accountant or agent in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixj) notify each Selling Holder, at any time when a prospectus relating thereto covered by such registration statement is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event of which it has knowledge as a result of which, which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain misleading in the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations light of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAcircumstances then existing; and
(xvik) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing take such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities other actions as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended reasonably requested by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionany Holder.
Appears in 3 contracts
Samples: Merger Agreement (Aris Corp/), Registration Rights Agreement (Aris Corp/), Registration Rights Agreement (Aris Corp/)
Registration Procedures. In the case of each registration effected by the Corporation pursuant to this Section 2, the Corporation will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. At its expense the Corporation will:
(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare Prepare and file with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules securities and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant to for at least two (2) years or, if earlier, until the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of distribution described in the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnesshas been completed;
(iib) prepare Prepare and file with the Commission during the period specified in Section 2.4(a) such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein with such registration statement as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until statement;
(c) Furnish to the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth Holders participating in such registration statement or (i) in and to the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, underwriters of the securities being sold by registered such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such reasonable number of copies of the registration statement, preliminary prospectus, final prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as the Holders and such Selling Holder and underwriter, if any, underwriters may reasonably request in order to facilitate the public sale or other disposition offering of the Registrable Securities owned by such sellersecurities;
(ivd) use commercially reasonable Furnish, at the request of any Holder requesting registration of Registrable Securities at the time such securities are delivered to the underwriters (if any) for sale in connection with a registration pursuant to this Section 2, (i) an opinion, dated such date, of the counsel representing the Corporation for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters and to the Holders requesting registration of Registrable Securities and (ii) a letter dated the date of commencement of the offering and a “bring-down” letter dated as of the closing date of such offering, from the independent accountants of the Corporation, in form and substance as is customarily given by independent accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities;
(e) Use its best efforts to register or and qualify such Registrable Securities the securities covered by such registration statement under such other securities laws or blue sky Blue Sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate requested by the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except Holders; provided that the Company Corporation shall not for any such purpose be required in connection therewith or as a condition thereto to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdictionstates or jurisdictions, unless the Corporation is already subject to service in such jurisdiction and except as may be required by the Securities Act;
(vf) use commercially reasonable efforts to cause such Registrable Securities to be listed on Notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Holder of Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Act as a result of the happening of any event as a result of which, which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xg) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of Cause all such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Registrable Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of by such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare to be listed on each securities exchange and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested quotations system on which similar securities issued by the Selling Holders and the underwriters in the offering, marketing Corporation are then listed or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementquoted.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Bioject Medical Technologies Inc), Registration Rights Agreement (Bioject Medical Technologies Inc), Registration Rights Agreement (Bioject Medical Technologies Inc)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable its best efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Agreement (including pursuant to a Demand Registration Request given under Section 4(a)), the Company shall will, as promptly expeditiously as practicable (in each case, to the extent applicable):reasonably possible:
(ia) prepare and file with the Commission a registration statement with respect to effect such registrationRegistrable Securities, and use its best efforts to cause such registration statement to become effective at and to keep the earliest possible date permitted under the rules and regulations sellers of Registrable Securities advised in writing of the Commissioninitiation and progress of proceedings regarding such registration, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities is being effected pursuant to Sections 3 or 4 herein at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish thereto (but only to the counsel selected by extent set forth in the holders of Registrable Securities which are to be included proviso contained in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessSection 3(a));
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for a period of not less than 180 days or such shorter period which will terminate when all Registrable Securities covered by such registration statement have been sold (but not before the expiration of the 90-day period referred to in Section 4(3) of the Securities Act and to Rule 174 thereunder, if applicable) and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement statement; provided, however, that prior to filing with the Commission any such registration statement, prospectus or (i) in the case of a Demand Registration pursuant to Section 3.1amendment or supplement thereto, the expiration Company shall furnish copies thereof to counsel for the sellers of 60 days after Registrable Securities under such registration statement becomes effectivestatement, or (ii) in the case of a Piggyback Registration pursuant which document will be subject to Section 3.2, the expiration of 60 days after reasonably prompt review by such registration statement becomes effectivecounsel;
(iiic) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by such Selling Holder Registrable Securities such number of conformed copies of such registration statement and of each such amendment and supplement thereto thereof (in each case including all exhibits), such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivd) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderseller; provided, except however, that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would is not but for the requirements of this clause (iv) be obligated to be then so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a take any action which would subject it to general consent to service of process in any such jurisdictionjurisdiction where it is not then so subject or subject itself to general taxation in any jurisdiction where it is not then so subject;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on immediately notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such seller of any Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities ActAct within the appropriate period mentioned in clause (b) of this Section 5, upon discovery that, or upon of the happening of any event as a result of which, Company becoming aware that the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, at the request of any Selling Holder, promptly and within ten days prepare and furnish to such seller all sellers a reasonable number of copies of a supplement to an amended or an amendment of such supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xf) make every reasonable effort use its best efforts to obtain list such Registrable Securities on any securities exchange on which the withdrawal Common Stock is then listed or NASDAQ if the Common Stock is then quoted on NASDAQ, if such Registrable Securities are not already so listed or quoted and if such listing is then permitted under the rules of any order suspending such exchange or NASDAQ, and provide an independent transfer agent and registrar for such Registrable Securities covered by such registration statement not later than the effectiveness effective date of such registration statement;
(xig) otherwise use commercially reasonable efforts furnish to comply with all applicable rules each seller of Registrable Securities covered by such registration statement a signed counterpart, addressed to such seller (and regulations the underwriters, if any) of:
(i) an opinion of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of counsel for the Company’s first full quarter after , dated the effective date of such registration statementstatement (or, which earnings statement shall satisfy if such registration involves an underwritten public offering, dated the provisions of Section 11(a) date of the Securities Act closing under the underwriting agreement), reasonably satisfactory in form and Rule 158 thereunder;
(xii) cooperate with substance to the sellers of not less than 50% of such Registrable Securities (and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law)underwriter, if necessary or appropriateany); and
(ii) a “comfort” letter, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as dated the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness effective date of such registration statement a supply of (or, if such certificates as necessary or appropriate;
(xiii) have appropriate officers registration involves an underwritten Public Offering, dated the date of the Company prepare underwriting agreement and make presentations at any a “road showsbring down” and before analysts and rating agenciesletter dated the date of the closing under the underwriting agreement), signed by the independent public accountants who have certified the Company’s financial statements included in such registration statement, covering such matters with respect to such registration statement as are customarily covered in accountants’ letters delivered to the case underwriters in Underwritten Offerings of securities as may be, and otherwise use its reasonable best efforts to cooperate as reasonably be requested by the Selling Holders sellers of not less than 50% of such Registrable Securities (and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any managing underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAany); and
(xvih) otherwise use commercially reasonable efforts make available for inspection by any seller of such Registrable Securities covered by such registration statement, by any underwriter participating in any disposition to comply with be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by any such seller or any such underwriter (individually, an “Inspector” and collectively, the “Inspectors”), all applicable rules pertinent financial and regulations other records, pertinent corporate documents and properties of the Commission Company as shall be reasonably necessary to enable them to exercise their due diligence responsibilities (collectively, the “Records”), and cause all reporting requirements of the Company’s officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, or Inspector in connection with such registration statement; provided that any Records that are designated by the Company in writing as confidential shall be kept confidential by the Inspectors unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission of material fact in such registration statement or (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction or by any regulatory authority having jurisdiction. Each Investor agrees that non-public information obtained by it as a result of such Inspections shall be deemed confidential and acknowledges its obligations under the rules and regulations Federal securities laws not to trade any securities of the Exchange ActCompany on the basis of material non-public information. The Company may require each Selling Holder seller of Registrable Securities as to which any registration is being effected promptly to furnish to the Company (i) an opinion of counsel for such seller dated the effective date of the registration statement relating to such seller’s Registrable Securities (or, if such registration involves an underwritten Public Offering, dated the date of the closing under the underwriting agreement), reasonably satisfactory in form and each substance to the Company (and the managing underwriter, if any, to furnish the Company in writing ) and (ii) such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as may be legally required. Such information shall be furnished in writing and shall state that it is being furnished for use in the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering . Each holder of Registrable Securities is to be made agrees by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers acquisition of such Registrable Securities)Securities that, unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in clause (e) of this Section 3.6(a)(ix)5, such Selling Holder shall holder will forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holderholder’s receipt of the copies of the supplemented or amended prospectus contemplated by clause (e) of this Section 3.6(a)(ix) 5, and, if so directed by the Company, such holder will deliver to the Company, Company (at the Company’s expense, ) all copies, other than permanent file copies, copies then in such Selling Holderholder’s possession possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securitiesthe Company’s notice. In the event the Company shall give any such notice, any applicable 60-day the period during which such registration statement must remain effective pursuant to mentioned in clause (b) of this Agreement Section 5 shall be extended by the number of days during the period from and including the date of the giving of a such notice regarding the happening pursuant to clause (e) of an event of the kind described in this Section 3.6(a)(ix) to 5 and including the date when all each seller of Registrable Securities covered by such Selling Holders registration statement shall receive such a have received the copies of the supplemented or amended prospectus and such prospectus shall have been filed with the Commissioncontemplated by clause (e) of this Section 5.
Appears in 3 contracts
Samples: Securities Holders Agreement (Sheridan Group Inc), Registration Rights Agreement (Sheridan Group Inc), Securities Holders Agreement (Sheridan Group Inc)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 5.1, 5.2 and 3.2, 5.3 the Company shall as promptly expeditiously as practicable (in each case, to the extent applicable):reasonably possible:
(i) prepare and file with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“"Selling Holders”") copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.15.1, the expiration of 60 days after such registration statement becomes effective, effective or (ii) in the case of a Piggyback Registration pursuant to Section 3.25.2, the expiration of 60 days after such registration statement becomes effective or (iii) in the case of a Shelf Registration pursuant to Section 5.3, the expiration of one year after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange, the American Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “"comfort” " letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.a
Appears in 3 contracts
Samples: Stockholders Agreement (Fortress Investment Group LLC), Stockholders Agreement (Brookdale Senior Living Inc.), Stockholders Agreement (Brookdale Senior Living Inc.)
Registration Procedures. In the case of each registration effected by the Company pursuant to Section 2, the Company will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. At its expense, the Company will use its commercially reasonable efforts to:
(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission a registration statement to effect such registration, cause Keep such registration statement to become effective at for a period of ending on the earliest possible date permitted under the rules and regulations earlier of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities date which are not Registrable Securities at any time prior to is one hundred twenty (120) days from the effective date of the registration statement or such time as the Holder or Holders have completed the distribution described in the registration statement relating thereto; provided, further however, that before filing (i) such registration statement or any amendments thereto, the Company will furnish one hundred twenty (120) day period shall be extended for a period of time equal to the counsel selected by period the holders Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration, and (ii) in the case of any registration of Registrable Securities which on Form S-3 that are intended to be included in offered on a continuous or delayed basis, subject to compliance with applicable Commission rules, such one hundred twenty (120) day period shall be extended for up to 12 months, if necessary, to keep the registration (“Selling Holders”) copies of statement effective until all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessRegistrable Securities are sold;
(iib) prepare Prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein with such registration statement as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until for the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof period set forth in such subsection (a) above; provided further that in connection with any registration statement or (i) in the case of a Demand Registration on Form S-3 pursuant to Section 3.12.3 above, the expiration of 60 days after Company agrees to timely file all reports required under the Exchange Act in order to maintain the right to continue to use such Form S-3 and to maintain such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveeffect;
(iiic) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder Furnish such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case prospectuses, including all exhibits), such number of copies of the prospectus contained in such registration statement (including each any preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Actprospectuses, and other documents incident thereto, including any Issuer Free Writing Prospectus amendment of or supplement to the prospectus, and such other documents as such Selling Holder and underwriter, if any, the Holders may reasonably request in order to facilitate the public sale or other their disposition of the their Registrable Securities owned by such sellerSecurities;
(ivd) use commercially Use its reasonable best efforts to register or and qualify such Registrable Securities the securities covered by such registration statement under such other securities laws or blue sky Blue Sky laws of such jurisdictions jurisdiction as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate requested by the disposition in such jurisdictions of the Registrable Securities owned by such Selling HolderHolders; provided, except that the Company shall not for any such purpose be required in connection therewith or as a condition thereto to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdictionstates or jurisdictions unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on Notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such seller of Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Act of the happening of any event as a result of which, which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading or incomplete in light of the circumstances then existing, and, at the request of any Selling Holder, and following such notification promptly prepare and furnish to such seller Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiesshares, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading or incomplete in light of the circumstances then existing;
(xf) make every reasonable effort Provide a transfer agent and registrar for all Registrable Securities registered pursuant to obtain such registration statement and a CUSIP number for all such Registrable Securities, in each case not later than the withdrawal of any order suspending the effectiveness effective date of such registration statementregistration;
(xig) otherwise Cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company are then listed;
(h) Otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xiii) cooperate In connection with any underwritten offering pursuant to a registration statement filed pursuant to Section 2.1 hereof, enter into an underwriting agreement in form reasonably necessary to effect the sellers offer and the managing underwriter to facilitate the timely preparation sale of Common Stock, provided such underwriting agreement contains reasonable and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statementcustomary provisions, and enable such securities to be provided further, that each Holder participating in such denominations underwriting shall also enter into and registered in perform its obligations under such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;an agreement; and
(xiiij) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use Use its reasonable best efforts to cooperate as reasonably requested by furnish, at the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such requesting registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to this Section 2, on the applicable date that such Registrable Securities are delivered to the underwriters for sale in connection with a registration statement and prospectus relating thereto until pursuant to this Section 2, if such Selling Holder’s receipt securities are being sold through underwriters, (i) an opinion, dated such date, of the copies counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering and reasonably satisfactory to a majority in interest of Holders requesting registration, addressed to the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) andunderwriters, if so directed by any, and to the Holders requesting registration of Registrable Securities, and (ii) a letter dated such date, from the independent certified public accountants of the Company, deliver in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering and reasonably satisfactory to a majority in interest of the Holders requesting registration, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities.
(k) Promptly make available for inspection by the selling Holders, any underwriter participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all financial and other records, pertinent corporate documents, and properties of the Company, at and cause the Company’s expenseofficers, directors, employees, and independent accountants to supply all copiesinformation reasonably requested by any such seller, other than permanent file copiesunderwriter, then attorney, accountant, or agent in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, connection with any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionstatement.
Appears in 3 contracts
Samples: Investors’ Rights Agreement (T2 Biosystems, Inc.), Investors’ Rights Agreement (T2 Biosystems, Inc.), Investors’ Rights Agreement (T2 Biosystems, Inc.)
Registration Procedures. (a) If and whenever the Company is required by the provisions of this Agreement to use commercially reasonable its best efforts to effect the or cause a registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 this Agreement and 3.2at such times as customarily occur in registered offerings or Shelf Takedowns, as applicable, the Company shall as promptly as practicable (in each case, will:
5.1 Use its best efforts to the extent applicable):
(i) prepare and file with the Commission SEC, a registration statement within the time periods specified herein, and use its best efforts to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules as promptly as practicable and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to for the terms lesser of this Agreement; provided(x) one hundred twenty days (or, howeverin the case of an shelf registration statement on Form S-3, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to three years from the effective date of the registration statement relating thereto; provided, further that before filing if such registration statement or any amendments thereto, is filed pursuant to Rule 415 promulgated under the Company Securities Act) and (y) such shorter period which will furnish to the counsel selected by the holders of terminate when all Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to covered by such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep have been sold (or, if such registration statement effective Statement is an automatic shelf registration statement, on the third anniversary of the date of filing of such automatic shelf registration statement); and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement;
5.2 Prepare and file with the SEC such amendments, post-effective amendments and supplements to such registration statement and the Prospectus used in connection therewith as may be necessary to keep such registration statement effective for such period of time required by Section 5(a) above;
5.3 Within a reasonable time prior to the filing of any registration statement, any Prospectus, any amendment to a registration statement, amendment or supplement to a Prospectus or any free writing prospectus, provide copies of such documents to the Holders of the Registrable Securities being sold and to the underwriter or underwriters of an underwritten offering, if applicable, and to underwriter’s counsel; fairly consider such reasonable changes in any such documents prior to or after the filing thereof as Holders or the underwriter or the underwriters may request;
5.4 Within a reasonable time prior to the filing of any document which is to be incorporated by reference into a registration statement or a Prospectus, provide copies of such document to underwriter’s counsel and counsel for the Holders; fairly consider such reasonable changes in such document prior to or after the filing thereof as underwriter’s counsel or counsel for the Holders shall request; and make such of the representatives of the Company as shall be reasonably requested by such counsel available for discussion of such document;
5.5 Comply in all material respects with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during the period during which any such registration statement is required to be effective;
5.6 Furnish to Holders and any underwriter of Registrable Securities, (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of copies (including manually executed and conformed copies copies) of such registration statement and of each amendment thereof and supplement thereto (in each case including all annexes, appendices, schedules and exhibits), (ii) such number of copies of the prospectus contained Prospectus, used in connection with such registration statement (including each preliminary prospectus and Prospectus, any summary prospectusProspectus and the final Prospectus), and (iii) and any such number of copies of other prospectus filed under Rule 424 under the Securities Actdocuments, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and each case as Holders or such other documents as such Selling Holder and underwriter, if any, underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(iv) use commercially reasonable 5.7 Use its best efforts to register or qualify such all Registrable Securities covered by such registration statement under such other the securities laws or “blue sky sky” laws of such jurisdictions states of the United States as any Selling Holder and Holders or any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary requested by Holders or advisable to enable such Selling Holder and underwriter to consummate the offering and disposition of Registrable Securities in such jurisdictions of the Registrable Securities owned by such Selling Holderjurisdictions; provided, except however, that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation or as a dealer in securities, subject itself to taxation, or consent to general service of process in any jurisdiction wherein it would is not but for then so qualified or subject;
5.8 Reasonably cooperate with Holders and the requirements sole underwriter or managing underwriter of this clause (iv) be obligated an underwritten offering of shares, if any, to facilitate the timely preparation and delivery of certificates representing the shares to be so qualifiedsold and not bearing any restrictive legends; and enable such shares to be in such denominations (consistent with the provisions of the governing documents thereof) and registered in such names as the Holders or the sole underwriter or managing underwriter of an underwritten offering of shares, if any, may reasonably request at least five days prior to subject itself to taxation in any sale of such jurisdiction or to file a general consent to service of process in any such jurisdictionshares;
(v) use commercially reasonable 5.9 Use, as soon as practicable after the effectiveness of the registration statement, best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with with, or approved by by, such other United States public, governmental agencies or authorities regulatory authorities, if any, as may be necessary to enable the Selling Holder(s) thereof to consummate required in connection with the disposition of such Registrable Securities;
(vii) 5.10 Use its best efforts to list the securities covered by such registration statement on any securities exchange on which any securities of the Company is then listed, if the listing of such Registrable Securities are then permitted under the applicable rules of such exchange;
5.11 Cooperate with each selling Holder and each underwriter participating in the disposition of such Registrable Securities and their respective counsel in connection with an Underwritten Offering, obtain for each Selling Holder any filings required to be made with FINRA;
5.12 Take all other steps reasonably necessary to effect the registration of the Registrable Securities contemplated hereby and underwriter:
reasonably cooperate with the holders or underwriters (1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any an underwritten offering) of such Person which does not satisfy Registrable Securities to facilitate the conditions for receipt disposition of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement)Registrable Securities pursuant thereto;
(3) promptly make available for inspection by any seller5.13 Notify each selling Holder, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with its counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the managing underwriters, if any, of the following events:
promptly, and (1if requested by any such Person) the filing of the registration statementconfirm such notice in writing, the prospectus (i) when a Prospectus or any prospectus Prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement has been filed, and, with respect to the a registration statement or any post-effective amendment theretoamendment, when the same has become effective;
, (2ii) of any request by the Commission SEC or any other federal or state governmental authority for amendments or supplements to the a registration statement or the prospectus related Prospectus or for additional information;
, (3iii) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the a registration statement or the initiation of any proceedings by any Person for that purpose;
, (4iv) when if at any Issuer Free Writing Prospectus includes information time the Company has reason to believe that may conflict with the information representations and warranties of the Company contained in the registration statement; and
any agreement (5including any underwriting agreement) contemplated by Section 5(o) below cease to be true and correct, (v) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction jurisdiction, or the initiation or threat threatening of any proceeding for such purpose;
, and (ixvi) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under if the Securities Act, upon discovery that, or upon Company has knowledge of the happening of any event as a result that makes any statement made in such registration statement or related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of which, the prospectus included any changes in such registration statement, as then Prospectus or documents so that, in effectthe case of the registration statement, includes an it will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein therein, not misleading, andand that in the case of the Prospectus, at it will not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the request statements therein, in light of the circumstances under which they were made, not misleading (which notice shall notify the selling holders only of the occurrence of such an event and shall provide no additional information regarding such event to the extent such information would constitute material non-public information);
5.14 upon the occurrence of, and its knowledge of, any Selling Holderevent contemplated by Section 5(m)(vi) above, promptly prepare and furnish a supplement or post-effective amendment to such seller a reasonable number of copies of the registration statement or a supplement to the related Prospectus or an amendment of such prospectus as may any document incorporated or deemed to be necessary incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of such the Registrable SecuritiesSecurities being sold thereunder, such prospectus shall that the registration statement will not include contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, not misleading, and the Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading;
(x) make every reasonable effort 5.15 enter into such agreements and take such other appropriate actions as are customary and reasonably necessary to obtain expedite or facilitate the withdrawal of any order suspending the effectiveness disposition of such registration statement;
Registrable Securities (xi) otherwise use commercially reasonable efforts including, in the case of an underwritten offering, underwriting agreements in customary form, and including provisions with respect to comply indemnification and contribution in customary form and consistent with all applicable rules the provisions relating to indemnification and regulations contribution contained herein), and in that regard, deliver to the Holders such documents and certificates as may be reasonably requested by any Holder of the Commission, and make available to Selling HoldersRegistrable Securities being sold or, as promptly as practicableapplicable, an earnings statement covering the period of at least 12 monthsmanaging underwriters, but not more than 18 months, beginning with the first day of to evidence the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate compliance with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, this Agreement including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use using its commercially reasonable efforts to comply with all applicable rules cause its independent accountants to deliver to the Company (and regulations to the Holders of Registrable Securities being sold in any registration) an accountants’ comfort letter substantially similar to that in scope delivered in an underwritten public offering and covering audited and interim financial statements included in the registration statement or, if such letter can not be obtained through the exercise of the Commission Company’s commercially reasonable efforts, cause its independent accountants to deliver to the Company (and all reporting requirements to the Holders of Registrable Securities being sold in any registration) a comfort letter based on negotiated procedures providing comfort with respect to the Company’s financial statements included or incorporated by reference in the registration statement at the highest level permitted to be given by such accountants under the rules and regulations then applicable standards of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, Association of Independent Certified Accountants with respect to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreementaddition, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers Holders of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unlessincluded in any registration hereunder an opinion of counsel in substance and scope to that customarily delivered to underwriters in public offerings; and
5.16 if such sale is pursuant to an underwritten public offering, in obtain a “cold comfort” letter dated the effective date of the registration statement and the date of the closing under the underwriting agreement from the Company’s sole discretion, independent registered public accounting firm in customary form and covering such matters of the type customarily covered by “cold comfort” letters as the managing underwriter reasonably requests. Each Holder agrees if such Holder has Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in covered by such form)registration statement that, in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any written notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix)5(m)(vi) or the existence of a Blackout Period, such Selling Holder shall holder will forthwith discontinue such Selling Holder’s disposition of such Registrable Securities pursuant to the applicable covered by such registration statement and prospectus relating thereto or Prospectus until such Selling Holderholder’s receipt of the copies of the supplemented or amended prospectus Prospectus contemplated by Section 3.6(a)(ix) and5(n), if so directed or until it is advised in writing by the CompanyCompany that the use of the applicable Prospectus may be resumed, deliver and has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus; provided, however, that the time periods under Section 5(a) with respect to the Company, at length of time that the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession effectiveness of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such a registration statement must remain effective pursuant to this Agreement be maintained shall automatically be extended by the number amount of days during time the period from the date holder is required to discontinue disposition of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionsecurities.
Appears in 3 contracts
Samples: Registration Rights Agreement (Lightyear Fund Ii Lp), Merger Agreement (Vantagesouth Bancshares, Inc.), Merger Agreement (YADKIN FINANCIAL Corp)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities 1933 Act as provided in Sections 3.1 and 3.2Section 2.2 and, as applicable, 2.3, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a registration statement SEC the Registration Statement, or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under 1933 Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the SEC, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.2); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any registration statement pursuant to Section 2.2 or Section 2.3, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities 1933 Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of thirty six (36) months after the date of this Agreement (subject to the right of the Company to suspend the effectiveness thereof for not more than 10 consecutive Trading Days or an aggregate of 20 Trading Days during each year (each a "Black-Out Period")) or such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback "Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveMaintenance Period");
(iii) furnish to each Selling Holder and each underwriter, if any, holder of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities 1933 Act, in conformity with the requirements of the Securities 1933 Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder holder of Registrable Securities and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerholder of Registrable Securities;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder of Registrable Securities to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderholder of Registrable Securities, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) holder of Registrable Securities thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offeringfurnish to each holder of Registrable Securities a signed counterpart, obtain for each Selling Holder addressed to such holder of Registrable Securities, and underwriter:
(1) the underwriters, if any, of an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), reasonably satisfactory in opinions requested form and substance to such holder of Registrable Securities) including that the prospectus and any prospectus supplement forming a part of the Registration Statement does not contain an untrue statement of a material fact or omits a material fact required to be stated therein or necessary in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwritersorder to make the statements therein, in light of the circumstances under which they were made, not misleading, and
(2vii) a “comfort” letter (or, notify the Investor and its counsel promptly and confirm such advice in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of writing promptly after the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);has knowledge thereof:
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) when the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment thereto, when the same has become effective;
(2B) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3C) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5D) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling Holderholder of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities 1933 Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such holder of Registrable Securities promptly prepare and furnish to such seller holder of Registrable Securities a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xix) make every reasonable effort use its best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities 1933 Act and Rule 158 thereunder;
(xi) enter into such agreements and take such other actions as the Investors shall reasonably request in writing (at the expense of the requesting or benefiting Investors) in order to expedite or facilitate the disposition of such Registrable Securities; and
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list all Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling such registration statement on any securities exchange on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed. The Company may require each Selling Holder and each underwriter, if any, holder of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such holder of Registrable Securities and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementin writing.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Kahiki Foods Inc), Registration Rights Agreement (Kahiki Foods Inc), Registration Rights Agreement (Global Axcess Corp)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Section 2.1 and, as applicable, 2.2, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a registration statement the Registration Statement, or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under Securities Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the Commission, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.1); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any registration statement pursuant to Section 2.1, prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of six (6) years after the date of this Agreement(subject to the right of the Company to suspend the effectiveness thereof for not more than 10 consecutive days or an aggregate of 30 days in such six (6) years period) or such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback "Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveMaintenance Period");
(iii) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder seller and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder seller thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderseller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offeringfurnish to each seller of Registrable Securities a signed counterpart, obtain for each Selling Holder addressed to such seller, and underwriterthe underwriters, if any, of:
(1A) an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement),reasonably satisfactory in opinions requested form and substance to such seller) including that the prospectus and any prospectus supplement forming a part of the Registration Statement does not contain an untrue statement of a material fact or omits a material fact required to be stated therein or necessary in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwritersorder to make the statements therein, in light of the circumstances under which they were made, not misleading, and
(2B) a “"comfort” " letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “"comfort” " letter specified in Statement on Auditing Standards No. 72, an “"agreed upon procedures” " letter) ), dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, a letter of like kind dated the date of the closing under the underwriting agreement), signed by the independent registered public accountants who have certified the Company’s 's financial statements statement included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, covering substantially the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information same matters with respect to such registration statement (iand the prospectus included therein) or (ii) such holder and, in the case of Registrable Securities requesting such information agreesthe accountants' letter, and causes each of its Inspectors, with respect to enter into a confidentiality agreement on terms reasonably acceptable events subsequent to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure date of such Records is sought financial statements, as are customarily covered in a court opinions of competent jurisdiction, give notice issuer's counsel and in accountants' letters delivered to the Company and allow underwriters in underwritten public offerings of securities (with, in the Companycase of an "agreed upon procedures" letter, at its expensesuch modifications or deletions as may be required under Statement on Auditing Standards No. 35) and, to undertake appropriate action and to prevent disclosure in the case of the Records deemed confidential;
accountants' letter, such other financial matters, and, in the case of the legal opinion, such other legal matters, as such seller (viii) promptly notify in writing each Selling Holder and or the underwriters, if any, of ) may reasonably request;
(vii) notify the following eventsSellers' Representative and its counsel promptly and confirm such advice in writing promptly after the Company has knowledge thereof:
(1A) when the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment thereto, when the same has become effective;
(2B) of any request by the Commission for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3C) of the issuance by the Commission of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5D) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling Holderseller of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such seller promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xix) make every reasonable effort use its best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xi) enter into such agreements and take such other actions as the Sellers' Representative shall reasonably request in writing (at the expense of the requesting or benefiting sellers) in order to expedite or facilitate the disposition of such Registrable Securities; and
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list all Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling such registration statement on any securities exchange on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed. The Company may require each Selling Holder and each underwriter, if any, seller of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such seller and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request in writing. The Company will not file any registration statement pursuant to complete Section 2.1, or amend amendment thereto or any prospectus or any supplement thereto (including such documents incorporated by reference and proposed to be filed after the information initial filing of the Registration Statement) to which the Sellers' Representative shall reasonably object, provided that the Company may file such documents in a form required by such registration statement.
(b) Without limiting any law or upon the advice of the foregoing, in the event that the offering its counsel. The Company represents and warrants to each holder of Registrable Securities is that it has obtained all necessary waivers, consents and authorizations necessary to be made execute this Agreement and consummate the transactions contemplated hereby other than such waivers, consents and/or authorizations specifically contemplated by or through an underwriterthe Securities Purchase Agreement. Each Fund agrees that, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening occurrence of any event of the kind described in subdivision (viii) of this Section 3.6(a)(ix)2.3, such Selling Holder shall Fund will forthwith discontinue such Selling Holder’s Fund's disposition of Registrable Securities pursuant to the applicable registration statement and prospectus Registration Statement relating thereto to such Registrable Securities until such Selling Holder’s Fund's receipt of the copies of the supplemented or amended prospectus contemplated by subdivision (viii) of this Section 3.6(a)(ix) 2.3 and, if so directed by the Company, will deliver to the Company, Company (at the Company’s 's expense, ) all copies, other than permanent file copies, then in such Selling Holder’s Fund's possession of the prospectus relating to such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Directplacement Inc), Registration Rights Agreement (Dial Thru International Corp), Registration Rights Agreement (Directplacement Inc)
Registration Procedures. (a) If and whenever the Company is required Whenever any Holder has requested that any shares of Common Stock be registered pursuant to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.21.1, 1.2 or 1.3 hereof, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):reasonably possible:
(ia) prepare and file with the Commission SEC a registration statement with respect to effect such registration, shares and use its reasonable best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and as soon as reasonably practicable thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further (provided that before filing such a registration statement or prospectus or any amendments or supplements thereto, the Company will shall furnish to the counsel selected by the holders of Registrable Securities which are to be included in for such registration (“Selling Holders”) Holder with copies of all such documents proposed to be filed) and to cause such registration statement to comply as to form and content in all material respects with the SEC's forms, which documents will be subject to the review of such counsel, rules and such review to be conducted with reasonable promptnessregulations;
(iib) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions for a period of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or not less than 120 days (i) 2 years in the case of a Demand Registration registration pursuant to Section 3.1, 1.3 hereof) or until such Holder has completed the expiration of 60 days after distribution described in such registration statement becomes effectivestatement, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivewhichever occurs first;
(iiic) furnish to each Selling such Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of such registration statement, each amendment and supplement thereto, the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(ivd) use commercially its reasonable efforts to register or qualify such Registrable Securities covered by such registration statement shares under such other securities laws or blue sky laws of such jurisdictions as any Selling such Holder requests (and any underwriter to maintain such registrations and qualifications effective for a period of 120 days (2 years in the securities being sold by case of a registration pursuant to Section 1.3 hereof) or until such Selling Holder shall reasonably requesthas completed the distribution of such shares, whichever occurs first), and take to do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except shares (provided that the Company shall will not for any such purpose be required to (i) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not be required but for the requirements of this clause subsection (iv4), (ii) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction jurisdiction, or to (iii) file a any general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, provided that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable notwithstanding anything to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought contrary in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, this Agreement with respect to the registration statement bearing of expenses, if any such jurisdiction shall require that expenses incurred in connection with the qualification of such shares in that jurisdiction be borne in part or any post-effective amendment theretofull by such Holder, when then such Holder shall pay such expenses to the same has become effectiveextent required by such jurisdiction;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixe) notify each Selling such Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities ActAct within the period that the Company is required to keep the registration statement effective, upon discovery that, or upon of the happening of any event as a result of which, which the prospectus included in any such registration statement, as then in effect, includes statement contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, andand promptly prepare, at the request of any Selling Holder, promptly prepare file and furnish to such seller a reasonable number of copies of the Holder a supplement or amendment to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiesshares, such prospectus shall will not include contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or or, in light of the circumstances then existing, necessary to make the statements therein not misleading;
(xf) make every reasonable effort cause all such shares to obtain be listed on securities exchanges, if any, on which similar securities issued by the withdrawal of any order suspending Company are then listed;
(g) provide a transfer agent and registrar for all such shares not later than the effectiveness effective date of such registration statement;
(xih) otherwise use commercially enter into such customary agreements and take all such other actions as such Holder reasonably requests (and subject to its reasonable efforts approval) in order to comply with all applicable rules and regulations expedite or facilitate the disposition of the Commission, and such shares;
(i) make available for inspection by such Holder, by any underwriter participating in any distribution pursuant to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(aand by any attorney, accountant or other agent retained by such Holder or by any such underwriter, all financial and other records, pertinent corporate documents, and properties (other than confidential intellectual property) of the Securities Act and Rule 158 thereunderCompany;
(xiij) cooperate with if the sellers offering is underwritten and at the managing underwriter request of any seller of Registrable Securities, use its best efforts to facilitate furnish on the timely preparation date that Registrable Securities are delivered to the underwriters for sale pursuant to such registration: (i) an opinion dated such date of counsel representing the Company for the purposes of such registration, addressed to the underwriters and delivery to such seller, stating that such registration statement has become effective under the Act and that (A) to the best knowledge of certificates such counsel, no stop order suspending the effectiveness thereof has been issued and no proceedings for that purpose have been instituted or are pending or contemplated under the Act, (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any B) the registration statement, the related prospectus and enable each amendment or supplement thereof comply as to form in all material respects with the requirements of the Act (except that such securities counsel need not express any opinion as to financial statements or other financial or statistical data contained therein), (C) to such other customary matters as reasonably may be in requested by counsel for the underwriters or by such denominations seller or its counsel and registered in such names (D) (not an opinion but as the managing underwriter or such sellers may request and keep available and make available a negative assurance) that to the Company’s transfer agent prior to the effectiveness best knowledge of such counsel, such registration statement does not contain a supply material misrepresentation or omission to state a material fact necessary to make the statements therein not misleading; and (ii) a letter dated such date from the independent public accountants retained by the Company, addressed to the underwriters and to such seller, stating that they are independent public accountants within the meaning of the Act and that, in the opinion of such certificates as necessary or appropriate;
(xiii) have appropriate officers accountants, the financial statements of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate included in the registration statement or any the prospectus, pursuant or any amendment or supplement thereof, comply as to a supplement or post-effective amendment if necessaryform in all material respects with the applicable accounting requirements of the Act, and such letter shall additionally cover such other financial matters (including information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan period ending no more than five business days prior to the date of Distribution” of the Registrable Securities;
(xvsuch letter) cooperate and assist in any filings required with respect to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAsuch registration as such underwriters reasonably may request; and
(xvik) otherwise use commercially reasonable efforts in connection with an underwritten offering pursuant to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwritera registration statement filed pursuant to Section 1.1 hereof, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or in customary form and containing customary provisions, including provisions for indemnification of underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) andcontribution, if so directed requested by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionunderwriter.
Appears in 3 contracts
Samples: Registration Rights Agreement (Interland Inc), Registration Rights Agreement (Micron Technology Foundation Inc), Registration Rights Agreement (Interland Inc /Mn/)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 2.1 and 3.22.2, the Company shall will, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and (within 90 days after the end of the period within which requests for registration may be given to the Company or in any event as soon thereafter as practicable) file with the Commission a the requisite registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to remain effective pursuant to the terms of this Agreementbecome effective; provided, however, that the Company may discontinue any registration of its securities which that are not Registrable Securities (and, under the circumstances specified in Sections 2.2(a) or 2.6, if applicable, its securities that are Registrable Securities) at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier of (a) such time as all of such securities Registrable Securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or and (ib) in 180 days after the case effective date of a Demand Registration such registration statement, except with respect to any registration statement filed pursuant to Section 3.1Rule 415 under the Securities Act if the Company is eligible to file a registration statement on Form S-3, in which case the expiration of 60 days after Company shall use its best efforts to keep the registration statement effective and updated, from the date such registration statement becomes effective, or (ii) in is declared effective until such time as all of the case of a Piggyback Registration pursuant Registrable Securities cease to Section 3.2, the expiration of 60 days after such registration statement becomes effectivebe Registerable Securities;
(iii) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold Registrable Securities covered by such Selling Holder registration statement, such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(iv) use commercially reasonable its best efforts (x) to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter States of the securities being sold United States of America where an exemption is not available and as the sellers of Registrable Securities covered by such Selling Holder registration statement shall reasonably request, (y) to keep such registration or qualification in effect for so long as such registration statement remains in effect and (z) to take any other action which that may be reasonably necessary or advisable to enable such Selling Holder and underwriter sellers to consummate the disposition in such jurisdictions of the Registrable Securities owned securities to be sold by such Selling Holdersellers, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use commercially reasonable its best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other federal or state governmental agencies or authorities as may be necessary in the opinion of counsel to the Company and counsel to the seller or sellers of Registrable Securities to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72an underwritten or "best efforts" offering, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, furnish at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions to each seller of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statementRegistrable Securities, and enable each such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriterseller's underwriters, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account signed counterpart of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.:
Appears in 3 contracts
Samples: Registration Rights Agreement (1818 Fund Lp Brown Brothers Harriman Co Long T Michael Et Al), Registration Rights Agreement (Vaalco Energy Inc /De/), Registration Rights Agreement (Vaalco Energy Inc /De/)
Registration Procedures. (a) If and whenever Whenever, pursuant to Section 2 or 3 hereof, Holders of Restricted Stock have requested that any Restricted Stock be registered, the Company is required shall, subject to the provisions of Section 5 hereof, use commercially reasonable efforts to effect the registration and the sale or distribution of such Restricted Stock in accordance with the intended method of disposition thereof as promptly as practicable, and in connection with any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2such request, the Company shall as promptly as practicable (in each case, to the extent applicable):shall:
(ia) in connection with a request pursuant to Section 2 hereof, prepare and file with the Commission SEC, not later than 45 days after receipt of such a request, a registration statement to effect on any form for which the Company then qualifies and which counsel for the Company shall deem appropriate and which form shall be available for the sale or distribution of such registration, cause such registration statement to become effective at Restricted Stock in accordance with the earliest possible date permitted under the rules and regulations intended method of the Commissiondistribution thereof, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant become effective; provided that if the Company shall furnish to the terms Holders making such a request a certificate signed by either the chief executive officer or the chief financial officer of this Agreementthe Company stating that in the good faith judgment of the Company's board of directors, it would be significantly disadvantageous to the Company for such a registration statement to be filed on or before the date filing would otherwise be required hereunder and explaining the reasons therefor, the Company shall have an additional period of not more than 90 days within which to file such registration statement; providedand, howeverprovided further, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that (i) before filing such a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to the one counsel selected by the holders Holders of Registrable Securities which are to be included in a majority of the shares or other units of Restricted Stock covered by such registration (“Selling Holders”) statement copies of all such documents proposed to be filed, which documents will be subject to the review and comment of such counselcounsel and (ii) after the filing of the registration statement, the Company shall promptly notify each Selling Holder of Restricted Stock of any stop order issued or, to the knowledge of the Company, threatened by the SEC and take all reasonable actions to prevent the entry of such review stop order or to be conducted with reasonable promptnessremove it if entered;
(iib) in connection with a request pursuant to Section 2 hereof, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for a period of not less than 90 days or such shorter period as shall terminate when the distribution of all Restricted Stock covered by such registration statement shall have terminated and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers Selling Holders thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivestatement;
(iiic) as soon as reasonably practicable, furnish to each Selling Holder Holder, prior to filing a registration statement, copies of such registration statement as proposed to be filed and each underwriter, if any, of the securities being sold by thereafter furnish to such Selling Holder such number of conformed copies of such registration statement and of statement, each amendment and supplement thereto (in each case including all exhibits)thereto, such number of copies of the prospectus contained included in such registration statement (including each any preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities Restricted Stock owned by such sellerSelling Holder;
(ivd) use commercially its reasonable efforts to register or qualify such Registrable Securities covered by such registration statement Restricted Stock under such other securities laws or blue sky laws of Canada and of such jurisdictions within the United States and Canada as any Selling Holder and any underwriter reasonably (in light of the securities being sold by such Selling Holder shall reasonably request, Holder's intended plan of distribution) requests and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities Restricted Stock owned by such Selling Holder, except ; provided that the Company shall not for any such purpose be required to (i) qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any jurisdiction or (ii) take any action that would subject itself to taxation in any such jurisdiction;
(ve) use commercially reasonable efforts to cause promptly notify each Selling Holder of such Registrable Securities Restricted Stock, at any time when a prospectus relating thereto is required to be listed on each securities exchange on which similar securities issued by delivered under the Securities Act, of the occurrence of any event known to the Company are then listed andrequiring the preparation of a supplement or amendment to such prospectus so that, if no as thereafter delivered to the purchasers or recipients of such securities are so listedRestricted Stock, use commercially reasonable efforts such prospectus will not contain an untrue statement of a material fact or omit to cause such Registrable Securities state any material fact required to be listed on stated therein or necessary to make the New York Stock Exchange statements therein not misleading and promptly make available to each Selling Holder any such supplement or the Nasdaq Stock Marketamendment;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(viif) in connection with a request pursuant to Section 2 hereof, enter into an Underwritten Offeringunderwriting agreement in customary form, obtain for each Selling Holder the form and underwriter:
(1) an opinion substance of counsel for such underwriting agreement being subject to the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary reasonable satisfaction of the Company or any business acquired by and a majority in interest of the Company from which financial statements and financial data are, or are required to be, included in the registration statement)Selling Holders;
(3g) promptly make available for inspection by any sellerSelling Holder, any underwriter participating in any disposition sale or distribution pursuant to any such registration statement, statement and any attorney, accountant or other agent or representative retained by any such seller Selling Holder or underwriter (collectively, the “"Inspectors”), ") all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “"Records”), ") as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors 's officers and employees to supply all information reasonably requested for such purpose by any such Inspector in connection with such registration statement; providedprovided that the Company shall have no obligation to permit such access to the Records or its officers or employees in a manner that would unreasonably disrupt the normal conduct of its business operations;
(h) in the event such sale is pursuant to an underwritten offering, howeveruse its reasonable efforts to obtain a comfort letter or letters from the Company's independent public accountants in customary form and covering such matters of the type customarily covered by comfort letters as the managing underwriter reasonably requests; and
(i) otherwise use its reasonable efforts to comply with all applicable rules and regulations of the SEC and make available to its security holders, thatas soon as reasonably practicable, unless an earnings statement complying with the disclosure provisions of Section 11(a) of the Securities Act (including, at the option of the Company, pursuant to Rule 158 (or any successor provision) under the Securities Act). Upon receipt of any notice from the Company of the occurrence of any event of the kind described in subsection (e) hereof, such Records is necessary Selling Holder shall forthwith discontinue all offerings, sales and other dispositions of Restricted Stock pursuant to avoid or correct a misstatement or omission in the registration statement covering such Restricted Stock until such Selling Holder's receipt of the copies of the supplemented or amended prospectus contemplated by subsection (e) hereof. In the release of event the Company shall give any such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdictionnotice, the Company shall not extend the period during which such registration statement shall be required maintained effective pursuant to provide any information under this subparagraph Agreement (viiiincluding the period referred to in subsection (b) if (ihereof) by the Company believes, after consultation with counsel for number of days during the Company, that to do so would cause period from and including the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) date of the Company has requested and been granted from the Commission confidential treatment giving of such information contained in any filing with notice pursuant to subsection (b) hereof to and including the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement first date on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing which each Selling Holder and covered by such registration statement shall have received the underwriters, if any, copies of the following events:
supplemented or amended prospectus contemplated by subsection (1e) hereof. Each Selling Holder shall notify the filing Company if any event relating to such Selling Holder occurs which would require the preparation of the registration statement, the prospectus a supplement or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for so that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall will not include contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Alon Israel Oil Company, Ltd.), Registration Rights Agreement (Alon USA Energy, Inc.), Registration Rights Agreement (Alon USA Energy, Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Section 2.1 and, as applicable, 2.2, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare and file with the Commission a registration statement the Registration Statement or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under Securities Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the Commission, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.1); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders Holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(iib) with respect to any registration statement pursuant to Section 2.1, prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of five (5) years after the date of this Agreement (subject to the right of the Company to suspend the effectiveness thereof for not more than 10 consecutive days or an aggregate of 30 days in such five (5) years period) or such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback "Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveMaintenance Period");
(iiic) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder seller and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivd) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder seller thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderseller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (ivd) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(ve) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;
(viif) in connection with an Underwritten Offeringfurnish to each seller of Registrable Securities a signed counterpart, obtain for each Selling Holder addressed to such seller, and underwriterthe underwriters, if any, of:
(1) an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), reasonably satisfactory in opinions requested form and substance to such seller including that the prospectus and any prospectus supplement forming a part of the Registration Statement does not contain an untrue statement of a material fact or omits a material fact required to be stated therein or necessary in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwritersorder to make the statements therein, in light of the circumstances under which they were made, not misleading, and
(2) a “"comfort” " letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “"comfort” " letter specified in Statement on Auditing Standards No. 72, an “"agreed upon procedures” " letter) ), dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, a letter of like kind dated the date of the closing under the underwriting agreement), signed by the independent registered public accountants who have certified the Company’s 's financial statements statement included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, covering substantially the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information same matters with respect to such registration statement (iand the prospectus included therein) or (ii) such holder and, in the case of Registrable Securities requesting such information agreesthe accountants' letter, and causes each of its Inspectors, with respect to enter into a confidentiality agreement on terms reasonably acceptable events subsequent to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure date of such Records is sought financial statements, as are customarily covered in a court opinions of competent jurisdiction, give notice issuer's counsel and in accountants' letters delivered to the Company and allow underwriters in underwritten public offerings of securities (with, in the Companycase of an "agreed upon procedures" letter, at its expensesuch modifications or deletions as may be required under Statement on Auditing Standards No. 35) and, to undertake appropriate action and to prevent disclosure in the case of the Records deemed confidential;
accountants' letter, such other financial matters, and, in the case of the legal opinion, such other legal matters, as such seller (viii) promptly notify in writing each Selling Holder and or the underwriters, if any, of ) may reasonably request;
(g) notify the following eventsSellers' Representative and its counsel promptly and confirm such advice in writing promptly after the Company has knowledge thereof:
(1) when the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment thereto, when the same has become effective;
(2) of any request by the Commission for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3) of the issuance by the Commission of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;; and
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixh) notify each Selling Holderseller of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such seller promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xi) make every reasonable effort use its best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xij) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling its security Holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xiik) cooperate with enter into such agreements and take such other actions as the sellers and Sellers' Representative shall reasonably request in writing (at the managing underwriter expense of the requesting or benefiting seller) in order to expedite or facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness disposition of such registration statement a supply of such certificates as necessary or appropriate;Registrable Securities; and
(xiiil) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list all Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling such registration statement on any securities exchange on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed. The Company may require each Selling Holder and each underwriter, if any, seller of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such seller and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request in writing. The Company will not file any registration statement pursuant to complete Section 2.1, or amend amendment thereto or any prospectus or any supplement thereto (including such documents incorporated by reference and proposed to be filed after the information initial filing of the Registration Statement) to which the Sellers' Representative shall reasonably object, provided that the Company may file such documents in a form required by such registration statement.
(b) Without limiting any law or upon the advice of the foregoing, in the event that the offering its counsel. The Company represents and warrants to each holder of Registrable Securities is that it has obtained all necessary waivers, consents and authorizations necessary to be made execute this Agreement and consummate the transactions contemplated hereby other than such waivers, consents and/or authorizations specifically contemplated by or through an underwriterthe Securities Purchase Agreement. The Fund agrees that, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening occurrence of any event of the kind described in subdivision (h) of this Section 3.6(a)(ix)2.3, such Selling Holder shall the Fund will forthwith discontinue such Selling Holder’s the Fund's disposition of Registrable Securities pursuant to the applicable registration statement and prospectus Registration Statement relating thereto to such Registrable Securities until such Selling Holder’s Fund's receipt of the copies of the supplemented or amended prospectus contemplated by subdivision (h) of this Section 3.6(a)(ix) 2.3 and, if so directed by the Company, will deliver to the Company, Company (at the Company’s 's expense, ) all copies, other than permanent file copies, then in such Selling Holder’s the Fund's possession of the prospectus relating to such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (ERF Wireless, Inc.), Registration Rights Agreement (ERF Wireless, Inc.), Registration Rights Agreement (Galaxy Minerals Inc)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable its best efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Section 6.1 or 6.2 hereof, the Company shall will, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and Prepare and, in any event within sixty (60) calendar days after the end of the period within which requests for registration may be given to the Company (or within ninety (90) days after the end of such period if such period ends during the first month or the last month of the Company’s fiscal year), file with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules Registrable Securities and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant to effective; provided that, in the terms case of this Agreement; provideda registration provided for in Section 6.1 or 6.2 hereof, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) Requesting Holders copies of all such documents proposed to be filed, which documents will be subject to the timely and reasonable review of such counsel; and provided, and such review further, that the Company may discontinue any registration of its securities that is being effected pursuant to be conducted with reasonable promptness;Section 6.2 at any time prior to the effective date of the registration statement relating thereto.
(ii) prepare Prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for a period as may be requested by the Requesting Holders not exceeding nine (9) months and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;statement.
(iii) furnish Furnish to each Selling Holder holder of Registrable Securities covered by the registration statement and to each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), Registrable Securities such number of copies of the a prospectus contained in such registration statement (including each and preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, for delivery in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, Person may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;Securities.
(iv) use commercially reasonable Use its best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderseller in such jurisdictions, except that the Company shall not for any such purpose be required (A) to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not where, but for the requirements of this clause (iv) be obligated to be Section 6.3(a)(iv), it is not then so qualified, or (B) to subject itself to taxation in any such jurisdiction jurisdiction, or (C) to file a take any action which would subject it to general consent to or unlimited service of process in any such jurisdiction;jurisdiction where it is not then so subject.
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable Use its best efforts to cause such Registrable Securities covered by such registration statement to be registered or qualified with or approved by such other governmental agencies or authorities (including, without limitation, state securities commissions) as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;, subject, however, to the limitations set forth in clauses (A), (B) and (C) of Section 6.3(a)(iv) hereof.
(viivi) in connection with an Underwritten Offering, obtain for Immediately notify each Selling Holder and underwriter:
(1) an opinion seller of counsel for the Company, covering the matters customarily Registrable Securities covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities ActAct within the appropriate period mentioned in Section 6.3(a)(ii), upon discovery that, or upon if the happening of any event as a result of which, Company becomes aware that the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, misleading in light of the circumstances then existing; use its best efforts to prepare and file an appropriate amendment or supplement to such prospectus and to cause such amendment or supplement to become effective; and, at the request of any Selling Holdersuch seller, promptly prepare and furnish to such seller deliver a reasonable number of copies of a supplement to an amended or an amendment of such supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;misleading in the light of the circumstances then existing.
(xvii) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise Otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under make generally available to its security holders, in each case as soon as practicable, but not later than ninety (90) calendar days after the rules and regulations close of the Exchange period covered thereby (one hundred eighty (180) calendar days in case the period covered corresponds to a fiscal year of the Company), an earnings statement of the Company which will satisfy the provisions of Section 11(a) of the Securities Act. The Company may require each Selling Holder and each underwriter.
(viii) Use its best efforts in cooperation with the underwriters, if any, to furnish list such Registrable Securities on each securities exchange as they may reasonably designate, which securities exchanges shall be acceptable to the Company.
(ix) In the event the offering is an Underwritten Offering, use its best efforts to obtain a “cold comfort” letter from the independent public accountants for the Company in writing customary form and covering such information regarding each Selling Holder or underwriter and matters of the distribution type customarily covered by such letters as the Requesting Holders reasonably request in order to effect an Underwritten Offering of such Registrable Securities Securities.
(x) Execute and deliver all instruments and documents (including in an Underwritten Offering an underwriting agreement in customary form) and take such other actions and obtain such certificates and opinions as the Company may from time to time Requesting Holders reasonably request in order to complete or amend the information required by effect an underwritten public offering of such registration statementRegistrable Securities.
(b) Without limiting any of the foregoing, in the event that the offering Each holder of Registrable Securities is to be made by or through an underwriterwill, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix6.3(a)(vi), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of the Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holderholder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix6.3(a)(vi).
(c) andIf a registration pursuant to Section 6.1 or 6.2 hereof involves an Underwritten Offering, each holder of Registrable Securities agrees, whether or not such holder’s Registrable Securities are included in such registration, not to effect any public sale or distribution, including any sale pursuant to Rule 144 under the Securities Act, of any Registrable Securities or of any security convertible into or exchangeable or exercisable for any Registrable Securities (other than as part of such Underwritten Offering), without the consent of the managing underwriter, during a period commencing seven (7) days before and ending one hundred eighty (180) days (or such lesser number as the managing underwriter shall designate) after the effective date of such registration.
(d) If a registration pursuant to Section 6.1 or 6.2 involves an Underwritten Offering, the Company agrees, if so directed required by the Companymanaging underwriter, deliver not to effect any public sale or distribution of any of its equity or debt securities, as the case may be, or securities convertible into or exchangeable or exercisable for any of such equity or debt securities, as the case may be, during a period commencing seven (7) days before and ending one hundred eighty (180) (or such lesser number as the managing underwriter shall designate) days after the effective date of such registration, except for such Underwritten Offering or except in connection with a stock option plan, stock purchase plan, savings or similar plan, or an acquisition, merger or exchange offer.
(e) If a registration pursuant to Section 6.1 or 6.2 involves an Underwritten Offering, any holder of Registrable Securities requesting to be included in such registration may elect, in writing, prior to the Companyeffective date of the registration statement filed in connection with such registration, at not to register such securities in connection with such registration, unless such holder has agreed with the Company’s expenseCompany or the managing underwriter to limit its right under this Section 6.3.
(f) In any registration pursuant to Section 6.1 or 6.2, all copies, other than permanent file copies, then each holder of Registrable Securities requesting to be included in such Selling Holder’s possession registration shall furnish to the Company all such information as the Company may reasonably request from such holder concerning such holder and its intended method of distribution of Registrable Securities to enable the Company to include such information in the registration statement.
(g) It is understood that in any Underwritten Offering in addition to any shares of stock (the “initial shares”) the underwriters have committed to purchase, the underwriting agreement may grant the underwriters an option to purchase up to a number of additional shares of stock (the “option shares”) equal to fifteen percent (15%) of the prospectus current at initial shares (or such other maximum amount as the time National Association of receipt Securities Dealers, Inc. may then permit), solely to cover over-allotments. Shares of stock proposed to be sold by the Company and the other sellers shall be allocated between initial shares and option shares as agreed or, in the absence of agreement, on a pro rata basis among all such notice relating holders on the basis of the relative number of shares of Registrable Securities each such holder has requested to be included in such Registrable Securities. In registration.
(h) Notwithstanding anything to the event contrary herein, the Company shall give not be required to include any Registrable Securities of any holder in the event that the Company shall obtain an opinion of its counsel that all such notice, any applicable 60-day period during which such requested Registrable Securities may then be sold without registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event under Rule 144 or other provision of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the CommissionSecurities Act.
Appears in 3 contracts
Samples: Stockholders’ Agreement (Accretive Health, Inc.), Stockholders’ Agreement (Accretive Health, Inc.), Stockholders’ Agreement (Accretive Health, Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities 1933 Act as provided in Sections 3.1 and 3.2Section 2.2 and, as applicable, 2.3, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a registration statement SEC the Registration Statement, or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under 1933 Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the SEC, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.2); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any registration statement pursuant to Section 2.2 or Section 2.3, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities 1933 Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of thirty six (36) months after the date of this Agreement (subject to the right of the Company to suspend the effectiveness thereof for not more than 15 consecutive Trading Days or an aggregate of 20 Trading Days during each year (each a “Black-Out Period”)) or such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or “Registration Maintenance Period”). The Company must notify the Investor within twenty four (ii24) in the case of a Piggyback Registration pursuant hours prior to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveany Black-Out Period;
(iii) furnish to each Selling Holder and each underwriter, if any, holder of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities 1933 Act, in conformity with the requirements of the Securities 1933 Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder holder of Registrable Securities and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerholder of Registrable Securities;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other U.S. federal or state securities laws or U.S. state blue sky laws of such jurisdictions as any Selling Holder and any underwriter U.S. holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder of Registrable Securities to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderholder of Registrable Securities, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) U.S. holder of Registrable Securities thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offeringfurnish to each holder of Registrable Securities a signed counterpart, obtain for each Selling Holder addressed to such holder of Registrable Securities, and underwriter:
(1) the underwriters, if any, of an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), such opinion to be in opinions requested in underwritten offerings and such other matters the form filed as may be reasonably requested by such Selling Holder and underwritersExhibit 5 to the registration statement, and
(2vii) a “comfort” letter (or, notify the Investor and its counsel promptly and confirm such advice in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) writing promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following eventsknowledge thereof:
(1a) when the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment thereto, when the same has become effective;
(2b) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3c) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5d) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling Holderholder of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities 1933 Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such holder of Registrable Securities promptly prepare and furnish to such seller holder of Registrable Securities a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xix) make every use its commercially reasonable effort best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities 1933 Act and Rule 158 thereunder;
(xi) enter into such agreements and take such other actions as the Investor shall reasonably request in writing (at the expense of the requesting or benefiting Investor) in order to expedite or facilitate the disposition of such Registrable Securities; and
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list all Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling such registration statement on any securities exchange on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed. The Company may require each Selling Holder and each underwriter, if any, holder of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such holder of Registrable Securities and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend in writing, including
(a) furnish the information required as to any shares of Common Stock or other securities of the Company owned by the holder, the holder’s proposed plan of distribution, any relationship between the holder and the Company and any other information which the Company reasonably requests in connection with the preparation of the registration statement and update such registration statement.information immediately upon the occurrence of any events or condition which make the information concerning the Seller inaccurate in any material respect;
(b) Without limiting not sell any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement except in the manner set forth in the Registration Statement;
(c) comply with the prospectus delivery requirements and prospectus relating thereto until such Selling Holder’s receipt the provisions of Regulation M of the copies of SEC pursuant to the supplemented 1933 Act to the extent that such regulation is applicable to the holder;
(d) not sell or amended prospectus contemplated by Section 3.6(a)(ix) and, otherwise transfer or distribute any Registrable Securities if so directed by the holder possesses any material nonpublic information concerning the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Lounsberry Holdings I Inc), Registration Rights Agreement (Tricell Inc), Registration Rights Agreement (Science Dynamics Corp)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities 1933 Act as provided in Sections 3.1 and 3.2Section 2.2 and, as applicable, 2.3, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a registration statement SEC the Registration Statement, or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under 1933 Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the SEC, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.2); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any Initial or Subsequent Registration Statement, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement Registration Statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities 1933 Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of thirty six (36) months after the date of this Agreement (subject to the right of the Company to suspend the effectiveness thereof for an Excusable Reason (each a “Black-Out Period”)) or such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or “Registration Maintenance Period”). The Company shall notify the Investors within twenty four (ii24) in the case of a Piggyback Registration pursuant hours prior to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveany Black-Out Period;
(iii) furnish to each Selling Holder and each underwriter, if any, holder of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities 1933 Act, in conformity with the requirements of the Securities 1933 Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder holder of Registrable Securities and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerholder of Registrable Securities;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other U.S. federal or state securities laws or U.S. state blue sky laws of such jurisdictions as any Selling Holder and any underwriter U.S. holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder of Registrable Securities to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderholder of Registrable Securities, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) U.S. holder of Registrable Securities thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offeringfurnish to each holder of Registrable Securities who requests, obtain for each Selling Holder a signed counterpart, addressed to such holder of Registrable Securities, and underwriter:
(1) the underwriters, if any, of an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), such opinion to be in opinions requested in underwritten offerings and such other matters the form filed as may be reasonably requested by such Selling Holder and underwritersExhibit 5 to the registration statement, and
(2vii) a “comfort” letter (or, notify the Investors and their counsel promptly and confirm such advice in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) writing promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following eventsknowledge thereof:
(1a) when the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment thereto, when the same has become effective;
(2b) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3c) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5d) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling Holderholder of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities 1933 Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such holder of Registrable Securities promptly prepare and furnish to such seller holder of Registrable Securities a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xix) make every use its commercially reasonable effort best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities 1933 Act and Rule 158 thereunder;
(xi) enter into such agreements and take such other actions as the Investors shall reasonably request in writing (at the expense of the requesting or benefiting Investors) in order to expedite or facilitate the disposition of such Registrable Securities; and
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list all Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling such registration statement on any securities exchange on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed. The Company may require each Selling Holder and each underwriter, if any, holder of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such holder of Registrable Securities and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend in writing. In this connection, the Investors shall
(a) furnish the information required as to any shares of Common Stock or other securities of the Company owned by the holder, the holder’s proposed plan of distribution, any relationship between the holder and the Company and any other information which the Company reasonably requests in connection with the preparation of the registration statement and update such registration statement.information immediately upon the occurrence of any events or condition which make the information concerning the Seller inaccurate in any material respect;
(b) Without limiting not sell any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement except in the manner set forth in the Registration Statement;
(c) comply with the prospectus delivery requirements and prospectus relating thereto until such Selling Holder’s receipt the provisions of Regulation M of the copies of SEC pursuant to the supplemented 1933 Act to the extent that such regulation is applicable to the holder;
(d) not sell or amended prospectus contemplated by Section 3.6(a)(ix) and, otherwise transfer or distribute any Registrable Securities if so directed by the holder possesses any material nonpublic information concerning the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Lincoln International Corp), Registration Rights Agreement (China Education Alliance Inc.), Registration Rights Agreement (Malex Inc)
Registration Procedures. In the case of each registration effected by the Corporation pursuant to this Section 2, the Corporation will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. At its expense the Corporation will:
(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare Prepare and file with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules securities and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant to for at least two (2) years or, if earlier, until the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of distribution described in the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnesshas been completed;
(iib) prepare Prepare and file with the Commission during the period specified in Section 2.4(a) such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein with such registration statement as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until statement;
(c) Furnish to the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth Holders participating in such registration statement or (i) in and to the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, underwriters of the securities being sold by registered such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such reasonable number of copies of the registration statement, preliminary prospectus, final prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as the Holders and such Selling Holder and underwriter, if any, underwriters may reasonably request in order to facilitate the public sale or other disposition offering of the Registrable Securities owned by such sellersecurities;
(ivd) use commercially reasonable efforts to register or qualify such Furnish, at the request of any Holder requesting registration of Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of at the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no time such securities are so listed, use commercially reasonable efforts delivered to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
underwriters (viif any) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) for sale in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statementthis Section 2, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) an opinion, dated such date, of the Company believes, after consultation with counsel representing the Corporation for the Companypurposes of such registration, that in form and substance as is customarily given to do so would cause underwriters in an underwritten public offering, addressed to the Company underwriters and to forfeit an attorney-client privilege that was applicable to such information or the Holders requesting registration of Registrable Securities and (ii) if either (A) a letter dated the Company has requested date of commencement of the offering and been granted a "bring-down" letter dated as of the closing date of such offering, from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure independent accountants of the Records deemed confidential;
(viii) promptly notify Corporation, in writing each Selling Holder form and substance as is customarily given by independent accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment and to the Holders requesting registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Bioject Medical Technologies Inc), Registration Rights Agreement (Bioject Medical Technologies Inc), Registration Rights Agreement (Bioject Medical Technologies Inc)
Registration Procedures. The Company will use its best efforts to effect each Registration, and to cooperate with the sale of such Registrable Securities in accordance with the intended method of disposition thereof as quickly as practicable, and the Company will as expeditiously as possible:
(a) If and whenever subject, in the Company is required to use commercially reasonable efforts to effect the registration case of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each casean Incidental Registration, to the extent applicable):
(i) proviso to Section , prepare and file with the Commission a SEC the registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement the Registration to remain effective pursuant to the terms of this Agreementbecome effective; providedPROVIDED, howeverHOWEVER, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such any registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to the counsel selected by Holders of the holders of Registrable Securities which are to be included in covered by such registration (“Selling Holders”) statement, their counsel, and the underwriters, if any, and their counsel, copies of all such documents proposed to be filedfiled as promptly as practicable prior thereto, which documents will be subject to the reasonable review of such counselHolders, their counsel and the underwriters; and the Company will not file any registration statement or amendment thereto or any prospectus or any supplement thereto (including such documents incorporated by reference) to which the Requisite Holders shall reasonably object after having had a reasonable opportunity for review to be conducted with reasonable promptnessand comment;
(iib) subject, in the case of an Incidental Registration, to the proviso to Section , prepare and file with the Commission SEC such amendments (including and post-effective amendments) and supplements amendments to such any registration statement and the any prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until statement; and cause the earlier of such time prospectus to be supplemented by any required prospectus supplement, and as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration so supplemented to be filed pursuant to Section 3.1, Rule 424 under the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveSecurities Act;
(iiic) furnish to each Selling Holder of Registrable Securities included in such Registration and each underwriterthe underwriter or underwriters, if any, without charge, at least one signed copy of the securities being sold by such Selling Holder registration statement and any post-effective amendment thereto, upon request, and such number of conformed copies of such registration statement thereof and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other each prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, any amendments or supplements thereto and any Issuer Free Writing Prospectus and such other documents incorporated by reference therein, as such Selling Holder and underwriter, if any, or underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned being sold by such seller;
Holder (iv) it being understood that the Company consents to the use commercially reasonable efforts to register of the prospectus and any amendment or qualify such supplement thereto by each Holder of Registrable Securities covered by such registration statement under such other securities laws and the underwriter or blue sky laws of such jurisdictions as any Selling Holder underwriters, if any, in connection with the offering and any underwriter sale of the securities being sold Registrable Securities covered by such Selling the prospectus or any amendment or supplement thereto);
(d) notify each Holder shall reasonably requestof any stop order or other order suspending the effectiveness of any registration statement, issued or threatened by the SEC in connection therewith, and take all reasonable actions required to prevent the entry of such stop order or to remove it or obtain withdrawal of it at the earliest possible moment if entered;
(e) if requested by the managing underwriter or underwriters, if any, or any Holder in connection with any sale pursuant to a registration statement, promptly incorporate in a prospectus supplement or post-effective amendment such information relating to such underwriting as the managing underwriter or underwriters, if any, or such Holder reasonably requests to be included therein; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or post-effective amendment;
(f) on or prior to the date on which a Registration is declared effective, use its best efforts to register or qualify, and cooperate with the Holders of Registrable Securities included in such Registration, the underwriter or underwriters, if any, and their counsel, in connection with the registration or qualification of the Registrable Securities covered by such Registration for offer and sale under the securities or "blue sky" laws of each state and other action which may jurisdiction of the United States as any such Holder or the managing underwriter, if any, reasonably requests in writing; use its best efforts to keep each such registration or qualification effective, including through new filings, or amendments or renewals, during the period such registration statement is required to be reasonably kept effective; and do any and all other acts or things necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in all such jurisdictions reasonably requested of the Registrable Securities owned covered by such Selling HolderRegistration; PROVIDED, except HOWEVER, that the Company shall will not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would is not but for the requirements of this clause (iv) be obligated to be then so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a take any action which would subject it to general consent to service of process in any such jurisdictionjurisdiction where it is not then so subject;
(vg) in connection with any sale pursuant to a Registration, cooperate with the Holders and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing Securities to be sold under such Registration, and enable such Securities to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or such Holders may request;
(h) use commercially reasonable its best efforts to cause such the Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities within the United States and having jurisdiction over the Company as may reasonably be necessary to enable the Selling Holder(s) seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition of such Securities;
(i) enter into such agreements (including underwriting agreements in customary form) and take such other actions as the Requisite Holders shall reasonably request in order to expedite or facilitate the disposition of such Registrable Securities;
(viij) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriteruse its best efforts to obtain:
(1i) an opinion at the time of counsel for effectiveness of each Registration, a comfort letter from the Company, 's independent certified public accountants covering such matters of the matters type customarily covered in opinions requested in underwritten offerings and such other matters by cold comfort letters as may be the Requisite Holders and, if applicable, the underwriters reasonably requested by such Selling Holder and underwriters, request; and
(2ii) a “comfort” letter (or, in at the case time of any underwritten sale pursuant to the registration statement, a bring-down comfort letter, dated as of the date of such Person which does not satisfy sale, from the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the Company's independent registered certified public accountants who have certified covering such matters of the Company’s financial statements included in such registration statement (type customarily covered by comfort letters as the Requisite Holders and, if necessaryapplicable, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement)underwriters reasonably request;
(3k) promptly make available for inspection by use its best efforts to obtain, at the time of effectiveness of each Incidental Registration and at the time of any seller, any underwriter participating in any disposition sale pursuant to any registration statementeach Registration, and any attorneyan opinion or opinions, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; Requisite Holders in form and providedscope, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to from counsel for the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidentialin customary form;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixl) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, Holder upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statementRegistration, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, andand promptly prepare, at file with the request of any Selling Holder, promptly prepare SEC and furnish to such seller each Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers or prospective purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances under which they are made;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xim) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the CommissionSEC, and make generally available to Selling Holders, its Security holders (as promptly as practicable, contemplated by section 11(a) under the Securities Act) an earnings statement covering satisfying the period provisions of at least 12 monthsRule 158 under the Securities Act, but as applicable;
(n) provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by each Registration from and after a date not more later than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRARegistration; and
(xvio) otherwise use commercially reasonable efforts to comply with all applicable rules obtain and regulations maintain the registration of the Commission and all reporting requirements Common Stock under the rules and regulations either section 12(b) or section 12(g) of the Exchange Act; and use its best efforts to cause all Registrable Securities covered by each Registration to be listed subject to notice of issuance, prior to the date of first sale of such Registrable Securities pursuant to such Registration, on:
(i) either the New York Stock Exchange, Inc., or the NASDAQ National Market; and
(ii) each other securities exchange, if any, on which the Common Stock is then listed. The Company may require each Selling Holder and each underwriter, if any, of Registrable Securities that will be included in such Registration to furnish the Company in writing with such information regarding each Selling Holder or underwriter and the distribution in respect of such Holder of its Registrable Securities that will be included in such Registration as the Company may from time to time reasonably request to complete or amend the information in writing and as is required by such registration statementapplicable laws or regulations.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Advantica Restaurant Group Inc), Registration Rights Agreement (Flagstar Companies Inc), Registration Rights Agreement (Flagstar Companies Inc)
Registration Procedures. (a) If and whenever the Company is ----------------------- required by the provisions of this Agreement to use all commercially reasonable efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Agreement, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare and file with the Commission SEC a registration statement to effect on an appropriate registration form of the SEC for the disposition of such Registrable Securities in accordance with the intended method of disposition thereof, which form (i) shall be selected by the Company and (ii) shall, in the case of a shelf registration, cause be available for the sale of the Registrable Securities by the selling Stockholders thereof and such registration statement shall comply as to become effective at form in all material respects with the earliest possible date permitted under the rules and regulations requirements of the Commissionapplicable form and include all financial statements required by the SEC to be filed therewith, and thereafter the Company shall use all commercially reasonable efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreementeffective; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such a registration statement or prospectus or any amendments or supplements thereto, or comparable statements under securities or "blue sky" laws of any jurisdiction, the Company will furnish furnish, if requested, to one counsel for the counsel Stockholders participating in the planned offering (selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”Major Stockholder) and the underwriters, if any, copies of all such documents proposed to be filedfiled (including all exhibits thereto), which documents will be subject to the reasonable review and reasonable comment of such counsel, and the Company shall not file any registration statement or amendment thereto or any prospectus or supplement thereto to which the Stockholders of a majority of the Registrable Securities covered by such review to be conducted with reasonable promptnessregistration statement or the underwriters, if any, shall reasonably object in writing;
(iib) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for such period (which shall not be required to exceed 150 days in the case of a registration pursuant to Section 2.1 or 120 days in the case of a registration pursuant to Section 2.2) as any seller of Registrable Securities pursuant to such registration statement shall request and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all securities Registrable Securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivestatement;
(iiic) furnish furnish, without charge, to each Selling Holder seller of such Registrable Securities and each underwriter, if any, of the securities being sold covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of statement, each amendment and supplement thereto (in each case including all exhibits), such number of copies of and the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder seller and underwriter, if any, underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerseller (the Company hereby consenting to the use in accordance with all applicable law of each such registration statement (or amendment or post-effective amendment thereto) and each such prospectus (or preliminary prospectus or supplement thereto) by each such seller of Registrable Securities and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such registration statement or prospectus);
(ivd) use all commercially reasonable efforts to register or qualify such the Registrable Securities covered by such registration statement under such other securities laws or "blue sky sky" laws of such jurisdictions as any Selling Holder and sellers of Registrable Securities or any underwriter of the securities being sold by such Selling Holder managing underwriter, if any, shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter sellers or underwriter, if any, to consummate the disposition in such jurisdictions of the Registrable Securities owned by in such Selling Holderjurisdictions, except that in no event shall the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not not, but for the requirements of this clause paragraph (iv) d), be obligated required to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to general service of process in any such jurisdiction;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on promptly notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Stockholder selling Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for and each Selling Holder and managing underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1i) the filing of when the registration statement, any pre-effective amendment, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement has been filed and, with respect to the registration statement or any post-effective amendment theretoamendment, when the same has become effective;
; (2ii) of any request by the Commission SEC or state securities authority for amendments or supplements to the registration statement or the prospectus related thereto or for additional information;
; (3iii) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
; (4iv) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or "blue sky sky" laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
; (ixv) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under of the Securities Act, upon discovery that, or upon the happening existence of any event as a result fact of whichwhich the Company becomes aware which results in the registration statement, the prospectus included in such registration statement, as then in effect, includes related thereto or any document incorporated therein by reference containing an untrue statement of a material fact or omits omitting to state any a material fact required to be stated therein or necessary to make the statements any statement therein not misleading; and (vi) if at any time the representations and warranties contemplated by any underwriting agreement, andsecurities sale agreement, at or other similar agreement, relating to the request of any Selling Holderoffering shall cease to be true and correct in all material respects, and if the notification relates to an event described in clause (v), the Company shall promptly prepare and furnish to each such seller and each underwriter, if any, a reasonable number of copies of a supplement to prospectus supplemented or an amendment of such prospectus as may be necessary amended so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein in the light of the circumstances under which they were made not misleading;
(xf) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the CommissionSEC, and make generally available to Selling Holdersits security holders, as promptly soon as practicablereasonably practicable after the effective date of the registration statement (and in any event within 16 months thereafter), an earnings statement (which need not be audited) covering the period of at least 12 months, but not more than 18 months, twelve consecutive months beginning with the first day of the Company’s 's first full calendar quarter after the effective date of such the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xiih) provide and cause to be maintained a transfer agent and registrar for all such Registrable Securities covered by such registration statement not later than the effective date of such registration statement;
(i) enter into such customary agreements (including, if applicable, an underwriting agreement) and take such other actions as the Stockholders of a majority of the Registrable Securities or the Major Stockholder participating in such offering shall reasonably request in order to expedite or facilitate the disposition of such Registrable Securities, provided that the underwriting agreement, if any, shall be reasonably satisfactory in form and substance to the Company. The Stockholders of the Registrable Securities which are to be distributed by such underwriters shall be parties to such underwriting agreement and may, at their option, require that the Company make to and for the benefit of such Stockholders the representations, warranties and covenants of the Company which are being made to and for the benefit of such underwriters and which are of the type customarily provided to institutional investors in secondary offerings; provided, however, that the Company shall not be required to make any representations or warranties with respect to written information specifically provided by a Selling Stockholder for inclusion in the registration documents;
(j) use all commercially reasonable efforts to obtain an opinion from the Company's counsel and a "cold comfort" letter from the Company's independent public accountants in customary form and covering such matters as are customarily covered by such opinions and "cold comfort" letters delivered to underwriters in underwritten public offerings, which opinion and letter shall be reasonably satisfactory to the underwriter, if any, any Initiating Stockholder in the case of a Demand Registration, or to the Major Stockholder participating in any other offering, and furnish to each Stockholder participating in the offering and to each underwriter, if any, a copy of such opinion and letter addressed to such Stockholder or underwriter;
(k) deliver promptly to counsel for the selling Stockholders participating in the offering and each underwriter, if any, copies of all correspondence between the SEC and the Company, its counsel or auditors and all memoranda relating to discussions with the SEC or its staff with respect to the registration statement, other than those portions of any such correspondence or memoranda which contain information subject to attorney-client privilege with respect to the Company, and, upon receipt of such confidentiality agreements as the Company may reasonably request, make reasonably available for inspection by any seller of such Registrable Securities covered by such registration statement, by any underwriter, if any, participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by any such seller or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company's officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement;
(l) use all commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of the registration statement;
(m) provide a CUSIP number for all Registrable Securities, not later than the effective date of the registration statement;
(n) make reasonably available its employees and personnel and otherwise provide reasonable assistance to the underwriters (taking into account the needs of the Company's businesses and the requirements of the marketing process) in the marketing of Registrable Securities in any underwritten offering;
(o) promptly prior to the filing of any document which is to be incorporated by reference into the registration statement or the prospectus (after the initial filing of such registration statement) provide copies of such document to counsel for the selling Stockholders of Registrable Securities and to each managing underwriter, if any, and make the Company's representatives reasonably available for discussion of such document and make such changes in such document concerning the selling Stockholders prior to the filing thereof as counsel for such selling Stockholders or underwriters may reasonably request;
(p) furnish to counsel for the selling Stockholders participating in the offering and the managing underwriter, without charge, at least one signed copy of the registration statement and any post-effective amendments thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits (including those incorporated by reference);
(q) cooperate with the sellers selling Stockholders of Registrable Securities and the managing underwriter underwriter, if any, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statementthe Registrable Securities to be sold, and enable cause such securities Registrable Securities to be issued in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations underwriting agreement prior to any sale of Registrable Securities to the underwriters or, if not an underwritten offering, in accordance with the instructions of the FINRAselling Stockholders of Registrable Securities at least three business days prior to any sale of Registrable Securities and instruct any transfer agent and registrar of Registrable Securities to release any stop transfer orders in respect thereof; and
(xvir) otherwise use take all such other commercially reasonable efforts actions as are necessary or advisable in order to comply with all applicable rules and regulations expedite or facilitate the disposition of the Commission and all reporting requirements under the rules and regulations of the Exchange Actsuch Registrable Securities. The Company may require as a condition precedent to the Company's obligations under this Section 2.4 that each Selling Holder and each underwriter, if any, seller of Registrable Securities as to which any registration is being effected furnish the Company in writing such information regarding each Selling Holder or underwriter such seller and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend the request, provided that such information required by shall be used only in connection with such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering registration. Each Stockholder of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in clause (v) of paragraph (e) of this Section 3.6(a)(ix)2.4, such Selling Holder shall forthwith Stockholder will discontinue such Selling Holder’s Stockholder's disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holder’s Stockholder's receipt of the copies of the supplemented or amended prospectus contemplated by paragraph (e) of this Section 3.6(a)(ix) 2.4 and, if so directed by the Company, will deliver to the Company, Company (at the Company’s 's expense, ) all copies, other than permanent file copies, then in such Selling Holder’s Stockholder's possession of the prospectus current covering such Registrable Securities that was in effect at the time of receipt of such notice relating to such Registrable Securitiesnotice. In the event the Company shall give any such notice, any the applicable 60-day period during which such registration statement must remain effective pursuant to mentioned in paragraph (b) of this Agreement Section 2.4 shall be extended by the number of days during the such period from and including the date of the giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to and including the date when all each seller of any Registrable Securities covered by such Selling Holders registration statement shall receive such a have received the copies of the supplemented or amended prospectus and contemplated by paragraph (e) of this Section 2.4. If any such prospectus registration statement or comparable statement under "blue sky" laws refers to any Stockholder by name or otherwise as the Stockholder of any securities of the Company, then such Stockholder shall have been filed with the Commissionright to require (i) the insertion therein of language, in form and substance satisfactory to such Stockholder and the Company, to the effect that the holding by such Stockholder of such securities is not to be construed as a recommendation by such Stockholder of the investment quality of the Company's securities covered thereby and that such holding does not imply that such Stockholder will assist in meeting any future financial requirements of the Company, or (ii) in the event that such reference to such Stockholder by name or otherwise is not in the judgment of the Company, as advised by counsel, required by the Securities Act or any similar federal statute or any state "blue sky" or securities law then in force, the deletion of the reference to such Stockholder.
Appears in 3 contracts
Samples: Registration Rights Agreement (MCG Capital Corp), Registration Rights Agreement (MCG Capital Corp), Registration Rights Agreement (MCG Capital Corp)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts by the provisions of this Agreement to effect the a registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Securities:
(a) The Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission SEC, within the time periods specified herein, a Registration Statement on Form S-3 or its equivalent (or on such other registration statement form available to effect such registrationthe Company that permits the greatest extent of incorporation by reference of materials filed by the Company, under the Exchange Act), and will use its best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules as promptly as practicable (and, in any event, within sixty days) thereafter and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective under the Securities Act until (1) the earlier of such time as all securities covered thereby have been disposed of pursuant to such Registration Statement or 180 days after such Registration Statement becomes effective, in the terms case of this Agreement; providedregistrations pursuant to Section 2, howeveror (2) 90 days after such Registration Statement becomes effective, that in the Company case of registrations pursuant to Section 3, in every case as any such period may discontinue any registration of its securities which are not Registrable Securities at any time prior be extended pursuant to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement subsection (h) or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;Section 8.
(iib) The Company shall prepare and file with the Commission SEC such amendments (including amendments, post-effective amendments) amendments and supplements to such registration statement Registration Statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement Registration Statement effective and for such period of time required by subsection (a), as such period may be extended pursuant to subsection (h) or Section 8.
(c) The Company shall comply in all material respects with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until Registration Statement during the earlier of period during which any such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant Statement is required to Section 3.1, the expiration of 60 days after such registration statement becomes be effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;.
(iiid) The Company shall furnish to each Selling any Holder and each underwriter, if any, any underwriter of the securities being sold by such Selling Holder Registrable Securities (1) such number of copies (including manually executed and conformed copies copies) of such registration statement Registration Statement and of each amendment thereof and supplement thereto (in each case including all annexes, appendices, schedules and exhibits), (2) such number of copies of the prospectus contained used in connection with such registration statement Registration Statement (including each preliminary prospectus, any summary prospectus and any summary prospectusthe final prospectus and including prospectus supplements), and (3) and any such number of copies of other prospectus filed under Rule 424 under the Securities Actdocuments, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents each case as such Selling Holder and underwriter, if any, or such underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;request.
(ive) The Company shall use commercially reasonable its best efforts to register or qualify such all Registrable Securities covered by such registration statement Registration Statement under such other the securities laws or "blue sky sky" laws of such jurisdictions states of the United States as any Selling Holder and or any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary requested by such Holder or advisable to enable such Selling Holder and underwriter to consummate the offering and disposition of Registrable Securities in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that jurisdictions; but the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation or as a dealer in securities, subject itself to taxation, or consent to general service of process in any jurisdiction wherein it would is not but for the requirements of this clause (iv) be obligated to be then so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to service of process in any such jurisdiction;subject.
(vf) The Company shall use commercially reasonable its best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement Registration Statement to be registered with with, or approved by by, such other United States public, governmental agencies or authorities regulatory authorities, if any, as may be necessary to enable the Selling Holder(s) thereof to consummate required in connection with the disposition of such Registrable Securities;.
(viig) The Company shall list the Registrable Securities covered by such Registration Statement on any securities exchange (or if applicable, the Nasdaq National Market System) on which any securities of the Company are then listed.
(h) The Company shall notify each Holder as promptly as practicable and, if requested by any Holder, confirm such notification in connection with an Underwritten Offeringwriting, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) when a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related theretohas been filed with the SEC, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement and when a Registration Statement or any post-effective amendment theretothereto has been filed with and declared effective by the SEC, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) of the issuance by the Commission SEC of any stop order suspending or the effectiveness coming to its knowledge of the registration statement or the initiation of any proceedings by any Person for that purpose;
, (43) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
, (ix4) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under of the Securities Act, upon discovery that, or upon the happening occurrence of any event as which requires the making of any changes to a result of which, the Registration Statement or related prospectus included in so that such registration statement, as then in effect, includes an documents will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading, and, at misleading (and the request of any Selling Holder, Company shall promptly prepare and furnish to such seller each Holder a reasonable number of copies of a supplement to supplemented or an amendment of amended prospectus such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they are made, not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission), and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day (5) of the Company’s first full quarter after 's determination that the effective date filing of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to a Registration Statement shall be necessary or appropriate. Upon the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening occurrence of any event of the kind described in Section 3.6(a)(ixclause (4), such Selling Holder the Holders shall forthwith discontinue such Selling Holder’s any offer and disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto Registration Statement covering such Registrable Securities until such Selling Holder’s receipt of the all Holders shall have received copies of the a supplemented or amended prospectus contemplated by Section 3.6(a)(ix) which is no longer defective and, if so directed by the Company, shall deliver to the Company, at the Company’s expense, Company all copies, copies (other than permanent file copies, ) of the defective prospectus covering such Registrable Securities which are then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable SecuritiesHolders' possession. In the event If the Company shall give such noticeprovide any notice of the type referred to in the preceding sentence, any applicable 60-day the period during which such registration statement must remain the Registration Statement is required by subsection (a) to be effective pursuant to this Agreement shall be extended by the number of days during the period from and including the date of giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) is provided, to and including the date when all such Selling Holders shall receive have received copies of the corrected prospectus.
(i) The Company shall enter into such agreements and take such other appropriate actions as are customary and reasonably necessary to expedite or facilitate the disposition of such Registrable Securities, and in that regard, deliver to the Holders such documents and certificates as may be reasonably requested by the Holders of a supplemented majority of the Registrable Securities being sold or, as applicable, the managing underwriters, to evidence the Company's compliance with this Agreement, including, in the case of any underwritten offering, using commercially reasonable efforts to cause its independent accountants to deliver to the managing underwriters an accountants' comfort letter substantially similar to that in scope delivered in an underwritten public offering and covering audited and interim financial statements included in the registration statement, or amended prospectus and if such prospectus shall have been filed letter can not be obtained through the exercise of commercially reasonable efforts, cause its independent accountants to deliver to the managing underwriters a comfort letter based on negotiated procedures providing comfort with respect to the CommissionCompany's financial statements included or incorporated by reference in the registration statement at the highest level permitted to be given by such accountants under the then applicable standards of the American Institute of Certified Public Accountants with respect to such Registration Statement.
Appears in 3 contracts
Samples: Registration Rights Agreement (Pegasus Communications Corp), Registration Rights Agreement (Pegasus Communications Corp), Merger Agreement (Pegasus Communications Corp)
Registration Procedures. (a) If and whenever Whenever the Stockholders request that any Registrable Securities be registered pursuant to this Agreement, the Company is required to will use commercially its reasonable best efforts to effect the registration and the sale of any such Registrable Securities under in accordance with the Securities Act as provided in Sections 3.1 intended method of disposition thereof and 3.2, pursuant thereto the Company shall will as promptly expeditiously as practicable reasonably practicable:
(a) prepare and (within, in the case of a Long-Form Registration, forty-five (45) days, or, in the case of a Short-Form Registration, thirty (30) days, in each case, after the end of the period within which requests for inclusion in such registration may be given to the extent applicable):
(iCompany, if relevant) prepare and file with the Securities and Exchange Commission a registration statement with respect to effect such registration, Registrable Securities and thereafter use its reasonable best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further (provided that before filing such a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to the counsel selected by the holders Sponsor for any registration in which the Sponsor participates (or counsel selected by the Stockholders holding a majority of the Registrable Securities for which are to be included registration is sought, for any registration in such registration (“Selling Holders”) which the Sponsor does not participate and in which the other Stockholders do participate), copies of all such documents proposed to be filed, which documents will be subject to the review of by such counsel, and such review to be conducted with reasonable promptness);
(iib) prepare and file with the Securities and Exchange Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary (i) to keep such registration statement effective (A) for at least ninety (90) days (subject to extension pursuant to Section 3.3(b)) or until each Stockholder participating in such registration has completed the distribution described in the registration statement relating to such distribution, whichever occurs first or, if such registration statement relates to an underwritten offering, such longer period as in the opinion of counsel for the underwriters a prospectus is required by law to be delivered in connection with sales of Registrable Securities by an underwriter or dealer, or (B) in the case of a Shelf Registration, until the earlier of (1) the date on which all Registrable Securities have been sold under the Shelf Registration or otherwise no longer qualify as Registrable Securities and (2) the latest date allowed by applicable law, and (ii) to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivestatement;
(iiic) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of Stockholder participating in such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of such registration statement, each amendment and supplement thereto, the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, Stockholder may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerStockholder;
(ivd) use commercially its reasonable best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder Stockholder participating in such registration reasonably requests and do any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter Stockholder to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except Stockholder (provided that the Company shall will not for any such purpose be required to (i) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause subsection, (ivii) be obligated to be so qualified, to subject itself to taxation in respect of doing business in any such jurisdiction or to file a general (iii) consent to general service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viiie) promptly notify each Stockholder participating in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the such registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the discovery of the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes statement contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances under which they were made, and, at the request of any Selling HolderStockholder participating in such registration, promptly the Company will prepare and furnish to such seller Stockholder a reasonable number of copies of a supplement or amendment to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the prospective purchasers of such Registrable Securities, such prospectus shall will not include contain an untrue statement of a material fact or omit to state a material any fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances under which they were made;
(xf) make every reasonable effort cause all such Registrable Securities to obtain be listed on each securities exchange on which similar securities issued by the withdrawal of any order suspending Company are then listed;
(g) provide a transfer agent and registrar for all such Registrable Securities not later than the effectiveness effective date of such registration statement;
(xih) if at any time when the Company is required to re-evaluate its WKSI status for purposes of an automatic shelf registration statement used to effect a request for registration in accordance with Section 1.4 (i) the Company determines that it is not a WKSI, (ii) the registration statement is required to be kept effective in accordance with this Agreement, and (iii) the registration rights of the Stockholders hereunder have not terminated, promptly amend the registration statement onto a form the Company is then eligible to use or file a new registration statement on such form, and keep such registration statement effective in accordance with the requirements otherwise applicable under this Agreement;
(i) if (i) a Shelf Registration is required to be kept effective in accordance with this Agreement after the third anniversary of the initial effective date of the Shelf Registration, (ii) the registration rights of the Stockholders hereunder have not terminated and (iii) the Company is eligible at such time to file a Shelf Registration, file a new registration statement with respect to any unsold Registrable Securities subject to the original request for registration prior to the end of the three year period after the initial effective date of the Shelf Registration, and keep such registration statement effective in accordance with the requirements otherwise applicable under this Agreement;
(j) enter into such customary agreements (including underwriting agreements in customary form) and perform the Company’s obligations thereunder and take all such other actions as the Stockholders participating in such registration or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (which might include effecting a stock split or a combination of shares);
(k) subject to reasonable confidentiality undertakings, make available for inspection by each Stockholder participating in such registration, any underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other agent retained by such Stockholders or any such underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors, employees and independent accountants to supply all information reasonably requested by any such Stockholder, underwriter, attorney, accountant or agent in connection with such registration statement, and to cooperate and participate as reasonably requested by any such seller in road show presentations, in the preparation of the registration statement, each amendment and supplement thereto, the prospectus included therein, and other activities as such Stockholder may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Stockholder;
(l) otherwise use commercially its reasonable best efforts to comply with all applicable rules and regulations of the Securities and Exchange Commission, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, but not later than fifteen (15) months after the effective date of the registration statement, an earnings statement covering the period of at least 12 months, but not more than 18 months, twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of such the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xiim) in the event of the issuance of any stop order suspending the effectiveness of a registration statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any securities included in such registration statement for sale in any jurisdiction, the Company will use its reasonable best efforts promptly to obtain the withdrawal of such order;
(n) obtain one or more comfort letters, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, also dated the date of the closing under the underwriting agreement) addressed to the Persons participating in such offering, signed by the Company’s independent public accountants in the then-current customary form and covering such matters of the type customarily covered from time to time by comfort letters as the Stockholders participating in such registration may reasonably request;
(o) provide one or more legal opinions of the Company’s outside counsel, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, dated the date of the closing under the underwriting agreement and addressed to the underwriters), with respect to the registration statement, each amendment and supplement thereto, the prospectus included therein (including the preliminary prospectus) and such other documents relating thereto in the then-current customary form and covering such matters of the type customarily covered from time to time by legal opinions of such nature (in a form reasonably acceptable to the Stockholders participating in such registration);
(p) cooperate with the sellers Stockholders participating in such registration and the managing underwriter underwriter(s), if any, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, legends) representing securities to be sold under any the registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter underwriter(s), if any, or the Sponsor may request;
(q) notify counsel for the Stockholders participating in such sellers may request registration and keep available the managing underwriter(s), immediately, and make available confirm the notice in writing (i) when the registration statement, or any post-effective amendment to the Company’s transfer agent prior registration statement, shall have become effective, or any supplement to the prospectus or any amendment prospectus shall have been filed, (ii) of the receipt of any comments from the Securities and Exchange Commission, (iii) of any request of the Securities and Exchange Commission to amend the registration statement or amend or supplement the prospectus or for additional information, and (iv) of the issuance by the Securities and Exchange Commission of any stop order suspending the effectiveness of such the registration statement a supply or of any order preventing or suspending the use of any preliminary prospectus, or of the suspension of the qualification of the registration statement for offering or sale in any jurisdiction, or of the institution or threatening of any proceedings for any of such certificates as necessary or appropriatepurposes;
(xiiir) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by prevent the Selling Holders and issuance of any stop order suspending the underwriters in the offering, marketing or selling effectiveness of the Registrable Securitiesregistration statement or of any order preventing or suspending the use of any preliminary prospectus;
(xivs) if requested by any Selling Holders the managing underwriter(s) or any underwriterStockholder participating in such registration, promptly incorporate in the registration statement or any prospectus, pursuant to a prospectus supplement or post-effective amendment if necessary, such information as the managing underwriter(s) or such Selling Holders may Stockholder reasonably request requests to have be included therein, including, without limitation, information relating with respect to the “Plan number of Distribution” Registrable Securities being sold by such Stockholder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent and with respect to any other terms of the underwritten offering of the Registrable Securities;Securities to be sold in such offering; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or post-effective amendment; and
(xvt) cooperate with each Stockholder participating in such registration and assist each underwriter or agent participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, Stockholder participating in such registration to furnish the Company in writing such information relating to the sale or registration of such securities regarding each Selling Holder or underwriter such Stockholder and the distribution of such Registrable Securities securities as the Company hereunder may from time to time reasonably request to complete or amend the information required by such registration statementin writing.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Frontier Group Holdings, Inc.), Registration Rights Agreement (Frontier Group Holdings, Inc.), Registration Rights Agreement (Frontier Group Holdings, Inc.)
Registration Procedures. In the case of each registration, qualification or compliance effected by the Company pursuant to this Section 2, Company will keep each Holder advised in writing as to the initiation of each registration, qualification and compliance and as to the completion thereof. Subject to Section 2.2.3, at its expense Company will:
(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare Prepare and file with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules securities and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to become effective within 90 days of filing, and to remain effective pursuant from such effective date until the earlier to the terms occur of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to (i) one year after the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments theretostatement, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) the date on which all Registrable Securities may be sold by non-affiliates of Company pursuant to paragraph (k) of Rule 144 (or any successor provision) promulgated by the Commission under the Securities Act, and (iii) the date as of which all Registrable Securities have been sold pursuant to the registration statement, and prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and supplements to the prospectus used in connection therewith and any Exchange Act reports incorporated by reference contained therein as may be necessary to keep such registration statement effective for the period described above, provided that, unless approved by Company in its discretion, no such registration shall constitute a shelf registration under Rule 415 promulgated by the Commission under the Securities Act;
(b) Enter into a written underwriting agreement in customary and to comply reasonable form and substance with the provisions managing underwriter or underwriters of the Securities Act with respect public offering of such securities, if the offering is to be underwritten in whole or in part;
(c) Furnish to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth Holders participating in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the registration statement, preliminary prospectus, final prospectus contained and other documents as the Holders may reasonably request;
(d) Notify the Holders participating in such registration, promptly after it shall receive notice thereof, of the time when such registration statement (including each preliminary has become effective or a supplement to any prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements forming a part of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerregistration statement has been filed;
(ive) use commercially reasonable efforts to register or qualify Notify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws Holders promptly of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments the amending or supplements to the supplementing of such registration statement or the prospectus or for additional information;
(3f) the issuance by Prepare and file with the Commission promptly upon the request of any stop order suspending the effectiveness of the such Holders any amendments or supplements to such registration statement or prospectus which, in the initiation reasonable opinion of any proceedings counsel for such Holders and for Company, is required under the Securities Act or the rules and regulations thereunder in connection with the distribution of the Registrable Securities by any Person for that purposesuch Holders;
(4g) when any Issuer Free Writing Prospectus includes information that may conflict Prepare and promptly file with the information contained in the Commission, and promptly notify such Holders of, such amendment or supplement to such registration statement; and
(5) the receipt by the Company of statement or prospectus as may be necessary to correct any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities statements or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holderomissions if, at any the time when a prospectus relating thereto to such securities is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event has occurred as a the result of which, the which any such prospectus included in such registration statement, or any other prospectus as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not effect would include an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading;misleading in light of the circumstances in which they were made; and
(xh) make every reasonable effort to Advise such Holders, promptly after it shall receive notice or obtain knowledge thereof, of the withdrawal issuance of any stop order by the Commission suspending the effectiveness of such registration statement;
(xi) otherwise statement or the initiation or threatening of any proceeding for that purpose and promptly use commercially reasonable efforts to comply with all applicable rules and regulations of prevent the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance issuance of any due diligence investigation by any underwriter that is required stop order or to obtain its withdrawal if such stop order should be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementissued.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Stock Acquisition Agreement (Mezzanine Investment Corp), Stock Acquisition Agreement (Trycera Financial, Inc.), Stock Acquisition Agreement (Trycera Financial, Inc.)
Registration Procedures. (a) If and whenever the Company is required by the provisions of Sections 5.2, 5.3 or 5.4 to effect the registration of shares of Registrable Securities under the Securities Act, the Company will use commercially reasonable its best efforts to effect the registration and sale of any such Registrable Securities under in accordance with the Securities Act as provided in Sections 3.1 and 3.2intended methods of disposition specified by the holders participating therein. Without limiting the foregoing, the Company shall as promptly as practicable (in each casesuch case will, to the extent applicable):as expeditiously as possible:
(ia) prepare and file with the Commission (in the case of a demand registration pursuant to Section 5.2 or 5.4) the requisite registration statement to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under Securities Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use commercially reasonable its best efforts to cause such registration statement to remain effective pursuant to the terms of this Agreementbecome effective; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that as far in advance as practical before filing such registration statement or any amendments amendment thereto, the Company will furnish to counsel for the counsel selected by the requesting holders copies of Registrable Securities which are to be included in such registration (“Selling Holders”) copies reasonably complete drafts of all such documents proposed to be filed, which documents will be subject to the review of such counselfiled (including exhibits), and any such review holder shall have the opportunity to be conducted object to any information pertaining solely to such holder that is contained therein and the Company will make the corrections reasonably requested by such holder with reasonable promptnessrespect to such information prior to filing any such registration statement or amendment;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the any prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep maintain the effectiveness of such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by Registrable Securities included in such registration statement statement, in accordance with the intended methods of disposition thereof, until the earlier of (i) such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or and (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 one hundred eighty (180) days after such registration statement becomes effective;
(c) promptly notify each requesting holder and the underwriter or underwriters, if any:
(i) when such registration statement or any prospectus used in connection therewith, or any amendment or supplement thereto, has been filed and, with respect to such registration statement or any post-effective amendment thereto, when the same has become effective;
(ii) of any written request by the Commission for amendments or supplements to such registration statement or prospectus;
(iii) of the notification to the Company by the Commission of its initiation of any proceeding with respect to the issuance by the Commission of, or of the issuance by the Commission of, any stop order suspending the effectiveness of such registration statement; and
(iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction;
(d) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by Registrable Securities included in such Selling Holder registration statement such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 promulgated under the Securities ActAct relating to such seller’s Registrable Securities, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the its Registrable Securities owned by such sellerSecurities;
(ive) use commercially reasonable its best efforts to register or qualify such all Registrable Securities covered by included in such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter each holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably requestrequest within twenty (20) days following the original filing of such registration statement and to keep such registration or qualification in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderholder, except that the Company shall not for any such purpose be required (i) to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause paragraph (ive) be obligated to be so qualified, (ii) to consent to general service of process in any such jurisdiction or (iii) to subject itself to taxation in any such jurisdiction by reason of such registration or to file a general consent to service of process in any such jurisdictionqualification;
(vf) use commercially reasonable its best efforts to cause such all Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by included in such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) each holder thereof to consummate the disposition of such Registrable Securities;
(viig) in connection with an Underwritten Offeringif and to the extent any of the following are obtained by or furnished to the Company or the underwriters, obtain for each Selling Holder furnish to any holder who so requests a signed counterpart, addressed to such holder (and underwriterthe underwriters, if any), of:
(1i) an opinion of counsel for the Company, covering dated the matters customarily covered in opinions requested in effective date of such registration statement (or, if such registration includes an underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwritersPublic Offering, dated the date of any closing under the underwriting agreement), and
(2ii) a “cold comfort” letter letter, dated the effective date of such registration statement (orand, in if such registration includes an underwritten Public Offering, dated the case date of any such Person which does not satisfy closing under the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72underwriting agreement), an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless that the disclosure of such Records is necessary obligation to avoid or correct furnish a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company “cold comfort” letter shall not only be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable imposed to the Company; and provided, further, that each Holder extent permitted under any then-prevailing rules of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidentialaccounting procedure;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixh) notify each Selling Holderholder whose Registrable Securities are included in such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, the which any prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein therein, in the light of the circumstances under which they were made, not misleading, and, and at the request of any Selling Holder, such holder promptly prepare and furnish to such seller holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in the light of the circumstances under which they were made, not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xii) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the Commission, ;
(j) provide a transfer agent and make available to Selling Holders, as promptly as practicable, an earnings registrar for all Registrable Securities included in such registration statement covering the period of at least 12 months, but not more later than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvik) otherwise use commercially reasonable its best efforts to comply with cause all applicable rules and regulations Registrable Securities included in such registration statement to be listed, upon official notice of issuance, on any securities exchange or quotation system on which any of the Commission and all reporting requirements under the rules and regulations securities of the Exchange Act. same class as the Registrable Securities are then listed.
(l) The Company may require each Selling Holder holder whose Registrable Securities are being registered to, and each underwritersuch holder shall, if anyas a condition to including Registrable Securities in such registration, to furnish the Company in writing and the underwriters with such information and affidavits regarding each Selling Holder or underwriter such holder and the distribution of such Registrable Securities securities as the Company and the underwriters may from time to time reasonably request to complete or amend in writing in connection with such registration. At any time during the effectiveness of any registration statement covering Registrable Securities offered by a holder, if such holder becomes aware of any change materially affecting the accuracy of the information required by contained in such registration statementstatement or the prospectus (as then amended or supplemented) relating to such holder, it will immediately notify the Company of such change.
(bm) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon Upon receipt of any notice from the Company of the happening of any event of the kind described in paragraph (h) of this Section 3.6(a)(ix)5.5, such Selling Holder shall each holder will forthwith discontinue such Selling Holderholder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto to such Registrable Securities until such Selling Holder’s receipt of holder receives the copies of the supplemented or amended prospectus contemplated by paragraph (h) of this Section 3.6(a)(ix) 5.5 and, if so directed by the Company, shall deliver to the Company, at the Company’s expense, Company all copies, other than permanent file copies, then in such Selling Holderholder’s possession of the prospectus relating to such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Investors’ Rights Agreement (Salient Surgical Technologies, Inc.), Investors’ Rights Agreement (Salient Surgical Technologies, Inc.), Investors’ Rights Agreement (Salient Surgical Technologies, Inc.)
Registration Procedures. (a) If and whenever Whenever the Purchaser has requested that any Registrable Securities be registered pursuant to this Agreement, the Company is required to will use commercially reasonable its best efforts to effect the registration and the sale of any such Registrable Securities under in accordance with the Securities Act as provided in Sections 3.1 intended method of disposition thereof, and 3.2, pursuant thereto the Company shall will as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare and within 60 days (or 45 days with respect to any Short-Form Registration) after the end of the period within which requests for registration may be given to the Company file with the Securities and Exchange Commission a registration statement with respect to effect such registration, Registrable Securities and thereafter use its best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further (provided that before filing such a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to the counsel selected by the holders of a majority of the Registrable Securities which are to be included in initiating such registration (“Selling Holders”) statement copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness);
(iib) prepare and file with the Securities and Exchange Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for a period of either (i) not less than 180 days (subject to extension pursuant to Section 8.8 (b)) or, if such registration statement relates to an underwritten offering, such longer period as in the opinion of counsel for the underwriters a prospectus is required by law to be delivered in connection with sales of Registrable Securities by an underwriter or dealer or (ii) such shorter period as will terminate when all of the securities covered by such registration statement have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement (but in any event not before the expiration of any longer period required under the Securities Act), and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivestatement;
(iiic) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), Registrable Securities such number of copies of such registration statement, each amendment and supplement thereto, the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivd) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder seller reasonably requests and do any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except seller (provided that the Company shall will not for any such purpose be required to (i) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause subparagraph, (ivii) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general (iii) consent to general service of process in any such jurisdiction);
(ve) use commercially notify each seller of such Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event (a “Changing Event”) as a result of which, the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading in the light of the circumstances under which they were made, and, at the request of any such seller, the Company will as soon as possible prepare and furnish to such seller (a “Correction Event”) a reasonable efforts number of copies of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading in the light of the circumstances under which they were made;
(f) cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are not so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock MarketNASD automated quotation system;
(vig) use commercially reasonable efforts to cause provide a transfer agent and registrar for all such Registrable Securities covered by not later than the effective date of such registration statement to be registered with or approved by statement;
(h) enter into such customary agreements (including underwriting agreements in customary form) and take all such other governmental agencies actions as the holders of a majority of the Registrable Securities being sold or authorities as may be necessary the underwriters, if any, reasonably request in order to enable the Selling Holder(s) thereof to consummate expedite or facilitate the disposition of such Registrable Securities;
Securities (vii) in connection with an Underwritten Offeringincluding, obtain for each Selling Holder and underwriter:
(1) an opinion without limitation, effecting a stock split or a combination of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statementshares);
(3i) promptly make available for inspection by any sellerseller of Registrable Securities, any underwriter participating in any disposition pursuant to any such registration statement, statement and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”)underwriter, all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibilityCompany, and cause the Company’s officers, directors directors, Employees and employees independent accountants to supply all information reasonably requested by any such Inspector seller, underwriter, attorney, accountant or agent in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xij) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the Securities and Exchange Commission, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, twelve months beginning with the first day of the Company’s first full calendar quarter after the effective date of such the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xiik) cooperate with in the sellers and event of the managing underwriter to facilitate issuance of any stop order suspending the timely preparation and delivery effectiveness of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any a registration statement, and enable such or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any securities to be included in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of for sale in any jurisdiction, the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise will use its reasonable best efforts promptly to cooperate as reasonably requested obtain the withdrawal of such order;
(l) use its best efforts to obtain one or more comfort letters, dated the effective date of such registration statement (and, if such registration includes a public offering, dated the date of the closing under the underwriting agreement), signed by the Selling Holders Company’s independent public accountants in customary form and covering such matters of the underwriters in type customarily covered by comfort letters as the offering, marketing or selling holders of a majority of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may Securities being sold reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRArequest; and
(xvim) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations provide a legal opinion of the Commission and all reporting requirements Company’s outside counsel, dated the effective date of such registration statement (and, if such registration includes a public offering, dated the date of the closing under the rules underwriting agreement), with respect to the registration statement, each amendment and regulations supplement thereto, the prospectus included therein (including the preliminary prospectus) and such other documents relating thereto in customary form and covering such matters of the Exchange Acttype customarily covered by legal opinions of such nature. The Company may require each Selling Holder and each underwriter, if any, seller of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such seller and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementin writing.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Idleaire Technologies Corp), Securities Purchase Agreement (Idleaire Technologies Corp), Securities Purchase Agreement (Idleaire Technologies Corp)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 4.1 and 3.24.2 or any "draw-down" pursuant to Section 4.1, the Company shall will promptly:
(a) cooperate with any underwriters for, and the holders of such Registrable Securities, and will enter into a usual and customary underwriting agreement with respect thereto and take all such other reasonable actions as promptly as practicable (are necessary or advisable to permit, expedite and facilitate the disposition of such Registrable Securities in each casethe manner contemplated by the related registration statement, and the Company will provide to the extent applicable):holders of such Registrable Securities, any underwriter participating in any distribution thereof pursuant to a registration statement, and any attorney, accountant or other agent retained by any holder of Registrable Securities or underwriter, reasonable access to appropriate Company officers and employees to answer questions and to supply financial and other information reasonably requested by any such holders of Registrable Securities, underwriter, attorney, accountant or agent in connection with such registration statement;
(ib) prepare and file with the Commission a registration statement with respect to effect such registration, Registrable Securities and cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnesseffective;
(iic) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and, with respect to any "draw-down," to reflect the method of disposition of the Registrable Securities pursuant to such "draw-down," and to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities and other securities covered by such registration statement until the earlier of such time as all of such Registrable Securities and such other securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) or, in the case of a Demand Registration registration pursuant to Section 3.14.2 hereof, the expiration of 60 sixty (60) days after such registration statement becomes effective; and will furnish, upon request, to each such seller prior to the filing thereof a copy of any amendment or (ii) in the case of a Piggyback Registration pursuant supplement to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveor prospectus and shall not file any such amendment or supplement to which any such seller shall have reasonably objected on the grounds that such amendment or supplement does not comply in all material respects with the requirements of the Securities Act or of the rules or regulations thereunder;
(iiid) furnish to each Selling Holder seller of such Registrable Securities and each underwriter, the underwriters (if any, of the securities being sold by such Selling Holder ) such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriterdocuments, if any, incorporated by reference in such registration statement or prospectus, and such other documents, as such seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(ive) promptly, upon written request, deliver to each seller of Registrable Securities and the underwriters (if any), copies of all correspondence between the Commission and (i) the Company, (ii) its counsel, or (iii) its auditors, with respect to the registration statement;
(f) use commercially reasonable its best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter the states of the securities being sold by such Selling Holder United States as each seller shall reasonably request, to keep such registration or qualification in effect for so long as such registration statement remains in effect, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities owned covered by such Selling Holderregistration statement, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause Subsection (ivf) be obligated to be so qualified, or to subject itself to taxation in any such jurisdiction jurisdiction, or to file a general consent to general service of process in any such jurisdiction;
(vg) use commercially reasonable efforts to cause such Registrable Securities to be listed on immediately notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such seller of Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, andwhich untrue statement or omission requires amendment of the registration statement or supplementation of the prospectus, and at the request of any Selling Holdersuch seller, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing; provided, however, that each holder of Registrable Securities registered pursuant to such registration statement agrees that he will not sell any Registrable Securities pursuant to such registration statement during the time that the Company is preparing and filing with the Commission a supplement to or an amendment of such prospectus or registration statement;
(xh) make every reasonable effort to obtain in the withdrawal event of the issuance of any stop order suspending the effectiveness of such any registration statementstatement or of any order suspending or preventing the use of any prospectus or suspending the qualification of any Registrable Securities for sale in any jurisdiction, use its best efforts to obtain its withdrawal;
(xii) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holdersits securities holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve (12) months, but not more than 18 eighteen (18) months, beginning with the first day month of the Company’s first full fiscal quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderAct;
(xiij) cooperate with the sellers provide and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities cause to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s maintained a transfer agent prior to and registrar for all Registrable Securities covered by such registration statement from and after a date not later than the effectiveness effective date of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAstatement; and
(xvik) otherwise use commercially reasonable its best efforts to comply with list all applicable rules and regulations Common Stock covered by such registration statement on each securities exchange or securities quotation system on which any of the Commission and all reporting requirements under the rules and regulations of the Exchange ActCommon Stock is then listed. The Company may require each Selling Holder and each underwriter, if any, seller of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such seller and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend the information and as shall be required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by law or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then Commission in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionconnection therewith.
Appears in 3 contracts
Samples: Merger Agreement (Shaw Industries Inc), Shareholder Agreement (Maxim Group Inc /), Merger Agreement (Maxim Group Inc /)
Registration Procedures. (a) If In connection with the Company’s registration obligations pursuant to Articles II and whenever III hereof, the Company is required to will use commercially its reasonable efforts to effect such registrations to permit the registration sale of any Registrable Securities under by a Holder in accordance with the Securities Act as provided in Sections 3.1 intended method or methods of disposition thereof, and 3.2, pursuant thereto the Company shall will as promptly as practicable (in each case, to the extent applicable):reasonably practicable:
(ia) prepare and file with the Commission SEC a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted Registration Statement on an appropriate form under the rules and regulations Securities Act available for the sale of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to Registrable Securities by the terms selling Holders in accordance with the intended method or methods of this Agreementdistribution thereof; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior will, before filing, furnish to each selling Holder and the effective date managing underwriters, if any, copies of the registration statement relating thereto; provided, further that before filing such registration statement Registration Statement or Prospectus or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are or supplements thereto (including documents that would be incorporated or deemed to be included in such registration (“Selling Holders”incorporated therein by reference) copies of all such documents proposed to be filedfiled and provide each selling Holder, which documents will be subject to the review of such counselmanaging underwriters, if any, and their counsel with a reasonable opportunity to comment on such review to be conducted with reasonable promptnessRegistration Statement or Prospectus or amendments or supplements thereto;
(iib) furnish, at its expense, to the selling Holders and the managing underwriters, if any, such number of conformed copies of the Registration Statement and each amendment thereto, of the Prospectus and each supplement thereto, and of such other documents as the selling Holders reasonably may request from time to time;
(c) prepare and file with the Commission such SEC any amendments (including and post-effective amendments) and supplements amendments to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein Registration Statement as may be necessary and any supplements to keep such the Prospectus as may be required or appropriate, in the view of the Company and its counsel, by the rules, regulations or instructions applicable to the registration statement effective and to comply with form used by the provisions of Company or by the Securities Act with respect to keep the disposition of all securities covered by such registration statement Registration Statement effective until the earlier of (i) such time as all of such securities have been Registrable Securities covered by the Registration Statement are disposed of in accordance with the intended methods plan of disposition by the seller or sellers thereof distribution set forth in such registration statement the Registration Statement or supplement to the Prospectus and (iii) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveEffectiveness Period;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3d) promptly make available for inspection by any sellerfollowing its actual knowledge thereof, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, notify the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder selling Holders and the managing underwriters, if any, of the following eventsand their counsel:
(1i) the filing of the registration statementwhen a Registration Statement, the prospectus or any prospectus supplement related theretoProspectus, any Issuer Free Writing Prospectus or post-effective any supplement or amendment to the registration statement thereto has been filed and, with respect to the registration statement a Registration Statement or any post-effective amendment theretoamendment, when the same has become effective;
(2ii) of any request by the Commission SEC or any other governmental authority for amendments or supplements to the registration statement a Registration Statement, Prospectus or the prospectus Issuer Free Writing Prospectus or for additional information;
(3iii) of the issuance by the Commission SEC or any other governmental authority of any stop order suspending the effectiveness of the registration statement a Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4iv) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
(ixv) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under of the Securities Act, upon discovery that, or upon the happening occurrence of any event as a result of which, which makes any statement made in the prospectus included Registration Statement or Prospectus or any Issuer Free Writing Prospectus untrue in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein respect or necessary to make which requires the statements therein not misleading, and, at the request making of any Selling Holderchanges in a Registration Statement, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to Prospectus, Issuer Free Writing Prospectus or an amendment of such prospectus as may be necessary other documents so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall that it will not include an untrue statement of a material fact or omit to state a any material fact required to be stated therein (in the case of the Registration Statement only) or necessary in order to make the statements therein therein, in light of the circumstances under which they were made, not misleading; and
(vi) to the extent not covered by Section 5.1(d)(v), of the Company’s reasonable determination that a post-effective amendment to a Registration Statement is necessary;
(xe) make every use its reasonable effort efforts to prevent the issuance or obtain the withdrawal of any order suspending the effectiveness of such registration statementa Registration Statement, or the lifting of any suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable date;
(xif) otherwise prior to any public offering of Registrable Securities, register or qualify and cooperate with the selling Holders, the managing underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable Securities for offer and sale under the securities or blue sky laws of such jurisdictions within the United States as the selling Holders or the managing underwriters reasonably request in writing and maintain each registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept effective pursuant to this Agreement and to take any other action that may be necessary or advisable to enable such selling Holders or the underwriters, if any, to consummate any disposition of such Registrable Securities in such jurisdiction; provided, however, that the Company will not be required to qualify generally to do business in any jurisdiction in which it is not then so qualified or take any action which would subject it to general service of process or material taxation in any jurisdiction in which it is not then so subject;
(g) as promptly as practicable upon the occurrence of any event contemplated by Section 5.1(d)(v) hereof or any determination by the Company contemplated by Section 5.1(d)(vi) hereof, prepare (and furnish, at its expense, to the selling Holders and the managing underwriters, if any, a reasonable number of copies of) a supplement or post-effective amendment to each Registration Statement or a supplement to the related Prospectus (including by means of an Issuer Free Writing Prospectus), or file any other required document so that, in the case of Section 5.1(d)(v), the Registration Statement and, as thereafter delivered to the purchasers of the Registrable Securities being sold thereunder, such Prospectus or Issuer Free Writing Prospectus will not include an untrue statement of a material fact or omit to state any material fact required (in the case of the Registration Statement only) or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading and, in the case of Section 5.1(d)(vi), the post-effective amendment to the Registration Statement is effected in the manner determined necessary by the Company;
(h) in the case of an Underwritten Offering, enter into customary agreements (including an underwriting agreement) and take other actions reasonably necessary to expedite the disposition of the Registrable Securities, and in connection therewith:
(i) use commercially its reasonable efforts to obtain opinions of counsel to the Company (such counsel being reasonably satisfactory to the managing underwriters, if any) and updates thereof covering matters customarily covered in opinions of counsel requested in Underwritten Offerings, addressed to the underwriters;
(ii) use its reasonable efforts to obtain “comfort” letters and updates thereof from the independent certified public accountants of the Company addressed to the underwriters, if any, covering matters customarily covered in “comfort” letters in connection with Underwritten Offerings;
(iii) provide officers’ certificates and other customary closing documents reasonably requested by the managing underwriters; and
(iv) if so requested (pursuant to a notice received prior to the applicable Offering Launch) by the managing underwriters for the Underwritten Offering relating thereto, subject to customary exceptions, agree not to effect any underwritten public sale or distribution of any securities that are the same as, or similar to, the Registrable Securities to be included in the Underwritten Offering, or any securities convertible into, or exchangeable or exercisable for, any securities of the Company that are the same as, or similar to, the Registrable Securities to be included in the Underwritten Offering, during a period specified by the managing underwriters not to exceed ninety (90) days.
(i) upon reasonable notice and at reasonable times during normal business hours, make available for inspection by a representative of each selling Holder and the managing underwriters, if any, participating in any disposition of Registrable Securities and attorneys or accountants retained by any selling Holder or any underwriter, customary due diligence information; provided, however, that for the avoidance of doubt any information supplied hereunder is subject to Section 11.2 hereof;
(j) use its reasonable efforts to comply with all applicable rules and regulations of the Commission, SEC relating to such registration and make generally available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy its security holders earning statements satisfying the provisions of Section 11(a) of the Securities Act and Act; provided, that the Company will be deemed to have complied with this Section 5.1(j) if it has satisfied the provisions of Rule 158 thereunderunder the Securities Act (or any similar rule promulgated under the Securities Act);
(xiik) cooperate with use its reasonable efforts to:
(i) cause all Registrable Common Securities (without regard to any proviso in such definition) to be listed on the sellers New York Stock Exchange (or such other national securities exchange on which shares of Common Stock are listed and traded from time to time);
(ii) upon the managing underwriter reasonable request of the Holders of Preferred Stock, cause all Registrable Preferred Securities (without regard to facilitate any proviso in such definition) to be listed on the timely preparation New York Stock Exchange (or such other national securities exchange on which shares of Common Stock are listed and delivery traded from time to time); and
(iii) in respect of certificates a listing referred to in the foregoing clause (which shall not bear any restrictive legends unless required under applicable lawi) and, if applicable, clause (ii), if necessary or appropriate, representing securities sold under any registration statement, and enable to maintain such securities listing;
(l) use its reasonable efforts to be in such denominations and registered in such names as procure the managing underwriter or such sellers may request and keep available and make available to cooperation of the Company’s transfer agent prior to or The Depository Trust Company, as applicable, in settling any offering or sale of Registrable Securities; and
(m) cooperate with each seller of Registrable Securities and each underwriter or agent participating in the effectiveness disposition of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare Registrable Securities and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters their respective counsel in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in connection with any filings required to be made with the Financial Industry Regulatory AuthorityFINRA, Inc. including the retention of a “Qualified Independent Underwriter” (“FINRA”as defined in FINRA Rule 5121(f)(12)) and in the performance use of any due diligence investigation by any underwriter that is required reasonable best efforts to be undertaken in accordance obtain FINRA’s pre-clearance or pre-approval of the Registration Statement and applicable Prospectus upon filing with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementSEC.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 3 contracts
Samples: Registration Rights Agreement (Kennedy-Wilson Holdings, Inc.), Registration Rights Agreement (Kennedy-Wilson Holdings, Inc.), Registration Rights Agreement (Kennedy-Wilson Holdings, Inc.)
Registration Procedures. (a) If and whenever In the case of each registration effected by the Company is required pursuant to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Article I or II, the Company shall will keep each Holder participating in such registration reasonably informed as promptly to the status thereof and, at its expense, the Company will, as practicable (in each case, expeditiously as possible to the extent applicable)::
(ia) prepare and file file, as promptly as reasonably practicable, with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at securities in accordance with the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms applicable provisions of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(iib) prepare and file file, as promptly as reasonably practicable, with the Commission such amendments (amendments, including post-effective amendments) , and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein with such registration statement as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with (including to permit the intended methods method of disposition by distribution thereof) and as may be necessary to keep the seller or sellers thereof registration statement continuously effective for the period set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivethis Agreement;
(iiic) furnish to each Selling Holder the Holders participating in such registration and each underwriterto their legal counsel copies of the registration statement proposed to be filed, if any, and provide such Holders and their legal counsel the reasonable opportunity to review and comment on such registration statement;
(d) furnish to the Holders participating in such registration and to the underwriters of the securities being sold by registered such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such reasonable number of copies of the prospectus contained in such registration statement (including each statement, preliminary prospectus and any summary prospectus) and any other final prospectus filed under Rule 424 under as the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, underwriters may reasonably request in order to facilitate the public sale or other disposition offering of the Registrable Securities owned by such sellersecurities;
(ive) use commercially reasonable efforts to register or qualify such notify each Holder of Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Act of the Company’s knowledge of the happening of any event as a result of which, which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading or incomplete in the light of the circumstances then existing, and, subject to Section 3.1(n), at the request of any Selling such Holder, prepare promptly prepare and furnish to such seller Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers purchaser of such Registrable Securitiesshares, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading or incomplete in the light of the circumstances then existing;
(xf) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules register and regulations of qualify the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of covered by such registration statement a supply under such other securities or blue sky laws of such certificates jurisdictions as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as shall be reasonably requested by the Selling Holders and Holders; provided, however, that the underwriters Company shall not be required in the offering, marketing connection therewith or selling as a condition thereto to qualify to do business or to file a general consent to service of the Registrable Securitiesprocess in any such states or jurisdictions in which it is not already qualified;
(xivg) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of event that the Registrable Securities;
(xv) cooperate Securities are being offered in an underwritten public offering, enter into and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) perform its obligations under an underwriting agreement on customary terms and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations applicable provisions of the FINRA; andthis Agreement;
(xvih) otherwise use commercially reasonable efforts to comply with all applicable rules furnish, (i) on the date that such Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, an opinion and regulations negative assurance letter, dated as of such date, of the Commission legal counsel representing the Company for the purposes of such registration, in form and all reporting requirements under substance as is customarily given to underwriters in an underwritten public offering, addressed to the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriterunderwriters, if any, to furnish and (ii) on the Company in writing such information regarding each Selling Holder or underwriter and date that the distribution offering of such Registrable Securities is priced and on the date that such securities are being sold through underwriters, a letter dated as of such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters;
(i) in connection with a customary due diligence review, make available during business hours for inspection by the Holders, any underwriter participating in any such disposition of Registrable Securities, if any, and any counsel or accountants retained by the Holders or underwriter (collectively, the “Offering Persons”), all relevant financial and other records, pertinent corporate documents and properties of the Company may from time and its subsidiaries, and cause the officers, directors and employees of the Company and its subsidiaries to time supply all relevant information and participate in customary due diligence sessions in each case reasonably request to complete requested by any such representative, underwriter, counsel or amend the information required by accountant in connection with such registration statement.
, provided, however, each such underwriter shall agree in writing to hold in strict confidence and not to make any disclosure or use of any information requested above (bthe “Requested Information”), unless (1) Without limiting any the disclosure of the foregoingRequested Information is necessary to avoid or correct a misstatement or omission in such registration or is otherwise required under the Securities Act, (2) the release of the Requested Information is ordered pursuant to a final, non-appealable subpoena or order from a court or government body of competent jurisdiction, (3) the Requested Information is or has been made generally available to the public other than by disclosure in violation of this Agreement, (4) the event that the offering of Registrable Securities is Requested Information was within such underwriter’s possession on a non-confidential basis prior to be made it being furnished to such underwriter by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements on behalf of the Company contained herein) or any of its representatives, provided that the source of such information was not bound by an issuer a confidentiality agreement or other contractual, legal or fiduciary obligation of common stock in underwriting agreements confidentiality with respect to offerings of common stock for such information or (5) the account of, or Requested Information becomes available to such underwriter on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, a non-confidential basis from a source other than the Company shall furnish or any of its representatives, provided that such source is not bound by a confidentiality agreement or other contractual, legal or fiduciary obligation of confidentiality with respect to such information. Such underwriter agrees that it shall, upon learning that disclosure of the Requested Information is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested Company and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to allow the Company, at the Company’s expense, all copiesto undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the Requested Information deemed confidential;
(j) in the event that any broker-dealer underwrites any Registrable Securities or participates as a member of an underwriting syndicate or selling group or “participates in an offering” (within the meaning of the FINRA Rules) thereof, whether as a Holder or as an underwriter, placement, sales agent or broker or dealer in respect thereof, or otherwise, the Company will, upon the reasonable request of such broker-dealer, comply with any reasonable request of such broker-dealer in complying with the FINRA Rules;
(k) notwithstanding any other than permanent file copiesprovision of this Agreement, then if the Board of Directors of the Company has determined in such Selling Holder’s possession good faith that the disclosure necessary for continued use of the prospectus current at and registration statement by the time of receipt of such notice relating Holders could be materially detrimental to such Registrable Securities. In the event Company, the Company shall give such notice, have the right not to file or not to cause the effectiveness of any applicable 60-day period during which such registration covering any Registrable Securities and to suspend the use of the prospectus and the registration statement must remain effective pursuant covering any Registrable Security for such period of time as its use would be materially detrimental to this Agreement shall be extended the Company by delivering written notice of such suspension to all Holders listed on the number of days during Company’s records; provided, however, that in any 12-month period the period from Company may exercise the right to such suspension not more than twice. From and after the date of giving of a notice regarding of suspension under this Section 3.1(k), each Holder agrees not to use the happening prospectus or registration statement until the earlier of an event (i) notice from the Company that such suspension has been lifted or (ii) the day following the sixtieth (60th) day of suspension within any 12-month period;
(l) cooperate with, and direct the Company’s transfer agent to cooperate with, the Holders and the managing underwriters, if any, to facilitate the timely settlement of any offering or sale of Registrable Securities, including the preparation and delivery of certificates or book-entry representing Registrable Securities to be sold together with any other authorizations, certificates, opinions and directions required by the transfer agent which authorize and direct the transfer agent to issue such Registrable Securities without restriction upon sale by the holder of such shares of Registrable Securities;
(m) use its reasonable best efforts to cause all shares of Registrable Securities to be listed on the national securities exchange on which the Common Stock is then listed; and
(n) cause its officers to use their reasonable best efforts to support the marketing of the kind described Registrable Securities (including, without limitation, participation in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus “road shows” and such prospectus shall have been filed with the Commissionother customary marketing activities, which may be virtual).
Appears in 2 contracts
Samples: Registration Rights Agreement (Cryoport, Inc.), Securities Purchase Agreement (Cryoport, Inc.)
Registration Procedures. (a) If and whenever the Company is ----------------------- required by the provisions of this Agreement to effect a registration of Registrable Securities:
(a) The Company will use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission SEC, within the time periods specified herein, a Registration Statement on Form S-3 or its equivalent (or on such other registration statement form available to effect such registrationthe Company that permits the greatest extent of incorporation by reference of materials filed by the Company, cause such registration statement to become effective at the earliest possible date permitted under the rules Exchange Act) and regulations of the Commission, and thereafter will use commercially reasonable efforts to cause such registration statement to become effective as promptly as practicable thereafter and to remain effective under the Securities Act until (1) the earlier of such time as all securities covered thereby have been disposed of pursuant to such Registration Statement or 180 days after such Registration Statement becomes effective, in the terms case of this Agreement; providedregistrations pursuant to Section 2, howeveror (2) 90 days after such Registration Statement becomes effective, that in the Company case of registrations pursuant to Section 3, in every case as any such period may discontinue any registration of its securities which are not Registrable Securities at any time prior be extended pursuant to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement subsection (h) or any amendments thereto, the Section 8.
(b) The Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission SEC such amendments (including amendments, post-effective amendments) amendments and supplements to such registration statement Registration Statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement Registration Statement effective and for such period of time required by subsection (a), as such period may be extended pursuant to subsection (h) or Section 8.
(c) The Company will comply in all material respects with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until Registration Statement during the earlier of period during which any such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant Statement is required to Section 3.1, the expiration of 60 days after such registration statement becomes be effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;.
(iiid) The Company will furnish to each Selling any Holder and each underwriter, if any, any underwriter of the securities being sold by such Selling Holder Registrable Securities (1) such number of copies (including manually executed and conformed copies copies) of such registration statement Registration Statement and of each amendment thereof and supplement thereto (in each case including all annexes, appendices, schedules and exhibits), (2) such number of copies of the prospectus contained used in connection with such registration statement Registration Statement (including each preliminary prospectus, any summary prospectus and any summary prospectusthe final prospectus and including prospectus supplements), and (3) and any such number of copies of other prospectus filed under Rule 424 under the Securities Actdocuments, in conformity with each case as the requirements of the Securities Act, and any Issuer Free Writing Prospectus and Holder or such other documents as such Selling Holder and underwriter, if any, underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;request.
(ive) The Company will use commercially reasonable efforts to register or qualify such all Registrable Securities covered by such registration statement Registration Statement under such other the securities laws or "blue sky sky" laws of such jurisdictions states of the United States and any other jurisdiction as any Selling Holder and or any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary requested by such Holder or advisable to enable such Selling Holder and underwriter to consummate the offering and disposition of Registrable Securities in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that jurisdictions; but the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation or as a dealer in securities, subject itself to taxation, or consent to general service of process in any jurisdiction wherein it would is not but for the requirements of this clause (iv) be obligated to be then so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to service of process in any such jurisdiction;subject.
(vf) use The Company will use, as soon as practicable after the effectiveness of the Registration Statement, commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement Registration Statement to be registered with with, or approved by by, such other United States and Cayman Islands public, governmental agencies or authorities regulatory authorities, if any, as may be necessary to enable the Selling Holder(s) thereof to consummate required in connection with the disposition of such Registrable Securities;.
(viig) The Company will use commercially reasonable efforts to list the Registrable Securities covered by such Registration Statement on any securities exchange (or if applicable, the Nasdaq National Market System) on which any securities of the Company are then listed, if the listing of such Registrable Securities is then permitted under the applicable rules of such exchange (or if applicable, the Nasdaq National Market System).
(h) The Company will notify each Holder as promptly as practicable and, if requested by any Holder, confirm such notification in connection with an Underwritten Offeringwriting, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) when a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related theretohas been filed with the SEC, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement and when a Registration Statement or any post-effective amendment theretothereto has been filed with and declared effective by the SEC, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) of the issuance by the Commission SEC of any stop order suspending or the effectiveness coming to its knowledge of the registration statement or the initiation of any proceedings by any Person for that purpose;
, (43) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
, (ix4) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under of the Securities Act, upon discovery that, or upon the happening occurrence of any event as which requires the making of any changes to a result of which, the Registration Statement or related prospectus included in so that such registration statement, as then in effect, includes an documents will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading, and, at misleading (and the request of any Selling Holder, Company shall promptly prepare and furnish to such seller each Holder a reasonable number of copies of a supplement to supplemented or an amendment of amended prospectus such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they are made, not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission), and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day (5) of the Company’s first full quarter after 's determination that the effective date filing of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to a Registration Statement is necessary or appropriate. Upon the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening occurrence of any event of the kind described in Section 3.6(a)(ixclause (4), such Selling Holder the Holders shall forthwith discontinue such Selling Holder’s any offer and disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto Registration Statement covering such Registrable Securities until such Selling Holder’s receipt of the all Holders shall have received copies of the a supplemented or amended prospectus contemplated by Section 3.6(a)(ix) which is no longer defective and, if so directed by the Company, shall deliver to the Company, at the Company’s expense, Company all copies, copies (other than permanent file copies, ) of the defective prospectus covering such Registrable Securities which are then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable SecuritiesHolders' possession. In the event If the Company shall give such noticeprovide any notice of the type referred to in the preceding sentence, any applicable 60-day the period during which such registration statement must remain the Registration Statement is required by subsection (a) to be effective pursuant to this Agreement shall be extended by the number of days during the period from and including the date of giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) is provided, to and including the date when all such Selling the Holders shall receive have received copies of the corrected prospectus.
(i) The Company will enter into such agreements and take such other appropriate actions as are customary and reasonably necessary to expedite or facilitate the disposition of such Registrable Securities (including, without limitation, making its management available to the extent reasonably requested by the Holders to participate in marketing presentations to potential investors in connection with any underwritten offering), and in that regard, will deliver to the Holders such documents and certificates as may be reasonably requested by the Holders of a supplemented majority of the Registrable Securities being sold or, as applicable, the managing underwriters, to evidence the Company's compliance with this Agreement, including, in the case of any underwritten offering, using commercially reasonable efforts to cause its independent accountants to deliver to the managing underwriters an accountants' comfort letter substantially similar to that in scope delivered in an underwritten public offering and covering audited and interim financial statements included in the registration statement, or amended prospectus and if such prospectus shall have been filed letter can not be obtained through the exercise of commercially reasonable efforts, cause its independent accountants to deliver to the managing underwriters a comfort letter based on negotiated procedures providing comfort with respect to the CommissionCompany's financial statements included or incorporated by reference in the registration statement at the highest level permitted to be given by such accountants under the then applicable standards of the American Institute of Certified Public Accountants with respect to such Registration Statement.
Appears in 2 contracts
Samples: Registration Rights Agreement (Scottish Annuity & Life Holdings LTD), Registration Rights Agreement (Scottish Annuity & Life Holdings LTD)
Registration Procedures. (a) If and whenever In connection with the Company is required to use commercially reasonable efforts to effect the Company’s registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2obligations hereunder, the Company shall as promptly as practicable (in each case, to the extent applicable):shall:
(i) prepare Prepare and file with the Commission such amendments, including post-effective amendments, to a registration statement Registration Statement and the Prospectus used in connection therewith as may be necessary to effect such registration, keep a Registration Statement continuously effective as to the applicable Registrable Securities for the Effectiveness Period; (ii) cause such registration statement the related Prospectus to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented or amended, to be filed pursuant to the Securities Act; provided(iii) respond as promptly as reasonably possible to any comments received from the Commission with respect to a Registration Statement or any amendment thereto and provide as promptly as reasonably possible to Investor true and complete copies of all correspondence from and to the Commission relating to a Registration Statement (provided that, however, that the Company may discontinue excise any registration of its securities information contained therein which are not Registrable Securities at any time prior would constitute material non-public information as to the effective date of the registration statement relating theretoInvestor); provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included and (iv) comply in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file material respects with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the applicable provisions of the Securities Act and the Exchange Act of 1934, as amended (the “Exchange Act”) with respect to the disposition of all securities Registrable Securities covered by such registration statement until a Registration Statement during the earlier of such time as all of such securities have been disposed of applicable period in accordance (subject to the terms of this Agreement) with the intended methods of disposition by the seller or sellers thereof Investor set forth in such registration statement Registration Statement as so amended or in such Prospectus as so supplemented.
(ib) in If during the case of Effectiveness Period the Company becomes eligible to file a Demand Registration Statement on Form S-3 under the Securities Act (“Form S-3”), the Company shall promptly convert the Initial Registration Statement and any Additional Registration Statement, as applicable, to a Form S-3.
(c) Notify Investor (which notice shall, pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
clauses (iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
through (vi) hereof, be accompanied by an instruction to suspend the use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities of the Prospectus until the requisite changes have been made) as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
promptly as reasonably possible (vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any (i)(A) below, not less than one (1) Business Day prior to such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letterfiling) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement and (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with Person) confirm such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors notice in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
no later than one (1) Business Day following the filing of the registration statement, the prospectus day (i)(A) when a Prospectus or any prospectus Prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to a Registration Statement is proposed to be filed, (B) when the registration statement andCommission notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments in writing on such Registration Statement, and (C) with respect to the registration statement a Registration Statement or any post-effective amendment theretoamendment, when the same has become effective;
, (2ii) of any request by the Commission or any other federal or state governmental authority for amendments or supplements to the registration statement a Registration Statement or the prospectus or for additional information;
Prospectus, (3iii) of the issuance by the Commission or any other federal or state governmental authority of any stop order “stop-order” suspending the effectiveness of a Registration Statement covering any or all of the registration statement Registrable Securities or the initiation of any proceedings by any Person Proceedings for that purpose;
; (4iv) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction jurisdiction, or the initiation or threat threatening of any proceeding Proceeding for such purpose;
; (ixv) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under of the Securities Act, upon discovery that, or upon the happening occurrence of any event as a result or passage of which, time that makes the prospectus financial statements included in such registration statementa Registration Statement ineligible for inclusion therein or any statement made in a Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to a Registration Statement, Prospectus or other documents so that, in the case of a Registration Statement or the Prospectus, as then in effectthe case may be, includes an it will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading; and (vi) of the occurrence or existence of any pending corporate development with respect to the Company that the Company believes may be material and that, andin the determination of the Company, makes it not in the best interest of the Company to allow continued availability of a Registration Statement or Prospectus, provided that, any and all of such information shall remain confidential to Investor until such information otherwise becomes public, unless disclosure by Investor is required by law; provided, further, that notwithstanding Investor’s agreement to keep such information confidential, Investor makes no acknowledgement that any such information is material, non-public information.
(d) Use its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order stopping or suspending the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the request earliest practicable moment.
(e) Furnish to Investor, without charge, at least one conformed copy of each such Registration Statement and each amendment thereto, including financial statements and schedules, all documents incorporated or deemed to be incorporated therein by reference to the extent requested by such Person, and all exhibits to the extent requested by such Person (including those previously furnished or incorporated by reference) promptly after the filing of such documents with the Commission; provided, that any such item which is available on the XXXXX system (or successor thereto) need not be furnished in physical form.
(f) Subject to the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by Investor in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto, except after the giving of any Selling Holdernotice pursuant to Section 3(c).
(g) The Company shall cooperate with any broker-dealer through which Investor proposes to resell its Registrable Securities in effecting a filing with FINRA, as requested by Investor, and the Company shall pay the filing fee required by such filing within two (2) Business Days of request therefor.
(h) Prior to any resale of Registrable Securities by Investor, use its commercially reasonable efforts to register or qualify or cooperate with Investor in connection with the registration or qualification (or exemption from the Registration or qualification) of such Registrable Securities for the resale by Investor under the securities or Blue Sky laws of such jurisdictions within the United States as Investor reasonably requests in writing, to keep each registration or qualification (or exemption therefrom) effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition in such jurisdictions of the Registrable Securities covered by each Registration Statement; provided, that, the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified, subject the Company to any material tax in any such jurisdiction where it is not then so subject or file a general consent to service of process in any such jurisdiction.
(i) Upon the occurrence of any event contemplated by Section 3(c), as promptly as reasonably possible under the circumstances taking into account the Company’s good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure of such event, prepare and furnish a supplement or amendment, including a post-effective amendment, to such seller a reasonable number of copies of Registration Statement or a supplement to the related Prospectus or an amendment of such prospectus as may any document incorporated or deemed to be necessary incorporated therein by reference, and file any other required document so that, as thereafter delivered to the purchasers of delivered, neither a Registration Statement nor such Registrable Securities, such prospectus shall not include Prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading;. If the Company notifies Investor in accordance with clauses (iii) through (vi) of Section 3(c) above to suspend the use of any Prospectus until the requisite changes to such Prospectus have been made, then Investor shall suspend use of such Prospectus. The Company will use its best efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The Company shall be entitled to exercise its right under this Section 3(i) to suspend the availability of a Registration Statement and Prospectus for a period not to exceed ninety (90) calendar days (which need not be consecutive days) in any twelve (12) month period.
(xj) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply Comply with all applicable rules and regulations of the Commission.
(k) The Company may require Investor to furnish to the Company a certified statement as to the number of shares of Common Stock beneficially owned by Investor and, if required by the Commission, the natural persons thereof that have voting and make available dispositive control over the shares. During any periods that the Company is unable to Selling Holders, as promptly as practicable, an earnings statement covering meet its obligations hereunder with respect to the period registration of at least 12 months, but not more than 18 months, beginning with the first day Registrable Securities solely because Investor fails to furnish such information within three (3) Business Days of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementrequest.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Janus Resources, Inc.), Registration Rights Agreement (New Energy Technologies, Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and (within 60 days after the end of the period within which requests for registration may be given to the Company or in any event as soon thereafter as possible; PROVIDED that, in the case of a registration pursuant to Section 3.1, such filing to be made within 60 days after the initial request of an Initiating Holder of Registrable Securities or in any event as soon thereafter as possible) file with the Commission a the requisite registration statement to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under the rules and regulations of the Commission, Securities Act) and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreementeffective; provided, however, PROVIDED FURTHER that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further PROVIDED FURTHER that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (ix) in the case of a Demand Registration registration pursuant to Section 3.1, the expiration of 60 120 days after such registration statement becomes effective, or (iiy) in the case of a Piggyback Registration registration pursuant to Section 3.2, the expiration of 60 90 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder seller of Registrable Securities covered by such registration statement and each underwriter, if any, of the securities being sold by such Selling Holder seller such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder seller and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable its best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other securities laws or blue sky or similar laws of such jurisdictions as any Selling Holder seller thereof and any underwriter of the securities being sold by such Selling Holder seller shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder seller and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderseller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to general service of process in any such jurisdiction;
(v) use commercially reasonable its best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offering, obtain for furnish to each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting a signed counterpart, addressed to such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder seller and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Aps Healthcare Inc), Warrantholders Rights Agreement (Aps Healthcare Inc)
Registration Procedures. (a) If and whenever In connection with the Company is required to use commercially reasonable efforts to effect the Company's registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2obligations hereunder, the Company shall as promptly as practicable (in each case, to the extent applicable):shall:
(i) prepare Prepare and file with the Commission such amendments, including post-effective amendments, to a registration statement Registration Statement and the Prospectus used in connection therewith as may be necessary to effect such registration, keep a Registration Statement continuously effective as to the applicable Registrable Securities for the Effectiveness Period; (ii) cause such registration statement the related Prospectus to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented or amended, to be filed pursuant to the Securities Act; provided(iii) respond as promptly as reasonably possible to any comments received from the Commission with respect to a Registration Statement or any amendment thereto and provide as promptly as reasonably possible to Investor true and complete copies of all correspondence from and to the Commission relating to a Registration Statement (provided that, however, that the Company may discontinue excise any registration of its securities information contained therein which are not Registrable Securities at any time prior would constitute material non-public information as to the effective date of the registration statement relating theretoInvestor); provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included and (iv) comply in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file material respects with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the applicable provisions of the Securities Act and the Exchange Act of 1934, as amended (the "Exchange Act") with respect to the disposition of all securities Registrable Securities covered by such registration statement until a Registration Statement during the earlier of such time as all of such securities have been disposed of applicable period in accordance (subject to the terms of this Agreement) with the intended methods of disposition by the seller or sellers thereof Investor set forth in such registration statement Registration Statement as so amended or in such Prospectus as so supplemented.
(ib) in If during the case of Effectiveness Period the Company becomes eligible to file a Demand Registration Statement on Form S-3 under the Securities Act (“Form S-3”), the Company shall promptly convert the Initial Registration Statement and any Follow-On Registration Statement, as applicable, to a Form S-3.
(c) Notify each Investor (which notice shall, pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
clauses (iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
through (vi) hereof, be accompanied by an instruction to suspend the use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities of the Prospectus until the requisite changes have been made) as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
promptly as reasonably possible (vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any (i)(A) below, not less than one (1) Business Day prior to such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letterfiling) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement and (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with Person) confirm such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors notice in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
no later than one (1) Business Day following the filing of the registration statement, the prospectus day (i)(A) when a Prospectus or any prospectus Prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to a Registration Statement is proposed to be filed, (B) when the registration statement andCommission notifies the Company whether there will be a "review" of such Registration Statement and whenever the Commission comments in writing on such Registration Statement, and (C) with respect to the registration statement a Registration Statement or any post-effective amendment theretoamendment, when the same has become effective;
, (2ii) of any request by the Commission or any other federal or state governmental authority for amendments or supplements to the registration statement a Registration Statement or the prospectus or for additional information;
Prospectus, (3iii) of the issuance by the Commission or any other federal or state governmental authority of any stop order “stop-order” suspending the effectiveness of a Registration Statement covering any or all of the registration statement Registrable Securities or the initiation of any proceedings by any Person Proceedings for that purpose;
; (4iv) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction jurisdiction, or the initiation or threat threatening of any proceeding Proceeding for such purpose;
; (ixv) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under of the Securities Act, upon discovery that, or upon the happening occurrence of any event as a result or passage of which, time that makes the prospectus financial statements included in such registration statementa Registration Statement ineligible for inclusion therein or any statement made in a Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to a Registration Statement, Prospectus or other documents so that, in the case of a Registration Statement or the Prospectus, as then in effectthe case may be, includes an it will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading; and (vi) of the occurrence or existence of any pending corporate development with respect to the Company that the Company believes may be material and that, andin the determination of the Company, makes it not in the best interest of the Company to allow continued availability of a Registration Statement or Prospectus, provided that, any and all of such information shall remain confidential to Investor until such information otherwise becomes public, unless disclosure by Investor is required by law; provided, further, that notwithstanding Investor's agreement to keep such information confidential, Investor makes no acknowledgement that any such information is material, non-public information.
(d) Use its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order stopping or suspending the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the request earliest practicable moment.
(e) Furnish to each Investor, without charge, at least one conformed copy of each such Registration Statement and each amendment thereto, including financial statements and schedules, all documents incorporated or deemed to be incorporated therein by reference to the extent requested by such Person, and all exhibits to the extent requested by such Person (including those previously furnished or incorporated by reference) promptly after the filing of such documents with the Commission; provided, that any such item which is available on the XXXXX system (or successor thereto) need not be furnished in physical form.
(f) Subject to the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by Investor in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto, except after the giving of any Selling Holdernotice pursuant to Section 3(c).
(g) The Company shall cooperate with any broker-dealer through which an Investor proposes to resell its Registrable Securities in effecting a filing with FINRA, as requested by Investor, and the Company shall pay the filing fee required by such filing within two (2) Business Days of request therefor.
(h) Prior to any resale of Registrable Securities by an Investor, use its commercially reasonable efforts to register or qualify or cooperate with each Investor in connection with the registration or qualification (or exemption from the Registration or qualification) of such Registrable Securities for the resale by an Investor under the securities or Blue Sky laws of such jurisdictions within the United States as an Investor reasonably requests in writing, to keep each registration or qualification (or exemption therefrom) effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition in such jurisdictions of the Registrable Securities covered by each Registration Statement; provided, that, the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified, subject the Company to any material tax in any such jurisdiction where it is not then so subject or file a general consent to service of process in any such jurisdiction.
(i) Upon the occurrence of any event contemplated by Section 3(c), as promptly as reasonably possible under the circumstances taking into account the Company's good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure of such event, prepare and furnish a supplement or amendment, including a post-effective amendment, to such seller a reasonable number of copies of Registration Statement or a supplement to the related Prospectus or an amendment of such prospectus as may any document incorporated or deemed to be necessary incorporated therein by reference, and file any other required document so that, as thereafter delivered to the purchasers of delivered, neither a Registration Statement nor such Registrable Securities, such prospectus shall not include Prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading;. If the Company notifies Investor in accordance with clauses (iii) through (vi) of Section 3(c) above to suspend the use of any Prospectus until the requisite changes to such Prospectus have been made, then Investor shall suspend use of such Prospectus. The Company will use its best efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The Company shall be entitled to exercise its right under this Section 3(i) to suspend the availability of a Registration Statement and Prospectus for a period not to exceed ninety (90) calendar days (which need not be consecutive days) in any twelve (12) month period.
(xj) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply Comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;.
(xiik) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriterInvestor to furnish to the Company a certified statement as to the number of shares of Common Stock beneficially owned by such Investor and, if anyrequired by the Commission, to furnish the natural persons thereof that have voting and dispositive control over the shares. During any periods that the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time is unable to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements meet its obligations hereunder with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership registration of the Registrable Securities being sold solely because Investor fails to furnish such information within three (unless, in 3) Business Days of the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto's request.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Subscription Agreement, Registration Rights Agreement (SolarWindow Technologies, Inc.)
Registration Procedures. (a) If and whenever the Company is required by the provisions of this Agreement to use commercially reasonable efforts to effect the or cause a registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 this Agreement, and 3.2at such times as customarily occur in registered offerings or shelf takedowns, as applicable, the Company shall as promptly as practicable (in each case, to the extent applicable):will:
(ia) Use all commercially reasonable efforts to prepare and file with the Commission SEC, a registration statement to effect such registration, cause such registration statement to become effective at within the earliest possible date permitted under the rules and regulations of the Commissiontime periods specified herein, and thereafter use all commercially reasonable efforts to cause such registration statement to become effective as promptly as practicable and to remain effective under the Securities Act until the earlier of such time as all securities covered thereby are no longer Registrable Securities or twenty-four (24) months after such registration statement becomes effective with respect to registrations pursuant to the terms of this Agreement; providedSection 2(a), however, in every case as any such period may be extended pursuant to Section 5(l) or Article 7 hereto (provided that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the replace a shelf registration statement relating thereto; provided, further that before filing such filed on Form S-1 with a shelf registration statement or any amendments thereto, filed on Form S-3 as and when the Company will furnish becomes eligible to file S-3 registration statements as long as such a shelf registration statement filed on Form S-1 remains effective until such time as the counsel selected by the holders of Registrable Securities which are to be included in such replacement shelf registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessstatement filed on Form S-3 becomes effective);
(iib) prepare Prepare and file with the Commission SEC such amendments (including amendments, post-effective amendments) amendments and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for such period of time required by Section 5(a) above, as such period may be extended pursuant to Section 5(l) or Article 7 hereto;
(c) Within a reasonable time prior to the filing of any registration statement, any prospectus, any amendment to a registration statement, amendment or supplement to a prospectus or any free writing prospectus, provide copies of such documents to the Holders of the Registrable Securities being sold and to comply the underwriter or underwriters of an underwritten offering, if applicable, and to their respective counsel; fairly consider such reasonable changes in any such documents prior to or after the filing thereof as the counsel to the Holders of the Registrable Securities being sold or the underwriter or the underwriters may request; and make such of the representatives of the Company as shall be reasonably requested by the Holders of the Registrable Securities being sold or any underwriter available for discussion of such documents;
(d) Within a reasonable time prior to the filing of any document which is to be incorporated by reference into a registration statement or a prospectus, provide copies of such document to counsel for the Holders and underwriters; fairly consider such reasonable changes in such document prior to or after the filing thereof as counsel for such Holders or such underwriter shall request; and make such of the representatives of the Company as shall be reasonably requested by such counsel available for discussion of such document;
(e) Comply in all material respects with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until during the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in period during which any such registration statement or (i) in the case of a Demand Registration pursuant is required to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes be effective;
(iiif) furnish Furnish to each Selling any Holder and each underwriterany underwriter of Registrable Securities, if any, of the securities being sold by such Selling Holder without charge (i) such number of copies (including manually executed and conformed copies copies) of such registration statement and of each amendment thereof and supplement thereto (in each case including all annexes, appendices, schedules and exhibits), (ii) such number of copies of the prospectus contained prospectus, used in connection with such registration statement (including each preliminary prospectus, any summary prospectus and any summary the final prospectus), and (iii) and any such number of copies of other prospectus filed under Rule 424 under the Securities Actdocuments, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents each case as such Selling Holder and underwriter, if any, or such underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(ivg) use Use all commercially reasonable efforts to register or qualify such all Registrable Securities covered by such registration statement under such other the securities laws or “blue sky sky” laws of such jurisdictions states of the United States as any Selling Holder and or any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary requested by such Holder or advisable to enable such Selling Holder and underwriter to consummate the offering and disposition of Registrable Securities in such jurisdictions of the Registrable Securities owned by such Selling Holderjurisdictions; provided, except however, that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation or as a dealer in securities, subject itself to taxation, or consent to general service of process in any jurisdiction wherein it would is not but for the requirements of this clause (iv) be obligated to be then so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to service of process in any such jurisdictionsubject;
(vh) use Cooperate with the Holders of the Registrable Securities being sold and the sole underwriter or managing underwriter of an underwritten offering shares, if any, to facilitate the timely preparation and delivery of certificates representing the shares to be sold and not bearing any restrictive legends; and enable such shares to be in such denominations (consistent with the provisions of the governing documents thereof) and registered in such names as the Holders of the Registrable Securities being sold or the sole underwriter or managing underwriter of an underwritten offering of shares, if any, may reasonably request at least five (5) days prior to any sale of such shares;
(i) Use all commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with with, or approved by by, such other United States public, governmental agencies or authorities regulatory authorities, if any, as may be necessary to enable the Selling Holder(s) thereof to consummate required in connection with the disposition of such Registrable Securities;
(viij) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for Use all commercially reasonable efforts to list the Company, covering the matters customarily securities covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement on any securities exchange on which any securities of the Company is then listed, if the listing of such Registrable Securities are then permitted under the applicable rules of such exchange;
(k) Use all commercially reasonable efforts to facilitate the distribution and sale of any shares of Common Stock to be offered pursuant to this Agreement, including without limitation by making road show presentations, holding meetings with and making calls to potential investors and taking such other actions as shall be requested by the Holders of the Registrable Securities being sold or the lead managing underwriter of an underwritten offering;
(l) Notify each Holder as promptly as practicable and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any Holder, confirm such Inspector notification in connection with such registration statement; providedwriting, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into when a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related theretohas been filed with the SEC, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the a registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request been declared effective by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
SEC, (3ii) of the issuance by the Commission SEC of any stop order suspending or the effectiveness coming to the Company’s attention of the registration statement or the initiation of any proceedings by any Person for that such or a similar purpose;
, (4iii) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
, (ixiv) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under of the Securities Act, upon discovery that, or upon the happening occurrence of any event as which requires the making of any changes to a result of which, the registration statement or related prospectus included in so that such registration statement, as then in effect, includes an documents will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading, and, at misleading (and the request of any Selling Holder, Company shall promptly prepare and furnish to such seller each Holder a reasonable number of copies of a supplement to supplemented or an amendment of amended prospectus such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they are made, not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission), and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day (v) of the Company’s first full quarter after determination that the effective date filing of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of Registration Statement shall be necessary or appropriate. Upon the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening occurrence of any event of the kind described in clause (iv) or (v) of this Section 3.6(a)(ix5(l), such Selling Holder the Holders shall forthwith discontinue such Selling Holder’s any offer and disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holder’s receipt of the all Holders shall have received copies of the a supplemented or amended prospectus contemplated by Section 3.6(a)(ix) which is no longer defective and, if so directed by the Company, shall deliver to the Company, at the Company’s expense, all copies, copies (other than permanent file copies, ) of the defective prospectus covering such Registrable Securities which are then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable SecuritiesHolders’ possession. In the event If the Company shall give such noticeprovide any notice of the type referred to in the preceding sentence, any applicable 60-day the period during which such the registration statement must remain statements are required to be effective pursuant to this Agreement as set forth under Section 5(a) shall be extended by the number of days during the period from and including the date of giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) is provided, to and including the date when all such Selling Holders shall receive have received copies of the corrected prospectus; and
(m) Enter into such a supplemented agreements and take such other appropriate actions as are customary and reasonably necessary to expedite or amended prospectus facilitate the disposition of such Registrable Securities (including, in the case of an underwritten offering, underwriting agreements in customary form, and such prospectus shall have been filed including provisions with respect to indemnification and contribution in customary form and consistent with the Commissionprovisions relating to indemnification and contribution contained herein), and in that regard, deliver to the Holders such documents and certificates as may be reasonably requested by any Holder of the Registrable Securities being sold or, as applicable, the managing underwriters, to evidence the Company’s compliance with this Agreement including, without limitation, using all commercially reasonable efforts to cause its independent accountants to deliver to the Company (and to the Holders of Registrable Securities being sold in any registration) an accountants’ comfort letter substantially similar to that in scope delivered in an underwritten public offering and covering audited and interim financial statements included in the registration statement or, if such letter can not be obtained through the exercise of all commercially reasonable efforts, cause its independent accountants to deliver to the Company (and to the Holders of Registrable Securities being sold in any registration) a comfort letter based on negotiated procedures providing comfort with respect to the Company’s financial statements included or incorporated by reference in the registration statement at the highest level permitted to be given by such accountants under the then applicable standards of the Association of Independent Certified Accountants with respect to such registration statement. In addition, the Company shall furnish to the Holders of Registrable Securities being included in any registration hereunder an opinion of counsel in substance and scope as are customarily delivered to underwriters in public offerings.
Appears in 2 contracts
Samples: Registration Rights Agreement (MedQuist Holdings Inc.), Registration Rights Agreement (MedQuist Holdings Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially its reasonable best efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Agreement, the Company shall prepare and, as promptly expeditiously as practicable possible (and in any event within ninety (90) days after the end of the period within which a request for registration may be given to the Company pursuant to Section 3 or 4 hereof), file with the SEC a registration statement with respect to such Registrable Securities and use its reasonable best efforts to cause such registration statement to become effective. The Company shall furnish each seller of Registrable Securities and each underwriter with a copy of such registration statement and all amendments thereto and shall supply each such seller of Registrable Securities and each underwriter with copies of any prospectus included therein (including a preliminary prospectus and all amendments and supplements thereto) (each, a “Prospectus”) and such other documents as such seller or underwriter may reasonably request, in each casecase in such quantities as may be reasonably necessary for the purposes of the proposed sale or distribution covered by such registration. The Company shall not be required to maintain a registration statement (other than a Form S-3 Registration Statement filed pursuant to Rule 415 under the Securities Act) effective or to supply copies of a prospectus for a period beyond one hundred eighty (180) days after the effective date of such registration statement and, at the end of such period, the Company may deregister any securities covered by such registration statement not then sold or distributed. In no event shall the Company be required to effect a so-called “shelf registration” of any Common Stock, including pursuant to Rule 415 under the extent applicable):Securities Act, unless the Company is eligible to file such registration on Form S-3 (a “Form S-3 Registration Statement”); provided, however, that in no event shall the Company be required to maintain any Form S-3 Registration Statement effective for a period beyond three (3) years. In addition, in the event the Company prepares and files a registration statement, the Company shall, as expeditiously as possible:
(i) prepare and file with the Commission a registration statement to effect SEC such registrationamendments, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) amendments and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for the relevant time period referenced in the first paragraph of this Section 5; cause the related Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act; and comply with the provisions of the Securities Act, the Exchange Act and the rules and regulations of the SEC thereunder with respect to the disposition of all securities covered by such registration statement until during the earlier of such time as all of such securities have been disposed of applicable period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant supplement to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or Prospectus;
(ii) in promptly notify the case sellers of Registrable Securities and the managing underwriter, (A) when a Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a registration statement or any post- effective amendment, when the same has become effective, (B) of any request by the SEC or any state securities commission for amendments or supplements to a registration statement or related Prospectus or for additional information, (C) of the issuance by the SEC or any state securities commission of any stop order suspending the effectiveness of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveor the initiation of any proceedings for that purpose, (D) of the receipt by the Company of any notification with respect to the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, and (E) of the existence of any fact which results in a registration statement, a Prospectus or any document incorporated therein by reference containing an untrue statement of a material fact or omitting to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(iii) furnish use its reasonable best efforts to each Selling Holder and each underwriter, if any, obtain the withdrawal of any order suspending the securities being sold by such Selling Holder such number of conformed copies effectiveness of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerstatement;
(iv) promptly incorporate in a Prospectus supplement or post-effective amendment such information as the managing underwriter or the sellers holding a majority of the Registrable Securities being registered agree should be included therein relating to the sale of such Registrable Securities, including without limitation information with respect to the amount of Registrable Securities being sold to the underwriters, the public offering price, the purchase price being paid therefor by such underwriters and with respect to any other terms of the underwritten (or best efforts underwritten) offering of the Registrable Securities to be sold in such offering; and make all required filings of such Prospectus supplement or post-effective amendment as soon as notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment;
(v) use commercially its reasonable best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of in such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not where, but for the requirements of this clause (iv) v), it would not be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to general service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers seller of Registrable Securities and the managing underwriter underwriters to facilitate the timely preparation and delivery of certificates (which shall representing Registrable Securities to be sold pursuant to such registration statement and not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statementlegends, and enable such securities Registrable Securities to be in such denominations and registered in such names as the managing underwriter or such sellers underwriters may request and keep available and make available at least two (2) Business Days prior to any sale of Registrable Securities to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriateunderwriters;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xivvii) if requested by any Selling Holders or any underwriterfact described in clause (ii)(E) of this Section 5 exists, promptly incorporate in the registration statement or any prospectus, pursuant to prepare a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” applicable registration statement or the related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchasers of the Registrable SecuritiesSecurities being sold thereunder, such Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading;
(viii) [Reserved];
(ix) use its reasonable best efforts to list such Registrable Securities on any securities exchange on which the Registrable Securities are then listed if such Registrable Securities are not already so listed and if such listing is then permitted under the rules of such exchange;
(x) in the event of an underwritten public offering, enter into an underwriting agreement in usual and customary form with the managing underwriter of such offering;
(xi) in the event of an underwritten public offering, use its reasonable best efforts to furnish to the underwriters and the selling Holders, on the date that such Registrable Securities are delivered to the underwriters for sale, a “cold comfort” letter from the Company’s independent public accounts in form and substance as is customarily given by independent public accountants to underwriters in an underwritten public offering;
(xii) in the event of an underwritten public offering, use its reasonable best efforts to furnish to the underwriters, on the date that such Registrable Securities are delivered to the underwriters for sale, an opinion of counsel for the Company, dated as of such date, in form and substance as is customarily given to underwriters in an underwritten public offering;
(xiii) use its reasonable best efforts to make available the senior executive officers of the Company to participate in customary “road show” presentations that may be reasonably requested by the sellers of a majority of the Registrable Securities being registered and the managing underwriter in any underwritten public offering; provided that the participation of such senior executive officers shall not unreasonably interfere with the conduct of their duties to the Company;
(xiv) provide a CUSIP number for all Registrable Securities included in such registration statement, not later than the effective date of the applicable registration statement; and
(xv) cooperate and assist in with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.Inc.
(b) Without limiting any of the foregoing, in the event that the offering Each Holder of Registrable Securities is to be made by or through an underwriteragrees that, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening existence of any event fact of the kind described in clause (ii)(E) of this Section 3.6(a)(ix)5, such Selling Holder shall will forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus Prospectus contemplated by clause (vii) of this Section 3.6(a)(ix) 5 and, if so directed by the Company, such Holder shall deliver to the Company, Company (at the Company’s expense, ) all copies, other than permanent file copies, then in such Selling Holder’s possession copies of the prospectus Prospectus covering such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securitiesnotice. In the event the Company shall give any such notice, any applicable 60-the one hundred eighty (180) day period during which such registration statement must remain effective pursuant to mentioned in the first paragraph of this Agreement Section 5 shall be extended by the number of days during the period from and including the date of the giving of a such notice regarding the happening pursuant to clause (ii)(E) of an event of the kind described in this Section 3.6(a)(ix) 5 to and including the date when all each seller of Registrable Securities covered by such Selling Holders registration statement shall receive such a have received the copies of the supplemented or amended prospectus Prospectus contemplated by clause (vii) of this Section 5.
(c) In connection with the preparation and filing of each registration statement registering Registrable Securities under the Securities Act pursuant to Sections 3 or 4, the Company shall give the underwriters, if any, to the extent that any selling Holders have the benefit of a due diligence defense, such selling Holders, and their respective counsel and accountants, such reasonable and customary access to its books, records and properties and such prospectus opportunities to discuss the business and affairs of the Company with its officers and the independent public accountants who have certified the financial statements of the Company as shall have been filed be necessary, in the opinion of such underwriters or selling Holders, as the case may be, or their respective counsel, to conduct a reasonable investigation within the meaning of the Securities Act; provided that the underwriters, such selling Holders, and their respective counsel and accountants shall use their reasonable best efforts to coordinate any such investigations of the books, records and properties of the Company and any such discussions with the CommissionCompany’s officers and accountants so that all such investigations occur at the same time and all such discussions occur at the same time.
Appears in 2 contracts
Samples: Registration Rights Agreement (Spirit Realty Capital, Inc.), Registration Rights Agreement (Spirit Realty Capital, Inc.)
Registration Procedures. (a) If and whenever the Company is required by the provisions of this Agreement to use all commercially reasonable efforts to effect the or cause a registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 this Agreement and 3.2at such times as customarily occur in registered offerings or shelf takedowns, as applicable, the Company shall as promptly as practicable (in each case, to the extent applicable):will:
(ia) Use all commercially reasonable efforts to prepare and file with the Commission SEC, a registration statement to effect such registration, cause such registration statement to become effective at within the earliest possible date permitted under the rules and regulations of the Commissiontime periods specified herein, and thereafter use its commercially reasonable efforts to cause such registration statement to become effective as promptly as practicable and to remain effective under the Securities Act until the earlier of such time as all securities covered thereby are no longer Registrable Securities or twenty-four (24) months after such registration statement becomes effective with respect to registrations pursuant to the terms of this Agreement; providedSection 2(a), however, in every case as any such period may be extended pursuant to Section 5(h) or Article 7 hereto (provided that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the replace a shelf registration statement relating thereto; provided, further that before filing such filed on Form S-1 with a shelf registration statement or any amendments thereto, filed on Form S-3 as and when the Company will furnish becomes eligible to file S-3 registration statements as long as such a shelf registration statement filed on Form S-1 remains effective until such time as the counsel selected by the holders of Registrable Securities which are to be included in such replacement shelf registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessstatement filed on Form S-3 becomes effective);
(iib) prepare Prepare and file with the Commission SEC such amendments (including amendments, post-effective amendments) amendments and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for such period of time required by Section 5(a) above, as such period may be extended pursuant to Section 5(h) or Article 7 hereto;
(c) Within a reasonable time prior to the filing of any registration statement, any prospectus, any amendment to a registration statement, amendment or supplement to a prospectus or any free writing prospectus, provide copies of such documents to the Holders of the Registrable Securities being sold and to comply the underwriter or underwriters of an underwritten offering, if applicable, and to their respective counsel; fairly consider such reasonable changes in any such documents prior to or after the filing thereof as the counsel to the Holders of the Registrable Securities being sold or the underwriter or the underwriters may request; and make such of the representatives of the Company as shall be reasonably requested by the Holders of the Registrable Securities being sold or any underwriter available for discussion of such documents;
(d) Within a reasonable time prior to the filing of any document which is to be incorporated by reference into a registration statement or a prospectus, provide copies of such document to counsel for the Holders and underwriters; fairly consider such reasonable changes in such document prior to or after the filing thereof as counsel for such Holders or such underwriter shall request; and make such of the representatives of the Company as shall be reasonably requested by such counsel available for discussion of such document;
(e) Comply in all material respects with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until during the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in period during which any such registration statement or (i) in the case of a Demand Registration pursuant is required to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes be effective;
(iiif) furnish Furnish to each Selling any Holder and each underwriterany underwriter of Registrable Securities, if any, of the securities being sold by such Selling Holder (i) such number of copies (including manually executed and conformed copies copies) of such registration statement and of each amendment thereof and supplement thereto (in each case including all annexes, appendices, schedules and exhibits), (ii) such number of copies of the prospectus contained prospectus, used in connection with such registration statement (including each preliminary prospectus, any summary prospectus and any summary the final prospectus), and (iii) and any such number of copies of other prospectus filed under Rule 424 under the Securities Actdocuments, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents each case as such Selling Holder and underwriter, if any, or such underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(ivg) use Use all commercially reasonable efforts to register or qualify such all Registrable Securities covered by such registration statement under such other the securities laws or “blue sky sky” laws of such jurisdictions states of the United States as any Selling Holder and or any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary requested by such Holder or advisable to enable such Selling Holder and underwriter to consummate the offering and disposition of Registrable Securities in such jurisdictions of the Registrable Securities owned by such Selling Holderjurisdictions; provided, except however, that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation or as a dealer in securities, subject itself to taxation, or consent to general service of process in any jurisdiction wherein it would is not but for the requirements of this clause (iv) be obligated to be then so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to service of process in any such jurisdictionsubject;
(vh) use Cooperate with the Holders of the Registrable Securities being sold and the sole underwriter or managing underwriter of an underwritten offering shares, if any, to facilitate the timely preparation and delivery of certificates representing the shares to be sold and not bearing any restrictive legends; and enable such shares to be in such denominations (consistent with the provisions of the governing documents thereof) and registered in such names as the Holders of the Registrable Securities being sold or the sole underwriter or managing underwriter of an underwritten offering of shares, if any, may reasonably request at least five days prior to any sale of such shares;
(i) Use, as soon as practicable after the effectiveness of the registration statement, commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with with, or approved by by, such other United States public, governmental agencies or authorities regulatory authorities, if any, as may be necessary to enable the Selling Holder(s) thereof to consummate required in connection with the disposition of such Registrable Securities;
(viij) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for Use its commercially reasonable best efforts to list the Company, covering the matters customarily securities covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement on any securities exchange on which any securities of the Company is then listed, if the listing of such Registrable Securities are then permitted under the applicable rules of such exchange;
(k) Use all reasonable efforts to facilitate the distribution and sale of any shares of Common Stock to be offered pursuant to this Agreement, including without limitation by making road show presentations, holding meetings with and making calls to potential investors and taking such other actions as shall be requested by the Holders of the Registrable Securities being sold or the lead managing underwriter of an underwritten offering;
(l) Notify each Holder as promptly as practicable and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any Holder, confirm such Inspector notification in connection with such registration statement; providedwriting, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into when a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related theretohas been filed with the SEC, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the a registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request been declared effective by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
SEC, (3ii) of the issuance by the Commission SEC of any stop order suspending or the effectiveness coming to the Company’s attention of the registration statement or the initiation of any proceedings by any Person for that such or a similar purpose;
, (4iii) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
, (ixiv) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under of the Securities Act, upon discovery that, or upon the happening occurrence of any event as which requires the making of any changes to a result of which, the registration statement or related prospectus included in so that such registration statement, as then in effect, includes an documents will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading, and, at misleading (and the request of any Selling Holder, Company shall promptly prepare and furnish to such seller each Holder a reasonable number of copies of a supplement to supplemented or an amendment of amended prospectus such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they are made, not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission), and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day (v) of the Company’s first full quarter after determination that the effective date filing of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of Registration Statement shall be necessary or appropriate. Upon the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening occurrence of any event of the kind described in clause (iv) or (v) of this Section 3.6(a)(ix5(l), such Selling Holder the Holders shall forthwith discontinue such Selling Holder’s any offer and disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holder’s receipt of the all Holders shall have received copies of the a supplemented or amended prospectus contemplated by Section 3.6(a)(ix) which is no longer defective and, if so directed by the Company, shall deliver to the Company, at the Company’s expense, all copies, copies (other than permanent file copies, ) of the defective prospectus covering such Registrable Securities which are then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable SecuritiesHolders’ possession. In the event If the Company shall give such noticeprovide any notice of the type referred to in the preceding sentence, any applicable 60-day the period during which such the registration statement must remain statements are required to be effective pursuant to this Agreement as set forth under Section 5(a) shall be extended by the number of days during the period from and including the date of giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) is provided, to and including the date when all such Selling Holders shall receive have received copies of the corrected prospectus; and
(m) Enter into such a supplemented agreements and take such other appropriate actions as are customary and reasonably necessary to expedite or amended prospectus facilitate the disposition of such Registrable Securities (including, in the case of an underwritten offering, underwriting agreements in customary form, and such prospectus shall have been filed including provisions with respect to indemnification and contribution in customary form and consistent with the Commissionprovisions relating to indemnification and contribution contained herein), and in that regard, deliver to the Holders such documents and certificates as may be reasonably requested by any Holder of the Registrable Securities being sold or, as applicable, the managing underwriters, to evidence the Company’s compliance with this Agreement including, without limitation, using all commercially reasonable efforts to cause its independent accountants to deliver to the Company (and to the Holders of Registrable Securities being sold in any registration) an accountants’ comfort letter substantially similar to that in scope delivered in an underwritten public offering and covering audited and interim financial statements included in the registration statement or, if such letter can not be obtained through the exercise of all commercially reasonable efforts, cause its independent accountants to deliver to the Company (and to the Holders of Registrable Securities being sold in any registration) a comfort letter based on negotiated procedures providing comfort with respect to the Company’s financial statements included or incorporated by reference in the registration statement at the highest level permitted to be given by such accountants under the then applicable standards of the Association of Independent Certified Accountants with respect to such registration statement. In addition, the Company shall furnish to the Holders of Registrable Securities being included in any registration hereunder an opinion of counsel in substance and scope to that customarily delivered to underwriters in public offerings.
Appears in 2 contracts
Samples: Registration Rights Agreement (Graham Packaging Co Inc.), Registration Rights Agreement (Graham Packaging Co Inc.)
Registration Procedures. (a) If and whenever the Company is required to file a registration statement with respect to, or to use commercially reasonable its best efforts to effect or cause the registration of of, any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Agreement, the Company shall will as promptly expeditiously as practicable possible:
(a) prepare and, in each case, any event within ninety (90) days after a request for registration is given to the extent applicable):
(i) prepare and Company pursuant to Section 2.2, file with the Commission SEC a registration statement on an appropriate form with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules Registrable Securities and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to remain effective pursuant to the terms of this Agreementbecome effective; provided, however, that the Company may discontinue any registration of Securities which it has initiated for its securities which are not Registrable Securities own account at any time prior to the effective date of the registration statement relating theretothereto (and, in such event, the Company shall pay the Registration Expenses incurred in connection therewith); and provided, further further, that before filing such a registration statement or prospectus, or any amendments or supplements thereto, the Company will (i) furnish to counsel for the counsel selected by the holders sellers of Registrable Securities which are to be included in covered by such registration (“Selling Holders”) statement copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, (ii) fairly consider such reasonable changes in any such documents prior to or after the filing thereof as the counsel to the sellers of Registrable Securities being sold may request, and (iii) make such review to of the representatives of the Company as shall be conducted with reasonable promptnessreasonably requested by the sellers of the Registrable Securities being sold available for discussion of such documents;
(iib) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for a period not in excess of two (2) years (which period shall not be applicable in the case of a shelf registration effected pursuant to a request under Section 2.2(b)) and to comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all securities Securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement; provided that before filing a registration statement or prospectus, or any amendments or supplements thereto, the Company will (i) in furnish to counsel for the case sellers of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after Registrable Securities covered by such registration statement becomes effectivecopies of all documents proposed to be filed, or which documents will be subject to the review of such counsel, (ii) fairly consider such reasonable changes in any such documents prior to or after the case filing thereof as the counsel to the sellers of a Piggyback Registration pursuant to Section 3.2Registrable Securities being sold may request, and (iii) make such of the expiration representatives of 60 days after the Company as shall be reasonably requested by the sellers of the Registrable Securities being sold available for discussion of such registration statement becomes effectivedocuments;
(iiic) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by such Selling Holder Registrable Securities such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibitsexhibits filed therewith, including any documents incorporated by reference), such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivd) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of in such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdictionseller;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable its best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;
(viif) in connection with an Underwritten Offering, obtain for notify each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case seller of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed Registrable Securities covered by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, Company’s becoming aware that the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holdersuch seller, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to an amended or an amendment of such supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xig) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits Security holders, as promptly soon as practicable, an earnings statement covering the period of at least 12 months, reasonably practicable (but not more than 18 eighteen (18) months, beginning with the first day of the Company’s first full quarter ) after the effective date of such the registration statement, which an earnings statement which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderAct;
(xiih) (1) use its best efforts to list such Registrable Securities on any securities exchange on which other Securities of the Company are then listed if such Registrable Securities are not already so listed and if such listing is then permitted under the rules of such exchange; and (2) use its best efforts to provide a transfer agent and registrar for such Registrable Securities covered by such registration statement not later than the effective date of such registration statement;
(i) enter into such customary agreements (including an underwriting agreement in customary form), which may include indemnification provisions in favor of underwriters and other Persons in addition to, or in substitution for the indemnification provisions hereof, and take such other actions as sellers of a majority of such Registrable Securities or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities;
(j) obtain a “cold comfort” letter or letters from the Company’s independent public accountants in customary form and covering matters of the type customarily covered by “cold comfort” letters as the seller or sellers of a majority of such Registrable Securities shall reasonably request;
(k) make available for inspection by any seller of such Registrable Securities covered by such registration statement, by any underwriter participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by any such seller or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement;
(l) notify counsel for the holders of Registrable Securities included in such registration statement and the managing underwriter or agent, immediately, and confirm the notice in writing: (i) when the registration statement, or any post-effective amendment to the registration statement, shall have become effective, or any supplement to the prospectus or any amendment to any prospectus shall have been filed; (ii) of the receipt of any comments from the SEC; (iii) of any request of the SEC to amend the registration statement or amend or supplement the prospectus or for additional information; and (iv) of the issuance by the SEC of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus, or of the suspension of the qualification of the registration statement for offering or sale in any jurisdiction, or of the institution or threatening of any proceedings for any of such purposes;
(m) provide each holder of Registrable Securities included in such registration statement reasonable opportunity to comment on the registration statement, any post-effective amendments to the registration statement, any supplement to the prospectus or any amendment to any prospectus;
(n) make every reasonable effort to prevent the issuance of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus and, if any such order is issued, to obtain the withdrawal of any such order at the earliest possible moment;
(o) if requested by the managing underwriter or agent or any holder of Registrable Securities covered by the registration statement, promptly incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or agent or such holder reasonably requests to be included therein, including, with respect to the number of Registrable Securities being sold by such holder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent and with respect to any other terms of the underwritten offering of the Registrable Securities to be sold in such offering; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or post-effective amendment;
(p) cooperate with the sellers holders of Registrable Securities covered by the registration statement and the managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, legends) representing securities Securities to be sold under any the registration statement, and enable such securities Securities to be in such denominations and registered in such names as the managing underwriter or such sellers agent, if any, or the Holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriaterequest;
(xiiiq) have appropriate use its best efforts to make available the executive officers of the Company prepare to participate with the holders of Registrable Securities and make presentations at any underwriters in any “road shows” and before analysts and rating agencies, as the case that may be, and otherwise use its reasonable best efforts to cooperate as be reasonably requested by the Selling Holders and the underwriters holders in the offering, marketing or selling connection with distribution of the Registrable Securities;
(xivr) if requested by any Selling Holders obtain for delivery to the holders of Registrable Securities being registered and to the underwriter or any underwriteragent an opinion or opinions from counsel for the Company in customary form and in form, promptly incorporate substance and scope reasonably satisfactory to such holders, underwriters or agents and their counsel; and
(s) cooperate with each seller of Registrable Securities and each underwriter or agent participating in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, disposition of such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate Securities and assist their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Pinnacle Foods Inc.), Registration Rights Agreement (Pinnacle Foods Inc.)
Registration Procedures. (a) If and whenever Whenever the Holder has requested that any Registrable Securities be registered pursuant to this Agreement, the Company is required to shall use commercially reasonable efforts to effect the registration and the sale of any such Registrable Securities under in accordance with the Securities Act as provided in Sections 3.1 Holder’s intended method of disposition thereof, and 3.2, pursuant thereto the Company shall as promptly as practicable (in each case, to the extent applicable):shall:
(i) (A) prepare and file with the Commission SEC a registration statement Registration Statement with respect to effect such registrationRegistrable Securities as soon as reasonably practicable, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commissionbut in any event within thirty (30) days, if a Short-Form Registration, and thereafter ninety (90) days, if a Long-Form Registration, following the date of a demand for registration pursuant to Section 1(a) or Section 1(b), as applicable, and (B) use commercially reasonable efforts to cause such registration statement Registration Statement (1) to remain become effective pursuant to as soon as practicable, and in any event within thirty (30) days, if the terms of this Agreement; providedSEC indicates it will not review the Registration Statement, howeverand ninety (90) days, that if the SEC indicates it will review the Registration Statement (provided that, in the event the SEC indicates it will review such Registration Statement and the SEC’s response in connection with such review is not received by the Company may discontinue any registration within thirty (30) days of its securities which are not Registrable Securities at any time prior to filing such Registration Statement, such ninety (90) day period shall be tolled until such SEC response is received by the effective Company), following the date of the registration statement relating thereto; provided, further filing such Registration Statement (provided that before filing such registration statement a Registration Statement or prospectus or any amendments or supplements thereto, the Company will shall furnish to the one counsel selected by Holders of a majority of the holders of Registrable Securities which are proposed to be included in such registration (“Selling Holders”) therein copies of all such documents proposed to be filed, which documents will shall be subject to the review and comment of such counsel) and (2) to remain effective and in compliance with the provisions of the Securities Act for a period of not less than one hundred eighty (180) days in order to permit the disposition of all Registrable Securities (and any other securities, and if applicable) covered by such review to be conducted Registration Statement during such period in accordance with reasonable promptnessthe intended method(s) of distribution set forth in such Registration Statement or until such securities have been withdrawn;
(ii) respond to written comments received from the SEC upon a review of any Registration Statement in a timely manner;
(iii) promptly notify each Holder of the effectiveness of each Registration Statement filed hereunder; by 9:30 a.m. (New York time) on the Business Day following such effectiveness, file with the SEC in accordance with Rule 424 under the Securities Act the final prospectus to be used in connection with sales pursuant to such Registration Statement; and prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement Registration Statement and the prospectus used in connection therewith therewith, and any Exchange Act reports incorporated by reference therein otherwise take such actions, as may be necessary to keep such registration statement Registration Statement effective until the earlier of (A) the date as of which each Holder may sell all of the Registrable Securities covered by such Registration Statement pursuant to Rule 144 under the Securities Act without limitation, restriction or condition thereunder, and to (B) the date on which all of such Registrable Securities have been disposed of by each Holder, and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of Registration Statement during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveStatement;
(iiiiv) promptly furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of such Registration Statement, each amendment and supplement thereto, the prospectus contained included in such registration statement Registration Statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, the Holders may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellereach Holder;
(ivv) if applicable, use commercially reasonable efforts to register or qualify such Registrable Securities the shares covered by such registration statement Registration Statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling each Holder shall reasonably request, request and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling each Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except Holder (provided that the Company shall not for any such purpose be required to (A) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause subparagraph, (ivB) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general (C) consent to general service of process in any such jurisdiction);
(vvi) notify each Holder at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such Registration Statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, as expeditiously as possible following the happening of such event, prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading;
(vii) without limiting any obligations of the Company under the Purchase Agreement, use its commercially reasonable efforts to (A) cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed andlisted, if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange or (B) if such listing is not then permitted, or no such similar securities issued by the Company are then so listed, secure a designation and quotation of all of the Registrable Securities covered by each Registration Statement on the OTC Bulletin Board;
(viii) provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of such Registration Statement;
(ix) enter into such customary agreements (including underwriting agreements in customary form) and take all such other actions as the Holders or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (including effecting a stock split or a combination of shares);
(x) make available for inspection by any underwriter participating in any disposition pursuant to such Registration Statement and any attorney, accountant or other agent retained by any such seller or underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors, employees and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such Registration Statement;
(xi) otherwise use commercially reasonable efforts to cause such Registrable comply with all applicable rules and regulations of the SEC, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities to Act and Rule 158 thereunder, and which requirement will be listed deemed satisfied if the Company timely files complete and accurate information on Forms 10-Q and 10-K and Current Reports on Form 8-K under the New York Stock Exchange or Act and otherwise complies with Rule 158 under the Nasdaq Stock MarketSecurities Act;
(vixii) in the event of the issuance of any stop order suspending the effectiveness of a Registration Statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any Common Stock included in such Registration Statement for sale in any jurisdiction, promptly notify each Holder and use commercially reasonable efforts to promptly obtain the withdrawal of such order;
(xiii) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) Holders thereof to consummate the disposition of such Registrable Securities;
(viixiv) permit any Holder who, in connection with the reasonable judgment of the Company upon the advice of counsel, might be deemed to be an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion underwriter or controlling person of counsel for the Company, and, if applicable, any underwriter, a cold comfort letter from the Company’s independent public accountants in customary form and covering such matters of the matters type customarily covered by cold comfort letters as the Holders of a majority of the Registrable Securities being sold reasonably request (provided that such Registrable Securities constitute at least ten percent (10%) of the securities covered by such Registration Statement); and
(xv) cooperate with each Holder and any broker or dealer through which any such Holder proposes to sell its Registrable Securities in opinions requested in underwritten offerings and such other matters effecting a filing with FINRA pursuant to FINRA Rule 5110 as may be reasonably requested by such Selling Holder and underwriters, andHolder.
(2b) a “comfort” letter (or, in the case of Each Holder that requested that any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent Registrable Securities be registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of pursuant to this Agreement shall deliver to the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such requisite information with respect to (i) or (ii) such holder of itself and its Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to as the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any may reasonably request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained inclusion in the registration statement; and
Registration Statement (5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, and the prospectus included therein) in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holders, as that it will promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of notify the Company prepare and make presentations at of any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters material changes in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate information set forth in the registration statement Registration Statement furnished by or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to regarding the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution its plan of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect theretodistribution.
(c) Each Selling Holder agrees that upon The Holders shall not effect sales of the shares covered by the Registration Statement (i) prior to the withdrawal of any stop order suspending the effectiveness of the Registration Statement, or of any order suspending or preventing the use of any related prospectus or suspending the registration or qualification of any Registrable Securities included in the Registration Statement for sale in any jurisdiction where such shares had previously been registered or qualified or (ii) after receipt of any facsimile or other written notice from the Company of instructing such Holders to suspend sales to permit the happening of any event of Company to correct or update the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and Registration Statement or prospectus relating thereto until such Selling Holder’s receipt of the Holder receives copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus that corrects the misstatement(s) or omission(s) referred to above and receives notice that any required post-effective amendment has become effective. Such Holder agrees that it will immediately discontinue offers and sales of Registrable Securities under the Registration Statement until such Holder receives copies of a supplemented or amended prospectus that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become effective.
(d) Notwithstanding anything herein to the contrary, the Company shall have been filed the right to suspend the use of a Registration Statement for a period of not greater than forty-five (45) consecutive days and for not more than ninety (90) days in any twelve (12) month period in connection with each Demand Registration (a “Blackout Period”), if, in the Commissiongood faith opinion of the Board of Directors of the Company, after consultation with counsel, material, nonpublic information exists, including without limitation the proposed acquisition or divestiture of assets by the Company, a strategic alliance or a financing transaction involving the Company or the existence of pending material corporate developments, the public disclosure of which would be necessary to cause the Registration Statement to be materially true and to contain no material misstatements or omissions, and in each such case, where, in the good faith opinion of the Board of Directors, such disclosure would be reasonably likely to have a Material Adverse Effect (as defined in the Securities Purchase Agreement) on the Company or on the proposed transaction. The Company shall give the Holders prompt written notice of the commencement of any Blackout Period. Upon the conclusion of any Blackout Period, the Company shall provide the Holders prompt written notice that the Registration Statement is again available for use.
Appears in 2 contracts
Samples: Registration Rights Agreement (Coliseum Capital Management, LLC), Registration Rights Agreement (Universal Technical Institute Inc)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities 1933 Act as provided in Sections 3.1 and 3.2Section 2.2 and, as applicable, 2.3, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a registration statement SEC the Registration Statement, or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under 1933 Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the SEC, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.2); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any Initial or Subsequent Registration Statement, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement Registration Statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities 1933 Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of thirty six (36) months after the date of this Agreement (subject to the right of the Company to suspend the effectiveness thereof for an Excusable Reason (each a “Black-Out Period”)) or such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or “Registration Maintenance Period”). The Company shall notify the Investors within twenty four (ii24) in the case of a Piggyback Registration pursuant hours prior to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveany Black-Out Period;
(iii) furnish to each Selling Holder and each underwriter, if any, holder of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities 1933 Act, in conformity with the requirements of the Securities 1933 Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder holder of Registrable Securities and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerholder of Registrable Securities;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other U.S. federal or state securities laws or U.S. state blue sky laws of such jurisdictions as any Selling Holder and any underwriter U.S. holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder of Registrable Securities to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderholder of Registrable Securities, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) U.S. holder of Registrable Securities thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offeringfurnish to each holder of Registrable Securities who requests, obtain for each Selling Holder a signed counterpart, addressed to such holder of Registrable Securities, and underwriter:
(1) the underwriters, if any, of an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), such opinion to be in opinions requested in underwritten offerings and such other matters the form filed as may be reasonably requested by such Selling Holder and underwritersExhibit 5 to the registration statement, and
(2vii) a “comfort” letter (or, notify the Investors and their counsel promptly and confirm such advice in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) writing promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following eventsknowledge thereof:
(1a) when the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment thereto, when the same has become effective;
(2b) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3c) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5d) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling Holderholder of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities 1933 Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such holder of Registrable Securities promptly prepare and furnish to such seller holder of Registrable Securities a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xix) make every use its commercially reasonable effort best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities 1933 Act and Rule 158 thereunder;
(xi) enter into such agreements and take such other actions as the Investors shall reasonably request in writing (at the expense of the requesting or benefiting Investors) in order to expedite or facilitate the disposition of such Registrable Securities; and
(xii) cooperate with the sellers and the managing underwriter use its commercially reasonable best efforts to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of list all Registrable Securities covered by such registration statement a supply on any securities exchange on which any of such certificates as necessary or appropriate;the Registrable Securities are then listed.
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, holder of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such holder of Registrable Securities and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend in writing. In this connection, the Investors shall:
(a) furnish the information required as to any shares of Common Stock or other securities of the Company owned by the holder, the holder’s proposed plan of distribution, any relationship between the holder and the Company and any other information which the Company reasonably requests in connection with the preparation of the registration statement and update such registration statement.information immediately upon the occurrence of any events or condition which make the information concerning the Seller inaccurate in any material respect;
(b) Without limiting not sell any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement except in the manner set forth in the Registration Statement;
(c) comply with the prospectus delivery requirements and prospectus relating thereto until such Selling Holder’s receipt the provisions of Regulation M of the copies of SEC pursuant to the supplemented 1933 Act to the extent that such regulation is applicable to the holder;
(d) not sell or amended prospectus contemplated by Section 3.6(a)(ix) and, otherwise transfer or distribute any Registrable Securities if so directed by the holder possesses any material nonpublic information concerning the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Achievers Magazine Inc), Registration Rights Agreement (Capital Solutions I, Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 4.1, 4.2 and 3.24.3, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which that are not Registrable Securities at any time prior to the effective date of the registration statement relating theretoto such securities; provided, further further, that before filing such registration statement or any amendments or supplements thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which that are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of and comment by such counsel, counsel (it being understood that counsel to the Selling Holders will conduct its review and such review to be conducted with reasonable promptnessprovide any comments promptly);
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof Selling Holder(s) set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.14.1, the expiration of 60 days after such registration statement becomes effective, effective or (ii) in the case of a Piggyback Registration pursuant to Section 3.24.2, the expiration of 60 days after such registration statement becomes effectiveeffective or (iii) in the case of a Shelf Registration pursuant to Section 4.3, the Shelf Registration Effectiveness Period;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, Act in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange NYSE or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72AU Section 634 of the AICPA Professional Standards, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3viii) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viiiix) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement statement, and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixx) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(xxi) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xixii) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xiixiii) use its reasonable best efforts to assist Shareholders who made a request to the Company to provide for a third party “market maker” for the Common Shares; provided, however, that the Company shall not be required to serve as such “market maker”;
(xiv) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiiixv) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, take other actions to obtain ratings for any Registrable Securities (if they are eligible to be rated) and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xivxvi) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xvxvii) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) FINRA and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvixviii) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock shares in underwriting agreements with respect to offerings of common stock shares for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix4.5(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix4.5(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-60 day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix4.5(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Shareholder Agreement (SeaCube Container Leasing Ltd.), Shareholder Agreement (SeaCube Container Leasing Ltd.)
Registration Procedures. (a) If and whenever the Company is required pursuant to use commercially reasonable efforts this Agreement to effect the registration of any of the Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Act, the Company shall will, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare and file with the Commission a Registration Statement, on a form available to the Company, with respect to such securities (which filing shall be made (i) as promptly as possible (but in no event later than 30 days after the receipt by the Company of a Request Notice) in the case of a shelf registration statement if the Company is then eligible to effect such registrationfile a Registration Statement on Form S-3 or (ii) as promptly as possible (but in no event later than 60 days after the receipt by the Company of a Request Notice) in the case of any underwritten offering or if the Company is not eligible to file a Registration Statement on Form S-3, cause such registration statement provided that in no event will the Company be obligated to become effective at file a Registration Statement pursuant to (i) or (ii) prior to the earliest possible date permitted under Funding Date pursuant to the rules and regulations of the Commission, and Securities Purchase Agreement. The Company shall thereafter use commercially reasonable best efforts to cause such registration statement Registration Statement to become and remain effective pursuant to for the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date period of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are distribution in order for it to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessCounted;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement Registration Statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement Registration Statement effective for the distribution period to be Counted and as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of Registration Statement in accordance with the Holders intended methods method of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivedisposition;
(iiic) furnish to each Selling Holder and to each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), underwriter such number of copies of the Registration Statement and the prospectus contained in such registration statement included therein (including each preliminary prospectus and any summary prospectus) each document incorporated by reference therein to the extent then required by the rules and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements regulations of the Securities Act, and any Issuer Free Writing Prospectus and such other documents Commission) as such Selling Holder and underwriter, if any, Persons may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned covered by such sellerRegistration Statement;
(ivd) if applicable, use commercially reasonable best efforts to register or qualify such the Registrable Securities covered by such registration statement Registration Statement under such other the securities laws or blue sky laws of such jurisdictions as any the Selling Holder and any underwriter Holders or, in the case of an underwritten public offering, the securities being sold by such Selling Holder managing underwriter, shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except provided that the Company shall will not for any such purpose be required to qualify generally to do transact business as a foreign corporation in any jurisdiction wherein where it would is not but for the requirements of this clause (iv) be obligated then required to be so qualified, to subject itself to taxation in any such jurisdiction qualify or to file a take any action that would subject it to general consent to service of process in any such jurisdictionjurisdiction where it is not then so subject;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for immediately notify each Selling Holder and each underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, which the prospectus included contained in such registration statementRegistration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at misleading in the request light of any Selling Holder, the circumstances then existing and as promptly prepare and furnish to such seller a reasonable number of copies of a as practicable amend or supplement to the prospectus or an amendment of such take other appropriate action so that the prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall does not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xf) make every reasonable effort in the case of an underwritten public offering, furnish upon request, (i) on the date that Registrable Securities are delivered to obtain the withdrawal underwriters for sale pursuant to such Registration Statement, an opinion of any counsel for the Company dated as of such date and addressed to the underwriters and to the Selling Holders, stating that such Registration Statement has become effective under the Securities Act and that (A) to the best knowledge of such counsel, no stop order suspending the effectiveness of such registration statement;
thereof has been issued and no proceedings for that purpose have been instituted or are pending or contemplated under the Securities Act, (xiB) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the CommissionRegistration Statement, the related prospectus, and make available each amendment or supplement thereof, comply as to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning form in all material respects with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) requirements of the Securities Act and Rule 158 the applicable rules and regulations thereunder of the Commission (except that such counsel need express no opinion as to the financial statements, or any expertized schedule, report or information contained or incorporated therein) and (C) to such other effects as may reasonably be requested by counsel for the underwriters, and (ii) on the effective date of the Registration Statement and on the date that Registrable Securities are delivered to the underwriters for sale pursuant to such Registration Statement, a letter dated such dates from the independent accountants retained by the Company, addressed to the underwriters and, if available, to the Selling Holders, stating that they are independent public accountants within the meaning of the Securities Act and that, in the opinion of such accountants, the financial statements of the Company and the schedules thereto that are included or incorporated by reference in the Registration Statement or the prospectus, or any amendment or supplement thereof, comply as to form in all material respects with the applicable requirements of the Securities Act and the published rules and regulations thereunder, and such letter shall additionally address such other financial matters (including information as to the period ending no more than five business days prior to the date of such letter) included in the Registration Statement in respect of which such letter is being given as the underwriters may reasonably request;
(xiig) cooperate with make available for inspection by the sellers Selling Holders designated by a majority thereof, any underwriter participating in any distribution pursuant to such Registration Statement, and any attorney, accountant or other agent retained by such representative of the managing Selling Holders or underwriter to facilitate (the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law"Inspectors"), if necessary or appropriateall financial and other records, representing securities sold under any registration statementpertinent corporate documents and properties of the Company (collectively, the "Records"), and enable cause the Company's officers, directors and employees to supply all information reasonably requested by any such securities Inspector in connection with such Registration Statement.
(h) cause the Registerable Securities to be in such denominations and registered in such names as listed on New York Stock Exchange, American Stock Exchange or on the managing underwriter NASDAQ National Market if the Common Stock is or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriatebecomes so listed;
(xiiii) have appropriate officers use best efforts to keep effective and maintain for the period of distribution to be Counted, qualification, approval or listing obtained to cover the Registrable Securities as may be necessary for the Selling Holders to dispose thereof and shall from time to time amend or supplement any prospectus used in connection therewith to the extent necessary in order to comply with applicable law;
(j) use best efforts to cause the Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, to enable the Selling Holders to consummate the disposition of such Registrable Securities; and
(k) take such other actions as the case may be, and otherwise use its reasonable best efforts to cooperate as are reasonably requested by the Selling Holders and or the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriterunderwriters, if any, in order to expedite, facilitate or consummate the disposition of such Registrable Securities. In connection with each registration hereunder with respect to an underwritten public offering, the Company and each Selling Holder agrees to enter into a written agreement with the managing underwriter or underwriters selected in the manner herein provided in such form and containing such provisions as are customary in the securities business for such an arrangement between underwriters and companies of the Company's size and investment stature, provided that such agreement shall not contain any such provision applicable to the Company or the Selling Holders that is inconsistent with the provisions hereof; and further provided, that the time and place of the closing under said agreement shall be as mutually agreed upon among the Company, the Selling Holders and such managing underwriter. In connection with each registration hereunder, each Selling Holder will furnish promptly to the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for itself and the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations proposed distribution by it as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described necessary in Section 3.6(a)(ix) order to the date when all such Selling Holders shall receive such a supplemented or amended prospectus ensure compliance with federal and such prospectus shall have been filed with the Commissionapplicable state securities laws.
Appears in 2 contracts
Samples: Registration Rights Agreement (Brigham Holdings Ii LLC), Registration Rights Agreement (Enron Capital & Trade Resources Corp)
Registration Procedures. (a) If and whenever the Company is required to will use all commercially reasonable efforts to effect the registration Shelf Registration and Required Registration pursuant to Section 3.1 and each Incidental Registration pursuant to Section 3.2, and to cooperate with the sale of any such Registrable Securities under the Securities Act in accordance with such registration statements as provided in Sections 3.1 quickly as reasonably practicable, and 3.2, the Company shall will as promptly expeditiously as practicable reasonably practicable:
(in each case, a) subject to the extent applicable):
(i) rights of Company set forth in Section 3.2(a), prepare and file with the Commission a SEC the registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use all commercially reasonable efforts to cause such registration statement the Registration to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessbecome effective;
(iib) subject, in the case of an Incidental Registration, to the proviso to Section 3.2(a), prepare and file with the Commission SEC such amendments (including and post-effective amendments) and supplements amendments to such any registration statement and the any prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier of such time as all of such securities Registrable Securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in and cause the case of a Demand Registration prospectus to be supplemented by any required prospectus supplement, and as so supplemented to be filed pursuant to Section 3.1, Rule 424 under the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveSecurities Act;
(iiic) furnish furnish, upon request, at no charge to the holders of the Registrable Securities, to each Selling Holder holder of Registrable Securities to be included in such Registration and each underwriterthe underwriter or underwriters, if anywithout charge, at least one copy of the securities being sold by such Selling Holder signed registration statement and any post-effective amendment thereto, and such number of conformed copies of such registration statement thereof and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other each prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, any amendments or supplements thereto and any Issuer Free Writing Prospectus and such other documents incorporated by reference therein, as such Selling Holder and underwriter, if any, holder or underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned being sold by such seller;
holder (iv) it being understood that Company consents to the use commercially reasonable efforts to register of the prospectus and any amendment or qualify such supplement thereto by each holder of Registrable Securities covered by such registration statement under such other securities laws and the underwriter or blue sky laws of such jurisdictions as any Selling Holder underwriters, in connection with the offering and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions sale of the Registrable Securities owned covered by such Selling Holder, except that the Company shall not for prospectus or any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction amendment or to file a general consent to service of process in any such jurisdictionsupplement thereto);
(vd) use commercially reasonable efforts to cause such promptly notify each holder of the Registrable Securities to be listed on each securities exchange on which similar securities issued by included in such Registration and the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange underwriter or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriterunderwriters:
(1i) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy stop order or other order suspending the conditions for receipt effectiveness of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant issued or other agent or representative retained threatened by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibilitySEC in connection therewith, and cause take all commercially reasonable actions required to prevent the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure entry of such Records is necessary stop order or to avoid remove it or correct a misstatement or omission in obtain withdrawal of it at the earliest possible moment if entered;
(ii) when such registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdictionany prospectus used in connection therewith, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus amendment or supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement has been filed and, with respect to the such registration statement or any post-effective amendment thereto, when the same has become effective;
(2iii) of any written request by the Commission SEC for amendments or supplements to the such registration statement or the prospectus or for additional information;
(3iv) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;jurisdiction; and
(ixv) following it becoming aware thereof, notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Stockholders of the happening occurrence of any event as that makes any statement made in a result registration statement or prospectus untrue in any material respect or that requires the making of whichany changes in a registration statement or prospectus so that, the prospectus included in such registration statementregard, as then in effect, includes an it shall not contain any untrue statement of a material fact or omits to state omit any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at (in the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies case of a supplement to or an amendment prospectus, in light of such prospectus as may be necessary so thatthe circumstances under which they were made), as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(xe) if requested by the managing underwriter or underwriters, promptly incorporate in a prospectus supplement or post-effective amendment such information relating to such underwriting as the managing underwriter or underwriters reasonably request to be included therein; and make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness all required filings of such registration statementprospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or post-effective amendment; provided , however , that Company shall not be required to take any action pursuant to this Section 3.3(e) that would, in the opinion of counsel to the Company, violate applicable Law;
(xif) otherwise on or prior to the date on which a Registration is declared effective, use all commercially reasonable efforts to comply with all applicable rules and regulations of the Commissionregister or qualify, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers holders of Registrable Securities to be included in such Registration, the underwriter or underwriters, if any, and their counsel, in connection with the registration or qualification of the Registrable Securities covered by such Registration for offer and sale under the securities or “blue sky” laws of each state and other jurisdiction of the United States as any such holder or underwriter reasonably requests in writing; use all commercially reasonable efforts to keep each such registration or qualification effective, including through new filings, or amendments or renewals, during the period such registration statement is required to be kept effective; and do any and all other acts or things reasonably necessary or advisable to enable the disposition of the Registrable Securities in all such jurisdictions reasonably requested to be covered by such Registration.
(g) in connection with any sale pursuant to a Registration, cooperate with the holders of Registrable Securities to be included in such Registration and the managing underwriter or underwriters, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law)including, if necessary or appropriatewithout limitation, those set forth in Section 2.1) representing securities to be sold under any registration statementsuch Registration, and enable such securities to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or such sellers holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriaterequest;
(xiiih) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use all commercially reasonable efforts to cause the Registrable Securities to be registered with or approved by such other governmental agencies or authorities within the United States and having jurisdiction over Company or any Subsidiary as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, as applicable, to consummate the disposition of such securities;
(i) use all commercially reasonable efforts to obtain such legal opinions and auditors’ consents as may be required by applicable Law;
(j) otherwise comply with all applicable rules and regulations of the Commission SEC, and all reporting requirements make generally available to its security holders (as contemplated by Section 11(a) under the rules and regulations Securities Act) an earnings statement satisfying the provisions of Rule 158 under the Securities Act no later than ninety (90) days after the end of the Exchange Act. The Company may require each Selling Holder and each underwritertwelve (12) month period beginning with the first month of Company’s first fiscal quarter commencing after the effective date of the registration statement, if anywhich statement shall cover said twelve (12) month period;
(k) use all commercially reasonable efforts to cause its senior executive officers to participate in “road shows” at the request of the underwriters in connection with a Required Registration; provided , that such senior executive officers shall not be required to furnish participate in “road shows” for more than two (2) Required Registrations;
(l) register the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as on trading on AMEX, or such other national securities exchange or NASDAQ where the Company may from time Common Stock is registered for public trading;
(m) provide copies to time reasonably request Stockholders of “cold comfort” letters or other documents provided to complete or amend underwriters; and
(n) prior to filing of a registration statement with the information required by SEC, deliver to the Stockholders and counsel for the Stockholders a copy of such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Merger Agreement (General Finance CORP), Stockholders Agreement (General Finance CORP)
Registration Procedures. (a) If and whenever the Company is Whenever required under this Agreement to use its commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Securities, the Company shall will use its commercially reasonable efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Company shall, as promptly expeditiously as practicable (in each case, to the extent applicable):reasonably possible:
(ia) prepare Prepare and file with the Commission a registration statement Registration Statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules Registrable Securities and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement Registration Statement to become and remain effective pursuant to until the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessdistribution thereof has been completed;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect Furnish to the disposition of all securities covered by Holders such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number numbers of copies of the prospectus contained in such registration statement (a prospectus, including each a preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, they may reasonably request in order to facilitate the public sale or other disposition of the such Registrable Securities owned by such sellerthem;
(ivc) use commercially reasonable efforts to register or qualify such Notify the selling Holders of Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation promptly (but in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
event within two (2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statementdays);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any confirm such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector notice in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if writing (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into when a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement has been filed, and, with respect to the registration statement a Registration Statement or any post-effective amendment theretoamendment, when the same has become effective;
, (2ii) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) of the issuance by the Commission of any stop order suspending the effectiveness of the registration statement a Registration Statement or the initiation of any proceedings order preventing or suspending the use of any preliminary prospectus, (iii) if at any time when a prospectus is required by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict the Securities Act to be delivered in connection with the information sales of Registrable Securities, the Company becomes aware that the representations and warranties of the Company contained in the registration statement; and
any agreement (5including, without limitation, any underwriting agreement) contemplated in Section 8(g) below cease to be true and correct in any material respect, (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration Statement or any of the Registrable Securities for offer or sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery thatjurisdiction, or upon (v) if the Company becomes aware of the happening of any event as a result of which, the prospectus included that makes any statement made in such registration statementRegistration Statement or related prospectus or document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in such Registration Statement, as then prospectus or documents so that, in effectthe case of such Registration Statement, includes an it will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, andand that in the case of the prospectus, at it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the request statements therein, in light of the circumstances under which they were made, not misleading;
(d) Upon the occurrence of any Selling Holderevent contemplated by Section 8(c) above, as promptly as practicable, prepare and furnish a supplement or post-effective amendment to such seller a reasonable number of copies of the Registration Statement or a supplement to the related prospectus or an amendment of such prospectus as may any document incorporated or deemed to be necessary incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of such the Registrable SecuritiesSecurities being sold thereunder, such prospectus shall will not include contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading;
(xe) As promptly as practicable after the Exchange Act Registration Statement or the Securities Act Registration Statement, as applicable, shall have been declared effective under the Securities Act, use its commercially reasonable efforts to cause the Shares to be authorized to be quoted and/or listed (to the extent applicable) on the American Stock Exchange, the New York Stock Exchange, the NASDAQ National Market (or, in each case, a successor thereto) or a similarly recognized trading platform, if the Shares so qualify;
(f) Use its commercially reasonable efforts to register and qualify the Registrable Securities covered by the Registration Statement under such other securities or “Blue Sky” laws of such jurisdictions as shall be reasonably appropriate for the distribution of the Registrable Securities covered by the Registration Statement; provided that the Company shall not be required in connection therewith or as a condition thereto, to qualify to do business or to file a general consent to service of process in any such states or jurisdictions; and provided, further that (anything in this Agreement to the contrary notwithstanding with respect to the bearing of expenses) if any jurisdiction in which the Registrable Securities shall be qualified requires that expenses incurred in connection with the qualification of the securities in that jurisdiction be borne by selling shareholders, then such expenses shall be payable by the Holders of such Registrable Securities pro rata to the extent required by any jurisdiction;
(g) In the case of any underwritten offering, enter into an underwriting agreement in form, scope and substance as is customary in underwritten offerings and take all other actions as are reasonably requested by the managing underwriters in order to expedite or facilitate the registration or disposition of the Registrable Securities, and in such connection, (i) make such representations and warranties to the underwriters, with respect to the business of the Company and its subsidiaries, and the Registration Statement, prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings, and confirm the same if and when requested, (ii) obtain opinions of counsel to the Company and updates thereof (which opinions (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters), addressed to the underwriters covering the matters customarily covered in opinions requested in underwritten offerings, (iii) obtain “cold comfort” letters and updates thereof from the independent public certified accountants of the Company (and, if necessary, any other independent certified public accounts of any subsidiary of the Company or of any business acquired by the Company for which financial statements and financial data are, or are required to be, included in the Registration Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings and (iv) if any underwriting agreement is entered into, the same shall contain indemnification provisions and procedures no less favorable to the Holders of Registrable Securities than those set forth in Section 12 hereof (or such other provisions and procedures acceptable to Holders of a majority of the Registrable Securities covered by such Registration Statement and the managing underwriters or agents). The above actions shall be taken at each closing under such underwriting agreement, or as and to the extent required thereunder;
(h) Make available for inspection by any selling Holder of Registrable Securities, by any underwriter participating in any disposition to be effected pursuant to such Registration Statement and by any attorney, accountant or other agent retained by any such selling Holder or any such underwriter, all pertinent financial and other records and pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such selling Holder, underwriter, attorney, accountant or agent in connection with such Registration Statement; and
(i) Use every reasonable effort to obtain prevent the withdrawal issuance of any stop order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary Registration Statement or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by order preventing or suspending the use of any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; preliminary prospectus and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (orsuch order is issued, if no underwriter, to obtain the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, lifting thereof at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionearliest reasonable time.
Appears in 2 contracts
Samples: Investor Rights Agreement (Research Pharmaceutical Services, Inc.), Investor Rights Agreement (Research Pharmaceutical Services, Inc.)
Registration Procedures. (a) If and whenever In the case of each registration, qualification, or compliance effected by the Company is required pursuant to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Section 3 hereof, the Company shall will keep each Holder including securities therein reasonably advised in writing (which may include e-mail) as promptly as practicable (in each case, to the extent applicable):initiation of each registration, qualification, and compliance and as to the completion thereof. With respect to any registration statement filed pursuant to Section 3, the Company will use its commercially reasonable best efforts to:
(ia) prepare and file with the Commission with respect to such Registrable Securities, a registration statement to effect such registrationon Form S-1, cause such registration statement to become effective at or any other form for which the earliest possible date permitted under Company then qualifies or which counsel for the rules Company shall deem appropriate, and regulations which form shall be available for the sale of the CommissionRegistrable Securities in accordance with the intended method(s) of distribution thereof, and thereafter use its commercially reasonable efforts to cause such registration statement to become and remain effective pursuant at least for a period ending with the first to occur of (i) the terms sale of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not all Registrable Securities at any time prior to the effective date of covered by the registration statement relating theretostatement, (ii) the availability under Rule 144 for the Holder to immediately, freely resell without restriction all Registrable Securities covered by the registration statement, (iii) 90 days after a Piggyback Registration is declared effective by the Commission (in each case, the“Effectiveness Period”); provided, further provided that no later than two business days before filing such with the Commission a registration statement or prospectus or any amendments or supplements thereto, the Company will shall (i) furnish to the one special counsel (“Holders’ Counsel”) selected by the holders Company for the benefit of Registrable Securities the Holders (which are Holders’ Counsel shall be the same Holders’ Counsel selected under the Registration Rights Agreement of the Company dated October 17, 2007 so long as the Investors remain a party to be included in such registration (“Selling Holders”) that agreement), copies of all such documents proposed to be filed (excluding any exhibits other than applicable underwriting documents), in substantially the form proposed to be filed, which documents will shall be subject to the review of such counselHolders’ Counsel, and (ii) notify each Holder of Registrable Securities covered by such review registration statement of any stop order issued or threatened by the Commission and take all reasonable actions required to be conducted with reasonable promptnessprevent the entry of such stop order or to remove it if entered;
(iib) if a registration statement is subject to review by the Commission, promptly respond to all comments and diligently pursue resolution of any comments to the satisfaction of the Commission;
(c) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective during the Effectiveness Period (but in any event at least until expiration of the 90-day period referred to in Section 4(3) of the Securities Act and to Rule 174, or any successor thereto, thereunder, if applicable), and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods method(s) of disposition by the seller or sellers thereof set forth in such registration statement;
(d) furnish, without charge, to each Holder of Registrable Securities covered by such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such reasonable number of conformed copies of such registration statement and of (including any exhibits thereto other than exhibits incorporated by reference), each amendment and supplement thereto as such Holder may request, (in each case including all exhibits), ii) such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act) as such Holders may request, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and (iii) such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerHolder, but only during the Effectiveness Period;
(ive) use its commercially reasonable best efforts to register or qualify such Registrable Securities covered by such registration statement under such other applicable securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of Registrable Securities covered by such registration statement reasonably requests as may be necessary for the marketability of the securities being sold Registrable Securities (such request to be made by such Selling Holder shall reasonably request, the time the applicable registration statement is deemed effective by the Commission) and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except ; provided that the Company shall not for any such purpose be required to (i) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause paragraph (ive), (ii) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction jurisdiction, or to file a general (iii) consent to general service of process in any such jurisdiction;
(vf) use commercially reasonable efforts to cause as promptly as practicable after becoming aware of such event, notify each Holder of such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Act of the happening of any event which comes to the Company’s attention if as a result of which, such event the prospectus included in such registration statement, as then in effect, includes statement contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at misleading and the request of any Selling Holder, Company shall promptly prepare and furnish to such seller a reasonable number of copies of Holder a supplement or amendment to or an amendment of such prospectus as may be necessary (or prepare and file appropriate reports under the Exchange Act) so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include contain an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, unless suspension of the use of such prospectus otherwise is authorized herein or in the event of a Blackout Period, in which case no supplement or amendment need be furnished (or Exchange Act filing made) until the termination of such suspension or Blackout Period;
(xg) make every reasonable effort comply, and continue to obtain comply during the withdrawal of any order suspending the effectiveness of period that such registration statement;
(xi) otherwise use commercially reasonable efforts to comply statement is effective under the Securities Act, in all material respects with the Securities Act and the Exchange Act and with all applicable rules and regulations of the CommissionCommission with respect to the disposition of all securities covered by such registration statement, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statementSEC Effective Date, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderAct.
(h) as promptly as practicable after becoming aware of such event, notify each Holder of Registrable Securities being offered or sold pursuant to the Registration Statement of the issuance by the Commission of any stop order or other suspension of effectiveness of the Registration Statement at the earliest possible time;
(xiii) permit the Holders of Registrable Securities being included in the Registration Statement and their legal counsel, at such Holders’ sole cost and expense (except as otherwise specifically provided in Section 6) to review and have a reasonable opportunity to comment on the Registration Statement and all amendments and supplements thereto at least two Business Days prior to their filing with the Commission;
(j) make available for inspection by any Holder and any Inspector retained by such Holder, at such Holder’s sole expense, all records as shall be reasonably necessary to enable such Holder to exercise its due diligence responsibility, and cause the Company’s officers, directors, and employees to supply all information which such Holder or any Inspector may reasonably request for purposes of such due diligence; provided, however, that such Holder shall hold in confidence and shall not make any disclosure of any record or other information which the Company determines in good faith to be confidential, and of which determination such Holder is so notified at the time such Holder receives such information, unless (i) the disclosure of such record is necessary to avoid or correct a misstatement or omission in the Registration Statement and a reasonable time prior to such disclosure the Holder shall have informed the Company of the need to so correct such misstatement or omission and the Company shall have failed to correct such misstatement or omission, (ii) the release of such record is ordered pursuant to a subpoena or other order from a court or governmental body of competent jurisdiction or (iii) the information in such record has been made generally available to the public other than by disclosure in violation of this or any other agreement. The Company shall not be required to disclose any confidential information in such records to any Inspector until and unless such Inspector shall have entered into a confidentiality agreement with the Company with respect thereto, substantially in the form of this Section 4(j), which agreement shall permit such Inspector to disclose records to the Holder who has retained such Inspector. Each Holder agrees that it shall, upon learning that disclosure of such records is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to the Company and allow the Company, at the Company’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the records deemed confidential. The Company shall hold in confidence and shall not make any disclosure of information concerning a Holder provided to the Company pursuant to this Agreement unless (i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) disclosure of such information to the Staff of the Division of Corporation Finance is necessary to respond to comments raised by the Staff in its review of the Registration Statement, (iii) disclosure of such information is necessary to avoid or correct a misstatement or omission in the Registration Statement, (iv) release of such information is ordered pursuant to a subpoena or other order from a court or governmental body of competent jurisdiction, or (v) such information has been made generally available to the public other than by disclosure in violation of this or any other agreement. The Company agrees that it shall, upon learning that disclosure of such information concerning a Holder is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to such Holder and allow such Holder, at such Holder’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such information;
(k) use its best efforts to cause all the Registrable Securities covered by the Registration Statement to be listed or quoted on the principal securities market on which securities of the same class or series issued by the Company are then listed or traded;
(l) provide a transfer agent and registrar, which may be a single entity, for the Registrable Securities at all times;
(m) cooperate with the sellers and Holders of Registrable Securities being offered pursuant to the managing underwriter Registration Statement to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, legends) representing securities sold under any registration statement, Registrable Securities to be offered pursuant to the Registration Statement and enable such securities certificates to be in such denominations or amounts as the Holders may reasonably request and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRArequest; and
(xvin) otherwise use commercially take all other reasonable efforts actions necessary to comply with all applicable rules expedite and regulations facilitate disposition by the Holders of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the CommissionRegistration Statement.
Appears in 2 contracts
Samples: Registration Rights Agreement (Internet America Inc), Registration Rights Agreement (Internet America Inc)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts by the provisions of Sections 4, 5 or 6 to effect registration of the registration offer and sale of any Registrable Securities Shares pursuant to a Registration Statement to be filed under the Securities Act as provided in Sections 3.1 and 3.2Act, the Company shall as promptly as practicable (in each case, to the extent applicable):will:
(i) prepare and file at least three business days prior to the initial filing of the Registration Statement with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders Special Counsel a copy of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents Registration Statement as proposed to be filed, which documents and the Company will in good faith consider incorporating into such Registration Statement any comments of Special Counsel received by the Company within three business days of furnishing such copy. If a Registration Statement is reviewed by the Commission: (A) the Company will as promptly as reasonably practicable provide Special Counsel with a copy of each comment letter issued in respect of such Registration Statement and a copy of the Company’s proposed responses thereto; (B) the Company shall further provide Special Counsel with a copy of any proposed amendment to be subject filed with the Commission no less than four business days prior to the review Company’s proposed filing date; (C) the Company will in good faith consider incorporating into such amendment any comments of Special Counsel received by the Company within three business days of furnishing such counselcopy; and (D) once the Registration Statement is cleared from review, the Company will as promptly inform Special Counsel of the effectiveness thereof. The Company will use its best efforts to cause a Registration Statement to become effective as promptly as practicable after the initial filing thereof with the Commission and use its best efforts to cause such review Registration Statement to be conducted with reasonable promptness;remain effective for the period of the distribution contemplated thereby (determined as hereinafter provided).
(ii) after a Registration Statement is initially declared effective, prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement Registration Statement and the related prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement Registration Statement effective for the period of the distribution contemplated thereby and to comply with the provisions of the Securities Act with respect to the disposition of all securities Registrable Shares covered by such registration statement until the earlier of such time as all of such securities have been disposed of Registration Statement in accordance with the sellers’ intended methods method of disposition by the seller or sellers thereof set forth in such registration statement Registration Statement for such period. The Company shall, at least three business days prior to the filing of a post-effective amendment to the Registration Statement or a prospectus (i) including a prospectus supplement, a Free Writing Prospectus and any documents to be incorporated by reference in the case prospectus to the extent they expressly relate to an offering under the Registration Statement), furnish a copy of a Demand Registration pursuant such proposed filing to Section 3.1Special Counsel and any underwriter (if such filing relates to an underwritten offering), and the expiration Company will in good faith consider incorporating into such proposed filing any comments of 60 Special Counsel received by the Company within two business days after of furnishing such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;copy.
(iii) as promptly as reasonably practicable furnish to each Selling Holder Special Counsel copies of any and each underwriterall transmittal letters and other correspondence with the Commission and all correspondence from the Commission to the Company relating to the Registration Statement or any prospectus or any amendment or supplement thereto.
(iv) after a Registration Statement is declared effective, if anyand in connection with any underwritten offering under the Registration Statement, of furnish to the securities being sold by Holders whose Registrable Shares are included in such Selling Holder Registration Statement such number of conformed copies of such registration statement and of the Registration Statement, each amendment and supplement thereto (in each case including all exhibitsexhibits thereto but excluding documents incorporated by reference therein other than those that expressly relate to the offering), such number of copies of the prospectus contained included in such registration statement Registration Statement (including each preliminary any prospectus and any summary prospectussupplements) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as any such Selling Holder and underwriter, if any, Holders or underwriters may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;Shares included in the Registration Statement.
(ivv) use commercially reasonable its best efforts (i) to register or qualify such the Registrable Securities covered by such registration statement Shares under such other securities laws or blue sky laws of such jurisdictions in the United States (in the event an exemption is not available) as any Selling Holder of Registrable Shares covered by a Registration Statement reasonably (in the light of such Holder’s intended plan of distribution) requests and (ii) to do any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any all other action which acts and things that may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities Shares owned by such Selling Holder, except ; provided that the Company shall will not for any such purpose be required to (w) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for this Section 7(a)(v), (x) conform its capitalization or the requirements composition of this clause its assets at the time to the securities or blue sky laws of any such jurisdiction, (ivy) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general (z) consent to general service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;.
(vi) use commercially reasonable efforts to cause such as promptly as reasonably practicable notify each other Holder of Registrable Securities Shares covered by such registration statement the Registration Statement, at any time when a prospectus relating thereto is required to be registered with delivered (or approved by deemed delivered) under the Securities Act, of the occurrence of an event of which the Company has knowledge requiring the preparation of a supplement or amendment to such other governmental agencies prospectus so that, as thereafter delivered (or authorities as may be necessary deemed delivered) to enable the Selling Holder(s) thereof to consummate the disposition purchasers of such Registrable Securities;Shares, such prospectus will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they are made, not misleading, and the Company will as promptly as reasonably practicable prepare and furnish to such Holders a supplement to or an amendment of such prospectus so that, as thereafter delivered (or deemed delivered) to the purchasers of such Registrable Shares, such prospectus will not contain any untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading.
(vii) enter into reasonable and customary agreements (including an underwriting or other agreement in connection with an Underwritten Offering, obtain form customary in the securities business for each Selling companies of the size and investment stature of the Company) and use best efforts to take such other actions as are reasonably required or requested by a Holder and underwriter:or underwriter in order to expedite or facilitate the disposition of any Registrable Shares pursuant to a Registration Statement.
(1viii) an opinion upon execution of counsel for a customary confidentiality agreement (if such Holder is not already bound by a confidentiality obligation to the Company), covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any sellerHolder of Registrable Shares covered by a Registration Statement, any underwriter participating in any disposition an underwritten offering pursuant to any registration statementthe Registration Statement, Special Counsel, and any attorney, accountant or other agent or representative professional retained by any such seller Holder or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, ) and cause the Company’s and its significant subsidiaries’ officers, directors and employees to, and shall use commercially reasonable efforts to cause the Company’s independent accountants to, as promptly as reasonably practicable, supply all information reasonably requested by any such Inspector in connection with such registration statementRegistration Statement or underwritten offering, in each case, to the extent reasonably necessary to establish the applicable Person’s due diligence defense under U.S. securities laws; providedprovided that in no event shall the Company be required to make available to the Holders any information which the Board of Directors in its good faith judgment believes is competitively sensitive. The Inspectors shall coordinate with one another so that the inspection permitted hereunder will not unnecessarily interfere with the Company’s conduct of business. In any event, howeverRecords which the Company determines, in good faith, to be confidential and which it notifies or otherwise identifies in writing to the Inspectors are confidential shall not be disclosed by the Inspectors unless (and only to the extent that, unless ) (i) the disclosure of such Records is necessary to avoid permit a Holder to enforce its rights under this Agreement or correct a misstatement or omission in the registration statement or (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company . Each Holder agrees that information obtained by it as a result of such inspections shall be deemed confidential and shall not be required to provide used by it as the basis for any information under this subparagraph (viii) if (i) market transactions in the securities of the Company believes, after consultation with counsel for (unless and until such is made generally available to the public by the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder for any reason not related to the registration of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Securities. Each Holder of Registrable Securities further agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, cause give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;.
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable best efforts (i) to comply with all applicable rules and regulations of the CommissionCommission to the extent necessary to permit it to lawfully fulfill its obligations under this Agreement, and (ii) to make available to Selling Holdersits security holders, as promptly as reasonably practicable, an earnings statement covering the a period of at least 12 months, but not more than 18 months, beginning with upon the first day disposition of the Company’s first full quarter after the effective date of such registration statementRegistrable Shares pursuant to a Registration Statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;Act.
(xiix) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested cause all Registrable Shares to be listed on each securities exchange on which the Common Stock is then listed.
(b) For purposes of Section 7(a)(i) and 7(a)(ii), the period of distribution of Registrable Shares in a firm commitment underwritten public offering shall be deemed to extend until each underwriter has completed the distribution of all securities purchased by the Selling Holders it, and the underwriters period of distribution of Registrable Shares in any other registration shall be deemed to extend until the offering, marketing or selling earlier of the sale of all Registrable Securities;Shares covered thereby and 120 days after the effective date thereof (such 120-day period to be tolled during any period in which the prospectus included in a Registration Statement may not be used under the circumstances described in Section 7(a)(vi) or 17(c)).
(xivc) if requested by any Selling In connection with each Registration Statement filed hereunder covering Registrable Shares, the Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant of such shares will furnish to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for themselves and the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations proposed distribution by them as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement reasonably shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described necessary in Section 3.6(a)(ix) order to the date when all such Selling Holders shall receive such a supplemented or amended prospectus assure compliance with federal and such prospectus shall have been filed with the Commissionapplicable state securities laws.
Appears in 2 contracts
Samples: Registration Rights Agreement (Casa Systems Inc), Registration Rights Agreement (Casa Systems Inc)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the any registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.22.1 or 2.2 hereof, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare and file with the Commission a (promptly and, in any event on or before the date that is (i) 90 days, in the case of any registration pursuant to Section 2.1(a), after the receipt by the Company of the written request from KKR or (ii) 30 days, in the case of any registration pursuant to Section 2.1(f) after the receipt by the Company of the written request from KKR) the requisite registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially its reasonable best efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreementeffective; provided, however, that the Company may discontinue any registration of its securities which that are not Registrable Securities Shares (and, under the circumstances specified in Sections 2.2 and 2.7(b) hereof, its securities that are Registrable Shares) at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus, including any free writing prospectus as defined in Rule 405 under the Securities Act, used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable Shares and any other securities being sold in an underwritten Public Offering covered by such registration statement until the earlier of such time as all of such Registrable Shares and any other securities have being sold in an underwritten Public Offering has been disposed of in accordance with the intended methods method of disposition by the seller or sellers thereof set forth in such registration statement statement; provided, however, that with respect to each free writing prospectus or other materials to be delivered to purchasers at the time of sale of the Registrable Shares, the Company shall (i) ensure that no Registrable Shares be sold “by means of” (as defined in Rule 159A(b) under the case Securities Act) such free writing prospectus or other materials without the prior written consent of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after KKR covered by such registration statement becomes effectivestatement, which free writing prospectus or other materials shall be subject to the review of counsel to KKR and (ii) in make all required filings of all free writing prospectuses or other materials with the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;SEC as are required.
(iiic) furnish to each Selling Holder KKR and each underwriter, if any, of the securities being sold by such Selling Holder such number of copies of such drafts and final conformed copies versions of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of such drafts and final versions of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder KKR or any underwriter may reasonably request in writing;
(d) use its reasonable best efforts (i) to register or qualify all Registrable Shares and underwriterother securities, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such states or other jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder United States of America as KKR shall reasonably requestrequest in writing, (ii) to keep such registration or qualification in effect for so long as such registration statement remains in effect and (iii) to take any other action which that may be reasonably necessary or reasonably advisable to enable such Selling Holder and underwriter KKR to consummate the disposition in such jurisdictions of the Registrable Securities owned securities to be sold by such Selling HolderKKR, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subsection (ivd) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to general service of process in any such jurisdiction;
(ve) use commercially its reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed obtain and, if no such securities are so listedobtained, use commercially reasonable efforts furnish to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;KKR, and each underwriter, if any, a signed
(vii) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder opinion and underwriter:
(1) an opinion disclosure letter of counsel for the Company, covering dated the matters effective date of such registration statement (and, if such registration involves an underwritten Public Offering, dated the date of the closing under the underwriting agreement and addressed to the underwriters), reasonably satisfactory (based on the customary form and substance of opinions and disclosure letters of issuers’ counsel customarily covered given in opinions requested such an offering) in underwritten offerings form and such other matters as may be reasonably requested by such Selling Holder and substance to the managing underwriters, and
(2ii) a “cold comfort” letter letter, dated the effective date of such registration statement (orand, in if such registration involves an underwritten Public Offering, dated the case date of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letterclosing under the underwriting agreement and addressed to the underwriters) and signed by the independent registered public accountants who have accounting firm that certified the Company’s financial statements included or incorporated by reference in such registration statement, reasonably satisfactory (based on the customary form and substance of “cold comfort” letters of issuers’ independent registered public accounting firm customarily given in such an offering) in form and substance to the managing underwriters, in each case of clauses (i) and (ii) above, covering substantially the same matters with respect to such registration statement (and the prospectus included therein) and, if necessary, any other in the case of the independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Companyaccounting firm’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement andcomfort letter, with respect to events subsequent to the registration statement or any post-effective amendment theretodate of such financial statements, when as are customarily covered in opinions of issuer’s counsel and in the same has become effectiveindependent registered public accounting firm’s comfort letters delivered to underwriters in underwritten Public Offerings of securities;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixf) notify each Selling Holder, KKR at any time when a prospectus relating thereto to the Registrable Shares and any other securities covered by such registration statement, if any, is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances under which they were made, and, at the written request of any Selling HolderKKR, promptly prepare and furnish to such seller it a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus prospectus, as supplemented or amended, shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances under which they were made;
(xg) make every use its reasonable effort best efforts to obtain the withdrawal of any order suspending the effectiveness of such a registration statementstatement relating to the Registrable Shares at the earliest possible moment;
(xih) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the CommissionCommission and any other Governmental Authority having jurisdiction over the offering, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings earning statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings earning statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder, and furnish to KKR and to the managing underwriter, if any, at least ten days prior to the filing thereof a copy of any amendment or supplement to such registration statement or prospectus;
(xiii) use its reasonable best efforts to cause all Registrable Shares and any other securities being sold in an underwritten Public Offering covered by a registration statement (i) to be listed on the Designated Exchange, if the listing of such Registrable Shares is then permitted under the rules of such exchange, or another national securities exchange if the listing is not then permitted or (ii) if the Company is not permitted pursuant to clause (i) above to list Registrable Shares on a national securities exchange, use its reasonable best efforts to secure designation of all Registrable Shares and any other securities being sold in an underwritten Public Offering as a “national market system security” within the meaning of Rule 600(b)(46) of Regulation NMS;
(j) provide a transfer agent and registrar for the Registrable Shares covered by a registration statement no later than the effective date thereof;
(k) enter into such agreements (including an underwriting agreement in customary form) and take such other actions as KKR shall reasonably request in order to expedite or facilitate the disposition of such Registrable Shares, including customary indemnification and contribution to the effect and to the extent provided in Section 2.8 hereof;
(l) in connection with an underwritten Public Offering, if reasonably requested by the managing underwriter(s) or KKR, promptly incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter(s) and KKR agree should be included therein relating to the plan of distribution with respect to such Registrable Shares, including without limitation, information with respect to the number of Registrable Shares being sold to such underwriters, the purchase price being paid therefore by such underwriters and with respect to any other terms of the underwritten Public Offering of the Registrable Shares to be sold in such offering; and make all required filings of such prospectus supplement or post-effective amendment as soon as notified of the matters to be incorporated in such prospectus supplement or post-effective amendment;
(m) if requested by KKR, cooperate with the sellers KKR and the managing underwriter underwriter(s), if any, to facilitate the timely preparation and delivery of certificates (which shall representing Registrable Shares to be sold and not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, legends; and enable such securities Registrable Shares to be in such denominations share amounts and registered in such names as the managing underwriter underwriter(s) or such sellers KKR may request and keep available and make available on or prior to any sale of Registrable Shares to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriateunderwriters;
(xiiin) have appropriate if the registration shall be for an underwritten Public Offering, cause senior officers of the Company prepare to participate in reasonable and make presentations at any “road shows” and before analysts and rating agencies, as customary roadshows necessary to effect the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling disposition of the Registrable Securities;
(xiv) if requested Shares as provided by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, managing underwriters of such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAunderwritten Public Offering; and
(xvio) otherwise use commercially reasonable efforts take such actions as are necessary to comply with all applicable rules and regulations permit any Ordinary Shares covered by any registration effected hereunder to be sold in the form of ADSs. As a condition to the obligations of the Commission and all reporting requirements under Company to complete any registration pursuant to this Agreement with respect to the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriterRegistrable Shares, if any, KKR must furnish to furnish the Company in writing such information (the “Shareholder Information”) regarding each Selling Holder or underwriter itself, the Registrable Shares held by it and the distribution intended methods of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any disposition of the foregoing, in Registrable Shares held by it as is necessary to effect the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements registration of the Company contained hereinRegistrable Shares and is requested in writing by the Company. At least fifteen (15) by an issuer days prior to the first anticipated filing date of common stock in underwriting agreements with respect to offerings of common stock a registration statement for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to registration under this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership will notify in writing KKR of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from Shareholder Information which the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period is requesting from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the CommissionKKR.
Appears in 2 contracts
Samples: Registration Rights Agreement (Tarena International, Inc.), Registration Rights Agreement (Han Shaoyun)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Section 2.2 and, as applicable, 2.3, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a SEC the registration statement statement, or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under Securities Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the SEC, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.2); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders Holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any registration statement pursuant to Section 2.2 or Section 2.3, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier of such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback “Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveMaintenance Period”);
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerHolder;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other U.S. federal or state securities laws or U.S. state blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling U.S. Holder shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) U.S. Holder thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offeringfurnish to each Holder a signed counterpart, obtain for each Selling Holder addressed to such Holder, and underwriter:
(1) the underwriters, if any, of an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), reasonably satisfactory in opinions requested form and substance to such Holder) including that the prospectus and any prospectus supplement forming a part of the registration statement does not contain an untrue statement of a material fact or omit a material fact required to be stated therein or necessary in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwritersorder to make the statements therein, in light of the circumstances under which they were made, not misleading, and
(2vii) a “comfort” letter (or, notify the Holder and its counsel promptly and confirm such advice in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of writing promptly after the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);has knowledge thereof:
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of when the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement has been filed, and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2B) of any request by the Commission SEC for amendments or supplements to the registration statement or the prospectus or for additional information;
(3C) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5D) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling HolderHolder of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such Holder promptly prepare and furnish to such seller Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xix) make every reasonable effort use its best efforts to obtain the withdrawal of any order suspending the effectiveness of such the registration statementstatement at the earliest possible moment;
(xix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xi) enter into such agreements and take such other actions as the Holders shall reasonably request in writing (at the expense of the requesting or benefiting Investors) in order to expedite or facilitate the disposition of such Registrable Securities; and
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list or otherwise qualify for trading all Registrable Securities covered by the Selling Holders such registration statement on any securities exchange, trading market, quotation system and the underwriters in the offering, marketing or selling any other trading venue on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” Company’s securities of the same class as the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed or qualified for trading or quotation. The Company may require each Selling Holder and each underwriter, if any, of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling such Holder or underwriter and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementin writing.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Investment Agreement (Intersearch Group Inc), Registration Rights Agreement (Intersearch Group Inc)
Registration Procedures. (a) If and whenever Whenever the parties hereto have requested that any Registrable Securities be registered in a Piggyback Registration pursuant to Section 5.1 or a Demand Registration has been requested pursuant to Section 5.2, the Company is required to will use commercially its reasonable efforts to effect the registration and the sale of any such Registrable Securities under in accordance with the Securities Act as provided in Sections 3.1 intended method of disposition thereof, and 3.2, pursuant thereto the Company shall will as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare and file with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, Registrable Securities and thereafter use commercially its reasonable efforts to cause such registration statement to remain become effective pursuant to the terms of this Agreement; provided(provided that, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to the counsel selected by the holders of a majority of the Registrable Securities which are to be included in covered by such registration (“Selling Holders”) statement copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness);
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for a period of either (i) not less than six months (subject to extension pursuant to Section 5.7(b)) or, if such registration statement relates to an underwritten offering, such longer period as in the opinion of counsel for the underwriters a prospectus is required by law to be delivered in connection with sales of Registrable Securities by an underwriter or dealer or (ii) such shorter period as will terminate when all of the securities covered by such registration statement have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement (but in any event not before the expiration of any longer period required under the Securities Act), and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivestatement;
(iiic) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), Registrable Securities such number of copies of such registration statement, each amendment and supplement thereto, the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivd) use commercially its reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder seller reasonably requests and do any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except seller (provided that the Company shall will not for any such purpose be required to (i) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause subparagraph, (ivii) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general (iii) consent to general service of process in any such jurisdiction);
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition seller of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the discovery of the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes statement contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances under which they were made, and, at the request of any Selling Holdersuch seller, promptly the Company will prepare and furnish to such seller a reasonable number of copies of a supplement or amendment to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall will not include contain an untrue statement of a material fact or omit to state a material any fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances under which they were made;
(xf) make every reasonable effort cause all such Registrable Securities to obtain be listed on each securities exchange on which similar securities issued by the withdrawal of any order suspending Company are then listed;
(g) provide a transfer agent and registrar for all such Registrable Securities not later than the effectiveness effective date of such registration statement;
(xih) enter into such customary agreements (including underwriting agreements in customary form) and take all such other actions as the holders of a majority of the Registrable Securities being sold or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (including, without limitation, effecting a stock split or a combination of shares);
(i) make available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition pursuant to such registration statement, and any attorney, accountant or other agent retained by any such seller or underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company's officers, directors, employees and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement;
(j) otherwise use commercially its reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, twelve months beginning with the first day of the Company’s 's first full calendar quarter after the effective date of such the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xiik) cooperate with in the sellers and event of the managing underwriter to facilitate issuance of any stop order suspending the timely preparation and delivery effectiveness of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any a registration statement, and enable such or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any securities to be included in such denominations and registered registration statement for sale in any jurisdiction, the Company will use its reasonable efforts promptly to obtain the withdrawal of such names as order;
(l) obtain a cold comfort letter, dated the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness effective date of such registration statement a supply of (and, if such certificates as necessary or appropriate;
(xiii) have appropriate officers registration includes an underwritten public offering, dated the date of the Company prepare closing under the underwriting agreement), signed by the Company's independent public accountants in customary form and make presentations at any “road shows” and before analysts and rating agencies, covering such matters of the type customarily covered by cold comfort letters as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling holders of a majority of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may Securities being sold reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” (provided that such Registrable Securities constitute at least 10% of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation securities covered by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAsuch registration statement); and
(xvim) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations provide a legal opinion of the Commission and all reporting requirements Company's outside counsel, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, dated the date of the closing under the rules underwriting agreement), with respect to the registration statement, each amendment and regulations supplement thereto, the prospectus included herein (including the preliminary prospectus) and such other documents relating thereto in customary form and covering such matters of the Exchange Acttype customarily covered by legal opinions of such nature. The Company may require each Selling Holder and each underwriter, if any, seller of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such seller and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementin writing.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Shareholders Agreement (Tanner Chemicals Inc), Shareholder Agreement (Sovereign Specialty Chemicals Inc)
Registration Procedures. In the case of each registration, qualification or compliance effected by the Company pursuant to this Agreement, the Company will:
(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act keep each Holder advised in writing as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):initiation of each registration, qualification and compliance and as to the completion thereof;
(ib) prepare and file with the Commission a registration statement and any amendments thereto with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules securities and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant to Rule 415 under the terms Securities Act at all times until such date as is the earlier of: (i) the date on which all of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior have been sold; and (ii) the date on which the Registrable Securities may be immediately sold to the effective date of the public without registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will restriction;
(c) furnish to the counsel selected by the holders of Registrable Securities which are to be included Holders participating in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject and to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, underwriters of the securities being sold by registered such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such reasonable number of copies of the registration statement, preliminary prospectus, final prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder Holders and underwriter, if any, underwriters may reasonably request in order to facilitate the public sale or other disposition offering of the Registrable Securities owned by such sellersecurities;
(ivd) use commercially its reasonable best efforts to register or and qualify such Registrable Securities the securities covered by such registration statement under such other securities laws or blue sky Blue Sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate requested by the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdictionHolders;
(ve) use commercially reasonable efforts to in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering.
(f) cause all such Registrable Securities registered pursuant to this Agreement hereunder to be listed on a national securities exchange or trading system and each securities exchange and trading system on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vig) use commercially reasonable efforts to cause such provide a transfer agent and registrar for all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of pursuant hereunder and a CUSIP number for all such Registrable Securities;
(vii) , in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion case not later than the effective date of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, registration; and
(2h) use its reasonable best efforts to furnish, at the request of any Holder, on the date on which the Registrable Securities are sold to the underwriter, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a “comfort” letter (ordated such date, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by from the independent registered certified public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that in form and substance as is customarily given by independent certified public accountants to do so would cause the Company underwriters in an underwritten public offering, addressed to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Sparking Events, Inc.), Registration Rights Agreement (Sparking Events, Inc.)
Registration Procedures. (a) If and whenever Whenever the Stockholders have requested that any Registrable Securities be registered pursuant to this Agreement (whether pursuant to Demand Registration or Piggyback Registration), the Company is required (subject to its right to withdraw such registration as contemplated by Section 2.2(d) hereof) shall use commercially reasonable its best efforts to effect the registration and the sale of any such Registrable Securities under in accordance with the Securities Act as provided intended method of distribution thereof and, in Sections 3.1 and 3.2connection therewith, the Company shall as promptly expeditiously as practicable possible, and, in any event, within sixty (in each case, to the extent applicable):60) days of receipt of such request:
(i) prepare and file with the Commission a registration statement with respect to effect such registration, Registrable Securities on any form for which the Company then qualifies and is available for the sale of Registrable Securities to be registered thereunder in accordance with the intended method of distribution and use its reasonable best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations within one hundred twenty (120) days of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessthereof;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for a continuous period of not less than one hundred eighty (180) days (or, if earlier, until all Registrable Securities included in such registration statement have been sold thereunder in accordance with the method of distribution set forth therein) and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof as set forth in such registration statement (including, without limitation, by incorporating in a prospectus supplement or (i) in post-effective amendment, at the case request of a Demand Registration pursuant to Section 3.1seller of Registrable Securities, the expiration terms of 60 days after the sale of such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveRegistrable Securities);
(iii) before filing with the Commission any such registration statement or prospectus or any amendments or supplements thereto, the Company shall furnish to each Selling Holder and each underwritercounsel selected by the Demanding Holders of a majority of the Registrable Securities held by the Demanding Holders, counsel for the underwriter or sales or placement agent, if any, and any other counsel for holders of Registrable Securities, if any, in connection therewith, drafts of all such documents proposed to be filed and provide such counsel with a reasonable opportunity for review thereof and comment thereon, such review to be conducted and such comments to be delivered with reasonable promptness;
(iv) promptly (i) notify each seller of Registrable Securities of each of (x) the filing and effectiveness of the registration statement and prospectus and any amendment or supplements thereto, (y) the receipt of any comments from the Commission or any state securities being sold by law authorities or any other governmental authorities with respect to any such Selling Holder registration statement or prospectus or any amendments or supplements thereto, and (z) any oral or written stop order with respect to such number registration, any suspension of the registration or qualification of the sale of such Registrable Securities in any jurisdiction or any initiation or threat of any proceedings with respect to any of the foregoing and (ii) use its reasonable best efforts to obtain the withdrawal of any order suspending the registration or qualification (or the effectiveness thereof) or suspending or preventing the use of any related prospectus in any jurisdiction with respect thereto;
(v) furnish to each seller of Registrable Securities, the underwriters and the sales or placement agent, if any, and counsel for each of the foregoing, a conformed copies copy of such registration statement and of each amendment and supplement thereto (in each case case, including all exhibits), exhibits thereto and documents incorporated by reference therein) and such additional number of copies of such registration statement, each amendment and supplement thereto (in such case without such exhibits and documents), the prospectus contained (including each preliminary prospectus) included in such registration statement (including each preliminary and prospectus supplements and any summary prospectus) all exhibits thereto and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus documents incorporated by reference therein and such other documents as such Selling Holder and seller, underwriter, if any, agent or counsel may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by each such seller;
(ivvi) if requested by the managing underwriter or underwriters of any registration or by the Demanding Holders of a majority of the Registrable Securities held by the Demanding Holders, subject to approval of counsel to the Company in its reasonable judgment, promptly incorporate in a prospectus, supplement or post-effective amendment to the registration statement such information concerning underwriters and the plan of distribution of the Registrable Securities as such managing underwriter or underwriters or such holders shall reasonably furnish to the Company in writing and request be included therein, including, without limitation, with respect to the number of Registrable Securities being sold by such holders to such underwriter or underwriters, the purchase price being paid therefor by such underwriter or underwriters and with respect to any other terms of the underwritten offering of the Registrable Securities to be sold in such offering; and make all required filings of such prospectus, supplement or post-effective amendment as soon as possible after being notified of the matters to be incorporated in such prospectus, supplement or post-effective amendment;
(vii) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or “blue sky sky” laws of such jurisdictions as the holders of a majority of Registrable Securities sought to be registered reasonably request and do any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, all other acts and take any other action things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter the holders of a majority of Registrable Securities sought to be registered to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except holders and keep such registration or qualification in effect for so long as the registration statement remains effective under the Securities Act (provided that the Company shall not for any such purpose be required to (x) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause paragraph, (ivy) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction where it would not otherwise be subject to taxation but for this paragraph or to file a general (z) consent to the general service of process in any such jurisdictionjurisdiction where it would not otherwise be subject to general service of process but for this paragraph);
(vviii) use commercially reasonable efforts notify each seller of such Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon the discovery that, or of the happening of any event as a result of which, the registration statement covering such Registrable Securities, as then in effect, contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or any fact necessary to make the statements therein not misleading, and promptly prepare and furnish to each such seller a supplement or amendment to the prospectus contained in such registration statement (and prepare and file and cause to become effective a post-effective amendment to such registration statement) so that such registration statement shall not, and such prospectus as thereafter delivered to the purchasers of such Registrable Securities shall not, contain an untrue statement of a material fact or omit to state any material fact required to be listed on each securities exchange on which similar securities issued by stated therein or any fact necessary to make the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to statements therein not misleading;
(ix) cause all such Registrable Securities to be listed on the New York Stock Exchange or the Exchange, Nasdaq Stock Market;
Market and/or any other national securities exchange and included in each established over-the-counter market on which or through which similar securities of the Company are listed or traded and, if not so listed or traded, to be listed on the NASD automated quotation system (vi“Nasdaq”) and, if listed on Nasdaq, use commercially its reasonable efforts to cause secure designation of all such Registrable Securities covered by such registration statement as a”national market system security” within the meaning of Regulation NMS under the Exchange Act, or, failing that, to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of secure Nasdaq authorization for such Registrable Securities;
(viix) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any sellerseller of Registrable Securities, any underwriter participating in any disposition pursuant to any such registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibilityCompany, and cause the Company’s officers, directors directors, employees, attorneys and employees independent accountants to supply all information reasonably requested by any such Inspector sellers, underwriters, attorneys, accountants or agents in connection with such registration statement; provided. Information which the Company determines, howeverin good faith, that, to be confidential shall not be disclosed by such persons unless (x) the disclosure of such Records information is necessary to avoid or correct a misstatement or omission in the such registration statement or as otherwise required to be disclosed pursuant to the Securities Act and the rules promulgated thereunder, or (y) the release of such Records information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction. Each seller of Registrable Securities agrees, on its own behalf and on behalf of all its underwriters, accountants, attorneys and agents, that the Company information obtained by it as a result of such inspections shall be deemed confidential and shall not be required to provide used by it as the basis for any information under this subparagraph (viii) if (i) market transactions in the securities of the Company believes, after consultation with counsel for unless and until such is made generally available to the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder public. Each seller of Registrable Securities requesting such information further agrees, on its own behalf and causes each on behalf of all its Inspectorsunderwriters, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; accountants, attorneys and providedagents, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records information is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records information deemed confidential;
(viiixi) promptly notify use its best efforts to comply with all applicable laws related to such registration statement and offering and sale of securities and all applicable rules and regulations of governmental authorities in writing each Selling Holder connection therewith (including, without limitation, the Securities Act and the underwriters, if any, of the following events:
Exchange Act) and make generally available to its security holders as soon as practicable (1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained but in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
later than fifteen (x15) make every reasonable effort to obtain the withdrawal of any order suspending months after the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Company and its subsidiaries complying with Section 11(a) of the Securities Act and Rule 158 thereunderAct;
(xii) cooperate with the sellers permit any Stockholder, which Stockholder, in its sole and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law)exclusive judgment, if necessary or appropriate, representing securities sold under any registration statement, and enable such securities might be deemed to be in such denominations and registered in such names as the managing an underwriter or such sellers may request and keep available and make available to controlling person of the Company’s transfer agent prior , to participate in the effectiveness preparation of such registration statement a supply and to require the insertion therein of material furnished to the Company in writing, which in the reasonable judgment of such certificates as necessary or appropriateholder and such holder’s counsel should be included;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as in the case may beof an underwritten offering, and otherwise use its reasonable best efforts to cooperate as reasonably requested furnish to each seller of Registrable Securities and each underwriter of such offering a signed counterpart of (x) an opinion of counsel for the Company and (y) a comfort letter signed by the Selling Holders independent public accountants who have certified the Company’s financial statements included or incorporated by reference in such registration statement, covering such matters with respect to such registration statement and, in the case of the accountants’ comfort letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s counsel and in accountants’ comfort letters delivered to the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to underwritten public offerings of common stock securities for the account of, or on behalf of, an issuer of common stock, such issuers. In opinion and comfort letters to be dated the date such opinions and comfort letters are customarily dated in such transactions, and covering in the case of such legal opinion, such other legal matters and, in the case of such comfort letter, such other financial matters, as are customarily covered by such legal opinions and comfort letters;
(xiv) not permit any officer, manager, underwriter, broker or any other person acting on behalf of the Company to use any free writing prospectus (as defined in Rule 405 under the Securities Act) in connection with any offering registration statement covering Registrable Securities, without the prior written consent of a majority of Stockholders of Registrable Securities registered pursuant covered in any such registration statement and any underwriter; and
(xv) use reasonable best efforts to this Agreement, have officers of the Company shall furnish participate in “road shows” for any Demand Registration and analyst or investor presentations and such other selling or informational activities as are customary for transactions similar to the underwriter, if any planned disposition of securities requested by the Demanding Holders or the managing underwriter for such offerings.
(or, if no underwriter, xvi) take all such other actions as the sellers holders of such Registrable Securities), unlegended certificates representing ownership a majority of the Registrable Securities being sold (unlessor the underwriters, if any, reasonably request in order to expedite or facilitate the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (JGWPT Holdings Inc.), Registration Rights Agreement (JLL JGW Distribution, LLC)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable its best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2pursuant to SECTION 2 or SECTION 3, the Company shall as promptly as practicable (will use its best efforts to effect the registration and sale of such Registrable Securities in accordance with the intended methods of disposition thereof specified by the Holders participating therein. Without limiting the foregoing, the Company in each casesuch case will, to the extent applicable):as expeditiously as possible:
(ia) prepare and file with the Commission (in the case of a Demand Registration), the requisite registration statement to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under Securities Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use commercially reasonable its best efforts to cause such registration statement to remain effective pursuant to the terms of this Agreementbecome effective; provided, howeverPROVIDED, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that as far in advance as practical before filing such registration statement or any amendments amendment thereto, the Company will furnish to counsel for the counsel selected by the holders Requesting Holders copies of Registrable Securities which are to be included in such registration (“Selling Holders”) copies reasonably complete drafts of all such documents proposed to be filed, which documents will be subject to the review of such counselfiled (including exhibits), and any such review Holder shall have the opportunity to be conducted object to any information pertaining solely to such Holder that is contained therein and the Company will make the corrections reasonably requested by such Holder with reasonable promptnessrespect to such information prior to filing any such registration statement or amendment;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the any prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep maintain the effectiveness of such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by Registrable Securities included in such registration statement statement, in accordance with the intended methods of disposition thereof, until the earlier of (i) such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or and (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 one hundred eighty (180) days after such registration statement becomes effective;
(c) promptly notify each Requesting Holder and the underwriter or underwriters, if any:
(i) when such registration statement or any prospectus used in connection therewith, or any amendment or supplement thereto, has been filed and, with respect to such registration statement or any post-effective amendment thereto, when the same has become effective;
(ii) of any written request by the Commission for amendments or supplements to such registration statement or prospectus;
(iii) of the notification to the Company by the Commission of its initiation of any proceeding with respect to the issuance by the Commission of, or of the issuance by the Commission of, any stop order suspending the effectiveness of such registration statement; and
(iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction;
(d) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by Registrable Securities included in such Selling Holder registration statement such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibitsexhibits and documents incorporated by reference), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 promulgated under the Securities ActAct relating to such Holder's Registrable Securities, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the its Registrable Securities owned by such sellerSecurities;
(ive) use commercially reasonable its best efforts to register or qualify such all Registrable Securities covered by included in such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling each Holder and any underwriter of the securities being sold by such Selling Holder thereof shall reasonably requestrequest and to keep such registration or qualification in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required (i) to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause paragraph (ive) be obligated to be so qualified, or (ii) to subject itself to taxation in any such jurisdiction or to file a general consent to general service of process in any such jurisdiction;
(vf) use commercially reasonable its best efforts to cause such all Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by included in such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) each Holder thereof to consummate the disposition of such Registrable Securities;
(viig) in connection with an Underwritten Offeringto the extent any of the following are obtained by or furnished to the Company or the underwriters, obtain for furnish to each Selling Requesting Holder a signed counterpart, addressed to such Holder (and underwriter:the underwriters, if any), of
(1i) an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten Public Offering, dated the date of any closing under the underwriting agreement), reasonably satisfactory in opinions requested in underwritten offerings form and substance to such other matters as may be reasonably requested by such Selling Holder and underwritersHolder, and
(2ii) a “"cold comfort” letter " letter, dated the effective date of such registration statement (orand, in if such registration includes an underwritten Public Offering, dated the case date of any such Person which does not satisfy closing under the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72underwriting agreement), an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s 's financial statements included in such registration statement, in each case covering substantially the same matters with respect to such registration statement (and the prospectus included therein) as are customarily covered in opinions of issuer's counsel and in accountants' letters delivered to the underwriters in underwritten Public Offerings of securities; and, if necessary, any other independent registered public accountant of any subsidiary in the case of the Company or any business acquired by accountants' letter, with respect to events subsequent to the Company from which date of such financial statements and such other financial data are, matters as such Holder (or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effectivemay reasonably request;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixh) notify each Selling HolderHolder whose Registrable Securities are included in such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, the which any prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein therein, in the light of the circumstances under which they were made, not misleading, and, and at the request of any Selling Holder, such Holder promptly prepare and furnish to such seller Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in the light of the circumstances under which they were made, not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xii) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holdersits securityholders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve (12) months, but not more than 18 eighteen (18) months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder, and not file any amendment or supplement to such Registration Statement or prospectus to which any such seller or any Requesting Holder shall have reasonably objected on the grounds that such amendment or supplement does not comply in all material respects with the requirements of the Securities Act or of the rules or regulations thereunder;
(xiij) cooperate with the sellers and the managing make available for inspection by any Requesting Holder, any underwriter participating in any distribution pursuant to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any such registration statement, and any attorney, accountant or other agent retained by such Holder or underwriter (collectively, the "INSPECTORS"), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the "RECORDS") reasonably necessary to enable the Inspectors to exercise their due diligence responsibility, and cause the Company's officers, directors and employees to supply all information reasonably requested by any such securities to be seller, underwriter, attorney, accountant or agent in connection with such registration statement;
(k) provide a transfer agent and registrar for all Registrable Securities included in such denominations and registered in such names as registration statement not later than the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness effective date of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAstatement; and
(xvil) otherwise use commercially reasonable its best efforts to comply with cause all applicable rules and regulations Registrable Securities included in such registration statement to be listed, upon official notice of issuance, on any securities exchange on which any of the Commission and all reporting requirements under the rules and regulations securities of the Exchange Actsame class as the Registrable Securities are then listed. The Company may require each Selling Holder whose Registrable Securities are being registered to, and each underwritersuch Holder, if anyas a condition to including Registrable Securities in such registration, to shall, furnish the Company in writing and the underwriters with such information and affidavits regarding each Selling such Holder or underwriter and the distribution of such Registrable Securities securities as the Company and the underwriters may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock writing in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon registration. Upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix)paragraph (h) of this SECTION 4, such Selling each Holder shall will forthwith discontinue such Selling Holder’s 's disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto to such Registrable Securities until such Selling Holder’s receipt of Holder receives the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ixparagraph (h) of this SECTION 4 and, if so directed by the Company, shall deliver to the Company, Company (at the Company’s 's expense, ) all copies, other than permanent file copies, then in such Selling Holder’s 's possession of the prospectus relating to such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securitiesnotice. In the event the Company shall give any such notice, any applicable 60-day the period during which such registration statement must remain effective pursuant referred to in paragraph (b) of this Agreement SECTION 4 shall be extended by a number of days equal to the number of days during the period from and including the date of giving of a notice regarding the happening pursuant to paragraph (h) of an event of the kind described in Section 3.6(a)(ix) this SECTION 4 and to and including the date when all each Holder whose Registrable Securities are included in such Selling Holders shall receive such a registration statement receives the copies of the supplemented or amended prospectus and such prospectus shall have been filed with the Commissioncontemplated by paragraph (h) of this SECTION 4.
Appears in 2 contracts
Samples: Registration Rights Agreement (Tunes Com Inc), Registration Rights Agreement (Tunes Com Inc)
Registration Procedures. In the case of each registration, qualification or compliance effected by the Company pursuant to this Section 2, the Company will keep each Holder advised in writing as to the initiation of each registration, qualification and compliance and as to the completion thereof. At its expense the Company will:
(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare Prepare and file with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules securities and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant to for at least one hundred eighty (180) days or until the terms of this Agreement; provided, however, that distribution described in the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessRegistration Statement has been completed;
(iib) prepare Prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein with such registration statement as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have statement. **** Certain information has been disposed of in accordance omitted and filed separately with the intended methods of disposition by Securities and Exchange Commission. Confidential treatment has been requested with respect to the seller or sellers thereof set forth omitted portions.
(c) Furnish to the Holders participating in such registration statement or (i) in and to the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, underwriters of the securities being sold by registered such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such reasonable number of copies of the prospectus contained in such registration statement (including each statement, preliminary prospectus prospectus, final prospectus, amendments and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus supplements thereto and such other documents as such Selling Holder Holders and underwriter, if any, underwriters may reasonably request in order to facilitate the public offering of such securities.
(d) Furnish, at the request of any Holder requesting registration of Registrable Securities on the date such Registrable Securities are delivered to the underwriters for sale or other disposition in connection with a registration pursuant to this Section 2.5, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities owned and (ii) a letter dated such date, from the independent accountants of the Company, in form and substance as is customarily given by such seller;independent accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities.
(ive) use commercially reasonable Use its best efforts to register or and qualify such Registrable Securities the securities covered by such registration statement under such other securities laws or blue sky Blue Sky laws of such jurisdictions jurisdiction as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate requested by the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except Holders; provided that the Company shall not for any such purpose be required in connection therein or as a condition thereto to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;states or jurisdictions.
(vf) use commercially reasonable efforts to cause In the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;offering.
(vig) use commercially reasonable efforts to cause such Notify each Holder of Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Act of the happening of any event as a result of which, which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;misleading in the light of the circumstances then existing, such obligation to continue for one hundred eighty (180) days.
(xh) make every reasonable effort Cause all such Registrable Securities registered pursuant hereunder to obtain be listed on each securities exchange on which similar securities issued by the withdrawal of any order suspending the effectiveness of such registration statement;Company are then listed.
(xii) otherwise use commercially reasonable efforts to comply with Provide a transfer agent and registrar for all applicable rules Registrable Securities registered pursuant hereunder and regulations of the Commissiona CUSIP number for all such Registrable Securities, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but in each case not more later than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of registration. **** Certain information has been omitted and filed separately with the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably Exchange Commission. Confidential treatment has been requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect theretoomitted portions.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Investors’ Rights Agreement, Investors’ Rights Agreement (Yodlee Inc)
Registration Procedures. (a) If and whenever the Company is required under an obligation pursuant to use commercially reasonable efforts the provisions of this Agreement to effect the registration of any Registrable Securities Eligible Shares, the Company shall, as expeditiously as reasonably practicable:
(a) prepare the required registration statement, including all exhibits and financial statements required under the Securities Act as provided in Sections 3.1 to be filed therewith, and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission before filing a registration statement to effect such registrationor prospectus (including a free writing prospectus), cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments or supplements thereto, the Company will furnish to the counsel selected by underwriters, if any, and the holders of Registrable Securities which are to be included Equity Holders participating in such registration (“Selling Holders”) offering, if any, copies of all such documents proposed prepared to be filed, which documents will shall be subject to the review of such counselunderwriters, such Equity Holders and such review to be conducted with reasonable promptnessthe Equity Holders’ Counsel;
(iib) use its commercially reasonable efforts to cause a registration statement that registers such Eligible Shares to become and remain effective for a period of 120 days (subject to any extension provided for in Section 5(c)) or until all of such Eligible Shares have been disposed of (if earlier); provided, however, that in the case of any Shelf Registration, the 120 day period shall be extended, if necessary, to keep the registration statement effective as contemplated by Section 2(d)(iii);
(c) furnish, a reasonable period of time before filing a registration statement that registers such Eligible Shares, a prospectus relating thereto or any amendments or supplements relating to such a registration statement or prospectus to the Equity Holders’ Counsel and fairly consider such reasonable changes in any such documents prior to or after the filing thereof as such Equity Holders’ Counsel may request;
(d) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be (i) reasonably requested by any Eligible Holder participating in such registration (to the extent such request relates to information relating to such Eligible Holder) (ii) necessary to keep such registration statement effective for at least a period of 120 days or until all of such Eligible Shares have been disposed of (if earlier) and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all securities covered by such Eligible Shares; provided, however, that in the case of any Shelf Registration, such 120 day period shall be extended, if necessary, to keep the registration statement until the earlier of such time effective as all of such securities have been disposed of in accordance with the intended methods of disposition contemplated by Section 2(d)(iii), (iii) requested by the seller Eligible Holders (or sellers thereof set forth in such registration statement or (i) required in the case of a Demand Shelf Registration unless the Company elects to suspend use of such registration statement pursuant to Section 3.12(b)), so that the prospectus used in connection with such registration shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing or (iv) requested jointly by the managing underwriter(s) and the Requesting Equity Holders or the Initiating Equity Holders, as applicable, relating to the plan of distribution therein; and, with respect to a Shelf Registration, if during such period the Company ceases to be eligible to continue such Shelf Registration on the original registration statement (whether by virtue of ceasing to be eligible to use Form S-3, by virtue of expiration of 60 days after such registration statement pursuant to Rule 415(a)(5), or otherwise), the Company shall register the applicable shares on a replacement registration statement, which shall be on Form S-3 if the Company is then eligible for such registration statement or, otherwise, on Form S-1, and shall continue such Shelf Registration, and amend and supplement such replacement registration statement from time to time, as required by this Agreement;
(e) notify the Equity Holders’ Counsel and each participating Equity Holder in writing (i) when the applicable registration statement or any amendment thereto has been filed or becomes effective, and when any applicable prospectus or any amendment or supplement thereto has been filed, (ii) in of the case receipt by the Company of a Piggyback Registration pursuant any notification with respect to Section 3.2, any comments by the expiration of 60 days after SEC with respect to such registration statement becomes effectiveor prospectus or any amendment or supplement thereto or any request by the SEC for the amending or supplementing thereof or for additional information with respect thereto, (iii) of the receipt by the Company of any notification with respect to the issuance by the SEC of any stop order suspending the effectiveness of such registration statement or prospectus or any amendment or supplement thereto or the initiation or threatening of any proceeding for that purpose, and (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of such Eligible Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purposes; and, upon occurrence of any of the events mentioned in clauses (iii) and (iv) use its reasonable best efforts to prevent the issuance of any stop order or obtain the withdrawal thereof as soon as possible;
(iiif) use its commercially reasonable efforts to register or qualify such Eligible Shares under such other securities or blue sky laws of such jurisdictions as the Eligible Holders reasonably request and do any and all other acts and things which may be reasonably necessary or advisable to enable the Eligible Holders to consummate the disposition in such jurisdictions of the Eligible Shares owned by the Equity Holders; provided, however, that the Company will not be required to qualify to do business, subject itself to taxation or consent to general service of process in any jurisdiction, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;
(g) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder Eligible Holders such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case case, including all exhibits), such number of copies of the prospectus prospectus, if any, contained in such registration statement (or other prospectus, including each a preliminary prospectus and or any summary free writing prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivh) without limiting Section 5(f) above, use commercially its reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement Eligible Shares to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company to enable the Selling Holder(sEligible Holders (to the extent the Eligible Holders then hold such Eligible Shares) thereof to consummate the disposition of such Registrable SecuritiesEligible Shares;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) notify the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into Eligible Holders on a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, timely basis at any time when a prospectus relating thereto to such Eligible Shares is required to be delivered under the Securities Act, Act upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances then existing;
(xj) make every provide a transfer agent and registrar (which may be the same entity) for such Eligible Shares and a CUSIP number for such Eligible Shares, in each case no later than the effective date of such registration statement;
(k) use its commercially reasonable effort efforts to cause all such Eligible Shares registered pursuant to this Agreement to be listed on any national securities exchange on which any shares of the Common Stock are listed, or, if the Common Stock is not then listed, use its reasonable efforts to list such Eligible Shares on a national securities exchange;
(l) use its reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or the use of any preliminary or final prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xvm) reasonably cooperate with each Eligible Holder and assist each underwriter, and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. Authority (“FINRA”), and any securities exchange on which such Eligible Shares are traded or will be traded;
(n) and take no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, however, that to the extent that any prohibition is applicable to the Company, the Company will take such action as is necessary to make any such prohibition inapplicable;
(o) in the performance case of any due diligence investigation by any underwriter an offering pursuant to a registration that is required not an Underwritten Offering, cooperate with the sellers of Eligible Shares to facilitate the timely preparation and delivery of certificates, to the extent permitted by applicable law, not bearing any restrictive legends representing the Eligible Shares to be undertaken sold, and cause such Eligible Shares to be issued in such denominations and registered in such names in accordance with the rules and regulations instructions of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership Eligible Shares prior to any sale of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested Eligible Shares and instruct any transfer agent and registrar of the Registrable Securities Eligible Shares to release any stop transfer order orders in respect thereof in accordance with respect thereto.applicable law;
(cp) make such representations and warranties to the Eligible Holders participating in such offering and the underwriters or agents, if any, in form, substance and scope as are customarily made by issuers in secondary Underwritten Offerings;
(q) obtain for delivery to the Eligible Holders participating in such offering and to the underwriter(s), if any, an opinion or opinions from counsel for the Company dated the effective date of the registration statement or, in the event of an Underwritten Offering, the date of the closing under the underwriting agreement, in customary form, scope and substance, which opinions shall be reasonably satisfactory to the Equity Holders or underwriters, as the case may be, and their respective counsel;
(r) make available upon reasonable notice at reasonable times and for reasonable periods for inspection by any Equity Holder, by any underwriter participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by such Equity Holders (including the Equity Holders’ Counsel) or any such underwriter in connection with such registration statement (collectively, “Representatives”), all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees and the independent public accountants who have certified its financial statements to make themselves available to discuss the business of the Company and to supply all information reasonably requested by any such Person or its Representatives in connection with such registration statement (collectively, “Confidential Information”) as shall be necessary to enable them to exercise their due diligence responsibility; provided that any such Person or Representative gaining access to Confidential Information pursuant to this Section 5(r) shall agree to hold in strict confidence and shall not make any disclosure or use any Confidential Information, unless (w) the release of such information is requested or required by law or by deposition, interrogatory, requests for information or documents by a governmental entity, subpoena or similar process (provided that such Person shall give prompt and timely written notice prior to such release, to the extent permitted by law, and shall reasonably cooperate with the Company should the Company, at the Company’s sole expense, desire to seek a protective order prior to disclosure), (x) such information is or becomes publicly known other than through a breach of this or any other agreement of which such Person has knowledge after inquiry, (y) such information is or becomes available to such Person on a non-confidential basis from a source other than the Company who is not known by such Person, after inquiry, to be prohibited or restricted from disclosing such information to such Person by contractual, legal or fiduciary obligation or (z) such information is independently developed by such Person without the use of or access to any Confidential Information, and each Person shall be responsible for any breach of the terms of this Section 5(r) by such Person or its Representatives, and shall take all appropriate steps to safeguard Confidential Information from disclosure, misuse, espionage, loss and theft; and
(s) provide and cause to be maintained a transfer agent and registrar for all Eligible Shares covered by the applicable registration statement from and after a date not later than the effective date of such registration statement. Each Selling Holder agrees that Eligible Holder, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix)5(i) hereof, such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities the Eligible Shares pursuant to the applicable registration statement and prospectus relating thereto covering such Eligible Shares until such Selling Holderholder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix5(i) hereof (provided that, in the case of a Shelf Registration, if such suspension lasts for longer than ten (10) consecutive business days, it shall count as a suspension for purposes of the limits set forth in Section 2(a)(ii)(2)) and Section 2(d)(iv), and, if so directed by the Company, deliver to the Company, at the Company’s expense, such Eligible Holder shall destroy all copies, other than permanent file copies, copies then in such Selling Holderholder’s possession possession, of the prospectus current covering such Eligible Shares at the time of receipt of such notice relating notice. If the disposition by any Eligible Holder of its securities is discontinued pursuant to such Registrable Securities. In the event foregoing sentence, the Company shall give such notice, any applicable 60-day extend the period during which such of effectiveness of the registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from and including the date of the giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to and including the date when all such Selling Holders Eligible Holder shall receive have received, in the case of Section 5(e)(iv), notice from the Company that such a stop order or suspension of effectiveness is no longer in effect and, in the case of Section 5(i), copies of the supplemented or amended prospectus and such prospectus shall have been filed with the Commissioncontemplated by Section 5(i).
Appears in 2 contracts
Samples: Registration Rights Agreement (Velocity Financial, Inc.), Securities Purchase Agreement (Velocity Financial, Inc.)
Registration Procedures. (a) If and whenever the The Company is required obligated to use commercially reasonable efforts to effect do the registration following:
(i) As soon as is reasonably practicable following the written request (a “Registration Request”) of any the holders of a majority of the Registrable Securities under (as defined below) subject to this Agreement, calculated on an as-converted, as-exercised basis (the “Majority Holders”) to register all or a portion of such Registrable Securities Act as provided with the SEC, but in Sections 3.1 and 3.2no event later than ninety (90) calendar days after the receipt of such Registration Request (the “Filing Deadline”), the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission SEC a registration statement on Form S-3 (the “Initial Shelf Registration Statement”) (unless the Company is not then eligible to effect such registrationregister any securities for resale on Form S-3, cause such in which case on another appropriate form which provide for resale by the Purchasers in accordance with any reasonable method of distribution elected by the Purchasers) to register with the SEC the resale solely by the Purchasers (except to the extent any registration statement rights granted prior to become effective at the earliest possible date permitted under of this Agreement would otherwise require the rules and regulations inclusion of shares of Common Stock owned by another shareholder therein) on a delayed or continuous basis pursuant to Rule 415 of the CommissionSecurities Act, and thereafter use commercially reasonable efforts including by way of underwritten offering, block sale or other distribution plan designated by the Majority Holders, from time to cause such registration statement time, through Nasdaq or the facilities of any national securities exchange on which the Company’s Common Stock is then traded, or in privately negotiated transactions, of (x) the Conversion Shares, (y) the Warrant Shares, including any shares of Common Stock issued or issuable upon the exercise of any additional Warrants issued to remain effective the Purchasers pursuant to the terms of this Agreement; providedSection 9, howeverand (z) any Common Stock to be issued as (or issuable upon the conversion or exercise of any Preferred Stock, warrant, right or other security that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; providedis issued as) a dividend or other distribution with respect to, further that before filing such registration statement or any amendments theretoin exchange for or in replacement of, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange Conversion Shares or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter Warrant Shares (collectively, the “InspectorsRegistrable Securities”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any ) specified in such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or Registration Request.
(ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of Notwithstanding the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, (A) the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but is not inconsistent with permitted by the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect SEC to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership include all of the Registrable Securities being sold (unless, specified in such Registration Request in the Company’s sole discretionInitial Shelf Registration Statement under then applicable rules and regulations (including without limitation Rule 415 promulgated under the Securities Act or any successor rule thereto), (B) the inclusion of such Registrable Securities are in such Initial Shelf Registration Statement would result in a Purchaser being deemed to be issued an underwriter in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar resale of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the Initial Shelf Registration Statement under then applicable registration statement rules and prospectus relating thereto until such Selling Holder’s receipt of regulations (including without limitation Rule 415 promulgated under the copies of Securities Act or any successor rule thereto) or (C) the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event Purchasers and the Company shall give such noticeotherwise agree, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.then:
Appears in 2 contracts
Samples: Note Purchase Agreement (TCV Vii Lp), Note Purchase Agreement (Xata Corp /Mn/)
Registration Procedures. (a) If and whenever the Company is required to use its commercially reasonable efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Section 2, the Company shall will, as promptly soon as practicable (in each case, to the extent applicable):practicable:
(i) 2.6.1. prepare and file with the Commission a SEC the requisite registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules Registrable Securities and regulations of the Commission, and thereafter use its commercially reasonable efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnesseffective;
(ii) 2.6.2. prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective until the completion of the distribution of the Registrable Securities covered by such registration statement) and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveperiod;
(iii) 2.6.3. furnish to each Selling Holder seller of such Registrable Securities and each underwriter, if any, of the securities being sold by such Selling Holder underwriter such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), and such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder seller may reasonably request;
2.6.4. promptly notify each Shareholder that holds Registrable Securities covered by such registration statement, (i) when such registration statement or any post-effective amendment or supplement thereto becomes effective, (ii) of the issuance by the SEC or any state securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of such registration statement (and take all reasonable action to prevent the entry of such stop order or to remove it if entered, or the initiation of any proceedings for that purpose), or (iii) of the happening of any event as a result of which the registration statement, as then in effect, the prospectus related thereto or any document included therein by reference includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances under which they were made and promptly file such amendments and supplements which may be required on account of such event and use its commercially reasonable efforts to cause each such amendment and supplement to become effective;
2.6.5. promptly furnish counsel for each underwriter, if any, may reasonably and for the selling Shareholders of Registrable Securities, copies of any written request in order by the SEC or any state securities authority for amendments or supplements to facilitate the public sale a registration statement and prospectus or other disposition of the Registrable Securities owned by such seller;for additional
(iv) 2.6.6. use commercially reasonable efforts to register or qualify obtain the withdrawal of any order suspending the effectiveness of a registration statement at the earliest possible time;
2.6.7. use commercially reasonable efforts to cause all such Registrable Securities covered by such registration statement to be listed on the principal securities exchange, or authorized for quotation on NASDAQ, on which similar equity securities issued by the Company are then listed or authorized for quotation, or eligible for listing or quotation, if the listing or authorization for quotation of such securities is then permitted under the rules of such exchange or the NASD;
2.6.8. enter into an underwriting agreement with the underwriter of such offering in the form customary for such underwriter for similar offerings, including such representations and warranties by the Company, provisions regarding the delivery of opinions of counsel for the Company and accountants’ letters, provisions regarding indemnification and contribution, and such other terms and conditions as are at the time customarily contained in such underwriter’s underwriting agreements for similar offerings (the sellers of Registrable Securities which are to be distributed by such underwriter(s) may, at their option, require that any or all of the representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such underwriter(s) shall also be made to and for the benefit of such sellers of Registrable Securities);
2.6.9. make available for inspection by representatives of the selling Shareholders who hold Registrable Securities and any underwriters participating in any disposition pursuant hereto and any counsel or accountant retained by such Shareholders or underwriters, all relevant financial and other records, pertinent corporate documents and properties of the Company and cause the respective officers, directors and employees of the Company to supply all information reasonably requested by any such representative, underwriter, counsel or accountant in connection with a registration pursuant hereto; provided, however, that, with respect to records, documents or information which the Company determines, in good faith, to be confidential and as to which the Company notifies such representatives, underwriters, counsel or accountants in writing of such confidentiality, such representatives, underwriters, counsel or accountants shall not disclose such records, documents or information unless (i) the release of such records, documents or information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (ii) such records, documents or information have previously been generally made available to the public, or (iii) the disclosure of such records, documents or information is necessary, in the written opinion of outside legal counsel, to avoid or correct a material misstatement or omission in the registration statement and then only after reasonable request has been made to the Company to make such disclosure and the Company has denied such request. Each selling Shareholder of such Registrable Securities agrees that information obtained by it as a result of such inspections shall be deemed confidential and shall not be used by it as the basis for any market transactions in the securities laws of the Company or its Affiliates (or for such Shareholder’s business purposes or for any reason other than in connection with a registration hereunder) unless and until such information is made generally available (other than by such Shareholder or where such Shareholder knows that such information became publicly available as a result of a breach of any confidentiality arrangement) to the public. Each selling Shareholder of such Registrable Securities further agrees that it will, upon learning that disclosure of such records is sought, give notice to the Company and allow the Company, at its expense, to undertake appropriate action to prevent disclosure of the records deemed confidential;
2.6.10. permit any beneficial owner of Registrable Securities who, in the sole judgment, exercised in good faith, of such holder, might be deemed to be a controlling person of the Company, to participate in the preparation of such registration or comparable statement and to require the insertion therein of material, furnished to the Company in writing, that in the judgment of such holder, as aforesaid, should be included; and
2.6.11. make reasonably available its employees and personnel, and otherwise provide reasonable assistance, to the underwriters (taking into account the needs of the Company’s businesses and the requirements of the marketing process) in the marketing of Registrable Securities in any underwritten offering. The Company may require each seller of Registrable Securities as to which any registration is being effected to furnish the Company such information regarding such seller and the distribution of such securities as the Company may from time to time reasonably request in writing. The Company shall not be required to register or qualify any Registrable Securities covered by such registration statement under any state securities, or blue sky sky, laws of such jurisdictions other than as any Selling Holder and any underwriter it deems necessary in connection with the chosen method of the securities being sold by such Selling Holder shall reasonably request, and distribution or to take any other action which may be reasonably actions or do any other things other than those it deems necessary or advisable to enable consummate such Selling Holder distribution, and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) otherwise be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to general service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder Each beneficial owner of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in subclauses (ii) and (iii) of Section 3.6(a)(ix)2.6.4, such Selling Holder shall beneficial owner will forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holderbeneficial owner’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) 2.6.4, and, if so directed by the Company, such beneficial owner will deliver to the Company, Company (at the Company’s expense, ) all copies, other than permanent file copies, copies then in such Selling Holderbeneficial owner’s possession possession, of the prospectus current at the time of receipt of covering such notice relating Registrable Securities that was in effect prior to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented amendment or amended prospectus and such prospectus shall have been filed with the Commissionsupplement.
Appears in 2 contracts
Samples: Merger Agreement (Workstream Inc), Merger Agreement (Workstream Inc)
Registration Procedures. (a) If and whenever the Company is required to effect or use commercially its reasonable best efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Agreement, the Company shall as promptly as practicable will promptly:
(a) prepare and, in each case, any event within 45 days after the end of the period within which a request for registration may be given to the extent applicable):
(i) prepare and Company, file with the Commission SEC a registration statement with respect to effect such registration, Registrable Securities and use its reasonable best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations within 90 days of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessinitial filing;
(iib) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement (including Exchange Act documents incorporated by reference into the registration statement) and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for a period not in excess of 90 days (or such longer period not to exceed two years as may be requested by the Holders in the event of a shelf registration statement) and to comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement; provided, that before filing a registration statement or prospectus, or any amendments or supplements thereto in accordance with Sections 4.3(a) or (i) in b), the case of a Demand Registration Company will furnish to counsel selected pursuant to Section 3.14.8 hereof copies of all documents proposed to be filed, which documents will be subject to the expiration review of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivecounsel;
(iiic) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by such Selling Holder Registrable Securities such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibitsexhibits filed therewith, including any documents incorporated by reference), such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivd) use commercially its reasonable best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of in such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderseller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not where, but for the requirements of this clause subsection (iv) d), it would not be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to general service of process in any such jurisdiction;
(ve) use commercially its reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;
(viif) in connection with an Underwritten Offering, obtain for notify each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case seller of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed Registrable Securities covered by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, Company’s becoming aware that the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holdersuch seller, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to an amended or an amendment of such supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xig) otherwise use commercially its reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as practicable, an earnings statement covering the period of at least 12 months, reasonably practicable (but not more than 18 months, beginning with the first day of the Company’s first full quarter ) after the effective date of such the registration statement, which an earnings statement which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderAct;
(xiih) (i) use its reasonable best efforts to list such Registrable Securities on any securities exchange on which the Common Stock is then listed if such Registrable Securities are not already so listed and if such listing is then permitted under the rules of such exchange; and (ii) use its best efforts to provide a transfer agent and registrar for such Registrable Securities covered by such registration statement not later than the effective date of such registration statement;
(i) enter into such customary agreements (including an underwriting agreement in customary form), which may include indemnification provisions in favor of underwriters and other Persons in addition to, or in substitution for the provisions of Section 4.5 hereof, and take such other actions as sellers of a majority of shares of such Registrable Securities or the underwriters, if any, reasonably requested in order to expedite or facilitate the disposition of such Registrable Securities;
(j) in the case of an underwritten registration, obtain a “cold comfort” letter or letters from the Company’s independent public accounts in customary form and covering matters of the type customarily covered by “cold comfort” letters as the seller or sellers of a majority of shares of such Registrable Securities shall reasonably request;
(k) make available for inspection by any seller of such Registrable Securities covered by such registration statement, by any underwriter participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by any such underwriter and by counsel selected pursuant to Section 4.8 hereof, all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement;
(l) notify counsel (selected pursuant to Section 4.8 hereof) for the Holders of Registrable Securities included in such registration statement and the managing underwriter or agent, immediately, and confirm the notice in writing (i) when the registration statement, or any post-effective amendment to the registration statement, shall have become effective, or any supplement to the prospectus or any amendment to the prospectus shall have been filed, (ii) of the receipt of any comments from the SEC, (iii) of any request of the SEC to amend the registration statement or amend or supplement the prospectus or for additional information, and (iv) of the issuance by the SEC of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus, or of the suspension of the qualification of the registration statement for offering or sale in any jurisdiction, or of the institution or threatening of any proceedings for any of such purposes;
(m) make reasonable best efforts to prevent the issuance of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus and, if any such order is issued, to obtain the withdrawal of any such order as soon as practicable;
(n) if requested by the managing underwriter or agent or any Holder of Registrable Securities covered by the registration statement, promptly incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or agent or such Holder reasonably requests to be included therein, including, with respect to the number of Registrable Securities being sold by such Holder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent and with respect to any other terms of the underwritten offering of the Registrable Securities to be sold in such offering; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or post-effective amendment;
(o) cooperate with the sellers Holders of Registrable Securities covered by the registration statement and the managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, legends) representing securities to be sold under any the registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or agent, if any, or such sellers Holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriaterequest;
(xiiip) have appropriate officers obtain for delivery to the Holders of Registrable Securities being registered and to the underwriter or agent an opinion or opinions from counsel for the Company prepare in customary form and make presentations at any “road shows” in form, substance and before analysts scope reasonably satisfactory to such Holders, underwriters or agents and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securitiestheir counsel;
(xivq) if requested by any Selling Holders cooperate with each seller of Registrable Securities and each underwriter or any underwriter, promptly incorporate agent participating in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, disposition of such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate Securities and assist their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. NASD;
(“FINRA”r) and in use its reasonable best efforts to make available the performance executive officers of any due diligence investigation by any underwriter that is required the Company to be undertaken in accordance participate with the rules Holders of Registrable Securities and regulations any underwriters in any “road shows” or other selling efforts that may be reasonably requested by the underwriters in connection with the methods of distribution for the FINRARegistrable Securities; and
(xvis) otherwise use commercially reasonable efforts if at any time a shelf registration statement requested to comply with all applicable rules and regulations be used by the Holders to dispose of the Commission and all reporting requirements under Registrable Securities ceases to be effective before the rules and regulations end of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company two year effective period for shelf registration statements set forth in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriterSection 4.3(b), the Company shall enter into use its reasonable best efforts to file and cause to become effective a new shelf registration statement to remain effective for a two year period plus an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish additional period equal to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such a registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionwas not effective.
Appears in 2 contracts
Samples: Securityholders Agreement (Lightyear Fund, L.P.), Securityholders Agreement (Goldleaf Financial Solutions Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Section 4.1 or 4.2, the Company shall will, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and Prepare and, in any event within 60 calendar days after the end of the period within which requests for registration may be given to the Company, (or in the event that the Company has postponed a registration statement pursuant to Section 4.1(a), not later than 30 days after the date to which the Company postponed such registration statement), file with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules Registrable Securities and regulations of the Commission, and thereafter use its commercially reasonable best efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreementeffective; provided, howeverthat in the case of a 14 Shareholders Agreement registration provided for in Section 4.1 or 4.2, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such a registration statement or prospectus or any amendments theretoor supplements thereof, the Company will furnish to the one counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) Resolute Investors copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel; and, and such review provided, further, that the Company may discontinue any registration of its securities that is being effected pursuant to be conducted Section 4.2 at any time prior to the effective date of the registration statement relating thereto in accordance with reasonable promptness;the terms hereof.
(ii) prepare Prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for at least nine months (or until all the shares are sold) and to comply with the provisions of the Securities Act with respect to the disposition of all securities shares of Common Stock covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;statement.
(iii) furnish Furnish to each Selling Holder holder of Registrable Securities covered by the registration statement and to each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits)Registrable Securities, such number of copies of the a final prospectus contained in such registration statement (including each and preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, for delivery in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, Person may reasonably request request, in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;Securities.
(iv) use Use its commercially reasonable best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderseller, in such jurisdictions, except that the Company shall not for any such purpose be required (A) to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not where, but for the requirements of this clause (iv) be obligated to be Section 4.3(a)(iv), it is not then so qualified, or (B) to subject itself to taxation in any such jurisdiction jurisdiction, or (C) to file a take any action which would subject it to general consent to or unlimited service of process in any such jurisdiction;jurisdiction where it is not then so subject.
(v) use Use its commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;.
(viivi) in connection with an Underwritten Offering, obtain for Immediately notify each Selling Holder and underwriter:
(1) an opinion seller of counsel for the Company, covering the matters customarily Registrable Securities covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities ActAct within the appropriate period mentioned in Section 4.3(a)(ii), upon discovery that, or upon if the happening of any event as a result of which, Company becomes aware that the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the 15 Shareholders Agreement statements therein not misleadingmisleading in the light of the circumstances then existing, and, at the request of any Selling Holdersuch seller, promptly prepare and furnish to such seller deliver a reasonable number of copies of a supplement to an amended or an amendment of such supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;misleading in the light of the circumstances then existing.
(xvii) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise Otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the Commission, SEC and make generally available to Selling Holdersits security holders, in each case as promptly soon as practicable, but not later than 45 calendar days after the close of the period covered thereby (90 calendar days in case the period covered corresponds to a fiscal year of the Company), an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, Company which earnings statement shall will satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;Act.
(xiiviii) cooperate Use its commercially reasonable best efforts in cooperation with the sellers and the managing underwriter underwriters to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary list such Registrable Securities on each securities exchange or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names NASDAQ as the managing underwriter or such sellers they may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;reasonably designate.
(xiiiix) have appropriate officers of In the Company prepare and make presentations at any “road shows” and before analysts and rating agenciesevent the offering is an Underwritten Offering, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested by obtain a "cold comfort" letter from the Selling Holders independent public accountants for the Company and a legal opinion letter from counsel to the underwriters Company, each in the offering, marketing or selling customary form and covering such matters of the Registrable Securities;type customarily covered by such letters.
(xivx) if requested by any Selling Holders or any underwriter, promptly incorporate Execute and deliver all instruments and documents (including in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist an Underwritten Offering an underwriting agreement in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”customary form) and take such other actions and obtain such certificates and opinions in the performance of any due diligence investigation by any underwriter that is required order to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution effect an underwritten Public Offering of such Registrable Securities.
(xi) Provide a transfer agent and registrar for all Registrable Securities as registered pursuant hereto and a CUSIP number for all such Registrable Securities, in each case not later than the Company may from time to time reasonably request to complete or amend the information required by effective date of such registration statementregistration.
(b) Without limiting any of the foregoing, in the event that the offering Each holder of Registrable Securities is to be made by or through an underwriterwill, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix4.3(a)(vi), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of the Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holder’s holder's receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix4.3(a)(vi).
(c) andIn connection with the Company's initial Public Offering, each Shareholder agrees, whether or not such Shareholder's Shares are included in such registration, not to effect any public sale or distribution, including any sale pursuant to Rule 144 under the Securities Act, of any shares of Common Stock, or of any security convertible into or exchangeable or exercisable for Common Stock (other than as part of such Underwritten Offering), without the consent of the Managing Underwriter, during a period commencing seven calendar days before 16 Shareholders Agreement and ending 180 calendar days (or such lesser number as the Managing Underwriter shall designate) after the effective date of such registration.
(d) If a registration pursuant to Section 4.1 or 4.2 involves an Underwritten Offering, the Company agrees, if so directed required by the CompanyManaging Underwriter, deliver not to effect any public sale or distribution of any of its equity securities, as the case may be, or securities convertible into or exchangeable or exercisable for any of such equity securities, as the case may be, during a period commencing seven calendar days before and ending 180 calendar days after the effective date of such registration, except for such Underwritten Offering or except in connection with a registration statement with respect to a stock option plan, stock purchase plan, savings or similar plan, or an acquisition, merger or exchange offer.
(e) If a registration pursuant to Section 4.1 or 4.2 involves an Underwritten Offering, any holder of Registrable Securities requesting to be included in such registration may elect, in writing, prior to the Companyeffective date of the registration statement filed in connection with such registration, at not to register such securities in connection with such registration, unless such holder has agreed with the Company’s expenseCompany or the Managing Underwriter to limit its rights under this Section 4.3.
(f) It is understood that in any Underwritten Offering, in addition to any shares of Common Stock (the "Initial Shares") the underwriters have committed to purchase, the underwriting agreement may grant the underwriters an option to purchase up to a number of additional shares of authorized but unissued Common Stock (the "Option Shares") equal to up to 15% of the initial shares (or such other maximum amount as the NASD may then permit), solely to cover over-allotments. Common Stock proposed to be sold by the Company and the other sellers shall be allocated between Initial Shares and Option Shares as agreed by the Company and such other sellers or, in the absence of agreement, pursuant to Section 4.1(g) or 4.2(d), as the case may be. The number of Initial Shares and Option Shares to be sold by requesting holders shall be allocated pro rata among all copies, other than permanent file copies, then such holders on the basis of the relative number of shares of Registrable Securities each such holder has requested to be included in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionregistration.
Appears in 2 contracts
Samples: Shareholder Agreement (TAL International Group, Inc.), Shareholder Agreement (Edgewater Private Equity Fund III, L.P.)
Registration Procedures. (a) If and whenever the Company is required ----------------------- by the provisions of Sections 1.2 and 1.3 or 1.4 to effect the registration of shares of Registrable Securities under the Securities Act, the Company will use commercially reasonable its best efforts to effect the registration and sale of any such Registrable Securities under in accordance with the Securities Act as provided in Sections 3.1 and 3.2intended methods of disposition specified by the holders participating therein. Without limiting the foregoing, the Company shall as promptly as practicable (in each casesuch case will, to the extent applicable):as expeditiously as possible,:
(ia) prepare and file with the Commission (in the case of a demand registration pursuant to Section 1.2 or Section 1.4) the requisite registration statement to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under Securities Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use commercially reasonable its best efforts to cause such registration statement to remain effective pursuant to the terms of this Agreementbecome effective; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that as -------- ------- far in advance as practical before filing such registration statement or any amendments amendment thereto, the Company will furnish to counsel for the counsel selected by the requesting holders copies of Registrable Securities which are to be included in such registration (“Selling Holders”) copies reasonably complete drafts of all such documents proposed to be filed, which documents will be subject to the review of such counselfiled (including exhibits), and any such review holder shall have the opportunity to be conducted object to any information pertaining solely to such holder that is contained therein and the Company will make the corrections reasonably requested by such holder with reasonable promptnessrespect to such information prior to filing any such registration statement or amendment;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the any prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep maintain the effectiveness of such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by Registrable Securities included in such registration statement statement, in accordance with the intended methods of disposition thereof, until the earlier of (i) such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or and (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 one hundred eighty (180) days after such registration statement becomes effective;
(c) promptly notify each requesting holder and the underwriter or underwriters, if any:
(i) when such registration statement or any prospectus used in connection therewith, or any amendment or supplement thereto, has been filed and, with respect to such registration statement or any post- effective amendment thereto, when the same has become effective;
(ii) of any written request by the Commission for amendments or supplements to such registration statement or prospectus;
(iii) of the notification to the Company by the Commission of its initiation of any proceeding with respect to the issuance by the Commission of, or of the issuance by the Commission of, any stop order suspending the effectiveness of such registration statement; and
(iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction;
(d) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by Registrable Securities included in such Selling Holder registration statement such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 promulgated under the Securities ActAct relating to such seller's Registrable Securities, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the its Registrable Securities owned by such sellerSecurities;
(ive) use commercially reasonable its best efforts to register or qualify such all Registrable Securities covered by included in such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter each holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably requestrequest within twenty (20) days following the original filing of such registration statement and to keep such registration or qualification in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderholder, except that the Company shall not for any such purpose be required (i) to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause paragraph (ive) be obligated to be so qualified, (ii) to consent to general service of process in any such jurisdiction or (iii) to subject itself to taxation in any such jurisdiction by reason of such registration or to file a general consent to service of process in any such jurisdictionqualification;
(vf) use commercially reasonable its best efforts to cause such all Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by included in such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) each holder thereof to consummate the disposition of such Registrable Securities;
(viig) in connection with an Underwritten OfferingIf and to the extent any of the following are obtained by or furnished to the Company or the underwriters, obtain for each Selling Holder furnish to any holder who so requests a signed counterpart, addressed to such holder (and underwriter:the underwriters, if any), of
(1i) an opinion of counsel for the Company, covering dated the matters customarily covered in opinions requested in effective date of such registration statement (or, if such registration includes an underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwritersPublic Offering, dated the date of any closing under the underwriting agreement), and
(2ii) a “"cold comfort” letter " letter, dated the effective date of such registration statement (orand, in if such registration includes an underwritten Public Offering, dated the case date of any such Person which does not satisfy closing under the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72underwriting agreement), an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s 's financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless that the disclosure of such Records is necessary obligation to avoid or correct furnish a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company "cold comfort" letter -------- ------- shall not only be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable imposed to the Company; and provided, further, that each Holder extent permitted under any then-prevailing rules of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidentialaccounting procedure;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixh) notify each Selling Holderholder whose Registrable Securities are included in such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, the which any prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein therein, in the light of the circumstances under which they were made, not misleading, and, and at the request of any Selling Holder, such holder promptly prepare and furnish to such seller holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in the light of the circumstances under which they were made, not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xii) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the Commission, ;
(j) provide a transfer agent and make available to Selling Holders, as promptly as practicable, an earnings registrar for all Registrable Securities included in such registration statement covering the period of at least 12 months, but not more later than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvik) otherwise use commercially reasonable its best efforts to comply with cause all applicable rules and regulations Registrable Securities included in such registration statement to be listed, upon official notice of issuance, on any securities exchange or quotation system on which any of the Commission and all reporting requirements under the rules and regulations securities of the Exchange Act. same class as the Registrable Securities are then listed.
(l) The Company may require each Selling Holder holder whose Registrable securities are being registered to, and each underwritersuch holder, if anyas a condition to including Registrable Securities in such registration, to shall, furnish the Company in writing and the underwriters with such information and affidavits regarding each Selling Holder or underwriter such holder and the distribution of such Registrable Securities securities as the Company and the underwriters may from time to time reasonably request to complete or amend in writing in connection with such registration. At any time during the effectiveness of any registration statement covering Registrable Securities offered by a holder, if such holder becomes aware of any change materially affecting the accuracy of the information required by contained in such registration statementstatement or the prospectus (as then amended or supplemented) relating to such holder, it will immediately notify the Company of such change.
(bm) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon Upon receipt of any notice from the Company of the happening of any event of the kind described in paragraph (h) of this Section 3.6(a)(ix)1.5, such Selling Holder shall each holder will forthwith discontinue such Selling Holder’s holder's disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto to such Registrable Securities until such Selling Holder’s receipt of holder receives the copies of the supplemented or amended prospectus contemplated by paragraph (h) of this Section 3.6(a)(ix) 1.5 and, if so directed by the Company, shall deliver to the Company, at the Company’s expense, Company all copies, other than permanent file copies, then in such Selling Holder’s holder's possession of the prospectus relating to such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Fieldworks Inc), Purchase Agreement for Series a Convertible Preferred Stock (Fieldworks Inc)
Registration Procedures. In the case of each Registration effected by ----------------------- the Company pursuant to Section 2, the Company will keep each Holder participating therein advised in writing as to the initiation of each Registration and as to the completion thereof. At its expense (except as otherwise provided in Section 2.4 above) the Company will use its best efforts to:
(a) If and whenever keep such registration, qualification or compliance pursuant to Sections 2.1, 2.2 or 2.3 effective for a period of 180 days or until the Company is required to use commercially reasonable efforts to effect Holder or Holders have completed the distribution described in the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2statement relating thereto, the Company shall as promptly as practicable (in each case, to the extent applicable):whichever first occurs;
(ib) furnish such number of prospectuses and other documents incident thereto as a Holder from time to time may reasonably request;
(c) prepare and file with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein with such registration statement as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until within the earlier of such time as all of such securities have been disposed of period referred to in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective2.5(a);
(iiid) furnish to notify each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto covered by such registration statement is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain misleading in the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations light of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAcircumstances then existing; and
(xvie) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of furnish, at the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition requesting registration of Registrable Securities pursuant to this Section 2, on the applicable date that such Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Section 2, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the registration statement with respect to such securities becomes effective, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders whose Registrable Securities are included in such registration statement and prospectus relating thereto until (ii) if such Selling Holder’s receipt securities are being sold through underwriters, a letter dated such date, from the independent certified public accountants of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionunderwriters.
Appears in 2 contracts
Samples: Investor Rights Agreement (Network Access Solutions Corp), Investor Rights Agreement (Network Access Solutions Corp)
Registration Procedures. (a) If Subject to the limitations set forth elsewhere herein, if and whenever the Company is required by the provisions of this Agreement to use commercially reasonable its best efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Agreement, the Company shall will, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) in the case of a registration under Section 2.2 hereof, prepare and file with the Commission SEC (such filing to be made within 60 days after the initial request by the requesting Holders pursuant to Section 2.2(a) a registration statement with respect to effect such registration, cause Registrable Securities on a form appropriate to permit such registration statement Holders to become effective at sell the earliest possible date permitted under the rules Proposed Amount in accordance with such Holders' intended method of distribution and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnesseffective;
(iib) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for such period as shall be requested by the Holders owning the Proposed Amount, which period shall not exceed twelve (12) months and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all securities covered by such registration statement during such period;; provided, however, that if such registration has been effected pursuant to Form S-3 (or any successor form), then such period of effectiveness shall be until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, 24 months or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, date that the expiration of 60 days after such registration statement becomes effectiveoffering is completed or terminated;
(iiic) furnish to each Selling Holder a single firm of counsel, initially Steel Xxxxxx & Xxxxx LLP, or such other counsel thereafter designated by the Holders who hold a majority of the Registrable Securities being sold (the "Holder's Counsel"), and each underwriter, if any, underwriter of the securities being sold by such Selling Holder Holders, at least 5 days prior to the filing thereof, such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, counsel may reasonably request request, in substantially the form in which they are proposed to be filed with the SEC, in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerHolders;
(ivd) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any each underwriter of the securities being sold by such Selling Holder Holders shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder Holders and such underwriter to consummate the disposition in such jurisdictions of the such Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not where, but for the requirements of this clause (iv) d), it would not be obligated to be so qualified, to or subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable its best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixf) notify each Selling Holderthe Holders owning the Proposed Amount, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, Company's becoming aware that the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances then existing, and, at the request of any Selling Holder, and promptly prepare and furnish to such seller Holders and each underwriter a reasonable number amount of copies of a prospectus supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xig) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling the Holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s 's first full calendar quarter after the effective date of such the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderAct;
(xiih) cooperate with enter into such agreements (including an underwriting agreement in customary form) and take such other actions as the sellers and the managing underwriter Holders shall reasonably request in order to expedite or facilitate the timely preparation disposition of such Registrable Securities;
(i) to use its best efforts to furnish to the Holders owning the Proposed Amount an opinion from the Company's counsel and delivery of certificates a "cold comfort" letter from the Company's independent public accountant (which shall not bear any restrictive legends unless required under applicable lawin accordance with SAS 72), if necessary addressed to such Holders, in customary form and covering such matters of the type customarily covered by such opinions and "cold comfort" letters, in each case for the type of offering contemplated (i.e., underwritten or appropriateself-underwritten), representing securities sold under as such Holders shall reasonably request;
(j) make available for inspection by the Holders, by any other underwriter participating in any disposition to be effected pursuant to such registration statement, and by any attorney, accountant or other agent retained by such Holders or any such underwriter, all reasonably pertinent financial and other records, reasonably pertinent corporate documents and properties of the Company, and cause all of the Company's officers, directors, employees and the independent public accountants who have audited its financial statements to supply all information reasonably requested by such Holders or any such underwriter, attorney, accountant or agent in connection with such registration statement; provided, however, that each such Holder and each such representative of such Holder, underwriter, attorney, accountant or agent must execute and deliver to the Company a confidentiality agreement in form and substance reasonably acceptable to the Company agreeing to keep any such information and records concerning the Company confidential;
(k) permit such Holders to participate in the preparation of such registration or comparable statement;
(l) at or prior to the effective date of the registration use commercially reasonable efforts to cause all Registrable Securities covered by such Registration Statement to be (i) listed on each securities exchange, if any, on which similar securities issued by the Company are then listed or (ii) authorized to be quoted on the National Association of Securities Dealers Automated Quotation System if the securities so qualify and if the Company does not then have similar securities listed on any national securities exchange; and
(m) in the case of an underwritten offering, enable such securities the Registrable Securities to be in such denominations or such number of shares and registered in such names as the managing underwriter or such sellers underwriters may request and keep available and make available to the Company’s transfer agent at least two business days prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling sale of the Registrable Securities;
(xiv) if requested . In the case of an underwritten offering, the underwriters shall be selected by any Selling the Company and reasonably acceptable to such Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to owning a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” majority of the Proposed Amount of Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriterHolders owning the Proposed Amount shall, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix)subdivision (f) above, such Selling Holder shall forthwith discontinue such Selling Holder’s its disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holder’s Holders' receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) said subdivision and, if so directed by the Company, will deliver to the Company, Company (at the Company’s 's expense, ) all copies, other than permanent file copies, then in such Selling Holder’s Holders' possession of the prospectus covering such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securitiesnotice. In the event the Company shall give any such notice, any applicable 60-day the period during which such registration statement must remain effective pursuant to this Agreement mentioned in subdivision (b) above shall be extended by the number of days during the period from and including the date of the giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to and including the date when all such Selling Holders shall receive such a have received the copies of the supplemented or amended prospectus contemplated by subdivisions (f) above. The Holders shall enter into such customary agreements as requested by the Company in connection with the registration of securities as contemplated by this Agreement. The Holders shall furnish to the Company in writing such information and documents regarding such prospectus Holders and the distribution of such securities as may be required to be disclosed in the registration statement in question by the rules and regulations under the Securities Act or under any other applicable securities or blue sky laws of the jurisdictions referred to in Section 2.3(d) hereof. The Company may exclude from such registration the Registrable Securities of any Holder that fails to furnish such information within a reasonable time after receiving such request. If any such registration or comparable statement refers to any Holder by name or otherwise as the holder of any securities of the Company then such Holder shall have been filed with the Commissionright to require (i) the insertion therein of language, in form and substance satisfactory to such Holder and presented to the Company in writing, to the effect that the holding by such Holder of such securities is not to be construed as a recommendation by such Holder of the investment quality of the Company's securities covered thereby and that such holding does not imply that such Holder will assist in meeting any future financial requirements of the Company, or (ii) in the event that such reference to such Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force, the deletion of the reference to such Holder.
Appears in 2 contracts
Samples: Registration Rights Agreement (General Electric Capital Corp), Registration Rights Agreement (Hi Rise Recycling Systems Inc)
Registration Procedures. (a) If and whenever the Company Seller is required to use commercially reasonable efforts by the ------------------------ provisions of this Article VII to effect the registration of any Registrable Securities of Purchaser's securities under the Securities Act Act, Seller will, as provided in Sections 3.1 and 3.2, the Company shall expeditiously as promptly as practicable (in each case, to the extent applicable):possible:
(ia) promptly prepare and file with the Commission a registration statement with respect to effect such registration, securities and cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant for a period of time required for the disposition of such securities by the Holders thereof, but not to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to exceed three months from the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessthereof;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in a public offering or the expiration of three months, and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition by the seller or sellers thereof Holders of such securities set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivestatement;
(iiic) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), Holders such number of copies of such registration statement, each amendment and supplement thereto, and the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), all in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, Holders may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(ivd) notify such Holders promptly after Seller shall receive notice thereof, of the time when such registration statement became effective or when any amendment or supplement to any prospectus forming a part thereof has been filed;
(e) notify such Holders promptly of any request by the Commission for the amending or supplementing of such registration statement or prospectus forming a part thereof or for additional information;
(f) advise such Holders after Seller shall receive notice or otherwise obtain knowledge of the issuance of any order by the Commission suspending the effectiveness of such registration statement or amendment thereto or of the initiation or threatening of any proceeding for that purpose, and promptly use its best efforts to prevent the issuance of any stop order or to obtain its withdrawal promptly if such stop order should be issued;
(g) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement securities under such other securities laws or blue sky laws of such jurisdictions within the United States and Puerto Rico as any Selling each Holder and (or any underwriter on behalf of such Holder) of such securities shall request (provided that Seller shall not be obligated to qualify as a foreign corporation to do business under the securities being sold by such Selling Holder shall reasonably requestlaws of any jurisdiction in which it is not then qualified or to file any general consent to service of process), and take any do such other action which reasonable acts and things as may be reasonably necessary or advisable required of it to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions jurisdiction of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdictionsecurities;
(vh) use commercially reasonable efforts to cause such Registrable Securities to be listed furnish on each securities exchange on which similar securities issued by the Company are then listed and, if no date that such securities are so listeddelivered to underwriters for sale pursuant to such registration or, use commercially reasonable efforts to cause if such Registrable Securities to be listed securities are not being sold through underwriters, on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by date that such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
becomes effective, (vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1i) an opinion dated such date, of the independent counsel representing Seller for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure purposes of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdictionregistration, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable addressed to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, and, if such securities are not being sold through underwriters, then to the Holder making such request, in customary form and covering matters of the following events:type customarily covered in such legal opinions and (ii) a comfort letter dated such date, from the independent certified public accountants of Seller, addressed to such underwriters, if any, and, if such securities are not being sold through underwriters, then to the Holder making such request in a customary form and covering matters of the type customarily covered by such comfort letters as such underwriters or such Holder, as the case may be, shall reasonably request;
(1i) enter into customary agreements (including one or more underwriting agreements in customary form) and take such other actions as are reasonably required or reasonably requested by such Holders or any underwriter on behalf thereof in order to expedite or facilitate the filing disposition of such securities;
(j) use its best efforts to comply with all applicable rules and regulations of the Commission, and make available to its security holders, as soon as reasonably practicable, but not later than 18 months after the effective date of such registration statement, an earnings statement covering the prospectus or any prospectus supplement related theretoperiod of at least 12 months beginning with the first full month after the effective date of such registration statement, any Issuer Free Writing Prospectus or post-effective amendment to which earnings statements shall satisfy the registration statement andprovisions of Section 11(a) of the Securities Act (including, with respect to at the registration statement or any post-effective amendment theretooption of Seller, when the same has become effectiveRule 158);
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixk) notify each Selling Holder, such Holders at any time when a prospectus relating thereto to such registration statement is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, the prospectus included in which such registration statement, as then in effect, includes statement contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling such Holder, promptly prepare and furnish a supplement or amendment to such seller a reasonable number of copies of a supplement to or an amendment of registration statement so that such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall registration statement will not include contain an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading;
(xl) make every cause all shares of Common Stock being so registered to be listed on each securities exchange on which similar securities issued by Seller are then listed or, if similar securities are not then listed, take all reasonable effort action either to obtain list such shares on a securities exchange or to facilitate the withdrawal trading of any order suspending the effectiveness of such registration statement;securities on the Nasdaq National Market; and
(xim) otherwise use commercially reasonable efforts to comply with provide a transfer agent and registrar for all applicable rules and regulations shares of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but Common Stock being so registered not more later than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement . It shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available a condition precedent to the Company’s transfer agent prior obligation of Seller to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at take any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered action pursuant to this Agreement, Article VII in respect of the Company shall furnish securities which are to be registered at the underwriter, if request of any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership Holder of the Registrable Securities being sold (unless, in the Company’s sole discretion, that such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue furnish to Seller such Selling Holder’s information regarding the securities held by such Holder and the intended method of disposition of Registrable Securities pursuant to the applicable registration statement thereof as Seller shall reasonably request and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement as shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described required in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed connection with the Commissionaction taken by Seller. Seller may reasonably rely upon any such information so furnished by a Holder.
Appears in 2 contracts
Samples: Common Stock Purchase Agreement (International Computex Inc), Common Stock Purchase Agreement (International Computex Inc)
Registration Procedures. If and whenever (a) If and whenever the Company is required to use commercially reasonable its best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 2 and 3.23 or (b) there is a Requesting Holder in connection with any other proposed registration by the Company under the Securities Act, the Company shall will as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a the requisite registration statement to effect (including such registration, cause such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under Securities Act or the rules and regulations of the Commission, promulgated thereunder) to effect such registration and thereafter use commercially reasonable its best efforts to cause such registration statement to remain effective pursuant become effective, provided that before filing such registration statement or any amendments thereto, the Company will furnish to the terms counsel selected by the holders of this Agreement; Registrable Securities whose Registrable Securities are to be included in such registration copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and provided, howeverfurther, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep maintain the effectiveness of such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of (A) such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or and (iB) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 120 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant except with respect to Section 3.2, the expiration of 60 days after any such registration statement becomes effectivefiled pursuant to Rule 415 (or any successor Rule) under the Securities Act, in which case such period shall be 2 years;
(iii) furnish to each Selling Holder seller of Registrable Securities covered by such registration statement and each underwriter, if any, of the securities being sold by such Selling Requesting Holder such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(iv) use commercially reasonable its best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder each seller thereof and any underwriter of the securities being sold by such Selling each Requesting Holder shall reasonably request, to keep such registration or qualification in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderseller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use commercially reasonable its best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offering, obtain for furnish to each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting and each Requesting Holder a signed counterpart, addressed to such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
seller (viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Securities Purchase Agreement (General Housing Inc), Note and Warrant Purchase Agreement (General Housing Inc)
Registration Procedures. Subject to the other terms and conditions hereof whenever any Stockholder has issued a Demand or a Response Demand pursuant to Section 3.2 above or has requested an incidental registration pursuant to Section 3.3 above, the Company shall, as soon as reasonably possible:
(a) If and whenever the Company is required to use commercially Use its reasonable best efforts to effect cause the applicable registration of statements to become effective within any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):applicable time frames prescribed herein;
(ib) prepare Prepare and file with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement statements and the prospectus prospectus(es) used in connection therewith and any Exchange Act reports incorporated by reference therein therewith, which prospectus(es) are to be filed pursuant to Rule 424 under the Securities Act, as may be necessary to keep such registration statement statements effective for a period of ninety (90) days or until such securities, in the opinion of counsel to the Company, are permitted to be distributed pursuant to Rule 144(k) or otherwise pursuant to Rule 144 without regard to any volume limitation (or if the volume limitation would permit distribution and to sale of all securities of the Company held by a Stockholder in a single three-month period) and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of statements during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement statements or (i) supplements to such prospectuses. In the event sales of Registrable Securities of the Stockholders are suspended as provided in the case of a Demand Registration pursuant to Section 3.13.5(b), the expiration of 60 days after such 90-day period during which a registration statement becomes effective, or (ii) in must be kept effective shall be extended for the case total number of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveduring which sales are suspended;
(iiic) furnish Furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits)Stockholders without charge, such number of copies of such registration statements, each amendment and supplement thereto, the prospectus contained prospectus(es) included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Actstatements, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, the Stockholders may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned (the Company consents to the use of such prospectuses or any amendment or supplement thereto by the Stockholders in connection with the offering and sale of the Registrable Securities covered by such sellerprospectuses or any amendment or supplement thereto); and furnish to the Stockholders, without charge, at least one conformed copy of the registration statement or statements and any post-effective amendments thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits (including those incorporated by reference);
(ivd) use commercially Use its reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as the Stockholders reasonably request and do any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, all other acts and take any other action things which may be reasonably necessary or advisable to (i) keep such registration or qualification effective during the period such registration statement is required to be kept effective and (ii) enable such Selling Holder and underwriter the Stockholders to consummate the disposition in such jurisdictions of the Registrable Securities owned by the Stockholders;
(e) Notify the Stockholders, promptly, and if requested, confirm such Selling Holderadvice in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, except and, with respect to a registration statement or any post-effective amendment, when the same has become effective, (ii) of any request by the SEC for amendments or supplements to a registration statement or related prospectus or for additional information, (iii) of the existence of material information that has not been disclosed to the public and included in the registration statement if it is necessary to amend the registration statement or the prospectus included in such registration statement, and, at the request of the Stockholders, the Company will, as soon as reasonably practicable, prepare a supplement or amendment to such registration statement or prospectus so that such registration statement or prospectus will not contain any untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading in light of the circumstances then existing (provided, that in the case of a shelf registration on Form S-3 or equivalent form the foregoing shall not for obligate the Company to disclose any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein fact or circumstance earlier than it would not but for have been disclosed by the requirements Company in the ordinary course of business absent this clause Agreement or any similar obligation or to amend to the registration statement during any time when the Company's officers and directors are prohibited from buying or selling the Company's Common Stock pursuant to the Company's xxxxxxx xxxxxxx policy), and (iv) of the Company's reasonable determination that a post-effective amendment to a registration statement would be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdictionappropriate;
(vf) use commercially reasonable efforts to cause Cause all such Registrable Securities to be listed on each securities exchange and inter-dealer quotation system on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) and pay all fees and expenses in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, therewith; and
(2g) a “comfort” letter (or, in Advise the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) Stockholders promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, after the Company shall not be required to provide any information under this subparagraph (viii) if have received notice or obtained knowledge of (i) the Company believesissuance of any stop order by the SEC suspending the effectiveness of such registration statements or the initiation or threatening of any proceeding for such purposes and will use its reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal if such stop order should be issued, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, purposes and will promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially its reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of prevent such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), suspension or have such suspension lifted if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to it should be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementeffected.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Stockholders and Registration Rights Agreement (Shorewood Packaging Corp), Stockholders and Registration Rights Agreement (Shorewood Packaging Corp)
Registration Procedures. (a) If If, and whenever in each case when, the Company is required to use commercially reasonable efforts to effect the a registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Section 3, the Company shall as promptly as practicable promptly:
(a) prepare and, in each case, any event within 45 days (30 days in the case of a Form S-3 registration) after the end of the period under Section 3.2.1(a) within which a piggyback request for registration may be given to the extent applicable):
(i) prepare and Company, file with the Commission a registration statement with respect to effect such registration, Registrable Securities and use its best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations within 90 days of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessinitial filing;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for a period not in excess of 270 days (or such shorter period which will terminate when all Registrable Securities covered by such registration statement have been sold) and to comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement; provided that before filing a registration statement or (i) prospectus, or any amendments or supplements thereto in accordance with Sections 3.1 or 3.2, the case of a Demand Registration Company will furnish to counsel selected pursuant to Section 3.13.3.3 hereof copies of all documents proposed to be filed and will afford such counsel a reasonable opportunity to review, the expiration of 60 days after and provide comments with respect to, such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivedocuments;
(iiic) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by such Selling Holder Registrable Securities such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibitsexhibits filed therewith), such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivd) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of in such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderseller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not where, but for the requirements of this clause (iv) d), it would not be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause seller of any such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, Company’s becoming aware that the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holdersuch seller, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to an amended or an amendment of such supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xif) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holdersits security holders, as promptly soon as practicable, an earnings statement covering the period of at least 12 months, reasonably practicable (but not more than 18 months, beginning with the first day of the Company’s first full quarter ) after the effective date of such the registration statement, which an earnings statement which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderAct;
(xiig) (i) if such Registrable Securities are Common Stock (including Common Stock issuable upon conversion, exchange or exercise of another security), use its best efforts to list such Registrable Securities on any securities exchange on which the Common Stock is then listed if such Registrable Securities are not already so listed; and (ii) use its best efforts to provide a transfer agent and registrar for such Registrable Securities covered by such registration statement not later than the effective date of such registration statement;
(h) enter into such customary agreements (including an underwriting agreement in customary form), which may include indemnification provisions in favor of underwriters and other Persons in addition to the provisions of Section 3.4 hereof, and take such other actions as the Principal Participating Holders or the underwriters, if any, reasonably requested in order to expedite or facilitate the disposition of such Registrable Securities;
(i) obtain a “cold comfort” letter or letters from the Company’s independent public accountants in customary form and covering matters of the type customarily covered by “cold comfort” letters as the Principal Participating Holders shall reasonably request;
(j) make available for inspection by any seller of such Registrable Securities covered by such registration statement, by any managing underwriter or underwriters participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by any such seller or any such managing underwriter(s), all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement (subject to each party referred to in this clause (j) entering into customary confidentiality agreements in a form reasonably acceptable to the Company);
(k) notify counsel (selected pursuant to Section 3.3.3 hereof) for the Holders of Registrable Securities included in such registration statement and the managing underwriter or agent, immediately, and confirm the notice in writing (i) when the registration statement, or any post-effective amendment to the registration statement, shall have become effective, or any supplement to the prospectus or any amendment to the prospectus shall have been filed, (ii) of the receipt of any comments from the Commission, (iii) of any request of the Commission to amend the registration statement or amend or supplement the prospectus or for additional information, and (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus, or of the suspension of the qualification of the registration statement for offering or sale in any jurisdiction, or of the institution or threatening of any proceedings for any of such purposes;
(l) use its best efforts to prevent the issuance of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus and, if any such order is issued, to obtain the withdrawal of any such order as soon as practicable;
(m) if requested by the managing underwriter or agent or any Holder of Registrable Securities covered by the registration statement, incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or agent or such Holder reasonably requests to be included therein, including, with respect to the number of Registrable Securities being sold by such Holder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent and with respect to any other terms of the underwritten offering of the Registrable Securities to be sold in such offering; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or post-effective amendment;
(n) cooperate with the sellers Holders of Registrable Securities covered by the registration statement and the managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, legends) representing securities to be sold under any the registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or agent, if any, or such sellers Holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriaterequest;
(xiiio) have appropriate officers obtain for delivery to the Holders of Registrable Securities being registered and to the underwriter or agent an opinion or opinions from counsel for the Company prepare in customary form and make presentations at any “road shows” in form, substance and before analysts scope reasonably satisfactory to such Holders, underwriters or agents and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securitiestheir counsel;
(xivp) if requested by any Selling Holders cooperate with each seller of Registrable Securities and each underwriter or any underwriter, promptly incorporate agent participating in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, disposition of such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate Securities and assist their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xviq) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations make available the executive officers of the Commission and all reporting requirements under Company to participate with the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering Holders of Registrable Securities is to and any underwriters in any “road shows” that may be made reasonably requested by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock Holders in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership distribution of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect theretoSecurities.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Michaels Companies, Inc.), Registration Rights Agreement (Michaels Companies, Inc.)
Registration Procedures. (a) If and whenever In connection with the obligations of ----------------------- the Company is required with respect to use commercially reasonable efforts the Registration Statements pursuant to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 2(a) and 3.22(b) hereof, the Company shall as promptly as practicable (in each case, to the extent applicable):shall:
(ia) prepare and file with the Commission SEC a registration statement to effect such registrationRegistration Statement, cause such registration statement to become effective at within the earliest possible date permitted time period specified in Section 2, on the appropriate form under the rules and regulations 1933 Act, which form (i) shall be selected by the Company, (ii) shall, in the case of a Shelf Registration, be available for the sale of the Commission, Transfer Restricted Notes by the selling Holders thereof and thereafter (iii) shall comply as to form in all material respects with the requirements of the applicable form and include or incorporate by reference all financial statements required by the SEC to be filed therewith and use commercially reasonable its best efforts to cause such registration statement Registration Statement to become effective and remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted accordance with reasonable promptnessSection 2 hereof;
(iib) prepare and file with the Commission SEC such amendments (including and post-effective amendments) and supplements amendments to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein each Registration Statement as may be necessary under applicable law to keep such registration statement Registration Statement effective for the applicable period; cause each Prospectus to be supplemented by any required prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the 1933 Act; and in the case of a Shelf Registration Statement or Broker Shelf Registration Statement comply with the provisions of the Securities 1933 Act with respect to the disposition of all securities covered by such registration statement until each Registration Statement during the earlier of such time as all of such securities have been disposed of applicable period in accordance with the intended method or methods of disposition distribution by the seller or sellers thereof set forth in such registration statement or selling Holders thereof;
(ic) in the case of a Demand Shelf Registration, (i) notify each Holder of Transfer Restricted Notes, at least five business days prior to filing, that a Shelf Registration pursuant Statement with respect to Section 3.1the Transfer Restricted Notes is being filed and advising such Holders that the distribution of Transfer Restricted Notes will be made in accordance with the method elected by the Majority Holders; provided that this clause (i) shall not apply with respect to regular filings of any document or report under the Exchange Act, at any time following the expiration effectiveness of 60 days after the applicable Registration Statement hereunder, where such registration statement becomes effective, or filing is made as part of the Company's periodic disclosure obligations under Sections 13 and 15 of the Exchange Act; and (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder of Transfer Restricted Notes, to counsel for the Initial Purchaser, to counsel for the Holders and to each underwriterunderwriter of an underwritten offering of Transfer Restricted Notes, if any, of the securities being sold by such Selling Holder such number of conformed without charge, as many copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits)Prospectus, such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities ActProspectus, and any Issuer Free Writing Prospectus amendment or supplement thereto and such other documents as such Selling Holder or underwriter may reasonably request, including financial statements and underwriterschedules and, if anythe Holder so requests, may reasonably request all exhibits (including those incorporated by reference) in order to facilitate the public sale or other disposition of the Registrable Securities owned Transfer Restricted Notes; and (iii) subject to the penultimate paragraph of this Section 3, hereby consent to the use of the Prospectus, including each preliminary Prospectus, or any amendment or supplement thereto by such sellereach of the selling Holders of Transfer Restricted Notes in connection with the offering and sale of the Transfer Restricted Notes covered by the Prospectus or any amendment or supplement thereto;
(ivd) use commercially its reasonable best efforts to register or qualify such Registrable Securities covered by such registration statement the Transfer Restricted Notes under such other all applicable state securities laws or "blue sky sky" laws of such jurisdictions as any Selling Holder of Transfer Restricted Notes covered by a Registration Statement and any each underwriter of the securities being sold by such Selling Holder an underwritten offering of Transfer Restricted Notes shall reasonably requestrequest by the time the Registration Statement is declared effective by the SEC, to cooperate with the Holders in connection with any filings required to be made with the NASD and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in each such jurisdictions jurisdiction of the Registrable Securities such Transfer Restricted Notes owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, that the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information qualify as a foreign corporation or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained as a dealer in securities in any filing with the Commission or documents provided supplementally or jurisdiction where it would not otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior be required to furnishing any such information with respect to (iqualify but for this Section 3(d) or (ii) take any action which would subject it to general service of process or taxation in any such holder jurisdiction if it is not then so subject;
(e) in the case of Registrable Securities requesting such information agreesa Shelf Registration, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that notify each Holder of Registrable Securities agrees that it willTransfer Restricted Notes and counsel for such Holders promptly and, upon learning that disclosure of if requested by such Records is sought in a court of competent jurisdictionHolder or counsel, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify confirm such advice in writing each Selling Holder promptly (i) when a Registration Statement has become effective and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or when any post-effective amendment thereto, when the same has amendments and supplements thereto become effective;
, provided that this clause (2i) shall not apply with respect to regular filings of any document or report under the Exchange Act, at any time following the effectiveness of the applicable Registration Statement hereunder, where such filing is made as part of the Company's periodic disclosure obligations under Sections 13 and 15 of the Exchange Act; (ii) of any request by the Commission SEC or any state securities authority for post- effective amendments or and supplements to the registration statement or the prospectus a Registration Statement and Prospectus or for additional information;
information after the Registration Statement has become effective, (3iii) of the issuance by the Commission SEC or any state securities authority of any stop order suspending the effectiveness of the registration statement a Registration Statement or the initiation of any proceedings by any Person for that purpose;
, (4iv) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities the Transfer Restricted Notes for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
, (ixv) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event or the discovery of any facts during the period a Shelf Registration Statement is effective (including as a result of which, the prospectus included contemplated in Section 2(d)(iii) hereof) which makes any statement made in such registration statement, as then Registration Statement or the related Prospectus untrue in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein respect or necessary which requires the making of any changes in such Registration Statement or Prospectus in order to make the statements therein not misleading, and, at the request misleading and (vi) of any Selling Holder, promptly prepare and furnish determination by the Company that a post-effective amendment to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may Registration Statement would be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiiif) have appropriate officers (A) in the case of the Company prepare and make presentations at any “road shows” and before analysts and rating agenciesExchange Offer, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters (i) include in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to Exchange Offer Registration Statement a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “"Plan of Distribution” " section covering the use of the Registrable Securities;
Prospectus included in the Exchange Offer Registration Statement by broker-dealers who have exchanged their Transfer Restricted Notes for Exchange Notes for the resale of such Exchange Notes, (xvii) cooperate furnish to each broker-dealer who desires to participate in the Exchange Offer, without charge, as many copies of each Prospectus included in the Exchange Offer Registration Statement, including any preliminary Prospectus, and assist any amendment or supplement thereto, as such broker-dealer may reasonably request, (iii) include in the Exchange Offer Registration Statement a statement that any filings required broker-dealer who holds Transfer Restricted Notes acquired for its own account as a result of market-making activities or other trading activities (a "Participating Broker-Dealer"), and who --------------------------- receives Exchange Notes for Transfer Restricted Notes pursuant to the Exchange Offer, may be made a statutory underwriter and must deliver a prospectus meeting the requirements of the 1933 Act in connection with the Financial Industry Regulatory Authorityany resale of such Exchange Notes, Inc. (“FINRA”iv) subject to Section 2(d)(iii) and in the performance penultimate paragraph of any due diligence investigation by any underwriter that is required Section 3, hereby consent to be undertaken in accordance with the rules and regulations use of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations Prospectus forming part of the Exchange Act. The Company may require each Selling Holder Offer Registration Statement or any amendment or supplement thereto, by any broker-dealer in connection with the sale or transfer of the Exchange Notes covered by the Prospectus or any amendment or supplement thereto, and each underwriter(v) include in the transmittal letter or similar documentation to be executed by an exchange offeree in order to participate in the Exchange Offer the following provision: "If the undersigned is not a broker-dealer, if anythe undersigned represents that it is not engaged in, and does not intend to furnish the Company in writing such information regarding each Selling Holder or underwriter and the engage in, a distribution of such Registrable Securities Exchange Notes. If the undersigned is a broker-dealer that will receive Exchange Notes for its own account in exchange for Transfer Restricted Notes, it represents that the Transfer Restricted Notes to be exchanged for Exchange Notes were acquired by it as a result of market-making activities or other trading activities and acknowledges that it will deliver a prospectus meeting the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any requirements of the foregoing, 1933 Act in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers resale of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form Exchange Notes pursuant to the customary arrangements for issuing shares in such form)Exchange Offer; however, in such denominations as requested by so acknowledging and instruct any transfer agent and registrar by delivering a prospectus, the undersigned will not be deemed to admit that it is an "underwriter" within the meaning of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.1933 Act;"
Appears in 2 contracts
Samples: Notes Registration Rights Agreement (United Rentals Inc /De), Notes Registration Rights Agreement (Wyne Systems Inc)
Registration Procedures. (a) If and whenever Whenever the Company is required to use commercially reasonable efforts to effect Purchaser requests the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Agreement, the Company shall use its reasonable best efforts to register and permit the sale of the Registrable Securities in accordance with the intended method of disposition, and to effect such registration and any related qualification or compliance with respect to all Registrable Securities held by the Purchaser. If the Company is not eligible to use Form S-3 at the time of filing, and the Company subsequently becomes eligible to use Form S-3, the Company shall file, as promptly as practicable reasonably practicable, a new Registration Statement on Form S-3 covering the resale of the Registrable Securities and replace the Registration Statement on Form S-1 with the new Registration Statement on Form S-3 upon the effectiveness of the new Registration Statement on Form S-3.
(in each case, to the extent applicable):b) The Company shall use its best efforts to:
(i) prepare and file with the Commission SEC such amendments and supplements to the Registration Statement and the Prospectus used in connection therewith as may be necessary or advisable to keep the Registration Statement current and effective for the Registrable Securities held by the Purchaser for a period ending on the earlier of (i) the date on which all Registrable Securities may be sold pursuant to Rule 144 under the Securities Act or any successor rule (“Rule 144”) during any three-month period without the requirement for the Company to be in compliance with the current public information required under Rule 144(c)(1), or (ii) such time as all Registrable Securities have been sold pursuant to a registration statement to effect such registrationor Rule 144. The Company shall notify the Purchaser promptly upon the Registration Statement and each post-effective amendment thereto, cause such registration statement to become being declared effective by the SEC and advise the Purchaser that the form of Prospectus contained in the Registration Statement or post-effective amendment thereto, as the case may be, at the earliest possible date permitted time of effectiveness meets the requirements of Section 10(a) of the Securities Act or that it intends to file a Prospectus pursuant to Rule 424(b) under the rules and regulations Securities Act that meets the requirements of Section 10(a) of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessAct;
(ii) prepare and file with furnish to the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act Purchaser with respect to the disposition of all securities covered by such registration statement until Registrable Securities registered under the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), Statement such number of copies of the prospectus contained in such registration statement Registration Statement and the Prospectus (including each preliminary prospectus and any summary prospectussupplemental prospectuses) and any other prospectus filed under Rule 424 under with the Securities Act, SEC in conformity conformance with the requirements of the Securities Act, Act and any Issuer Free Writing Prospectus and other such other documents as such Selling Holder and underwriter, if any, the Purchaser may reasonably request request, in order to facilitate the public sale or other disposition of all or any of the Registrable Securities owned by such sellerthe Purchaser;
(iii) make any necessary blue sky filings;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of pay the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued expenses incurred by the Company are then listed andand the Purchaser in complying with Section 5, if no such securities are so listedincluding, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such all registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offeringand filing fees, obtain for each Selling Holder FINRA fees, exchange listing fees, printing expenses, fees and underwriter:
(1) an opinion disbursements of counsel for the Company, covering blue sky fees and expenses and the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case expense of any special audits incident to or required by any such Person which does not satisfy registration (but excluding attorneys’ fees of the conditions for receipt Purchaser and any and all underwriting discounts and selling commissions applicable to the sale of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed Registrable Securities by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statementPurchaser);
(3v) advise the Purchaser, promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant after it shall receive notice or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties obtain knowledge of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order by the SEC delaying or suspending the effectiveness of the registration statement Registration Statement or of the initiation of any proceedings by any Person proceeding for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, and it will promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by prevent the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance issuance of any due diligence investigation by any underwriter that is required stop order or to obtain its withdrawal at the earliest possible moment if such stop order should be undertaken in accordance with the rules and regulations of the FINRAissued; and
(xvivi) otherwise use commercially reasonable efforts with a view to comply with all applicable rules making available to the Purchaser the benefits of Rule 144 and regulations any other rule or regulation of the Commission and all reporting requirements under SEC that may at any time permit the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, Purchaser to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such sell Registrable Securities as to the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriterpublic without registration, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements agrees to: (i) make and keep public information available, as such term is understood and defined in Rule 144, until the earlier of the Company contained herein(A) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership date as all of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are qualify to be issued in uncertificated form resold immediately pursuant to Rule 144 or any other rule of similar effect during any three-month period without the customary arrangements requirement for issuing shares the Company to be in compliance with the current public information required under Rule 144(c)(1) or (B) such form), in such denominations date as requested and instruct any transfer agent and registrar all of the Registrable Securities shall have been resold pursuant to release Rule 144 (and may be further resold without restriction); (ii) file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and under the Exchange Act; and (iii) furnish to the Purchaser upon request, as long as the Purchaser owns any stop transfer Registrable Securities, (A) a written statement by the Company as to whether it has complied with the reporting requirements of the Securities Act and the Exchange Act, (B) a copy of the Company’s most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other information as may be reasonably requested in order with respect thereto.
(c) Each Selling Holder agrees that upon receipt to avail the Purchaser of any notice from rule or regulation of the SEC that permits the selling of any such Registrable Securities without registration. The Company understands that the Purchaser disclaims being an underwriter, but acknowledges that a determination by the SEC that the Purchaser is deemed an underwriter does not relieve the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionobligations it has hereunder.
Appears in 2 contracts
Samples: Common Stock Purchase Agreement (NANOPHASE TECHNOLOGIES Corp), Common Stock Purchase Agreement (NANOPHASE TECHNOLOGIES Corp)
Registration Procedures. (a) If and whenever the Company is required under an obligation pursuant to use commercially reasonable efforts the provisions of this Agreement to effect the registration of any Registrable Securities Eligible Shares, the Company shall, as expeditiously as reasonably practicable:
(a) prepare the required registration statement, including all exhibits and financial statements required under the Securities Act as provided in Sections 3.1 to be filed therewith, and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission before filing a registration statement to effect such registrationor prospectus (including a free writing prospectus), cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments or supplements thereto, the Company will furnish to the counsel selected by underwriters, if any, and the holders of Registrable Securities which are to be included Equity Holders participating in such registration (“Selling Holders”) offering, if any, copies of all such documents proposed prepared to be filed, which documents will shall be subject to the review of such counselunderwriters, such Equity Holders and such review to be conducted with reasonable promptnessthe Equity Holders’ Counsel;
(iib) use its commercially reasonable efforts to cause a registration statement that registers such Eligible Shares to become and remain effective for a period of 120 days (subject to any extension provided for in Section 5(c)) or until all of such Eligible Shares have been disposed of (if earlier); provided, however, that in the case of any Shelf Registration, the 120 day period shall be extended, if necessary, to keep the registration statement effective as contemplated by Section 2(d)(iii);
(c) furnish, a reasonable period of time before filing a registration statement that registers such Eligible Shares, a prospectus relating thereto or any amendments or supplements relating to such a registration statement or prospectus to the Equity Holders’ Counsel and fairly consider such reasonable changes in any such documents prior to or after the filing thereof as such Equity Holders’ Counsel may request;
(d) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be (i) reasonably requested by any Eligible Holder participating in such registration (to the extent such request relates to information relating to such Eligible Holder) (ii) necessary to keep such registration statement effective for at least a period of 120 days or until all of such Eligible Shares have been disposed of (if earlier) and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all securities covered by such Eligible Shares; provided, however, that in the case of any Shelf Registration, such 120 day period shall be extended, if necessary, to keep the registration statement until the earlier of such time effective as all of such securities have been disposed of in accordance with the intended methods of disposition contemplated by Section 2(d)(iii), (iii) requested by the seller Eligible Holders (or sellers thereof set forth in such registration statement or (i) required in the case of a Demand Shelf Registration unless the Company elects to suspend use of such Registration Statement pursuant to Section 3.12(b)), so that the prospectus used in connection with such registration shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing or (iv) requested jointly by the managing underwriter(s) and the Requesting Equity Holders or the Initiating Equity Holders, as applicable, relating to the plan of distribution therein; and, with respect to a Shelf Registration, if during such period the Company ceases to be eligible to continue such Shelf Registration on the original registration statement (whether by virtue of ceasing to be eligible to use Form S-3, by virtue of expiration of 60 days after such registration statement pursuant to Rule 415(a)(5), or otherwise), the Company shall register the applicable shares on a replacement registration statement, which shall be on Form S-3 if the Company is then eligible for such registration statement or, otherwise, on Form S-1, and shall continue such Shelf Registration, and amend and supplement such replacement registration statement from time to time, as required by this Agreement;
(e) notify the Equity Holders’ Counsel and each participating Equity Holder in writing (i) when the applicable registration statement or any amendment thereto has been filed or becomes effective, and when any applicable prospectus or any amendment or supplement thereto has been filed, (ii) in of the case receipt by the Company of a Piggyback Registration pursuant any notification with respect to Section 3.2, any comments by the expiration of 60 days after SEC with respect to such registration statement becomes effectiveor prospectus or any amendment or supplement thereto or any request by the SEC for the amending or supplementing thereof or for additional information with respect thereto, (iii) of the receipt by the Company of any notification with respect to the issuance by the SEC of any stop order suspending the effectiveness of such registration statement or prospectus or any amendment or supplement thereto or the initiation or threatening of any proceeding for that purpose, and (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of such Eligible Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purposes; and, upon occurrence of any of the events mentioned in clauses (iii) and (iv) use its reasonable best efforts to prevent the issuance of any stop order or obtain the withdrawal thereof as soon as possible;
(iiif) use its commercially reasonable efforts to register or qualify such Eligible Shares under such other securities or blue sky laws of such jurisdictions as the Eligible Holders reasonably request and do any and all other acts and things which may be reasonably necessary or advisable to enable the Eligible Holders to consummate the disposition in such jurisdictions of the Eligible Shares owned by the Equity Holders; provided, however, that the Company will not be required to qualify to do business, subject itself to taxation or consent to general service of process in any jurisdiction, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;
(g) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder Eligible Holders such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case case, including all exhibits), such number of copies of the prospectus prospectus, if any, contained in such registration statement (or other prospectus, including each a preliminary prospectus and or any summary free writing prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivh) without limiting Section 5(f) above, use commercially its reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement Eligible Shares to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company to enable the Selling Holder(sEligible Holders (to the extent the Eligible Holders then hold such Eligible Shares) thereof to consummate the disposition of such Registrable SecuritiesEligible Shares;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) notify the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into Eligible Holders on a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, timely basis at any time when a prospectus relating thereto to such Eligible Shares is required to be delivered under the Securities Act, Act upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances then existing;
(xj) make every provide a transfer agent and registrar (which may be the same entity) for such Eligible Shares and a CUSIP number for such Eligible Shares, in each case no later than the effective date of such registration statement;
(k) use its commercially reasonable effort efforts to cause all such Eligible Shares registered pursuant to this Agreement to be listed on any national securities exchange on which any shares of the Common Stock are listed, or, if the Common Stock is not then listed, use its reasonable efforts to list such Eligible Shares on a national securities exchange;
(l) use its reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or the use of any preliminary or final prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xvm) reasonably cooperate with each Eligible Holder and assist each underwriter, and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. Authority (“FINRA”), and any securities exchange on which such Eligible Shares are traded or will be traded;
(n) and take no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, however, that to the extent that any prohibition is applicable to the Company, the Company will take such action as is necessary to make any such prohibition inapplicable;
(o) in the performance case of any due diligence investigation by any underwriter an offering pursuant to a registration that is required not an Underwritten Offering, cooperate with the sellers of Eligible Shares to facilitate the timely preparation and delivery of certificates, to the extent permitted by applicable law, not bearing any restrictive legends representing the Eligible Shares to be undertaken sold, and cause such Eligible Shares to be issued in such denominations and registered in such names in accordance with the rules and regulations instructions of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership Eligible Shares prior to any sale of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested Eligible Shares and instruct any transfer agent and registrar of the Registrable Securities Eligible Shares to release any stop transfer order orders in respect thereof in accordance with respect thereto.applicable law;
(cp) make such representations and warranties to the Eligible Holders participating in such offering and the underwriters or agents, if any, in form, substance and scope as are customarily made by issuers in secondary Underwritten Offerings;
(q) obtain for delivery to the Eligible Holders participating in such offering and to the underwriter(s), if any, an opinion or opinions from counsel for the Company dated the effective date of the registration statement or, in the event of an Underwritten Offering, the date of the closing under the underwriting agreement, in customary form, scope and substance, which opinions shall be reasonably satisfactory to the Equity Holders or underwriters, as the case may be, and their respective counsel;
(r) make available upon reasonable notice at reasonable times and for reasonable periods for inspection by any Equity Holder, by any underwriter participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by such Equity Holders (including the Equity Holders’ Counsel) or any such underwriter in connection with such registration statement (collectively, “Representatives”), all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees and the independent public accountants who have certified its financial statements to make themselves available to discuss the business of the Company and to supply all information reasonably requested by any such Person or its Representatives in connection with such registration statement (collectively, “Confidential Information”) as shall be necessary to enable them to exercise their due diligence responsibility; provided that any such Person or Representative gaining access to Confidential Information pursuant to this Section 5(r) shall agree to hold in strict confidence and shall not make any disclosure or use any Confidential Information, unless (w) the release of such information is requested or required by law or by deposition, interrogatory, requests for information or documents by a governmental entity, subpoena or similar process (provided that such Person shall give prompt and timely written notice prior to such release, to the extent permitted by law, and shall reasonably cooperate with the Company should the Company, at the Company’s sole expense, desire to seek a protective order prior to disclosure), (x) such information is or becomes publicly known other than through a breach of this or any other agreement of which such Person has knowledge after inquiry, (y) such information is or becomes available to such Person on a non-confidential basis from a source other than the Company who is not known by such Person, after inquiry, to be prohibited or restricted from disclosing such information to such Person by contractual, legal or fiduciary obligation or (z) such information is independently developed by such Person without the use of or access to any Confidential Information, and each Person shall be responsible for any breach of the terms of this Section 5(r) by such Person or its Representatives, and shall take all appropriate steps to safeguard Confidential Information from disclosure, misuse, espionage, loss and theft; and
(s) provide and cause to be maintained a transfer agent and registrar for all Eligible Shares covered by the applicable registration statement from and after a date not later than the effective date of such registration statement. Each Selling Holder agrees that Eligible Holder, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix)5(i) hereof, such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities the Eligible Shares pursuant to the applicable registration statement and prospectus relating thereto covering such Eligible Shares until such Selling Holderholder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix5(i) hereof (provided that, in the case of a Shelf Registration, if such suspension lasts for longer than ten (10) consecutive business days, it shall count as a suspension for purposes of the limits set forth in Section 2(a)(ii)(2)) and Section 2(d)(iv), and, if so directed by the Company, deliver to the Company, at the Company’s expense, such Eligible Holder shall destroy all copies, other than permanent file copies, copies then in such Selling Holderholder’s possession possession, of the prospectus current covering such Eligible Shares at the time of receipt of such notice relating notice. If the disposition by any Eligible Holder of its securities is discontinued pursuant to such Registrable Securities. In the event foregoing sentence, the Company shall give such notice, any applicable 60-day extend the period during which such of effectiveness of the registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from and including the date of the giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to and including the date when all such Selling Holders Eligible Holder shall receive have received, in the case of Section 5(e)(iv), notice from the Company that such a stop order or suspension of effectiveness is no longer in effect and, in the case of Section 5(i), copies of the supplemented or amended prospectus and such prospectus shall have been filed with the Commissioncontemplated by Section 5(i).
Appears in 2 contracts
Samples: Registration Rights Agreement (Velocity Financial, LLC), Registration Rights Agreement (Velocity Financial, Inc.)
Registration Procedures. (a) If and whenever In connection with the registration obligations of the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms and conditions of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time shall:
(a) prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement a Registration Statement or Prospectus or any amendments or supplements thereto, including documents incorporated by reference after the initial filing of the Registration Statement, the Company will furnish to the counsel selected Holder covered by such Registration Statement (the holders of Registrable Securities which are to be included in such registration (“"Selling Holder"), Holders”) ' Counsel and the underwriters, if any, draft copies of all such documents proposed to be filedfiled at least three (3) Business Days prior thereto, which documents will be subject to the review of such Holder’s Counsel and the underwriters, if any, and the Company will not, unless required by law, file any Registration Statement or amendment thereto or any Prospectus or any supplement thereto (including such documents incorporated by reference) to which the Selling Holder (the "Objecting Party") shall object, pursuant to notice given to the Company prior to the filing of such amendment or supplement (the "Objection Notice"). The Objection Notice shall set forth the objections and the specific areas in the draft documents where such objections arise. The Company shall have five (5) Business Days after receipt of the Objection Notice to correct such deficiencies to the satisfaction of the Objecting Party, and will notify the Selling Holder of any stop order issued or threatened by the Commission in connection therewith and take all reasonable actions required to prevent the entry of such stop order or to remove it if entered;
(b) as promptly as practicable prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement as may be necessary to keep such Registration Statement effective for the period required pursuant to Section 2; cause the Prospectus to be supplemented by any required Prospectus supplement, and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act; and comply with the provisions of the Securities Act applicable to it with respect to the disposition of all Registrable Securities covered by such Registration Statement during the applicable period in accordance with the intended methods of disposition by the Selling Holders set forth in such Registration Statement or supplement to the Prospectus;
(c) as promptly as practicable furnish to any Selling Holder and the underwriters, if any, without charge, such number or conformed copies of such Registration Statement and any post-effective amendment thereto and such number of copies of the Prospectus (including each preliminary Prospectus) and any amendments or supplements thereto, and any documents incorporated by reference therein, as such Selling Holder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities being sold by such Selling Holder (it being understood that the Company consents to the use of the Prospectus and any amendment or supplement thereto by each Selling Holder and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by the Prospectus or any amendment or supplement thereto); provided, that before filing a Registration Statement or Prospectus relating to the Registrable Securities or any amendments or supplements thereto, the Company will furnish to Holders' Counsel copies of all documents proposed to be filed at least three (3) Business Days prior to the filing thereof, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(iid) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect on or prior to the disposition of all securities covered by such registration statement until date on which the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes Statement is declared effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or "blue sky sky" laws of such jurisdictions as any Selling Holder Holder, Holders' Counsel or underwriter reasonably requests and do any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of such Registrable Securities owned by such Selling Holder; keep each such registration or qualification (or exemption therefrom) effective during the period which the Registration Statement is required to be kept effective; and do any and all other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions of the Registrable Securities owned covered by such Selling Holder, except the applicable Registration Statement; provided that the Company shall not for any such purpose be required to (i) qualify generally to do business as a foreign corporation or as a broker-dealer in any jurisdiction wherein where it is not then so qualified or (ii) take any action which would not but for the requirements subject it to general service of this clause (iv) be obligated to be so qualified, to subject itself process or to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdictionwhere it is not then so subject;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company to enable the Selling Holder(s) thereof Holders to consummate the disposition of such Registrable Securities;
(viif) in connection with an Underwritten Offeringas promptly as practicable notify the Holder, obtain for each Selling Holder Xxxxxx’s Counsel and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information if requested by any such Inspector Person) confirm such notice in connection with such registration statement; providedwriting, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into when a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus Prospectus or any prospectus Prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement has been filed and, with respect to the registration statement a Registration Statement or any post-effective amendment theretoamendment, when the same has become effective;
, (2ii) of any request by the Commission or any other federal or state governmental authority for amendments or supplements to the registration statement a Registration Statement or the prospectus related Prospectus or for additional information;
information to be included in any Registration Statement or Prospectus or otherwise, (3iii) of the issuance by the Commission of any stop order suspending the effectiveness of a Registration Statement or the registration statement initiation or threatening of any proceedings for that purpose, (iv) of the issuance by any state securities commission or other regulatory authority of any order suspending the qualification or exemption from qualification of any of the Registrable Securities under state securities or "blue sky" laws or the initiation of any proceedings by any Person for that purpose;
purpose and (4v) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as which makes any statement made in a result Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated by reference therein untrue or which requires the making of which, the prospectus included any changes in such registration statementRegistration Statement, as then in effect, includes an Prospectus or documents so that they will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, ; and, at the request of any Selling Holderas promptly as practicable thereafter, promptly prepare and file with the Commission and furnish a supplement or amendment to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary Prospectus so that, as thereafter delivered deliverable to the purchasers of such Registrable Securities, such prospectus shall Prospectus will not include an contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading;
(xg) make every generally available to the Holders an earnings statement satisfying the provisions of Section 11(a) of the Securities Act no later than thirty (30) days after the end of the 12-month period beginning with the first day of the Company's first fiscal quarter commencing after the effective date of a Registration Statement;
(h) use its reasonable effort efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement, and, if one is issued, to obtain the withdrawal of any order suspending the effectiveness of such registration statementa Registration Statement at the earliest possible moment;
(xii) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning practicable after filing with the first day Commission of the Company’s first full quarter after the effective date any document which is incorporated by reference into a Registration Statement, deliver a copy of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderdocument to Holders' Counsel;
(xiij) cooperate with the sellers Selling Holder and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, and shall be in a form eligible for deposit with the Depository Trust Company) representing securities sold under any registration statementsuch Registration Statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or such sellers Selling Holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement Registration Statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAcertificates; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that Holder, upon receipt of any notice from the Company of the happening of any event of the kind described in subsection (f) of this Section 3.6(a)(ix)3, such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of the Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s 's receipt of the copies of the supplemented or amended prospectus Prospectus contemplated by subsection (f) of this Section 3.6(a)(ix2 or until it is advised in writing (the "Advice") by the Company that the use of the Prospectus may be resumed, and has received copies of any additional or supplemental filings which are incorporated by reference in the Prospectus, and, if so directed by the Company, such Selling Holder will, or will request the managing underwriter or underwriters, if any, to, deliver to the Company, Company (at the Company’s 's expense, ) all copies, other than permanent file copies, copies then in such Selling Holder’s possession 's possession, of the prospectus Prospectus covering such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securitiesnotice. In the event that the Company shall give any such notice, any applicable 60-day period during the time periods for which such registration statement must remain a Registration Statement is required to be kept effective pursuant to this Agreement Section 2 hereof shall be extended by the number of days during the period from and including the date of the giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to and including the date when all such each Selling Holders Holder shall receive such a have received (i) the copies of the supplemented or amended prospectus and such prospectus shall have been filed with Prospectus contemplated by Section 2(f) or (ii) the CommissionAdvice.
Appears in 2 contracts
Samples: Grant of Immediate Registration Rights (Signalife, Inc.), Grant of Immediate Registration Rights (Signalife, Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities 1933 Act as provided in Sections 3.1 and 3.2Section 2.2 and, as applicable, 2.3, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a registration statement SEC the Registration Statement, or amendments thereto, to effect such registrationregistration (including such audited financial REGISTRATION RIGHTS AGREEMENT BETWEEN ENTECH ENVIRONMENTAL TECHNOLOGIES, cause such registration statement to become effective at INC. AND CERTAIN INVESTORS PAGE 5 OF 19 statements as may be required by the earliest possible date permitted under 1933 Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the SEC, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.2); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any registration statement pursuant to Section 2.2 or Section 2.3, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities 1933 Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of thirty six (36) months after the date of this Agreement (subject to the right of the Company to suspend the effectiveness thereof for not more than 10 consecutive Trading Days or an aggregate of 20 Trading Days during each year (each a "BLACK-OUT PERIOD")) or such time as all of such the securities have been disposed which are the ---------------- subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;"REGISTRATION MAINTENANCE PERIOD"); ---------------------------------
(iii) furnish to each Selling Holder and each underwriter, if any, holder of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities 1933 Act, in conformity with the requirements of the Securities 1933 Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder holder of Registrable Securities and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerholder of Registrable Securities;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder of Registrable Securities to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderholder of Registrable Securities, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by REGISTRATION RIGHTS AGREEMENT BETWEEN ENTECH ENVIRONMENTAL TECHNOLOGIES, INC. AND CERTAIN INVESTORS PAGE 6 OF 19 such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) holder of Registrable Securities thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offeringfurnish to each holder of Registrable Securities a signed counterpart, obtain for each Selling Holder addressed to such holder of Registrable Securities, and underwriter:
(1) the underwriters, if any, of an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), reasonably satisfactory in opinions requested form and substance to such holder of Registrable Securities) including that the prospectus and any prospectus supplement forming a part of the Registration Statement does not contain an untrue statement of a material fact or omits a material fact required to be stated therein or necessary in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwritersorder to make the statements therein, in light of the circumstances under which they were made, not misleading, and
(2vii) a “comfort” letter (or, notify the Investor and its counsel promptly and confirm such advice in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of writing promptly after the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);has knowledge thereof:
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) when the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-post- effective amendment thereto, when the same has become effective;
(2B) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3C) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5D) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling Holderholder of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities 1933 Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such holder of Registrable Securities promptly prepare and furnish to such seller holder of Registrable Securities a reasonable number of copies of a supplement to or an amendment of such REGISTRATION RIGHTS AGREEMENT BETWEEN ENTECH ENVIRONMENTAL TECHNOLOGIES, INC. AND CERTAIN INVESTORS PAGE 7 OF 19 prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xix) make every reasonable effort use its best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a1 l(a) of the Securities 1933 Act and Rule 158 thereunder;
(xi) enter into such agreements and take such other actions as the Investors shall reasonably request in writing (at the expense of the requesting or benefiting Investors) in order to expedite or facilitate the disposition of such Registrable Securities; and
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list all Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling such registration statement on any securities exchange on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed. The Company may require each Selling Holder and each underwriter, if any, holder of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such holder of Registrable Securities and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementin writing.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Entech Environmental Technologies Inc), Registration Rights Agreement (Entech Environmental Technologies Inc)
Registration Procedures. (a) If and whenever In the case of each registration effected by the Company is required pursuant to this Agreement, the Company will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. The Company agrees to use commercially reasonable its best efforts to effect or cause such registration to permit the sale of the Registrable Securities covered thereby by the Holders thereof in accordance with the intended method or methods of distribution thereof described in such registration statement. In connection with any registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Securities, the Company shall shall, as promptly soon as practicable (in each case, to the extent applicable):reasonably possible:
(i) prepare and file with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules Registrable Securities and regulations of the Commission, and thereafter use commercially reasonable its efforts to cause such registration statement filed to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessbecome effective;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference included therein as may be necessary to keep effect and maintain the effectiveness of such registration statement effective as may be required by the applicable rules and regulations of the Commission and the instructions applicable to comply with the provisions form of such registration statement (provided, however, that the Company shall not be obliged to maintain the effectiveness of the registration statement described in Article 2 longer than through the earlier of (A) seven years from the date hereof or, if earlier, the second anniversary of the date on which the last of the Registrable Securities are issued or issuable as payment under the Note or upon exercise of the Warrant, (B) the date on which the Holder may sell all Registrable Securities then held by the Holder, or which may become issuable as payment under the Note or upon exercise of the Warrant, without restriction by the volume limitations of Rule 144(e) of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of or (C) such time as all Registrable Securities held by such Holder, or which may become issuable as payment under the Note or upon exercise of such securities the Warrant, have been disposed sold pursuant to a registration statement), and furnish to the holders of in accordance the Registrable Securities covered thereby copies of any such supplement or amendment prior to this being used and/or filed with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveCommission;
(iii) furnish promptly notify the Holders of Registrable Securities to each Selling Holder and each underwriterbe included in a registration statement hereunder, the sales or placement agent, if any, of therefor and the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any managing underwriter of the securities being sold by such Selling Holder shall reasonably requestsold, and take any other action which may be reasonably necessary or advisable to enable confirm such Selling Holder and underwriter to consummate the disposition advice in writing, (A) when such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus included therein or any prospectus amendment or supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement has been filed, and, with respect to the such registration statement or any post-effective amendment theretoamendment, when the same has become effective;
, (2B) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) of the issuance by the Commission of any stop order suspending the effectiveness of the such registration statement or the initiation of any proceedings by any Person for that purpose;
, (4C) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
purpose or (ixD) notify each Selling Holderif, to the Company’s knowledge, it shall be the case, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery thatthat such registration statement or prospectus, or upon any document incorporated by reference in any of the happening of any event as a result of whichforegoing, the prospectus included in such registration statement, as then in effect, includes contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances then existing;
(iv) use its best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statement or any post-effective amendment thereto or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any Registrable Securities included in such registration statement for sale in any jurisdiction at the earliest practicable date;
(v) furnish to each Holder of Registrable Securities to be included in such registration statement hereunder, each placement or sales agent, if any, therefor and each underwriter, if any, thereof a conformed copy of such registration statement, each such amendment and supplement thereto (in each case excluding all exhibits and documents incorporated by reference) and such number of copies of the registration statement (excluding exhibits thereto and documents incorporated by reference therein unless specifically so requested by such holder, agent or underwriter, as the case may be) of the prospectus included in such registration statement (including each preliminary prospectus and any summary prospectus), in conformity with the requirements of the Securities Act, as such Holder, agent, if any, and underwriter, if any, may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Holder sold by such agent or underwritten by such underwriter and to permit such Holder, agent and underwriter to satisfy the prospectus delivery requirements of the Securities Act;
(vi) use its best efforts to (A) register or qualify the Registrable Securities to be included in such registration statement under such other securities laws or blue sky laws of such states of the United States or the District of Columbia to be designated by the Holders of a majority of such Registrable Securities participating in such registration and each placement or sales agent, if any, therefor and underwriter, if any, thereof, as any Holder and each underwriter, if any, of the securities being sold shall reasonably request (provided, that the Company shall not be required to use its best efforts to register or qualify the Registrable Securities in more than 10 such jurisdictions unless the expenses thereof are borne by the Holders requesting such efforts), (B) keep such registrations or qualifications in effect and comply with such laws so as to permit, as to a registration statement filed under Article 2 above, the continuance of offers, sales and dealings therein in such jurisdictions for the same period after the initial effective date of the registration statement filed under the Securities Act as described in Section 5(a)(ii) above or, as to a registration statement filed under Article 3 above, for a period of 90 days after the effective date of the registration statement, or if underwritten, as long as may be necessary to enable the underwriter to complete its distribution of the Registrable Securities pursuant to such registration statement and (C) take any and all such actions as may be reasonably necessary or advisable to enable such Holder, agent, if any, and underwriter to consummate the disposition in such jurisdictions of such Registrable Securities; provided, however, that in order to fulfill the foregoing obligations under this Section 5(a)(vi), the Company shall not (unless otherwise required to do so in any jurisdiction) be required to (1) qualify generally to do business as a foreign company or a broker-dealer, (2) execute a general consent to service of process or (3) subject itself to taxation; and
(vii) furnish, at the request of any Selling Holdera majority of the Holders participating in the registration, promptly prepare and furnish to on the date that such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter Registrable Securities are delivered to the purchasers underwriters for sale, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the registration statement with respect to such securities becomes effective, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering and reasonably satisfactory to a majority in interest of the Holders requesting registration, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities and (ii) a letter dated as of such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering and reasonably satisfactory to a majority in interest of the Holders requesting registration, addressed to the underwriters, if any, and if permitted by applicable accounting standards, to the Holders requesting registration of Registrable Securities.
(b) The Company may require each Holder of Registrable Securities as to which any registration is being effected to furnish to the Company such information regarding such Holder and such Holder’s method of distribution of such Registrable Securities as the Company may from time to time reasonably request in writing. Each such Holder agrees to notify the Company as promptly as practicable of any inaccuracy or change in information previously furnished by such Holder to the Company or of the occurrence of any event in either case as a result of which any prospectus relating to such registration contains or would contain an untrue statement of a material fact regarding such Holder or the distribution of such Registrable Securities or omits to state any material fact regarding such Holder or the distribution of such Registrable Securities required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly to furnish to the Company any additional information required to correct and update any previously furnished information or required so that such prospectus shall not contain, with respect to such Holder or the distribution of such Registrable Securities, such prospectus shall not include an untrue statement of or a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations misleading in light of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect theretocircumstances then existing.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event Holders will comply with the provisions of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s Securities Act with respect to disposition of the Registrable Securities pursuant to the applicable be included in any registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed filed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Spectre Gaming Inc), Registration Rights Agreement (Spectre Gaming Inc)
Registration Procedures. In the case of each registration, qualification or compliance effected by the Company pursuant to this Agreement, the Company will keep each Holder advised in writing as to the initiation of each registration, qualification and compliance and as to the completion thereof. At its expense the Company will:
(a) If prepare and whenever (within thirty (30) days after the end of the period within which requests for registration may be given to the Company is required to use commercially reasonable efforts to effect the registration of or in any Registrable Securities under the Securities Act event as provided in Sections 3.1 and 3.2, the Company shall soon thereafter as promptly as practicable possible) (in each casethe case of a registration pursuant to Section 2.1, such filing to be made within thirty (30) days after the extent applicable):
(iinitial request of one or more Initiating Holders or in any event as soon thereafter as possible) prepare and file with the Commission a the requisite registration statement to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under the rules and regulations of the Commission, Securities Act) and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant to in compliance with the terms provisions of this Agreement; the Securities Act, provided, howeverthat, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements (including, without limitation, any document incorporated by reference or deemed to be incorporated by reference therein) to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivestatement;
(iiic) furnish to each Selling seller of Registrable Securities covered by such registration statement and each Holder and each underwriterunderwriter or agent, if any, of the securities being sold by such Selling Holder seller such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibitsexhibits and, upon request, all schedules, appendixes and exhibits to any agreement or document included in any such exhibit), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus (or supplement thereto) and any summary prospectus) and any other prospectus (or supplement thereto) filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder seller and underwriterunderwriter or agent, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivd) use commercially reasonable its best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder seller thereof and any underwriter or agent of the securities being sold by such Selling seller and any Holder shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder seller and underwriter or agent to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderseller, except that provided, that, the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause paragraph (ivd) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(ve) use commercially reasonable its best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable Securities;
(viif) in connection with an Underwritten Offering, obtain for notify each Selling Holder and underwriter:
(1) an opinion seller of counsel for the Company, covering the matters customarily Registrable Securities covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or immediately upon the happening of any event as a result of which, the prospectus (including any amendment or supplement thereto) included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements statement therein not misleadingmisleading in the light of the circumstances under which they were made, and, and at the request of any Selling Holder, such seller or Holder promptly prepare and furnish to such seller or Initiating Holder and each underwriter or agent, if any, a reasonable number of copies of a supplement to to, or an amendment of of, such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances under which they were made;
(xg) make every reasonable effort provide and cause to obtain be maintained a transfer agent and registrar for all Registrable Securities covered by such registration statement from and after a date not later than the withdrawal of any order suspending the effectiveness effective date of such registration statement;
(xih) otherwise use commercially reasonable its best efforts to comply with list all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Registrable Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of covered by such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers on any securities exchange on which any of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, securities of the same class as the case may beRegistrable Securities are then listed and, and otherwise if not so listed, to be listed on the NASD automated quotation system and, if listed on the NASD automated quotation system, use its reasonable best efforts to cooperate as reasonably requested secure designation of all such Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the such registration statement or any prospectus, pursuant to as a supplement or postNASDAQ “national market system security” within the meaning of Rule 11Aa2-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations 1 of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriteror, if anyfailing that, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of secure NASDAQ authorization for such Registrable Securities as and, without limiting the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any generality of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements arrange for at least two market makers to register as such with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the CommissionNASD.
Appears in 2 contracts
Samples: Investor Rights Agreement, Investor Rights Agreement (PRN Corp)
Registration Procedures. (a) If and whenever In the case of each registration, qualification or compliance effected by the Company is required pursuant to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Registration Rights Agreement, the Company shall will keep the holders of the Registrable Securities advised in writing as promptly as practicable (in each case, to the extent applicable):initiation of each registration, qualification and compliance and as to the completion thereof. At its expense, the Company will:
(i) 2.5.1 prepare and file with the Commission a registration statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules securities and regulations of the Commission, and thereafter use its commercially reasonable efforts to cause such registration statement to become and remain effective until, with respect to the Registration Statement filed pursuant to Section 2.1, two years after the terms date such Registration Statement is declared effective, and with respect to any other registration statement filed pursuant to this Registration Rights Agreement, the distribution described in such registration statement has been completed;
2.5.2 provide the holders of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior with a reasonable opportunity to review the effective date registration statement before the filing of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, with the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessCommission;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act 2.5.3 with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1an Underwritten Public Offering, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), underwriter such number of copies of the prospectus contained in such registration statement (a prospectus, including each a preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, underwriter may reasonably request in order to facilitate the public sale of the shares by such underwriter and promptly furnish to each underwriter and the holders of Registrable Securities notice of any stop-order or similar notice issued by the Commission or any state agency charged with the regulation of securities, and notice of Nasdaq or securities exchange listing;
2.5.4 furnish, without charge, to the each seller of Registrable Securities covered by such registration statement, such number of conformed copies of such registration statement, each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary prospectus and, in each case, including all exhibits thereto and documents incorporated by reference therein) and such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities or other shares of Common Stock owned by such seller;
(iv) 2.5.5 promptly furnish to each underwriter, if any, and the holders of Registrable Securities notice of any stop-order or similar notice issued by the Commission or any state agency charged with the regulation of securities and take all reasonable actions required to prevent the entry of such stop order or to remove it if entered;
2.5.6 use commercially its reasonable best efforts to register or qualify such the Registrable Securities or other shares of Common Stock covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter the holders of the securities being sold by such Selling Holder Registrable Securities shall reasonably request, to keep such registration or qualification in effect for so long as such registration statement remains in effect and take to do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter the holders of the Registrable Securities to consummate the disposition in such jurisdictions of any such Registrable Securities or other shares of Common Stock owned by the holders of the Registrable Securities owned by such Selling HolderSecurities; PROVIDED, except HOWEVER, that the Company shall not for any such purpose be required to (i) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause Section 2.5.6, (ivii) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general (iii) consent to general service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on 2.5.7 notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the CompanySecurities, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any a time when a prospectus relating thereto to such Registrable Securities is required to be delivered under the Securities Act, upon discovery that, or upon of the happening occurrence of any event known to the Company as a result of which, which the prospectus included in such registration statement, as then in effect, includes contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, misleading in light of the circumstances under which they were made; and, at the request of any Selling Holderholder of Registrable Securities, promptly the Company shall prepare and furnish to such seller holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances under which they were made;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering 2.5.8 during the period of at least 12 monthswhen the prospectus is required to be delivered under the Securities Act, but not more than 18 months, beginning promptly file all documents required to be filed with the first day of the Company’s first full quarter after the effective date of such registration statementCommission pursuant to Sections 12(a), which earnings statement shall satisfy the provisions of Section 11(a13(c), 14 or 15(d) of the Securities Exchange Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies1934, as amended (the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by "Exchange Act"); and
2.5.9 on the Selling Holders and the underwriters in the offering, marketing or selling prior written request of the any holder of Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement file such prospectus supplements or post-effective amendment if necessary, such information amendments to any registration statement filed pursuant to Article II hereof as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist be required in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership transfer of the Registrable Securities being sold (unless, in the Company’s sole discretion, rights under this Registration Rights Agreement by such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations holder as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect theretopermitted under Section 2.9 hereof.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Reimbursement Agreement (Industrial Holdings Inc), Reimbursement Agreement (Industrial Holdings Inc)
Registration Procedures. (a) If and whenever this Agreement contemplates ----------------------- that the Company is required to use commercially reasonable efforts to will effect the registration under the Act of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2shares held by Holder, the Company shall as promptly as practicable (in each case, to the extent applicable):shall:
(i) 3.1 prepare and file with the Securities and Exchange Commission (the "SEC") a registration statement on the appropriate form with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules shares and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant as provided herein, provided that before filing any amendments or supplements to a registration statement or prospectus, including documents incorporated by reference after the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date initial filing of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments theretostatement, the Company will furnish to Holder and the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) underwriters, if any, copies of all such documents proposed to be filedfiled at least five business days prior thereto, which documents will be subject to the reasonable review of such counselHolder and underwriters, and the Company will not file an amendment to a registration statement or prospectus or any supplement thereto (including such review documents incorporated by reference) to be conducted with reasonable promptnesswhich Holder or the underwriters, if any, shall reasonably object;
(ii) 3.2 prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein to take such other action as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case completion of a Demand Registration pursuant to Section 3.1, the expiration distribution of 60 days after such registration statement becomes effectiveshares so registered, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies 120 day period following immediately the effective date of such registration statement (at which time unsold shares may be deregistered), and otherwise comply with applicable provisions of the Act and the rules and regulations promulgated under the Act;
3.3 furnish to Holder and its counsel, and to each amendment and supplement thereto (in each case including all exhibits)underwriter of the shares to be sold by Holder, without charge, such number of copies of the prospectus contained in such registration statement (including each one or more preliminary prospectuses, any supplements thereto and a final prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, supplements thereto in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as Holder or such Selling Holder and underwriter, if any, underwriter may reasonably request request, in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellershares;
3.4 if, during any period in which, in the opinion of the Company's counsel, a prospectus relating to the shares is required to be delivered under the Act in connection with any offer or sale contemplated by any registration statement, any event known to the Company occurs as a result of which the prospectus would include an untrue statement of material fact or omit to state any material fact necessary to make the statements made therein, in light of the circumstances under which they were made, not misleading, or if it is necessary at any time to amend or supplement the related prospectus to comply with the Act, the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or the respective rules and regulations thereunder, to notify Holder promptly and to prepare and file with the SEC an amendment or supplement, whether by filing such documents pursuant to the Act or the Exchange Act as may be necessary to correct such untrue statement or omission or to make any registration statement or the related prospectus comply with such requirements and to furnish to Holder and its counsel such amendment or supplement to such registration statement or prospectus;
3.5 timely to file with the SEC (i) any amendment or supplement to any registration statement or to any related prospectus that is required by the Act or the Exchange Act or requested by the SEC, and (ii) all documents (and any amendments to previously filed documents) required to be filed by the Company pursuant to Section 13(a), 13(c), 14 and 15(d) of the Exchange Act;
3.6 within five days of filing with the SEC of (i) any amendment or supplement to any registration statement, (ii) any amendment or supplement to the related prospectus, or (iii) any document incorporated by reference in any of the foregoing or any amendment of or supplement to any such incorporated document, to furnish a copy thereof to Holder;
3.7 to advise Holder and its counsel promptly (i) when any post- effective amendment to any registration statement becomes effective and when any further amendment of or supplement to the prospectus shall be filed with the SEC, (ii) of any request or proposed request by the SEC for an amendment or supplement to any registration statement, to the related prospectus, to any document incorporated by reference in any of the foregoing or for any additional information, (iii) of the issuance by the SEC of any stop order suspending the effectiveness of any registration statement or any order directed to the related prospectus or any document incorporated therein by reference or the initiation or threat of any stop order proceeding or of any challenge to the accuracy or adequacy of any document incorporated by reference in such prospectus, (iv) of receipt by the Company of any notification with respect to the suspension of the qualification of the shares for sale in any jurisdiction or the initiation or threat of any proceeding for such purpose, and (v) of the happening of any event which makes untrue any statement of a material fact made in any registration statement or the related prospectus as amended or supplemented or which requires the making of a change in such registration statement or such prospectus as amended or supplemented in order to make any material statement therein not misleading;
3.8 on or before the date a registration statement is declared effective, use commercially reasonable its best efforts to register or qualify such Registrable Securities the shares covered by such registration statement under such other the securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, considering the nature and take any size of the offering, and do such other action which acts and things as may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the public sale or other disposition in each such jurisdictions jurisdiction of the Registrable Securities owned by such Selling Holdershares; provided, except however, that the Company shall not for any such purpose be required obligated to qualify generally to do business as a foreign corporation in to do business under the laws of any jurisdiction wherein in which it would has not but for the requirements of this clause (iv) be obligated to be so been qualified, to subject itself to taxation in any such jurisdiction or to file a any general consent to service of process in any such jurisdictionprocess;
(v) 3.9 use commercially reasonable its best efforts to cause such Registrable Securities all shares sold pursuant to any registration statement to be listed on each national securities exchange exchange, if any, on which similar securities issued by the Company such shares are then listed andlisted;
3.10 enter into customary agreements (including, if no such securities are so listedapplicable, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vian underwriting agreement in customary form) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by and take such other governmental agencies actions as are reasonably required in order to expedite or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate facilitate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be 3.11 make reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any sellerHolder, any underwriter participating in any disposition pursuant to any the registration statement, and any attorney, accountant or other agent or representative retained by any such seller Holder or underwriter (collectively, the “"Inspectors”"), all pertinent financial and other records, pertinent corporate documents and properties of the Company (collectively, the “"Records”), ") as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s 's officers, directors and employees to supply all information reasonably requested by any such Inspector in connection with such registration statement; provided. Records and other information which the Company determines, howeverin good faith, that, to be confidential and which it notifies the Inspectors are confidential shall not be disclosed by the Inspectors unless (i) the disclosure of such Records Records, in the opinion of counsel reasonably acceptable to the Company, is necessary to avoid or correct a misstatement or omission in the registration statement statement, or (ii) the release of such Records records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each . Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its the Company's expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify 3.12 use its best efforts to obtain a "cold comfort" letter from the Company's independent public accountants in writing each Selling Holder customary form and the underwriters, if any, covering such matters of the following events:
(1) type customarily covered by "cold comfort" letters as Holder, or the filing of the registration statementmanaging underwriter, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effectivereasonably requests;
(2) any request by 3.13 use its best efforts to obtain an opinion or opinions from counsel for the Commission for amendments or supplements to the registration statement or the prospectus or for additional informationCompany in customary form;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) 3.14 make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such the registration statement;statement at the earliest possible moment; and
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) 3.15 cooperate with the sellers Holder and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, legends) representing securities to be sold under any the registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriterunderwriters, if any, to furnish the Company in writing such information regarding each Selling or Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementrequest.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Ion Laser Technology Inc), Registration Rights Agreement (Ion Laser Technology Inc)
Registration Procedures. (a) If and whenever the Company is required by the provisions of this Agreement to use commercially its reasonable best efforts to effect the registration of any of the Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Act, the Company shall effect such registration to permit the sale of such Registrable Securities in accordance with the intended method or methods of disposition thereof, and pursuant thereto the Company shall cooperate in the sale of the securities and shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare and file with the Commission a registration statement (and, in the case of a registration under Section 2.1 or Section 2.3 of this Agreement, within 60 days of any request thereunder), in form and substance required by the Securities Act, with respect to effect such registration, Registrable Securities and use its reasonable best efforts to cause such that registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessas provided herein;
(iib) prepare and file with the Commission such any amendments (including post-effective amendments) and supplements to such the registration statement and the prospectus used included in connection therewith and any Exchange Act reports incorporated by reference therein the registration statement as may be necessary to keep such the registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) effective, in the case of a Demand Registration pursuant to Section 3.1firm commitment underwritten public offering, until completion of the expiration distribution of 60 days after such registration statement becomes effectiveall securities described therein and, in the case of any other offering, until the earlier of (i) the sale of all Registrable Securities covered thereby, or (ii) in the case of a Piggyback Registration pursuant shelf registration, three years, and in the case of a registration statement not related to Section 3.2a shelf registration, 90 days after the effective date thereof (but in any event not before the expiration of 60 days after any longer period required under the Securities Act or, if such registration statement becomes effectiverelates to a firm commitment underwritten public offering, such longer period as in the opinion of counsel for the underwriters is required by law);
(iiic) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by Holdings such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number reasonable numbers of copies of the prospectus contained in such registration statement (including each prospectus, including, without limitation, a preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, Holdings may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerit;
(ivd) use commercially reasonable efforts to register or qualify such the Registrable Securities covered by such the registration statement under such other the securities laws or “blue sky sky” laws of such jurisdictions states as any Selling Holder and any underwriter of the securities being sold by such Selling Holder Holdings shall reasonably request, and take do any and all other action which acts and things that may be reasonably necessary or advisable desirable to enable such Selling Holder and underwriter Holdings to consummate the public sale or other disposition in such jurisdictions states of the Registrable Securities owned by such Selling HolderHoldings; provided, except however, that the Company shall not for any such purpose be required in connection with this paragraph (d) to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file execute a general consent to service of process in any such jurisdiction;
(ve) in connection with each registration covering an underwritten public offering, enter (and Holdings agrees to enter) into a written agreement with the managing underwriter in such form and containing such provisions (including, without limitation, if the underwriter(s) so requests, customary contribution provisions on the part of the Company) as are customary in the securities business for such an arrangement between such underwriter(s) and companies of the Company’s size and investment stature;
(f) in the case of a registration under Section 2.1 of this Agreement, cause the appropriate executives of the Company to participate, at the Company’s expense, in customary investor presentations and “road shows” (to be scheduled in a collaborative manner so as not to unreasonably interfere with the conduct of the business of the Company);
(g) at the reasonable request of Holdings in the case of a registration pursuant to Section 2.1 of this Agreement, on the date on which such Registrable Securities are sold to the underwriter(s), provide (i) a legal opinion of the Company’s outside counsel, (ii) a legal opinion of the Company’s general counsel, and (iii) a letter from the Company’s independent certified public accountants, each in customary form and substance and addressed to such underwriter(s) and Holdings;
(h) procure the cooperation of the Company’s transfer agent in settling any offering or sale of Registrable Securities, including, without limitation, with respect to the transfer of physical stock certificates into book-entry form and the removal of any restrictive legends, in each case in accordance with any procedures reasonably requested by Holdings or the underwriters;
(i) whenever the Company is registering any securities under the Securities Act and Holdings is selling securities under such registration, (i) keep Holdings advised of the initiation, progress and completion of such registration, (ii) furnish or otherwise make available to Holdings and Holdings’ counsel copies of all such documents proposed to be filed, and such other documents reasonably requested by counsel, including, without limitation, any comment letter from the Commission, and (iii) allow Holdings and Holdings’ counsel to review and comment on the registration statement and to participate in the preparation of such registration statement before the filing thereof;
(j) make available for inspection by Holdings, any underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other agent retained by Holdings or any such underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors, employees and independent accountants to supply all information reasonably requested by Holdings or any such underwriter, attorney, accountant or agent in connection with such registration statement;
(k) otherwise use commercially its reasonable best efforts to comply with all applicable rules and regulations of the Commission and any other applicable regulatory body applicable to such registration, and make available to its security holders, as soon as reasonably practicable, an earning statement covering the period of at least 12 months beginning with the first day of the Company’s first full calendar quarter after the effective date of the registration statement, which earning statement shall satisfy the provisions of section 11(a) of the Securities Act and Rule 158 thereunder;
(l) in the event of the issuance of any stop order suspending the effectiveness of a registration statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any Registrable Securities included in such registration statement for sale in any jurisdiction, the Company will use its reasonable best efforts promptly to obtain the withdrawal of such order; and
(m) as of the effective date of any registration statement relating thereto, cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed listed, and, if no such securities are not so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Global Select Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Investor Rights Agreement (Ingram Micro Holding Corp), Investor Rights Agreement (Ingram Micro Holding Corp)
Registration Procedures. Whenever Registrable Securities are to be registered pursuant to this Agreement, the Company will effect the registration and the sale of such Registrable Securities in accordance with the intended method of disposition thereof. Pursuant thereto, the Company will, as expeditiously as possible and in any event in accordance with the following procedures:
(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under in accordance with the Securities Act as provided in Sections 3.1 and 3.2all applicable rules and regulations promulgated thereunder, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission SEC within (x) with respect to Long-Form Registrations, forty-five (45) days of such request for registration by an eligible holder of Registrable Securities and (y) with respect to Short-Form Registrations, thirty (30) days of such request for registration by an eligible holder of Registrable Securities, a registration statement statement, and promptly thereafter all amendments and supplements thereto and related prospectuses, with respect to effect such registrationRegistrable Securities; provided, cause such that, no later than the date that is six (6) months following the Closing date, the Company shall file (x) if the Company is a WKSI, an Automatic Shelf Registration Statement or (y) if the Company is not a WKSI, a shelf registration statement to become effective at on Form S-3, in each case registering the earliest possible date permitted under the rules Equityholders’ Registrable Securities and regulations of the Commission, and thereafter (ii) use its commercially reasonable efforts to cause such registration statement to remain become effective pursuant to the terms of this Agreementas soon as reasonably practicable thereafter; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such a registration statement or prospectus pursuant to this Agreement or any amendments or supplements thereto or any Free Writing Prospectuses related thereto, the Company will furnish to counsel of the counsel selected by the holders of Registrable Securities which are to be included Equityholders in such registration (“Selling Holders”) offering copies of all such documents proposed to be filed, filed which documents will shall be subject to the review of such counsel, and the Company shall give the Equityholders and their counsel a reasonable opportunity to comment on such review documents and keep such Equityholders reasonably informed as to be conducted the registration process (and the Equityholders of the Registrable Securities covered by such registration statement shall have the right to request that the Company modify any information contained in such registration statement, amendment or supplement thereto pertaining to the Equityholders and the Company will use its commercially reasonable efforts comply with reasonable promptnesssuch request);
(iib) promptly notify the Equityholders of the effectiveness of each registration statement filed hereunder and prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective for the lesser of (i) one hundred eighty (180) days and to (ii) such shorter period which will terminate when all Registrable Securities covered by the registration statement have been sold, and comply with the provisions of the Securities Act and the Exchange Act (or comparable applicable foreign securities laws) with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement; provided, that with respect to any shelf registration statement or (i) in covering Registrable Securities, if the case Company is not eligible to use an Automatic Shelf Registration Statement at the time of a Demand Registration pursuant to Section 3.1, filing then the expiration of 60 days after Company shall keep such registration statement becomes effective, or continuously effective under the Securities Act in order to permit the prospectus forming a part thereof to be useable by the Equityholders (iisubject to customary public company blackout requirements) until the earliest of (x) the date as of which all Registrable Securities have been sold and (y) such earlier date agreed to in writing by the case of a Piggyback Registration pursuant to Section 3.2, Company and the expiration of 60 days after such registration statement becomes effectiveDesignated Investors;
(iiic) if requested by the managing underwriters (if any) or the holders of a majority of the then outstanding Registrable Securities included in such registration statement, promptly include in a prospectus supplement or post-effective amendment such information as the managing underwriters (if any) or such holders may reasonably request in order to permit the intended method of distribution of such securities and to make all required filings of such prospectus supplement or such post-effective amendment as soon as practicable after the Company has received such request; provided, that the Company shall not be required to take any actions under this Section 5(c) that are not, in the opinion of counsel for the Company, in compliance with applicable law;
(d) furnish without charge to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), Equityholders such number of copies of such registration statement, each amendment and supplement thereto, the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer each Free Writing Prospectus (or similar prospectus available under comparable foreign securities laws) and such other documents as such Selling Holder and underwriter, if any, the Equityholders may reasonably request (in each case including all exhibits thereto and documents incorporated by reference therein) in order to facilitate the public sale or other disposition of the Registrable Securities owned by the Equityholders, and the Company hereby consents to the use of such seller;
(iv) use commercially reasonable efforts to register prospectus and each amendment or qualify such supplement thereto by each of the selling holders of Registrable Securities and the underwriters or agents, if any, in connection with the offering and sale of the Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder prospectus and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary amendment or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdictionsupplement thereto;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by notify the Company are then listed andEquityholders, if no such securities are so listed(i) promptly after it receives notice thereof, use commercially reasonable efforts to cause such Registrable Securities to be listed on of the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by date and time when such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for and each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment thereto has become effective or a prospectus or supplement to the any prospectus relating to a registration statement and, with respect to the has been filed and when any registration statement or qualification has become effective under a state securities or blue sky law or any post-effective amendment theretoexemption thereunder has been obtained, when the same has become effective;
(2ii) promptly after receipt thereof, of any request by the Commission SEC or any state securities authority for amendments the amendment or supplements to the supplementing of such registration statement or the prospectus or for additional information;
, (3iii) promptly after it receives notice thereof, of the issuance by the Commission SEC or any state securities regulator of any stop order suspending the effectiveness of the such registration statement or the initiation of any proceedings by any Person for that purpose;
, (4iv) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the promptly after receipt by the Company thereof of any notification with respect to the suspension of the qualification of any the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat of any proceeding for such purpose;
, and (ixv) notify each Selling Holder, at promptly during any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Act in the happening event of the occurrence of any event as a the result of which, which is that it has actual knowledge that the prospectus included in such registration statement, as then in effect, includes statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, and, at the request of Equityholders holding a majority of the Registrable Securities remaining unsold under such registration statement during the time that a prospectus is required to be delivered to purchasers of Registrable Securities, the Company will promptly prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading in light of the circumstances under which they were made (and the period of effectiveness of such registration statement provided for in Section 5(b) shall be extended by the number of days from and including the date such notice is given to the date such amended or supplemented prospectus has been delivered under this Section 5(e));
(f) prepare and file promptly with the SEC, and notify the Equityholders prior to the filing of, such amendments or supplements to such registration statement or prospectus as may be necessary to correct any statements or omissions if, at the time when a prospectus relating to such securities is required to be delivered under the Securities Act, any event has occurred the result of which any such prospectus or any other prospectus as then in effect would include an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances in which they were made, not misleading, and, in case any of such holders of Registrable Securities or any underwriter for any such holders is required to deliver a prospectus at a time when the prospectus then in circulation is not in compliance with the Securities Act or the rules and regulations promulgated thereunder (or comparable applicable foreign securities laws), the Company shall prepare promptly upon request of any Selling Holder, promptly prepare and furnish such holder or underwriter such amendments or supplements to such seller a reasonable number of copies of a supplement to or an amendment of such registration statement and prospectus as may be necessary so thatin order for such prospectus to comply with the requirements of the Securities Act and such rules and regulations promulgated thereunder (or comparable applicable foreign securities laws);
(g) take all reasonable action to ensure that any Free Writing Prospectus utilized in connection with any registration covered by Section 2 or Section 3 complies in all material respects with the Securities Act, as thereafter delivered is filed in accordance with the Securities Act to the purchasers of such Registrable Securitiesextent required thereby, such prospectus shall is retained in accordance with the Securities Act to the extent required thereby and, when taken together with the related prospectus, will not include an contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading;
(xh) make every reasonable effort cause all such Registrable Securities to obtain be listed on a national or international securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the withdrawal of any order suspending Company are then listed or traded;
(i) provide a transfer agent and registrar for all such Registrable Securities and provide a CUSIP number for all such Registrable Securities, in each case, not later than the effectiveness effective date of such registration statement;
(xij) otherwise enter into and perform such customary agreements (including underwriting agreements in customary form, which agreements include customary limitations on the liability of the holders of Registrable Securities);
(k) use its commercially reasonable efforts to comply with all applicable rules prevent the issuance of any stop order suspending the effectiveness of a registration statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any Registrable Securities included in such registration statement for sale in any jurisdiction, and regulations in the event of the Commissionissuance of any such stop order or other such order the Company shall advise the Equityholders of such stop order or other such order promptly after it shall receive notice or obtain knowledge thereof and shall use its commercially reasonable efforts to promptly obtain the withdrawal of such order;
(l) use its commercially reasonable efforts to obtain a “cold comfort” letter from the Company’s independent public accountants in customary form, addressed to each of the underwriters, as applicable, and make available to Selling Holders, covering such matters of the type customarily covered by “cold comfort” letters as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day managing underwriters reasonably request;
(m) provide a legal opinion of the Company’s first full quarter after outside counsel addressed to the Company, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, dated the date of the closing under the underwriting agreement), with respect to the registration statement, which earnings statement shall satisfy each amendment and supplement thereto, the provisions of Section 11(aprospectus included therein (including the preliminary prospectus) and such other documents relating thereto in customary form, and reasonably acceptable to the managing underwriters, and covering such matters of the Securities Act and Rule 158 thereundertype customarily covered by legal opinions of such nature;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xvn) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and;
(xvio) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder register or underwriter and the distribution of qualify such Registrable Securities as the Company may from time to time reasonably request to complete under such other securities or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers “blue sky” laws of such Registrable Securities), unlegended certificates representing ownership jurisdictions as any seller or underwriter reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities being sold owned by such seller (unlessprovided, that the Company will not be required to (x) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph, (y) consent to general service of process in any such jurisdiction, or (z) subject it to taxation in any such jurisdiction);
(p) make up to three (3) appropriate personnel of the Company reasonably available to assist the underwriters with respect to, and accompany the underwriters on the so-called “road show”, in connection with the Company’s sole discretionmarketing efforts for, such Registrable Securities are to be issued in uncertificated form pursuant to and the customary arrangements for issuing shares in such form), in such denominations as requested distribution and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition sale of Registrable Securities pursuant to any Demand Registration at times that may be mutually and reasonably agreed upon; provided, that the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt personnel of the copies Company shall not be required to participate in “road shows” (including presentations and any other marketing or selling events) in excess of five (5) Business Days per Demand Registration;
(q) at any time the supplemented or amended prospectus contemplated by Section 3.6(a)(ixCompany is a well-known seasoned issuer (as defined in Rule 405 under the Securities Act) and(a “WKSI”), use its commercially reasonable efforts to remain a WKSI (and not become an ineligible issuer (as defined in Rule 405 under the Securities Act)) so long as the Equityholders hold Registrable Securities;
(r) if so directed by the Company, deliver to the Companyan Automatic Shelf Registration Statement covering Registrable Securities has been outstanding for at least three years, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession end of the prospectus current third year, file a new Automatic Shelf Registration Statement covering all of the Registrable Securities (and keep such new Automatic Shelf Registration Effective in accordance with the terms hereof);
(s) if at the any time of receipt of such notice relating to such Registrable Securities. In the event when the Company shall give such noticeis required to re-evaluate its WKSI status the Company determines that it is not a WKSI and an Automatic Shelf Registration Statement covering Registrable Securities is then outstanding, any applicable 60-day period during which file a shelf registration statement on Form S-3 and keep such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from as required in the date proviso to Section 5(b); and
(t) take such other actions and deliver such other documents and instruments as may be reasonably necessary to facilitate the registration and disposition of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the CommissionRegistrable Securities as contemplated hereby.
Appears in 2 contracts
Samples: Registration Rights Agreement (DigitalBridge Group, Inc.), Purchase and Sale Agreement (DigitalBridge Group, Inc.)
Registration Procedures. In connection with the Company's registration obligations pursuant to Sections 2, 3 and 3A hereof, the Company will use its reasonable best efforts to effect such registration to permit the sale of the Registrable Securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto the Company will as expeditiously as possible:
(a) If and whenever the Company is required with respect to use commercially reasonable efforts registrations made pursuant to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Section 2 only, the Company shall as promptly as practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission SEC a registration statement Registration Statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules Registrable Securities and regulations of the Commission, and thereafter use commercially its reasonable best efforts to cause such registration statement Registration Statement to remain become effective pursuant to as soon as practicable, and, upon the terms request of this Agreement; provided, however, that the Company may discontinue any registration Holder of its securities which are not Registrable Securities at any time prior to the be sold under such Registration Statement (a "Rights Holder"), keep such Registration Statement effective date of the registration statement relating thereto; providedfor up to ninety (90) days, further that provided that, before filing such registration statement any Registration Statement or Prospectus or any amendments or supplements thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) Rights Holders and their counsel, copies of all such documents proposed to be filedfiled at least three (3) days prior thereto, provided, further, that the Company will not name or otherwise provide any information with respect to any Rights Holder in any Registration Statement or Prospectus without the express written consent of such Rights Holder, which documents will consent shall not be subject unreasonably withheld, unless required to do so by the review of such counsel, Securities Act and such review to be conducted with reasonable promptnessthe rules and regulations thereunder;
(iib) prepare and file with the Commission SEC such amendments (including amendments, post-effective amendments) amendments and supplements to such registration statement the Registration Statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein Prospectus as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act and the rules and regulations thereunder with respect to the disposition of all securities covered by such registration statement until Registration Statement;
(c) promptly notify the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or Rights Holders (i) in when the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus Prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment theretoamendment, when the same has become effective;
, (2ii) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus Prospectus or for additional information;
, (3iii) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
, (4iv) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat threatening of any proceeding for such purpose;
purpose and (ixv) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of whichwhich makes any statement made in the Registration Statement, the prospectus included Prospectus or any document incorporated therein by reference untrue or which requires the making of any changes in the Registration Statement, the Prospectus or any document incorporated therein by reference so that such registration statement, as then in effect, includes an documents will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein not misleadingtherein, andin light of the circumstances under which they were made, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(xd) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible time;
(xie) otherwise use commercially reasonable efforts to comply with if requested by the Approved Underwriter or Rights Holder, (i) promptly incorporate in a Prospectus supplement or post-effective amendment such information as the Approved Underwriter and such Rights Holder agree should be included therein as required by applicable law and (ii) make all applicable rules and regulations required filings of such Prospectus supplement or such post-effective amendment promptly after the Company has received notification of the Commissionmatters to be incorporated in such Prospectus supplement or such post-effective amendment; provided, and make available however, that the Company shall not be required to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day take any of the actions of this Section 6(e) which it determines are not, on the advice of counsel for the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderrequired under applicable law;
(xiif) furnish to each Rights Holder, without charge, at least one copy of the Registration Statement and any post-effective amendment thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits (including those incorporated by reference);
(g) deliver to the Rights Holders, without charge, such reasonable number of conformed copies of the Registration Statement (and any post-effective amendment thereto) and such number of copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto (and any documents incorporated by reference therein) as the Rights Holders may reasonably request, all in full conformity with the Securities Act; the Company consents to the use of the Prospectus or any amendment or supplement thereto by the Rights Holders in connection with the offer and sale of the Registrable Securities covered by the Prospectus or any amendment or supplement thereto;
(h) prior to any offering of Registrable Securities covered by a Registration Statement, register or qualify or cooperate with the Rights Holders in connection with the registration or qualification of such Registrable Securities for offer and sale under the securities or blue sky laws of such jurisdictions as any Rights Holder reasonably requests, and use its reasonable best efforts to keep each such registration or qualification effective, including through new filings, or amendments or renewals, during the period such Registration Statement is required to be kept effective pursuant to the terms of this Agreement; and do any and all other acts or things necessary or advisable to enable the disposition in all such jurisdictions reasonably requested by such Rights Holder, provided that under no circumstances shall the Company be required in connection therewith or as a condition thereof to qualify to do business, to become subject to taxation or to file a general consent to service of process in any such states or jurisdictions;
(i) cooperate with the sellers Rights Holders and the managing underwriter or underwriters to facilitate the timely preparation and delivery of certificates (which shall not bear representing Registrable Securities to be sold, free of any and all restrictive legends unless required under applicable law)legends, if necessary or appropriate, representing securities sold under any registration statement, and enable such securities certificates to be in such denominations and registered in such names as the managing underwriter or such sellers underwriters, if any, or the Rights Holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriaterequest;
(xiiij) have appropriate officers upon the occurrence of the Company any event contemplated by Section 6(c)(v) above, prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” Registration Statement or the Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading;
(xvk) cooperate make generally available to the holders of the Company's outstanding securities earnings statements satisfying the provisions of Section 11(a) of the Securities Act, no later than forty-five (45) days after the end of any twelve (12) month period (or ninety (90) days, if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in a firm or best efforts underwritten offering, or, if not sold to underwriters in such an offering, (ii) beginning with the first month of the Company's first fiscal quarter commencing after the effective date of the Registration Statement, which statements shall cover said twelve (12) month period;
(l) provide and assist in any filings required cause to be made with maintained a transfer agent and registrar for all Registrable Securities covered by each Registration Statement from and after a date not later than the Financial Industry Regulatory Authorityeffective date of such Registration Statement;
(m) use its reasonable best efforts to cause all Registrable Securities covered by each Registration Statement to be listed, Inc. subject to notice of issuance, prior to the date of the first sale of such Registrable Securities pursuant to such Registration Statement, on each securities exchange on which the Shares issued by the Company are then listed, and admitted to trading on the Nasdaq Stock Market or other national exchange, if the Shares are then admitted to trading on the Nasdaq Stock Market or such national exchange;
(“FINRA”n) enter into such agreements (including underwriting agreements in customary form containing, among other things, reasonable and customary indemnities) and take such other actions as the Rights Holders shall reasonably request in order to expedite or facilitate the performance disposition of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAsuch Registrable Securities; and
(xvio) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations furnish, at the request of the Commission and all reporting requirements under Rights Holders, on the rules and regulations date that Registrable Securities are delivered to an underwriter for sale in connection with an underwritten registration, or, in connection with any other registration, on the date that the Registration Statement with respect to such registration becomes effective, (i) an opinion, dated such date, of the Exchange Act. The counsel representing the Company may require each Selling Holder for the purpose of such registration, in form and each underwritersubstance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to furnish the Company Rights Holders, (ii) a letter dated such date, from the independent certified public accountants of the Company, in writing form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Rights Holders, subject to such Rights Holders' provision of information regarding each Selling Holder or underwriter and reasonably requested by such independent certified public accountants to comply with the distribution rules governing delivery of such Registrable Securities as letters, and (iii) cause the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter to contain indemnification provisions and procedures no less favorable than those set forth in Section 8 hereof (or underwriters containing representations, warranties, indemnities such other provisions and agreements customarily included (but not inconsistent with procedures acceptable to the covenants and agreements of the Company contained hereinRights Holders) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered all parties to be indemnified pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Section. Each Selling Rights Holder agrees that that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix)6(c)(v) hereof, such Selling Rights Holder shall will forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant under the Prospectus related to the applicable registration statement and prospectus relating thereto Registration Statement until such Selling Rights Holder’s 's receipt of the copies of the supplemented or amended prospectus Prospectus contemplated by Section 3.6(a)(ix6(j) andhereof, if so directed or until it is advised in writing by the Company, deliver Company that the use of the Prospectus may be resumed. It shall be a condition precedent to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession obligations of the prospectus current at the time of receipt of such notice relating Company to such Registrable Securities. In the event the Company shall give such notice, take any applicable 60-day period during which such registration statement must remain effective action pursuant to this Agreement Section 6 with respect to the Registrable Securities of a Rights Holder that such Rights Holder shall furnish to the Company such information regarding itself and the Registrable Securities held by it as shall be extended required by the number of days during Securities Act to effect the period from the date of giving of a notice regarding the happening of an event registration of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus Rights Holder's Registrable Securities and such prospectus shall have been filed with the Commissionas typically provided by similarly situated selling stockholders.
Appears in 2 contracts
Samples: Registration Rights Agreement (Goldman Sachs Group Inc), Registration Rights Agreement (Orion Power Holdings Inc)
Registration Procedures. (a) If and whenever in the case of the registration, qualification or compliance effected by the Company is required pursuant to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Section 3 hereof, the Company shall will keep each Holder reasonably advised in writing as promptly as practicable (in each case, to the extent applicable):initiation of each registration, qualification and compliance and as to the completion thereof. With respect to any registration statement filed pursuant to Section 3, the Company shall:
(i) prepare and file with the Commission with respect to such Registrable Securities, a registration statement to effect such registrationon any form which (a) the Company then qualifies for, cause such registration statement to become effective at (b) counsel for the earliest possible date permitted under Company deems appropriate, and (c) is available for the rules and regulations resale of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to in accordance with the effective date intended method(s) of the registration statement relating theretodistribution thereof; provided, further provided that no later than five (5) business days before filing such with the Commission a registration statement or prospectus or any amendments or supplements thereto, including documents incorporated by reference after the initial filing of any registration statement, the Company will must (a) furnish to the underwriters, if any, and to Investor’s counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling HoldersInvestor’s Counsel”) copies of all such documents proposed to be filed (excluding any exhibits other than applicable underwriting documents), in substantially the form proposed to be filed, which documents will be are subject to the review of the underwriters and such counsel, and (b) notify each Holder of Registrable Securities covered by such review registration statement of any stop order issued or threatened by the Commission and take all reasonable actions required to be conducted with reasonable promptnessprevent the entry of such stop order or to remove it if entered;
(ii) cause such registration statement to become effective prior to the Registration Deadline and remain effective at least for a period ending with the first to occur of (i) the sale of all Registrable Securities covered by the registration statement, or (ii) the availability under Rule 144 for the Holders to immediately freely resell without restriction all Registrable Securities covered by the registration statement (the “Effectiveness Period”);
(iii) if a registration statement is subject to review by the Commission, promptly respond to all comments and diligently pursue resolution of any comments to the satisfaction of the Commission;
(iv) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective during the Effectiveness Period and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of during such time as all of such securities have been disposed of period in accordance with the intended methods method(s) of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivestatement;
(iiiv) furnish furnish, without charge, to each Selling the Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies one (1) signed copy of such registration statement and of (excluding any exhibits thereto other than applicable underwriting documents), each amendment and supplement thereto (including one (1) conformed copy to each Holder and one (1) signed copy to each managing underwriter and in each case including all exhibitsexhibits thereto), and such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act) as such Holders may request, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerHolder, but only during the Effectiveness Period;
(ivvi) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other applicable securities laws or blue sky laws of such jurisdictions as any Selling Holder Holder, and any underwriter underwriter, if any, of Registrable Securities covered by such registration statement as may be necessary for the marketability of the securities being sold Registrable Securities (such request to be made by such Selling Holder shall reasonably request, the time the applicable registration statement is deemed effective by the Commission) and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holdereach underwriter, except if any; provided that the Company shall is not for any such purpose be required to (a) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause Section 4(a)(vi), (ivb) be obligated to be so qualifiedregister as a securities dealer, to or (c) subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for immediately notify each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, which causes the prospectus included in such registration statement, as then in effect, includes statement to contain an untrue statement of a material fact or omits omit any material fact required to be stated therein or necessary to make the statements therein not misleading and promptly prepare and furnish to such Holder a supplement or amendment to such prospectus (or prepare and file appropriate reports under the Exchange Act) so that, as thereafter delivered to the Investor, such prospectus does not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at unless suspension of the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment use of such prospectus as may otherwise is authorized herein or in the event of a Blackout Period, in which case no supplement or amendment need be necessary so that, as thereafter delivered to furnished (or Exchange Act filing made) until the purchasers termination of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact suspension or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;Blackout Period; and
(xviii) make every reasonable effort comply, and continue to obtain comply during the withdrawal of any order suspending the effectiveness of period that such registration statement;
(xi) otherwise use commercially reasonable efforts to comply statement is effective under the Securities Act, in all material respects with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers Exchange Act and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and with respect to the disposition of all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required securities covered by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that that, upon receipt of any written notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix)4(a)(vii) or of the commencement of a Blackout Period, such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix4(a)(vii) hereof or notice of the end of the Blackout Period, as applicable, and, if so directed by the Company, such Holder must deliver to the CompanyCompany all copies (including, at the Company’s expensewithout limitation, any and all copiesdrafts), other than permanent file copies, then in such Selling Holder’s possession possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice relating to such Registrable Securitiesnotice. In the event the Company shall give gives any such notice, any applicable 60-day the period during which such registration statement must remain effective pursuant to this Agreement shall be mentioned in Section 4(a)(i) hereof is extended by the greater of (i) ten (10) business days or (ii) the number of days during the period from and including the date of the giving of a such notice regarding the happening of an event of the kind described in pursuant to Section 3.6(a)(ix4(a)(vii) hereof to and including the date when all each Holder of Registrable Securities covered by such Selling Holders shall receive such a registration statement has received the copies of the supplemented or amended prospectus and such prospectus shall have been filed with the Commissioncontemplated by Section 4(a)(vii) hereof.
Appears in 2 contracts
Samples: Registration Rights Agreement (Fortified Holdings Corp.), Registration Rights Agreement (Aegis Industries, Inc.)
Registration Procedures. (a) If In connection with each Registration, and whenever in accordance with the Company is required to use commercially reasonable efforts to effect intended method or methods of distribution of the registration of any Registrable Securities under the Securities Act Registered Shares as provided described in Sections 3.1 and 3.2such Registration, the Company shall shall, as promptly soon as reasonably practicable (and, in each caseany event, subject to the extent applicableterms of this Agreement, including, without limitation, Section 3.01(a), at or before the time required by applicable laws and regulations):
(i) prepare and file with the Commission as provided herein a registration statement with respect to effect such registration, Registered Shares on a registration form appropriate for such registration and use its reasonable best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreementpromptly; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further PROVIDED that before filing such a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to the counsel selected by Stockholder and the holders of Registrable Securities which are managing underwriter or underwriters (if the Demand Registration pertains to be included in such registration (“Selling Holders”an underwritten offering) draft copies of all such documents proposed to be filedfiled at least three days prior to such filing, which documents will be subject to the reasonable review of such counselthe Stockholder, the managing underwriter or underwriters (if the Demand Registration pertains to an underwritten offering), and their respective agents and representatives. In the event that the Company proposes to include in any Registration information concerning or relating to the Stockholder to which the Stockholder shall reasonably object, the Company and the Stockholder shall cause their respective senior executives to discuss the Stockholder's objection and to negotiate in good faith an appropriate resolution of such review objection. The Company shall not be deemed to be conducted with reasonable promptness;in breach of the second sentence of Section 3.01(a) as the result of the parties' failure to conclude such discussions during the 60 day period referred to therein.
(ii) upon request by the Stockholder, furnish without charge to the Stockholder and the managing underwriter or underwriters, if any, thereof, a reasonable number of copies of the Registration and each amendment and supplement thereto (in each case including all exhibits thereto), each prospectus included in such Registration (including each preliminary prospectus) and any amendments or supplements thereto and any documents incorporated therein by reference;
(iii) use its reasonable best efforts to keep such Registration effective for at least 90 days (the "EFFECTIVE PERIOD"); prepare and file with the Commission such amendments (including amendments, post-effective amendments) amendments and supplements to such registration statement the Registration and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective maintain the effectiveness of the Registration for the Effective Period and to cause the prospectus (and any amendments or supplements thereto) to be filed pursuant to Rules 424 and 430A under the Securities Act and/or any successor rules that may be adopted by the Commission, as such rules may be amended from time to time; and comply with the provisions of the Securities Act with respect to the disposition of all securities Registered Shares covered by such registration statement until Registration during the earlier of such time as all of such securities have been disposed of applicable period in accordance with the intended method or methods of disposition distribution thereof, as specified in writing by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerStockholder;
(iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by the Stockholder or by any sellerunderwriter, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter the Stockholder (collectively, the “Inspectors”"INSPECTORS"), all upon reasonable request during normal business hours, financial and other records, records and pertinent corporate documents and properties of the Company, provide the Inspectors with opportunities to discuss the business of the Company (collectivelywith its officers, and provide opportunities to discuss the “Records”)business of the Company with the independent public accountants who have certified its most recent annual financial statements, as shall be in each case to the extent but only to the extent reasonably necessary to enable them the Stockholder or any underwriter retained by the Stockholder to exercise their due diligence responsibilityconduct a "reasonable investigation" for purposes of Section 11(a) of the Securities Act. The Stockholder agrees, and the Stockholder shall cause each Inspector to agree, that records that the Company’s officersCompany determines, directors in good faith, to be confidential and employees to supply all information requested that it notifies the Inspectors are confidential shall not be disclosed by the Stockholder or any such Inspector, or used by the Stockholder or an Inspector for a purpose other than as described in connection with such registration statement; provided, however, that, the preceding sentence unless (1) the disclosure of such Records records is necessary to avoid or correct a misstatement of a material fact or omission to state a material fact in the registration statement or Registration, (2) the release disclosure of such Records records is ordered pursuant to a subpoena required by any court or other order from a court of competent jurisdictiongovernmental body with jurisdiction over the Stockholder or such Inspector, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii3) if either (A) all of the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable records has been made generally available to the Company; and provided, further, that each Holder public without any fault on the part of Registrable Securities the Inspector. The Stockholder agrees that it will, upon learning that disclosure of such Records records is sought in a court of competent jurisdictionjurisdiction or by any governmental body, promptly give prior notice to the Company and allow the Company, at its expense, to undertake appropriate action (and the Stockholder shall cooperate with and assist the Company as requested in taking such action) to prevent disclosure of the Records those records deemed confidential;
(viiiv) promptly notify in writing each Selling Holder the Stockholder and the managing underwriter or underwriters, if any, of the following events:
thereof, after becoming aware thereof, (1) when the filing of the registration statement, the Registration or any related prospectus or any prospectus amendment or supplement related theretohas been filed, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement Registration or any post-effective amendment theretoamendment, when the same has become effective;
, (2) of any request by the Commission for amendments or supplements to the registration statement Registration or the related prospectus or for additional information;
, (3) of the issuance by the Commission of any stop order suspending the effectiveness of the registration statement Registration or the initiation of any proceedings by any Person for that purpose;
, (4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities the Registered Shares for sale under the securities or blue sky laws of in any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon after becoming aware thereof, within the Effective Period, of the happening of any event as a result which makes any statement in the Registration or any post-effective amendment thereto, prospectus or any amendment or supplement thereto, or any document incorporated therein by reference untrue in any material respect or which requires the making of which, any changes in the Registration or post-effective amendment thereto or prospectus included in such registration statement, as then in effect, includes an or amendment or supplement thereto so that they will not contain any untrue statement of a material fact or omits omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at (in the request case of any Selling Holderprospectus, promptly prepare and furnish to such seller a reasonable number in the light of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein circumstances under which they were made) not misleading;
(xvi) make every during the Effective Period, use its reasonable effort best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration or any post-effective amendment thereto;
(xivii) otherwise use commercially its reasonable best efforts to comply with all applicable rules register or qualify the Registered Shares for offer and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date sale under such securities or "blue sky" laws of such registration statementstates or other U.S. jurisdictions as the Stockholder and the managing underwriter or underwriters, which earnings statement if any, thereof shall satisfy reasonably request in writing; PROVIDED that the provisions Company shall not be required for any such purpose to (1) qualify as a foreign corporation in any jurisdiction where it would not otherwise be required to qualify but for the requirements of this Section 11(a3.04(a)(vii), or (2) consent to general service of the Securities Act and Rule 158 thereunderprocess in any such jurisdiction;
(xiiviii) use its reasonable best efforts to cause the Registered Shares to be registered with or approved by such other governmental agencies or authorities within the United States as may be necessary by virtue of the markets on which the Registered Shares are listed or quoted to enable the Stockholder to consummate the disposition of such Registered Shares;
(ix) cooperate with the sellers Stockholder and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates (representing such Registered Shares to be sold, which certificates shall not bear any restrictive legends unless except as required under applicable by law), if necessary or appropriate, representing securities sold under any registration statement, ; and enable such securities Registered Shares to be in such denominations and registered in such names as the managing underwriter or such sellers underwriters may request and keep available and make available in writing at least two business days prior to any sale of the Registered Shares to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriateunderwriters;
(xiiix) have appropriate officers enter into such agreements (including, if the offering is an underwritten offering, an underwriting agreement) containing such provisions as are customary in transactions of such kind and are not materially inconsistent with the terms of this Agreement, and take such other actions as are reasonably necessary in connection therewith in order to expedite or facilitate the disposition of such Registered Shares; and (1) obtain an opinion or opinions of legal counsel to the Company (which counsel may be internal counsel for the Company unless the managing underwriter or underwriters shall otherwise reasonably request) in customary form and covering matters of the Company prepare and make presentations at any “road shows” and before analysts and rating agenciestype customarily covered by such opinions, as the case may be, and otherwise use its reasonable best efforts addressed to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing such managing underwriter or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriterunderwriters, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested Stockholder and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from dated the date of giving of a notice regarding the happening of an event closing of the kind described in Section 3.6(a)(ix) to sale of the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.Registered Shares relating thereto; and
Appears in 2 contracts
Samples: Investor Agreement (Fei Co), Investor Agreement (Veeco Instruments Inc)
Registration Procedures. (a) If and whenever Whenever a Holder requests that any Registrable Securities be registered pursuant to Section 2.1, 2.2 or 2.3, subject to the provisions of such Sections, the Company is required to shall use commercially its reasonable efforts to effect the registration and the sale of any such Registrable Securities under in accordance with the Securities Act intended method of disposition thereof as provided soon as reasonably practicable, and, in Sections 3.1 and 3.2, the connection with any such request:
(a) The Company shall as promptly soon as reasonably practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission SEC a registration statement to effect such registration, cause such registration statement to become effective at Registration Statement on any form for which the earliest possible date permitted under Company then qualifies or that counsel for the rules Company deems appropriate and regulations which form shall be available for the sale of the CommissionRegistrable Securities to be registered thereunder in accordance with the intended method of disposition thereof, and thereafter use commercially its reasonable efforts to cause such registration statement filed Registration Statement to become and remain effective for a period of (i) not less than 180 days (or, if sooner, until all Registrable Securities have been sold under such Registration Statement) or (ii) in the case of a Shelf Registration, until the earlier of the date (x) on which all of the securities covered by such Shelf Registration are no longer Registrable Securities and (y) on which the Company cannot extend the effectiveness of such Shelf Registration because it is no longer eligible to use Form S-3. Subject to Section 2.1(f), the Company shall not be deemed to have used its reasonable efforts to keep the Shelf Registration effective if the Company voluntarily takes any action or omits to take any action that would result in the requesting Holder not being able to offer and sell any Registrable Securities pursuant to such Shelf Registration, unless such action or omission is required by applicable law.
(b) Prior to filing a Registration Statement or related prospectus or any amendment or supplement thereto (including any documents incorporated by reference therein), or before using any Free Writing Prospectus, the terms Company shall provide to the Holders and each underwriter, if any, an adequate and appropriate opportunity to review and comment on such Registration Statement, prospectus (and each amendment or supplement thereto) and Free Writing Prospectus, and thereafter the Company shall furnish to the Holders and the underwriter, if any, such number of this Agreementcopies of such Registration Statement, each amendment and supplement thereto filed with the SEC (in each case including all exhibits thereto and documents incorporated by reference therein), prospectus, Free Writing Prospectus and such other documents as a Holder or the underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities owned by a Holder; provided, however, that in no event shall the Company may discontinue be required to provide to any registration of its securities which are not Registrable Securities at Person any time materials, information or documents required to be filed by the Company pursuant to the Exchange Act prior to the effective date of the registration statement relating thereto; provided, further that before its filing such registration statement other than in connection with a Public Offering or any amendments theretopursuant to Section 2.5(g). In addition, the Company will furnish shall, as expeditiously as practicable, keep the Holders advised in writing as to the counsel selected by initiation and progress of any registration under Section 2.1, Section 2.2 and Section 2.3 and provide the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) Holders with copies of all correspondence (including any comment letter) with the SEC, any self-regulatory organization or other governmental agency in connection with any such documents proposed Registration Statement. Each Holder shall have the right to request that the Company modify any information contained in such Registration Statement, amendment and supplement thereto, prospectus or Free Writing Prospectus or other document pertaining to such Holder, and the Company shall use its reasonable efforts to comply with such request.
(c) After the filing of the Registration Statement, the Company shall (i) cause the related prospectus to be filedsupplemented by any required prospectus supplement and, which documents will be subject to the review of such counselas so supplemented, and such review to be conducted with reasonable promptness;
filed pursuant to Rule 424 under the Securities Act; (ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act applicable to the Company with respect to the disposition of all securities Registrable Securities covered by such registration statement until Registration Statement during the earlier of such time as all of such securities have been disposed of applicable period in accordance with the intended methods of disposition by the seller or sellers Holders thereof set forth in such registration statement Registration Statement or supplement to such prospectus; and (iii) promptly notify the Holders of any stop order issued or threatened by the SEC or any state securities commission with respect thereto and take all reasonable actions required to prevent the entry of such stop order or to remove it if entered.
(d) The Company shall use its reasonable efforts to (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(iv) use commercially reasonable efforts to register or qualify such the Registrable Securities covered by such registration statement Registration Statement under such other securities laws or “blue sky sky” laws of such jurisdictions in the United States as any Selling Holder and any underwriter the Holders reasonably (in light of the securities being sold by such Selling Holder shall reasonably requestHolders’ intended plan of distribution) requests, and take any other action which may be reasonably necessary continue such registration or advisable to enable such Selling Holder and underwriter to consummate the disposition qualification in effect in such jurisdictions jurisdiction for the shortest of (A) as long as permissible pursuant to the laws of such jurisdiction, (B) as long as the Holders request or (C) until all of the Holders’ Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause are sold and (ivii) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be reasonably necessary or advisable to enable the Selling Holder(s) thereof Holders to consummate the disposition of such its Registrable Securities;; provided that the Company shall not be required to (x) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 2.5(d), (y) subject itself to taxation in any such jurisdiction or (z) consent to general service of process in any such jurisdiction.
(viie) The Company shall promptly notify each seller of Registrable Securities covered by such Registration Statement and the lead managing underwriter (i) upon the discovery that, or upon the occurrence of an event as a result of which, the preparation of a supplement or amendment to a prospectus is required so that such Registration Statement and, as thereafter delivered to the purchasers of the relevant Registrable Securities, such prospectus (together with any related supplement) will not include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein (in the case of a prospectus or related supplement, in light of the circumstances under which they were made) not misleading, and the Company shall promptly prepare and make available to the Holders listed as selling security holders in such prospectus and file with the SEC any such supplement or amendment; (ii) of any request by the SEC for amendments or supplements to a Registration Statement or related prospectus (or any related supplement) covering Registrable Securities or for additional information relating thereto; (iii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement covering the Registrable Securities; or (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale in any jurisdiction, or the initiation of any proceeding for such purpose.
(f) The Company shall have the right, after consultation with the Holders of a majority of the Registrable Securities initially requested to be included in such Public Offering, to select an underwriter or underwriters in connection with any Public Offering resulting from the exercise of a Demand Registration or a Shelf Registration, such underwriter to be an Underwritten international top-tier firm. In connection with any Public Offering, obtain for each Selling Holder the Company and underwriter:the Holders of Registrable Securities included in such Public Offering shall enter into customary agreements (including an underwriting agreement in customary form) and take all other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities in any such Public Offering.
(1g) an opinion Upon execution of counsel for customary confidentiality agreements in form and substance reasonably satisfactory to the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (Board or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72underwriters or the Inspectors, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (andsubject to customary confidentiality arrangements or understandings, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly shall make available for inspection by any seller, the selling Holders and any underwriter participating in any disposition pursuant to any registration statement, a Registration Statement and any attorney, accountant or other agent or representative professional retained by the selling Holders or any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties documents relating to the business of the Company (collectively, the “Records”), ) as shall be reasonably necessary or desirable to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any such Inspector Inspectors in connection with such registration statementRegistration Statement; providedprovided that the selling Holders shall, howeverand shall use reasonable efforts to cause each such underwriter, thatattorney, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena accountant or other order from a court of competent jurisdiction, professional retained by such selling Holder to minimize the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable disruption to the Company; and provided, further, that ’s business in connection with the foregoing.
(h) The Company shall furnish to each Holder of Registrable Securities agrees that it willincluded in such Registration Statement and to each such underwriter, upon learning that disclosure if any, a signed counterpart, addressed to such Holder or such underwriter, of such Records is sought in a court (i) an opinion or opinions of competent jurisdiction, give notice counsel to the Company and allow (ii) a comfort letter or comfort letters from the Company’s independent public accountants, at its expense, to undertake appropriate action each in customary form and to prevent disclosure covering such matters of the Records deemed confidential;kind customarily covered by opinions or comfort letters, as the case may be, as the Holders or the lead managing underwriter reasonably requests.
(viiii) The Company shall otherwise use reasonable efforts to comply with all applicable rules and regulations of the SEC, and make available to its security holders, as soon as reasonably practicable after the effective date of the Registration Statement, an earnings statement or such other document that shall satisfy the provisions of Section 11(a) of the Securities Act and the requirements of Rule 158 thereunder.
(j) The Company may require the Holders promptly notify to furnish in writing each Selling to the Company such information regarding the distribution of the Registrable Securities by such Holder as the Company may from time to time reasonably request and such other information with respect to such Holder as may be reasonably required in connection with a registration.
(k) Each Holder agrees that upon receipt of any notice from the underwritersCompany of the occurrence of any event of the kind described in Section 2.5(e), such Holder shall forthwith discontinue dispositions of Registrable Securities pursuant to the Registration Statement (including any Shelf Registration) covering such Registrable Securities until such Holder’s receipt of (i) copies of the supplemented or amended prospectus from the Company or (ii) further notice from the Company that distribution can proceed without an amended or supplemented prospectus, and, in the circumstances described in clause (i), if anyso directed by the Company each Holder shall deliver to the Company all copies, other than any permanent file copies then in such Holder’s possession, of the following events:most recent prospectus covering such Registrable Securities at the time of receipt of such notice. If the Company shall give such a notice, the Company shall extend the period during which such registration statement shall be maintained effective (including the period referred to in Section 2.5(a)) by the number of days in the period from and including the date of the giving of notice pursuant to Section 2.5(e) to the date when the Company shall (x) make available to the selling Holders a prospectus supplemented or amended to conform with the requirements of Section 2.5(e) or (y) deliver to each Holder the notice described in clause (ii).
(1l) the filing The Company shall use its reasonable efforts to list all Registrable Securities of any class or series covered by a Registration Statement on any national securities exchange on which any of the registration statementsecurities of such class or series are then listed or traded.
(m) The Company shall use its reasonable efforts to have appropriate officers of the Company (i) upon reasonable request and at reasonable times, prepare and make presentations at any “road shows” and before analysts and rating agencies; (ii) take other actions to obtain ratings for any Registrable Securities; and (iii) otherwise use their reasonable efforts to cooperate as requested by the prospectus underwriters in the offering, marketing or selling of the Registrable Securities.
(n) The Company shall promptly, following its actual knowledge thereof, notify Holders (i) when a prospectus, any prospectus supplement related theretosupplement, any Issuer Free Writing Prospectus a Registration Statement or a post-effective amendment to a Registration Statement has been filed with the registration statement SEC and, with respect to the registration statement a Registration Statement or any post-effective amendment theretoamendment, when the same has become effective;
; (2ii) of any request by the Commission SEC or any other federal or state governmental authority for amendments or supplements to the registration statement or the a Registration Statement, a related prospectus (including a Free Writing Prospectus) or for any other additional information;
; or (3iii) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction jurisdiction, or the initiation or threat threatening of any proceeding proceedings for such purpose;.
(ixo) notify The Company shall reasonably cooperate with the Holders and each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under underwriter participating in the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers disposition of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply Securities and their respective counsel in connection with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“by FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(bp) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the The Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with take all other steps reasonably necessary to effect the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership registration of the Registrable Securities being sold (unless, in and reasonably cooperate with the CompanyHolders to facilitate the disposition of each Holder’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect theretoSecurities.
(cq) Each Selling Holder agrees that upon receipt The Company shall, within the deadlines specified by the Securities Act, make all required filings of all prospectuses (including any Free Writing Prospectus), and all supplements thereto, with the SEC and make all required filing fee payments in respect of any notice from the Registration Statement or related prospectus or supplements thereto used under this Agreement (and any offering covered hereby).
(r) The Company of the happening of any event of the kind described in Section 3.6(a)(ix)shall, if such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities registration is pursuant to the applicable a Registration Statement on Form S-3 or any similar short-form registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) andrelates to any Public Offering, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then include in such Selling Holder’s possession of Registration Statement such additional information for marketing purposes as the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionmanaging underwriter reasonably requests.
Appears in 2 contracts
Samples: Registration Rights Agreement, Registration Rights Agreement (WillScot Corp)
Registration Procedures. (a) If and whenever the Company is required by the provisions of Sections 2.1, 2.2 or 2.3 to use commercially reasonable its best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Act, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare Prepare and file with the Commission a registration statement Registration Statement on the applicable form with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules securities and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement Registration Statement to become and remain effective pursuant to until the terms earlier of this Agreement(i) the sale of all of the Registrable Securities covered thereby and (ii) two years following the commencement of the offering thereunder; provided, however, that in the Company may discontinue case of any registration of its securities Registrable Securities on Form S-3 or on a comparable or successor form which are not intended to be offered on a continuous or delayed basis, such two year period shall be extended, if necessary, until all such Registrable Securities at are sold, provided that Rule 415 or any time prior to successor rule under the effective date of the registration statement relating theretoSecurities Act permits an offering on a continuous or delayed basis; and provided, further that further, that, as soon as practicable but in no event later than five (5) Business Days before filing such registration statement Registration Statement, any related prospectus or any amendments theretoamendment or supplement thereto (other than any amendment or supplement made solely as a result of incorporation by reference of documents filed with the Commission subsequent to the filing of such Registration Statement), the Company will shall furnish to (x) the counsel selected by Lead Investor for so long as the holders Lead Investor continues to hold 5% or more of the outstanding Registrable Securities which are to be included in such registration or is an Affiliate of a director of the Company and (“Selling Holders”y) the underwriters, if any, copies of all such documents proposed to be filed, which documents will shall be subject to review by the review of Lead Investor and any such counsel, and such review to be conducted with reasonable promptnessunderwriters;
(iib) prepare Prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement Registration Statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement Registration Statement effective for the period specified herein and to comply with the provisions of the Securities Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of Registration Statement in accordance with the sellers’ intended methods method of disposition by the seller or sellers thereof set forth in such registration statement or (iRegistration Statement for such period; provided, that the Company shall comply with the provisions of Section 2.4(a) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveabove;
(iiic) furnish Furnish to the Holders and to each Selling Holder underwriter copies of the Registration Statement and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including together with all exhibits), such number of copies of exhibits thereto) and the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) included therein and any other prospectus filed under Rule 424 or Rule 434 under the Securities Act, in conformity with Act as the requirements of the Securities Act, and any Issuer Free Writing Prospectus Holders and such other documents as such Selling Holder and underwriter, if any, underwriter reasonably may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned covered by such sellerRegistration Statement;
(ivd) use commercially reasonable Use its best efforts to register or qualify such the Registrable Securities covered by such registration statement Registration Statement under such other the securities laws or “blue sky sky” laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions sellers of the Registrable Securities owned by such Selling Holderor, except in the case of an underwritten public offering, the managing underwriter reasonably shall request; provided, however, that the Company shall not for any such purpose be required to (i) qualify generally to do transact business as a foreign corporation in any jurisdiction wherein where it would is not but for the requirements of this clause (iv) be obligated to be so qualified, (ii) consent to subject itself general service of process or (iii) submit to taxation in any such jurisdiction or to file a general consent jurisdiction, unless the Company is already subject to service of process or subject to taxation in any such jurisdiction;
(ve) use commercially reasonable Use its best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by list or qualify the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with Registration Statement on any securities exchange or approved by such other governmental agencies or authorities as may be necessary to enable quotation system on which the Selling Holder(s) thereof to consummate the disposition of such Registrable SecuritiesCommon Stock is then listed;
(viif) Comply in connection all material respects with an Underwritten Offering, obtain for each Selling Holder all applicable rules and underwriter:
(1) an opinion of counsel for regulations under the Company, covering the matters customarily covered in opinions requested in underwritten offerings Securities Act and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement)Exchange Act;
(3g) promptly make available for inspection by any seller, any Immediately notify the Holders and each underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any under such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling HolderRegistration Statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a which has resulted or would result of which, in the prospectus included contained in such registration statementRegistration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading, and promptly prepare and furnish to such seller and underwriter an updated prospectus;
(h) If the offering is underwritten, and at each Holder’s request, use its best efforts to furnish on the date that Registrable Securities are delivered to the underwriters for sale pursuant to such registration (i) an opinion, dated such date, of counsel to the Company, addressed to the underwriters and the Holders to such effect as reasonably may be requested by the underwriters, and (ii) a letter, dated such date, from the independent public accountants retained by the Company, addressed to the underwriters and, if applicable, the Holders requesting registration of Registrable Securities, in form and substance as is customarily given by independent public accountants to underwriters in an underwritten public offering, and deliver copies of such letter to such Holders;
(i) Upon reasonable notice and at reasonable times during normal business hours, make available for inspection by (x) make every the Lead Investor for so long as the Lead Investor continues to hold 5% or more of the outstanding Registrable Securities or is an Affiliate of a director of the Company and (y) any underwriter participating in any distribution pursuant to such Registration Statement, and any attorney, accountant or other agent retained by such Holders or such underwriter, reasonable effort access to obtain all financial and other records, pertinent corporate documents and properties of the withdrawal Company, as such parties may reasonably request, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any of the Holders, such underwriter, attorney, accountant or agent in connection with such Registration Statement;
(j) Notify the Holders (i) when the prospectus or any prospectus supplement or post-effective amendment has been filed, and, with respect to such Registration Statement or any post-effective amendment, when the same has become effective, (ii) of any request by the Commission for amendments or supplements to such Registration Statement or to amend or supplement such prospectus or for additional information, (iii) of the issuance by the Commission of any stop order suspending the effectiveness of such Registration Statement or the initiation of any proceeding for that purpose and (iv) of the suspension of the qualification of securities covered by such registration statementfor offering or sale in any jurisdiction, or of the initiation of any proceeding for any of such purposes;
(xik) otherwise Take such other actions as the Holders or the underwriters reasonably request in order to expedite or facilitate the disposition of the Registrable Securities, including, without limitation, preparing for, and participating in, such number of “road shows” and all such other customary selling efforts as the underwriters reasonably request in order to expedite or facilitate such disposition;
(l) Use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness and, if such order is issued, obtain the withdrawal of any such order as soon as reasonably possible; and
(m) Otherwise use commercially its reasonable best efforts to comply with all applicable rules and regulations of the Commission, Commission under the Securities Act and the Exchange Act and take such other actions as may be reasonably necessary to facilitate the registration of the Registrable Securities hereunder; and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, but not later than the Availability Date (as defined below), an earnings statement covering the a period of at least 12 months, but not more than 18 twelve (12) months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statementeach Registration Statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with for the sellers and the managing underwriter to facilitate the timely preparation and delivery purpose of certificates (which shall not bear any restrictive legends unless required under applicable lawthis Section 2.4(m), “Availability Date” means the forty-fifth (45th) day following the end of the fourth fiscal quarter that includes the effective date of such Registration Statement, except that, if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as fourth fiscal quarter is the managing underwriter or such sellers may request and keep available and make available to last quarter of the Company’s transfer agent prior to fiscal year, “Availability Date” means the effectiveness ninetieth (90th) day after the end of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementfourth fiscal quarter).
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Investors’ Rights Agreement (REVA Medical, Inc.), Investors’ Rights Agreement (REVA Medical, Inc.)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable its best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2, the Company shall as promptly as practicable (in each case, to the extent applicable):will promptly:
(ia) subject to clauses (x), (y) and (z) of Section 3.1(b), prepare and file with the Securities and Exchange Commission as soon as practicable and in any event within 90 days, after receipt of a request pursuant to Section 3.1 a registration statement with respect to effect such registrationsecurities, make all required filings with the NASD and use best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessnearest practicable date;
(iib) prepare and file with the Securities and Exchange Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein such other documents as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) statement, but in the case no event for a period of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days more than six months after such registration statement becomes effective;
(iiic) furnish to counsel (if any) selected by the holders of a majority (by number of shares) of the Registrable Securities covered by such registration statement and to counsel for the underwriters in any underwritten offering copies of all documents proposed to be filed with the Securities and Exchange Commission (including all documents to be filed on a confidential basis) in connection with such registration, which documents will be subject to the review of such counsel; the Company shall not file any registration statement or prospectus or any amendments or supplements thereto pursuant to a registration under Section 3.1(a) if the holders of a majority of the Registrable Securities covered by such registration statement, their counsel, or the underwriters, if any, shall reasonably object in writing;
(d) furnish to each Selling Holder and each underwriterseller of such securities, if anywithout charge, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case case, including all exhibitsexhibits and documents filed therewith (other than those filed on a confidential basis), except that the Company shall not be obligated to furnish any seller of securities with more than two copies of such exhibits and documents), such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities securities owned by such seller;
(ive) use commercially reasonable its best efforts to register or qualify such Registrable Securities the securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderseller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would is not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction wherein it is not so subject, or take any action which would subject it to file a general consent to service of process in any such jurisdictionjurisdiction wherein it is not so subject;
(vf) use commercially reasonable efforts furnish to cause such Registrable Securities each seller a signed counterpart, addressed to be listed on each securities exchange on which similar securities issued by the Company are then listed andsellers, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;of
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1i) an opinion of counsel for the CompanyCompany experienced in securities law matters, covering dated the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriterseffective date of the registration statement, and
(2ii) a “"comfort” " letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified issued an audit report on the Company’s 's financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant subject to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial having executed and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable delivered to the Company; independent public accountants such certificates and provideddocuments as such accountants shall reasonably request, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to covering substantially the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, same matters with respect to the registration statement (and the prospectus included therein) and, in the case of such accountants' letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer's counsel and in accountants' letters delivered to the underwriters in underwritten Public Offerings of securities;
(i) notify each seller of any securities covered by such registration statement if such registration statement, at the time it or any amendment thereto became effective, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and, as promptly as practicable, prepare and file with the Securities and Exchange Commission a post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the such registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for and use best efforts to cause such post-effective amendment to become effective such that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the such registration statement; and
, as so amended, shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and (5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixii) notify each Selling Holderholder of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, if the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading, and, at the request of any Selling Holderas promptly as is practicable, promptly prepare and furnish to such seller holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they were made, not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xih) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the Securities and Exchange Commission, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy Company complying with the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderunder the Securities Act;
(xiii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery notify each seller of certificates any securities covered by such registration statement (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any i) when such registration statement, and enable or any post-effective amendment to such securities to be in such denominations and registered in such names as the managing underwriter registration statement, shall have become effective, or such sellers may request and keep available and make available any amendment of or supplement to the Company’s transfer agent prior prospectus used in connection therewith shall have been filed, (ii) of any request by the Securities and Exchange Commission to amend such registration statement or to amend or supplement such prospectus or for additional information, (iii) of the issuance by the Securities and Exchange Commission of any stop order suspending the effectiveness of such registration statement a supply or of any order preventing or suspending the use of any preliminary prospectus, and (iv) of the suspension of the qualification of such certificates as necessary securities for offering or appropriatesale in any jurisdiction, or of the institution of any proceedings for any of such purposes;
(xiiij) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts (i) (x) to cooperate as reasonably requested list such securities on any securities exchange on which the Common Stock is then listed or, if no Common Stock is then listed, on an exchange selected by the Selling Holders Company, if such listing is then permitted under the rules of such exchange or (y) if such listing is not practicable or the Board determines that quotation as a NASDAQ National Market System security is preferable, to secure designation of such securities as a NASDAQ "national market system security" within the meaning of Rule 11Aa2-1 under the Exchange Act or, failing that, to secure NASDAQ authorization for such securities, and, without limiting the foregoing, to arrange for at least two market makers to register as such with respect to such securities with the NASD, (ii) to provide a transfer agent and registrar for such Registrable Securities not later than the underwriters in the offering, marketing or selling effective date of such registration statement and (iii) to obtain a CUSIP number for the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvik) otherwise use commercially every reasonable efforts effort to comply with all applicable rules and regulations obtain the lifting of any stop order that might be issued suspending the Commission and all reporting requirements under effectiveness of such registration statement or of any order preventing or suspending the rules and regulations use of the Exchange Actany preliminary prospectus. The Company may require each Selling Holder and each underwriter, if any, seller of any securities as to which any registration is being effected to furnish to the Company in writing such information regarding each Selling Holder or underwriter such seller and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request in writing and as shall be required by law in connection therewith. Each such holder agrees to complete or amend furnish promptly to the Company all information required to be disclosed in order to make the information required previously furnished to the Company by such holder not materially misleading. The Company agrees not to file or make any amendment to any registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements statement with respect to offerings of common stock for the account ofany Registrable Securities, or on behalf ofany amendment of or supplement to the prospectus used in connection therewith, which refers to any seller of any securities covered thereby by name, or otherwise identifies such seller as the holder of any securities of the Company, without the consent of such seller, such issuersconsent not to be unreasonably withheld, except that no such consent shall be required for any disclosure that is required by law. In connection with any offering By acquisition of Registrable Securities registered pursuant to this AgreementSecurities, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers each holder of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are shall be deemed to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees have agreed that upon receipt of any notice from the Company of the happening of any event of the kind described in pursuant to Section 3.6(a)(ix3.3(g), such Selling Holder shall forthwith holder will promptly discontinue such Selling Holder’s holder's disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holder’s receipt holder shall have received, in the case of clause (i) of Section 3.3(g), notice from the Company that such registration statement has been amended, as contemplated by Section 3.3(g), and, in the case of clause (ii) of Section 3.3(g), copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if 3.3(g). If so directed by the Company, each holder of Registrable Securities will deliver to the Company, Company (at the Company’s 's expense, ) all copies, other than permanent file copies, then in such Selling Holder’s holder's possession of the prospectus current covering such Registrable Securities at the time of receipt of such notice relating to such Registrable Securitiesnotice. In the event that the Company shall give any such notice, any applicable 60-day the period during which such registration statement must remain effective pursuant to this Agreement mentioned in Section 3.3(b) shall be extended by the number of days during the period from and including the date of the giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to and including the date when all each seller of any Registrable Securities covered by such Selling Holders registration statement shall receive such a have received the copies of the supplemented or amended prospectus and such prospectus contemplated by Section 3.3(g). Notwithstanding any other provision of this Agreement, the parties hereto acknowledge that the Company shall have been filed with no obligation to prepare or file any registration statement prior to the Commissiontime that financial information required to be included therein is available for inclusion therein.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Fidelity National Financial Inc /De/), Registration Rights Agreement (Fidelity National Financial Inc /De/)
Registration Procedures. (a) If If, and whenever in each case when, the Company is required to use commercially reasonable efforts to effect the a registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2this Section 3, the Company shall as promptly as practicable promptly:
(a) prepare and, in each case, any event within forty-five days (thirty days in the case of a Form S-3 registration) after the end of the period under Section 3.2.1(a) within which a piggyback request for registration may be given to the extent applicable):
(i) prepare and Company, file with the Commission a registration statement Registration Statement with respect to effect such registrationRegistrable Securities and use, cause such registration statement to become effective at in the earliest possible date permitted under event the rules and regulations of the CommissionCompany is not a WKSI, and thereafter use its commercially reasonable efforts to cause such registration statement Registration Statement to remain become effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date within ninety days of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessinitial filing;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement Registration Statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement Registration Statement effective (i) in the case of a shelf Registration Statement, until the earlier of (A) the date on which all remaining Registrable Securities may be sold under Rule 144 under the Securities Act without regard to volume limitations or (B) two years after the effective date of such Registration Statement, or (ii) in all other cases for a period not in excess of 270 days (in each case, or such shorter period which will terminate when all Registrable Securities covered by such Registration Statement have been sold) and to comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all securities covered by such registration statement until the earlier of Registration Statement during such time as all of such securities have been disposed of period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement Registration Statement; provided that before filing a Registration Statement or (i) prospectus, or any amendments or supplements thereto in accordance with Sections 3.1 or 3.2, the case of a Demand Registration Company will furnish to counsel selected pursuant to Section 3.13.3.3 hereof copies of all documents proposed to be filed, which documents will be subject to the expiration review of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivecounsel;
(iiic) furnish to each Selling Holder and each underwriter, if any, seller of the securities being sold by such Selling Holder Registrable Securities such number of conformed copies of such registration statement Registration Statement and of each amendment and supplement thereto (in each case including all exhibitsexhibits filed therewith), such number of copies of the prospectus contained included in such registration statement Registration Statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;
(ivd) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of in such jurisdictions as any Selling Holder and any underwriter each seller of the securities being sold by such Selling Holder Registrable Securities shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition of Registrable Securities in such jurisdictions of the Registrable Securities owned by such Selling Holderjurisdictions, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not where (but for the requirements of this clause (ivd)) it would not be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to general service of process in any such jurisdiction;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause seller of any such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling HolderRegistration Statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event as a result of which, Company’s becoming aware that the prospectus included in such registration statementRegistration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances then existing, and, and at the request of any Selling Holdersuch seller, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to an amended or an amendment of such supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances then existing;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xif) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holdersits security holders, as promptly soon as practicable, an earnings statement covering the period of at least 12 months, reasonably practicable (but not more than 18 months, beginning with the first day of the Company’s first full quarter ) after the effective date of such registration statementthe Registration Statement, an earning statement which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunderAct;
(xiig) (i) if such Registrable Securities are Common Stock (including Common Stock issuable upon conversion, exchange or exercise of another security), use its best efforts to list such Registrable Securities on any securities exchange or authorize for quotation on each other market on which the Common Stock is then listed or authorized for quotation if such Registrable Securities are not already so listed or authorized for quotation; and (ii) use its best efforts to provide a transfer agent and registrar for such Registrable Securities covered by such Registration Statement not later than the effective date of such Registration Statement;
(h) enter into such customary agreements (including an underwriting agreement in customary form), which shall include indemnification provisions in favor of underwriters and other Persons (in addition to the provisions of Section 3.4 hereof) covering the entirety of the Registration Statement, excluding any information supplied to the underwriters by the Holders selling Registrable Securities in such offering, and take such other actions as the Principal Participating Holders or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities;
(i) obtain a “comfort” letter or letters from the Company’s independent public accountants in customary form and covering matters of the type customarily covered by “comfort” letters, as the Principal Participating Holders shall reasonably request;
(j) make available for inspection by any seller of such Registrable Securities covered by such Registration Statement, by any managing underwriter or underwriters participating in any disposition to be effected pursuant to such Registration Statement and by any attorney, accountant or other agent retained by any such seller or any such managing underwriter(s), all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such Registration Statement (subject to each party referred to in this clause (j) entering into customary confidentiality agreements in a form reasonably acceptable to the Company);
(k) notify counsel (selected pursuant to Section 3.3.3 hereof) for the Holders of Registrable Securities included in such Registration Statement and the managing underwriter or agent, immediately, and confirm the notice in writing (i) when the Registration Statement, or any post-effective amendment to the Registration Statement, shall have become effective, or any supplement to the prospectus or any amendment to the prospectus shall have been filed, (ii) of the receipt of any comments from the Commission, (iii) of any request of the Commission to amend the Registration Statement or amend or supplement the prospectus or for additional information, and (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any order preventing or suspending the use of any preliminary prospectus, or of the suspension of the qualification of the Registration Statement for offering or sale in any jurisdiction, or of the institution or threatening of any proceedings for any of such purposes;
(l) use its best efforts to prevent the issuance of any stop order suspending the effectiveness of the Registration Statement or of any order preventing or suspending the use of any preliminary prospectus and, if any such order is issued, to obtain the withdrawal of any such order as soon as practicable;
(m) if requested by the managing underwriter or agent or any Holder of Registrable Securities covered by the Registration Statement, incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or agent or such Holder reasonably requests to be included therein, including the number of Registrable Securities being sold by such Holder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent, and any other terms of the underwritten offering of the Registrable Securities to be sold in such offering; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or post-effective amendment;
(n) cooperate with the sellers Holders of Registrable Securities covered by the Registration Statement and the managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, legends) representing securities to be sold under any registration statementthe Registration Statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or agent, if any, or such sellers Holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriaterequest;
(xiiio) have appropriate officers obtain for delivery to the Holders of Registrable Securities being registered and to the underwriter or agent an opinion or opinions from counsel for the Company prepare in customary form and make presentations at any “road shows” in form, substance and before analysts scope reasonably satisfactory to such Holders, underwriters or agents and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securitiestheir counsel;
(xivp) if requested by any Selling Holders cooperate with each seller of Registrable Securities and each underwriter or any underwriter, promptly incorporate agent participating in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, disposition of such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate Securities and assist their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xviq) otherwise use commercially reasonable its best efforts to comply with all applicable rules and regulations make available the executive officers of the Commission and all reporting requirements under Company to participate with the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering Holders of Registrable Securities is to and any underwriters in any “road show” presentations or investor telephone conference calls that may be made reasonably requested by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock Holders in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership distribution of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect theretoSecurities.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights and Coordination Agreement, Registration Rights and Coordination Agreement (West Corp)
Registration Procedures. (a) If and whenever In connection with the registration obligations of the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 3 and 3.24, the Company shall as promptly as practicable (in each case, to the extent applicable):shall:
(ia) prepare and file with the Commission SEC a registration statement Registration Statement with respect to effect such registrationRegistrable Securities on any form for which the Company then qualifies or which counsel for the Company shall deem appropriate, cause such registration statement to become effective at and which form shall be available for the earliest possible date permitted under the rules and regulations sale of the CommissionRegistrable Securities in accordance with the intended methods of distribution thereof, and thereafter use commercially reasonable best efforts to cause such registration statement Registration Statement to become and remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnesseffective;
(iib) prepare and file with the Commission such SEC amendments (including and post-effective amendments) amendments to such Registration Statement and such amendments and supplements to such registration statement and the prospectus Prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to maintain the effectiveness of such registration or as may be required by the rules, regulations or instructions applicable to the registration form utilized by the Company or by the Securities Act or rules and regulations thereunder necessary to keep such registration statement Registration Statement effective (i) in the case of an Underwritten Offering, until each underwriter has completed the distribution of all securities purchased by it, and (ii) in the case of any other registration, until the Registrable Securities covered thereby cease to be Registrable Securities, and cause the Prospectus as so amended and supplemented to be filed pursuant to Rule 424 under the Securities Act, and otherwise use reasonable best efforts to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement Registration Statement until the earlier of such time as all of such securities have been disposed of is specified in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or clause (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in above, as the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectivemay be;
(iiic) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder Registrable Securities such number of conformed copies of such registration statement Registration Statement and of each amendment and post-effective amendment thereto, any Prospectus or Prospectus supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerHolder (the Company hereby consenting to the use (subject to the limitations set forth in Section 8(b)) of the Prospectus or any amendment or supplement thereto in connection with such disposition);
(ivd) use commercially reasonable best efforts to register or qualify such Registrable Securities covered by such registration statement Registration Statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling each Holder shall reasonably request, and take to do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not be required for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not where, but for the requirements of this clause (iv) Section 7(d), it would not be obligated to be so qualified, to subject itself to taxation in any such jurisdiction jurisdiction, or to file a general consent to general service of process in any such jurisdiction;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on notify each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause Holder of any such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling HolderRegistration Statement, at any time when a prospectus Prospectus relating thereto is required to be delivered under the Securities ActAct within the applicable period referred to in Section 7(b), upon discovery that, or upon that the happening of any event as a result of which, Company has become aware that the prospectus Prospectus included in such registration statementRegistration Statement, as then in effect, includes an untrue statement of a the material fact or omits to state any a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing (the period during which the Holders are required in such case pursuant to Section 8(b) to refrain from effecting public sales or distributions of Registrable Securities being referred to as a "Section 7(e) Period"), and, at the request of any Selling Holder, promptly and prepare and furnish to such seller Holder, as soon as reasonably practicable, a reasonable number of copies of a an amendment to such Registration Statement or supplement to or an amendment of such prospectus related Prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus Prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing;
(xf) make every reasonable effort notify each Holder of Registrable Securities covered by such Registration Statement at any time,
(i) when the Prospectus or any Prospectus supplement or post-effective amendment has been filed and, with respect to obtain the withdrawal Registration Statement or any post-effective amendment, when the Registration Statement or such post- effective amendment has become effective;
(ii) of the issuance by the SEC of any stop order of which the Company is aware suspending the effectiveness of the Registration Statement or any order preventing the use of a related Prospectus, or the initiation of any proceedings for such registration statementpurposes; and
(iii) of the receipt of the Company of any written notification of the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose;
(xig) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, its stockholders an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Act, provided that the Company shall be deemed to have complied with this Section 7(g) if it has complied with Rule 158 thereunderunder the Securities Act;
(xiih) use reasonable best efforts (i) to cause all Conversion Shares and Warrant Shares covered by such Registration Statement to be listed on any securities exchange or automated quotation system on which the Common Stock is then listed, if such Conversion Shares and Warrant Shares are not already so listed and if such listing is then permitted under the rules of such exchange or automated quotation system, (ii) to provide a transfer agent and registrar for Registrable Securities covered by such Registration Statement no later than the effective date of such Registration Statement and (iii) prepare and file with the SEC, within the time period specified by Section 12(g) of the Exchange Act, a Registration Statement on Form 8-A registering the Preferred Shares and the Warrants if such filing is required pursuant to Section 12(g) of the Exchange Act;
(i) if the registration involves an Underwritten Offering, enter into a customary underwriting agreement and in connection therewith:
(i) make such representations and warranties to the underwriters in form, substance and scope as are customarily made by issuers to underwriters in comparable Underwritten Offerings;
(ii) use reasonable best efforts to obtain opinions of counsel to the Company (in form, scope and substance reasonably satisfactory to the managing underwriters), addressed to the underwriters, and covering the matters customarily covered in opinions requested in comparable Underwritten Offerings;
(iii) use reasonable best efforts to obtain "cold comfort" letters and bring-downs thereof from the Company's independent certified public accountants addressed to the underwriters, such letters to be in customary form and covering matters of the type customarily covered in "cold comfort" letters by independent accountants in connection with Underwritten Offerings; and
(iv) deliver such documents and certificates as may be reasonably requested by the managing underwriters to evidence compliance with any customary conditions contained in the underwriting agreement;
(j) cooperate with the sellers Holders of Registrable Securities covered by such Registration Statement and the managing underwriter or underwriters or agents, if any, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, legends) representing the securities to be sold under any registration statementsuch Registration Statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or underwriters or agents, if any, or such sellers Holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriaterequest;
(xiiik) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as if reasonably requested by the Selling Holders and the managing underwriter or underwriters or a Holder of Registrable Securities being sold in the offeringconnection with an Underwritten Offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a Prospectus supplement or post-effective amendment if necessary, to the Registration Statement such information as the managing underwriters and the Holders of a majority in number of the Registrable Securities being sold agree should be included therein relating to the plan of distribution with respect to such Selling Holders may reasonably request to have included thereinRegistrable Securities, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings the principal amount of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unlessto such underwriters, in the Company’s sole discretion, purchase price being paid therefor by such Registrable Securities are to be issued in uncertificated form pursuant to underwriters and any other terms of the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar Underwritten Offering of the Registrable Securities to release any stop transfer order with respect thereto.be sold in such offering and make all required filings of such Prospectus supplement or post-effective amendment as promptly as practicable upon being notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment;
(cl) Each Selling if reasonably requested by the managing underwriter or underwriters or a Holder agrees that upon receipt of any notice from Registrable Securities being sold in an Underwritten Offering, cause appropriate representatives of the Company of to participate in any "road shows" or similar marketing activities;
(m) in the happening of any event of the kind described in Section 3.6(a)(ix)issuance of any stop order of which the Company is aware suspending the effectiveness of the Registration Statement, such Selling Holder shall forthwith discontinue such Selling Holder’s disposition or of any order suspending or preventing the use of any related Prospectus or suspending the qualification of any Registrable Securities pursuant included in the Registration Statement for sale in any jurisdiction, use reasonable best efforts promptly to obtain the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt withdrawal of such notice relating to such Registrable Securities. In stop order or other order, and the event period for which the Company Registration Statement shall give such notice, any applicable 60-day period during which such registration statement must remain be kept effective pursuant to this Agreement shall be extended by a number of days equal to the number of days during between the period from issuance and withdrawal of any stop order or other order (a "Section 7(l) Period"); and
(n) disclose in each Registration Statement that, pursuant to Rule 416 under the date of giving of a notice regarding Securities Act, such Registration Statement shall register the happening offering of an event indeterminate number of shares of Common Stock which may become issuable pursuant to the antidilution provisions of the kind described in Section 3.6(a)(ix) to Preferred Shares and the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the CommissionWarrants.
Appears in 2 contracts
Samples: Registration Rights Agreement (Itc Deltacom Inc), Registration Rights Agreement (Itc Deltacom Inc)
Registration Procedures. (a) If and whenever the Company is required by the provisions of Section 2 or 3 to use commercially its reasonable efforts to effect the registration of any Registrable Securities of its securities under the Securities Act as provided in Sections 3.1 and 3.2Act, the Company shall will, as promptly expeditiously as practicable (in each case, to the extent applicable):is reasonably possible:
(ia) prepare and file with the Commission SEC a registration statement Registration Statement with respect to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules securities and regulations of the Commission, and thereafter use commercially its reasonable efforts to cause such registration statement Registration Statement promptly to become and remain effective pursuant for a period of time required for the disposition of such Securities by the holders thereof but not to the terms of this Agreementexceed 60 days (except with respect to a Shelf Registration Statement which shall remain effective as set forth in Section 2(c)); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments theretothereto (for purposes of this subsection, amendments shall not be deemed to include any filing that the Company is required to make pursuant to the Exchange Act), the Company will shall furnish the Selling Holders and the representatives referred to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”Section 5(n) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel. The Company shall not be deemed to have used its reasonable efforts to keep a Registration Statement effective during the applicable period if it voluntarily takes any action that would result in the Holders of such Registrable Securities not being able to sell such Registrable Securities during that period, and unless such review to be conducted with reasonable promptnessaction is required under applicable law;
(iib) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement Registration Statement (or additional Registration Statements as provided in Section 2(c)) and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement Registration Statement effective and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all securities covered by such registration statement Registration Statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller a public offering or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after (except with respect to the Shelf Registration Statement, for which such registration statement becomes effective, or (ii) period is set forth in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective2(c));
(iiic) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of the applicable Registration Statement and each such registration statement and of each amendment and supplement thereto (including in each case including all exhibits), such number and of copies of the a summary prospectus contained in such registration statement (or other prospectus, including each a preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and such number of copies of any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, Holders may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerrequest;
(ivd) use commercially its reasonable efforts to register or qualify such Registrable Securities the securities covered by such registration statement Registration Statement under such other securities laws or blue sky laws of such jurisdictions within the United States and Puerto Rico as any Selling Holder and any or underwriter of the such securities being sold by such Selling Holder shall reasonably requestrequest (in light of the intended plan of distribution of such securities), to keep such registration or qualification in effect for so long as such Registration Statement remains in effect or until all Registrable Securities have been sold (whichever is earlier), and to take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling HolderHolder (provided, except however, that the Company shall not for any such purpose be required in connection therewith or as a condition thereto to qualify generally to do business as business, subject itself to taxation in or to file a foreign corporation general consent to service of process in any jurisdiction wherein it would not but for the requirements of this clause paragraph (ivd) be obligated to do so; and provided, further, that the Company shall not be so qualified, required to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause qualify such Registrable Securities to be listed on each in any jurisdiction in which the securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such regulatory authority requires that any Selling Holder submit any shares of its Registrable Securities to be listed on the New York Stock Exchange terms, provisions and restrictions of any escrow, lockup or the Nasdaq Stock Market;
(visimilar agreement(s) use commercially reasonable efforts for consent to cause such sell Registrable Securities covered by in such registration statement jurisdiction unless such Holder agrees to be registered with or approved by do so), and do such other governmental agencies or authorities reasonable acts and things as may be necessary required of it to enable the Selling Holder(s) thereof such Holder to consummate the disposition in such jurisdiction of the securities covered by such Registrable SecuritiesRegistration Statement;
(viie) in connection with an Underwritten Offeringunderwritten offering, obtain for each Selling Holder and underwriter:
(1i) an opinion of independent legal counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2ii) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(f) use its reasonable efforts to furnish, at the request of any Holder requesting registration of Registrable Securities pursuant to Section 2 or 3, if such Registrable Securities are not being sold through underwriters, on the date that the registration statement with respect to such shares of Registrable Securities becomes effective, (1) an opinion, dated such date, of the independent legal counsel for the Company for the purpose of such registration, addressed as to such matters as the Holders holding a majority of the Registrable Securities included in such registration may reasonably request; and (2) letters dated such date and the date the offering is priced from the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement), addressed to the Holders making such request and, if such accountants refuse to deliver such letters to such Holders, then to the Company (i) stating that they are independent certified public accountants within the meaning of the Securities Act and that, in the opinion of such accountants, the financial statements and other financial data of the Company included in the Registration Statement or the prospectus, or any amendment or supplement thereto, comply as to form in all material respects with the applicable accounting requirements of the Securities Act and (ii) covering such other financial matters (including information as to the period ending not more than five (5) Business Days prior to the date of such letters) with respect to the registration in respect of which such letter is being given as such Holders may reasonably request;
(g) enter into customary agreements (including if the method of distribution is by means of an underwriting, an underwriting agreement in customary form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities;
(h) otherwise use its reasonable efforts to comply with all applicable rules and regulations of the SEC, and make earnings statements satisfying the provisions of Section 11(a) of the Securities Act generally available to the Holders no later than 45 days after the end of any twelve-month period (or 90 days, if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in an underwritten public offering, or (ii) if not sold to underwriters in such an offering, beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Registration Statement, which statements shall cover said twelve-month periods;
(i) use its reasonable efforts to cause all such Registrable Securities to be listed on each securities exchange or quotation system on which similar securities issued by the Company are listed or traded;
(j) give written notice to the Holders:
(i) when such Registration Statement or any amendment thereto has been filed with the SEC and when such Registration Statement or any post-effective amendment thereto has become effective;
(ii) of any request by the SEC for amendments or supplements to such Registration Statement or the prospectus included therein or for additional information;
(iii) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or the initiation of any proceedings for that purpose;
(iv) of the receipt by the Company or its legal counsel of any notification with respect to the suspension of the qualification of the Equity Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and
(v) of the happening of any event that requires the Company to make changes in such Registration Statement or the prospectus in order to make the statements therein not misleading (which notice shall be accompanied by an instruction to suspend the use of the prospectus until the requisite changes have been made);
(k) use its reasonable efforts to prevent the issuance or obtain the withdrawal of any order suspending the effectiveness of such Registration Statement at the earliest possible time;
(l) furnish to each Holder, without charge, at least one copy of such Registration Statement and any post-effective amendment thereto, including financial statements and schedules, and, if the Holder so requests in writing, all exhibits (including those, if any, incorporated by reference);
(m) upon the occurrence of any event contemplated by Section 5(j)(v) above, promptly prepare a post-effective amendment to such Registration Statement or a supplement to the related prospectus or file any other required document so that, as thereafter delivered to the Holders, the prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. If the Company notifies the Holders in accordance with Section 5(j)(v) above to suspend the use of the prospectus until the requisite changes to the prospectus have been made, then the Holders shall suspend use of such prospectus and use their reasonable efforts to return to the Company all copies of such prospectus (at the Company’s expense) other than permanent file copies then in such Holder’s possession, and the period of effectiveness of such Registration Statement provided for above shall be extended by the number of days from and including the date of the giving of such notice to the date Holders shall have received such amended or supplemented prospectus pursuant to this Section 5(m);
(n) subject to the execution of customary confidentiality agreements satisfactory in form and substance to the Company, pursuant to the reasonable request of the Selling Holders or applicable underwriters, make reasonably available for inspection by any sellerSelling Holders, any underwriter participating in any disposition pursuant to any registration statement, such Registration Statement and any attorney, accountant or other agent or representative retained by the Selling Holders or any representative of the Selling Holders or any such seller or underwriter (collectively, the “Inspectors”), all relevant financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all relevant information reasonably requested by such representative or any such Inspector underwriter, attorney, accountant or agent in connection with the registration; provided that any such registration statement; provided, however, that, unless inspection shall be done in a manner so as not to disrupt the disclosure operation of such Records is necessary to avoid or correct a misstatement or omission the Company’s business.
(o) in the registration statement or the release of such Records is ordered connection with any underwritten offering pursuant to a subpoena which Registrable Securities are offered by Holders in accordance with Section 2 or other order from a court 3 hereof, make appropriate officers of competent jurisdictionthe Company available to the Selling Holders (and, in connection with any underwritten offering, the Company shall not be required underwriters) for diligence and for meetings with prospective purchasers of the Registrable Securities and prepare and present to provide any information under this subparagraph (viii) if (i) potential investors customary “road show” material in each case in accordance with the Company believes, after consultation recommendations of the underwriters and in all respects in a manner consistent with counsel for the Company, that to do so would cause the Company to forfeit other new issuances of securities in an attorney-client privilege that was applicable offering of a similar size to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure offering of the Records deemed confidential;
(viii) promptly notify Registrable Securities, in writing each Selling Holder and the underwriters, if any, connection with any proposed sale of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statementRegistrable Securities; and
(5p) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations procure the cooperation of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior in settling any offering or sale of Registrable Securities, including with respect to the effectiveness transfer of such registration statement a supply of such physical stock certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at into book-entry form in accordance with any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as procedures reasonably requested by the Selling Holders and or the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to underwriters. It shall be a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating condition precedent to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements obligation of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with take any offering of Registrable Securities registered action pursuant to this Agreement, Agreement in respect of the Company Registerable Securities which are to be registered at the request of any Holder that such Holder shall furnish to the underwriter, if any (or, if no underwriter, the sellers of Company such Registrable Securities), unlegended certificates representing ownership of information regarding the Registrable Securities being sold (unless, in held by such Holder and the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations intended method of disposition thereof as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of shall reasonably request and as shall be required in connection with the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed action taken by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Subscription Agreement (Azure Power Global LTD), Subscription Agreement (Azure Power Global LTD)
Registration Procedures. (a) If and whenever the The Company is required to will use all commercially reasonable efforts to effect the registration Shelf Registration and Required Registration pursuant to Section 3.1 and each Incidental Registration pursuant to Section 3.2, and to cooperate with the sale of any such Registrable Securities under in accordance with the Securities Act intended method of disposition thereof as provided in Sections 3.1 quickly as reasonably practicable, and 3.2, the Company shall will as promptly expeditiously as practicable reasonably practicable:
(a) subject, in each casethe case of an Incidental Registration, to the extent applicable):
(i) proviso to Section 3.2(a), prepare and file with the Commission a SEC the registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use all commercially reasonable efforts to cause such registration statement the Registration to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessbecome effective;
(iib) subject, in the case of an Incidental Registration, to the proviso to Section 3.2(a), prepare and file with the Commission SEC such amendments (including and post-effective amendments) and supplements amendments to such any registration statement and the any prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier of such time as all of such securities Registrable Securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in and cause the case of a Demand Registration prospectus to be supplemented by any required prospectus supplement, and as so supplemented to be filed pursuant to Section 3.1, Rule 424 under the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveSecurities Act;
(iiic) furnish furnish, upon request, to each Selling Holder holder of Registrable Securities to be included in such Registration and each underwriterthe underwriter or underwriters, if anywithout charge, at least one copy of the securities being sold by such Selling Holder signed registration statement and any post-effective amendment thereto, and such number of conformed copies of such registration statement thereof and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other each prospectus filed under Rule 424 under the Securities Act), in conformity with the requirements of the Securities Act, any amendments or supplements thereto and any Issuer Free Writing Prospectus and such other documents incorporated by reference therein, as such Selling Holder and underwriter, if any, holder or underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned being sold by such seller;
holder (iv) it being understood that the Company consents to the use commercially reasonable efforts to register of the prospectus and any amendment or qualify such supplement thereto by each holder of Registrable Securities covered by such registration statement under such other securities laws and the underwriter or blue sky laws of such jurisdictions as any Selling Holder underwriters, in connection with the offering and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions sale of the Registrable Securities owned covered by such Selling Holder, except that the Company shall not for prospectus or any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction amendment or to file a general consent to service of process in any such jurisdictionsupplement thereto);
(vd) use commercially reasonable efforts to cause such notify each holder of the Registrable Securities to be listed on each securities exchange on which similar securities issued by included in such Registration and the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange underwriter or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriterunderwriters:
(1i) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy stop order or other order suspending the conditions for receipt effectiveness of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant issued or other agent or representative retained threatened by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibilitySEC in connection therewith, and cause take all commercially reasonable actions required to prevent the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure entry of such Records is necessary stop order or to avoid remove it or correct a misstatement or omission in obtain withdrawal of it at the earliest possible moment if entered;
(ii) when such registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdictionany prospectus used in connection therewith, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus amendment or supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement has been filed and, with respect to the such registration statement or any post-effective amendment thereto, when the same has become effective;
(2iii) of any written request by the Commission SEC for amendments or supplements to the such registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statementprospectus; and
(5iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purposejurisdiction;
(ixe) notify each Selling Holderif requested by the managing underwriter or underwriters, at any time when promptly incorporate in a prospectus supplement or post-effective amendment such information relating thereto to such underwriting as the managing underwriter or underwriters reasonably request to be included therein; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or post-effective amendment; provided, however, that the Company shall not be required to take any action pursuant to this Section 3.3(e) that would, in the opinion of counsel to the Company, violate applicable Law;
(f) on or prior to the date on which a Registration is declared effective, use all commercially reasonable efforts to register or qualify, and cooperate with the holders of Registrable Securities to be included in such Registration, the underwriter or underwriters, if any, and their counsel, in connection with the registration or qualification of the Registrable Securities covered by such Registration for offer and sale under the securities or “blue sky” laws of each state and other jurisdiction of the United States as any such holder or underwriter reasonably requests in writing; use all commercially reasonable efforts to keep each such registration or qualification effective, including through new filings, or amendments or renewals, during the period such registration statement is required to be delivered under kept effective; and do any and all other acts or things reasonably necessary or advisable to enable the disposition of the Registrable Securities Actin all such jurisdictions reasonably requested to be covered by such Registration; provided, upon discovery thathowever, that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or upon to take any action which would subject it to general service of process in any such jurisdiction where it is not then so subject;
(g) in connection with any sale pursuant to a Registration, cooperate with the happening holders of any event as a result of which, the prospectus Registrable Securities to be included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers Registration and the managing underwriter or underwriters, to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law)including, if necessary or appropriatewithout limitation, those set forth in Section 2.1) representing securities to be sold under any registration statementsuch Registration, and enable such securities to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or such sellers holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriaterequest;
(xiiih) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use all commercially reasonable efforts to cause the Registrable Securities to be registered with or approved by such other governmental agencies or authorities within the United States and having jurisdiction over the Company or any Subsidiary as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, as applicable, to consummate the disposition of such securities;
(i) use all commercially reasonable efforts to obtain such legal opinions and auditors’ consents as may be required by applicable Law;
(j) otherwise comply with all applicable rules and regulations of the Commission SEC, and all reporting requirements make generally available to its security holders (as contemplated by Section 11(a) under the rules and regulations Securities Act) an earnings statement satisfying the provisions of Rule 158 under the Securities Act no later than ninety (90) days after the end of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
twelve (b12) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent month period beginning with the covenants and agreements first month of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to first fiscal quarter commencing after the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar effective date of the Registrable Securities to release any stop transfer order with respect thereto.registration statement, which statement shall cover said twelve (12) month period; and
(ck) Each Selling Holder agrees that upon receipt of any notice from use all commercially reasonable efforts to cause its senior executive officers to participate in “road shows” at the Company request of the happening of any event of the kind described underwriters in Section 3.6(a)(ix)connection with a Required Registration; provided, that such Selling Holder senior executive officers shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant not be required to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ixparticipate in “road shows” for more than two (2) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the CommissionRequired Registrations.
Appears in 2 contracts
Samples: Stockholders Agreement (Mobile Mini Inc), Merger Agreement (Mobile Mini Inc)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable its best efforts to effect the registration of the offer and sale of any Registrable Securities under the Securities Act as provided in Sections 3.1 1.1, 1.2 and 3.22, the Company shall as promptly as practicable (in each case, to the extent applicable):will promptly:
(ia) prepare prepare, and as soon as practicable, but in any event within 60 days thereafter, file with the Commission Commission, a registration statement with respect to effect the offer and sale of such registrationRegistrable Securities, make all required filings with the NASD or applicable securities exchange and use its best efforts to cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptnessas soon as practicable;
(iib) prepare and promptly file with the Commission such amendments (including and post-effective amendments) amendments and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and for so long as is required to comply with the provisions of the Securities Act with respect and to complete the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended method or methods of disposition by the seller or sellers thereof set forth thereof, but in such registration statement or (i) in the case no event for a period of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days more than six months after such registration statement becomes effective;
(iiic) furnish copies of all documents proposed to be filed with the Commission in connection with such registration to (i) (x) counsel selected by the THL Parties in the case of a registration pursuant to Section 1.1, (y) counsel selected by RLB in the case of registration pursuant to Section 1.2 and (z) in all other circumstances, counsel selected by the THL Parties and, if different, counsel selected by the holders of a majority of the Registrable Securities to be sold in such registration, and, in each case, which counsel may also be counsel to the Company and (ii) each seller of Registrable Securities (or in the case of the initial filing of a registration statement, within five business days of such initial filing) and such documents shall be subject to the review of any such counsel referred to in clause (i) above. The Company shall not file any registration statement or any amendment or post-effective amendment or supplement to such registration statement or the prospectus used in connection therewith to which such counsel shall have reasonably objected in writing on the grounds that such amendment or supplement does not comply (explaining why) in all material respects with the requirements of the Securities Act or of the rules or regulations thereunder;
(d) furnish to each Selling Holder and each underwriterseller of Registrable Securities, if anywithout charge, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), exhibits and documents filed therewith) and such number of copies of the prospectus contained included in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder and underwriter, if any, seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerseller in accordance with the intended method or methods of disposition thereof;
(ive) use commercially reasonable its best efforts to register or qualify such Registrable Securities covered by such registration statement under such other the securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder each seller shall reasonably request, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition of such Registrable Securities in such jurisdictions in accordance with the intended method or methods of the Registrable Securities owned by such Selling Holderdisposition thereof, except provided that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would is not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction wherein it is not so subject, or take any action which would subject it to file a general consent to service of process in any such jurisdictionjurisdiction wherein it is not so subject;
(vf) use commercially reasonable its best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies agencies, authorities or authorities self-regulatory bodies as may be necessary by virtue of the business and operations of the Company to enable the Selling Holder(s) seller or sellers thereof to consummate the disposition of such Registrable SecuritiesSecurities in accordance with the intended method or methods of disposition thereof;
(viig) furnish to the THL Parties, on behalf of the THL Group, and to RLB, if requested by him in connection with an Underwritten Offering, obtain for each Selling Holder and underwritera registration pursuant to Section 1.2:
(1i) an opinion of counsel for the CompanyCompany experienced in securities law matters, covering dated the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in effective date of the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessarysuch registration includes an underwritten public offering, any other independent registered public accountant of any subsidiary the date of the Company or any business acquired closing under the underwriting agreement); and
(ii) a "comfort" letter (unless the registration is pursuant to Section 2 and such a letter is not otherwise being furnished to the Company), dated the effective date of such registration statement (and if such registration includes an underwritten public offering, dated the date of the closing under the underwriting agreement), signed by the Company from which independent public accountants who have issued an audit report on the Company's financial statements and financial data are, or are required to be, included in the registration statement), covering such matters as are customarily covered in opinions of issuer's counsel and in accountants' letters delivered to the underwriters in underwritten public offerings of securities and such other matters as the THL Parties or RLB, as applicable, may reasonably request;
(3h) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such notify each seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for covered by such purpose;
(ix) notify each Selling Holder, registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Act of the happening of any event or existence of any fact as a result of which, which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances then existing, and, at the request of any Selling Holderas promptly as is practicable, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in light of the circumstances then existing;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xii) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement of the Company (in form complying with the provisions of Rule 158 under the Securities Act) covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter month after the effective date of such registration statement;
(j) notify each seller of any Registrable Securities covered by such registration statement (i) when the prospectus or any prospectus supplement or post-effective amendment has been filed, which earnings and, with respect to such registration statement shall satisfy or any post-effective amendment, when the provisions same has become effective, (ii) of Section 11(aany request by the Commission for amendments or supplements to such registration statement or to amend or to supplement such prospectus or for additional information, (iii) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with issuance by the sellers and the managing underwriter to facilitate the timely preparation and delivery Commission of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to stop order suspending the effectiveness of such registration statement a supply or the initiation of any proceedings for that purpose and (iv) of the suspension of the qualification of such certificates as necessary securities for offering or appropriatesale in any jurisdiction, or of the institution of any proceedings for any of such purposes;
(xiiik) have appropriate officers use every reasonable effort to obtain the lifting of any stop order that might be issued suspending the effectiveness of such registration statement at the earliest possible moment;
(l) use its best efforts (i) (A) to list such Registrable Securities on any securities exchange on which the equity securities of the Company prepare and make presentations are then listed or, if no such equity securities are then listed, on an exchange selected by the Company, if such listing is then permitted under the rules of such exchange, or (B) if such listing is not practicable, to secure designation of such securities as a NASDAQ "national market system security" within the meaning of Rule 11Aa2-1 under the Exchange Act or, failing that, to secure NASDAQ authorization for such Registrable Securities, and, without limiting the foregoing, to arrange for at any “road shows” and before analysts and rating agencies, least two market makers to register as such with respect to such Registrable Securities with the case may beNASD, and otherwise use its reasonable best efforts (ii) to cooperate as reasonably provide a transfer agent and registrar for such Registrable Securities not later than the effective date of such registration statement and to instruct such transfer agent (A) to release any stop transfer order with respect to the certificates with respect to the Registrable Securities being sold and (B) to furnish certificates without restrictive legends representing ownership of the shares being sold, in such denominations requested by the Selling Holders and the underwriters in the offering, marketing or selling sellers of the Registrable SecuritiesSecurities or the lead underwriter;
(xivm) if requested by any Selling Holders enter into such agreements and take such other actions as the sellers of Registrable Securities or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may underwriters reasonably request in order to have included thereinexpedite or facilitate the disposition of such Registrable Securities, including, without limitation, information relating preparing for, and participating in, such number of "road shows" and all such other customary selling efforts as the underwriters reasonably request in order to the “Plan of Distribution” of the Registrable Securitiesexpedite or facilitate such disposition;
(xvn) cooperate furnish to any holder of such Registrable Securities such information and assist assistance as such holder may reasonably request in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any "due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRAdiligence" effort which such seller deems appropriate; and
(xvio) otherwise use commercially reasonable its best efforts to comply with take all applicable rules and regulations other steps necessary to effect the registration of such Registrable Securities contemplated hereby. As a condition to its registration of the Commission offer and all reporting requirements under sale of Registrable Securities of any prospective seller, the rules and regulations of the Exchange Act. The Company may require each Selling Holder such seller of any Registrable Securities as to which any registration is being effected to execute powers-of-attorney, custody arrangements and each underwriter, if any, other customary agreements appropriate to facilitate the offering and to furnish to the Company in writing such information regarding each Selling Holder or underwriter such seller, its ownership of Registrable Securities and the distribution disposition of such Registrable Securities as the Company may from time to time reasonably request in writing and as shall be required by law in connection therewith. Each such holder agrees to complete or amend furnish promptly to the Company all information required to be disclosed in order to make the information required previously furnished to the Company by such holder not materially misleading. The Company agrees not to file or make any amendment to any registration statement.
statement with respect to any Registrable Securities, or any amendment of or supplement to the prospectus used in connection therewith, which refers to (bin a capacity as a selling stockholder) Without limiting any seller of any Registrable Securities covered thereby by name, or otherwise identifies such seller as the foregoingholder of any Registrable Securities, in to which counsel to the event that sellers may reasonably object, without the offering prior written consent of such seller, which consent shall not be unreasonably withheld. Each holder of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix3(h), such Selling Holder shall forthwith holder will promptly discontinue such Selling Holder’s holder's disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto covering such Registrable Securities until such Selling Holder’s holder's receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if 3(h). If so directed by the Company, each holder of Registrable Securities will deliver to the Company, Company (at the Company’s 's expense, ) all copies, other than permanent file copies, then in such Selling Holder’s holder's possession of the prospectus current covering such Registrable Securities at the time of receipt of such notice relating to such Registrable Securitiesnotice. In the event that the Company shall give any such notice, any applicable 60-day the period during which such registration statement must remain effective pursuant to this Agreement mentioned in Section 3(a) shall be extended by the number of days during the period from and including the date of the giving of a such notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to and including the date when all each seller of any Registrable Securities covered by such Selling Holders registration statement shall receive such a have received the copies of the supplemented or amended prospectus and such prospectus shall have been filed with the Commissioncontemplated by Section 3(h).
Appears in 2 contracts
Samples: Registration Rights Agreement (NTK Holdings, Inc.), Securityholders Agreement (NTK Holdings, Inc.)
Registration Procedures. (a) If and whenever Whenever a Holder requests that any Registrable Securities be registered pursuant to Section 2.1, 2.2 or 2.3, subject to the provisions of such Sections, the Company is required to shall use commercially its reasonable efforts to effect the registration and the sale of any such Registrable Securities under in accordance with the Securities Act intended method of disposition thereof as provided soon as reasonably practicable, and, in Sections 3.1 and 3.2, the connection with any such request:
(a) The Company shall as promptly soon as reasonably practicable (in each case, to the extent applicable):
(i) prepare and file with the Commission SEC a registration statement to effect such registration, cause such registration statement to become effective at Registration Statement on any form for which the earliest possible date permitted under Company then qualifies or that counsel for the rules Company deems appropriate and regulations which form shall be available for the sale of the CommissionRegistrable Securities to be registered thereunder in accordance with the intended method of distribution thereof, and thereafter use commercially its reasonable efforts to cause such registration statement filed Registration Statement to become and remain effective pursuant to the terms for a period of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand not less than four months (or, if sooner, until all Registrable Securities have been sold under such Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, Statement) or (ii) in the case of a Piggyback Shelf Registration, until the earlier of the date (x) on which all of the securities covered by such Shelf Registration are no longer Registrable Securities and (y) on which the Company cannot extend the effectiveness of such Shelf Registration because it is no longer eligible to use Form S-3. Subject to Section 2.1(f), the Company shall not be deemed to have used its reasonable efforts to keep the Shelf Registration effective if the Company voluntarily takes any action or omits to take any action that would result in the requesting Holder not being able to offer and sell any Registrable Securities pursuant to Section 3.2such Shelf Registration, unless such action or omission is required by applicable law.
(b) Prior to filing a Registration Statement or related prospectus or any amendment or supplement thereto (including any documents incorporated by reference therein), or before using any Free Writing Prospectus, the expiration of 60 days after such registration statement becomes effective;
(iii) furnish Company shall provide to each Selling Holder the Holders and each underwriter, if any, of an adequate and appropriate opportunity to review and comment on such Registration Statement, each prospectus included therein (and each amendment or supplement thereto) and each Free Writing Prospectus proposed to be filed with the securities being sold by such Selling Holder SEC, and thereafter the Company shall furnish to the Holders and the underwriter, if any, such number of conformed copies of such registration statement and of Registration Statement, each amendment and supplement thereto filed with the SEC (in each case including all exhibitsexhibits thereto and documents incorporated by reference therein), such number of copies of the prospectus contained included in such registration statement Registration Statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 424, Rule 430A, Rule 430B or Rule 430C under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus Act and such other documents as such Selling a Holder and underwriter, if any, or the underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by a Holder; provided, however, that in no event shall the Company be required to provide to any Person any materials, information or documents required to be filed by the Company pursuant to the Exchange Act prior to its filing other than in connection with a Public Offering. In addition, the Company shall, as expeditiously as practicable, keep advised in writing as to the initiation and progress of any registration under Section 2.1, Section 2.2 and Section 2.3 and provide the Holders with copies of all correspondence (including any comment letter) with the SEC, any self-regulatory organization or other governmental agency in connection with any such seller;
(iv) Registration Statement. The Holders shall have the right to request that the Company modify any information contained in such Registration Statement, amendment and supplement thereto pertaining to the Holders, and the Company shall use commercially its reasonable efforts to register or qualify comply with such request.
(c) After the filing of the Registration Statement, the Company shall (i) cause the related prospectus to be supplemented by any required prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act; (ii) comply with the provisions of the Securities Act applicable to the Company with respect to the disposition of all Registrable Securities covered by such registration statement under Registration Statement during the applicable period in accordance with the intended methods of disposition by the Holders thereof set forth in such other Registration Statement or supplement to such prospectus; and (iii) promptly notify the Holders of any stop order issued or threatened by the SEC or any state securities laws or blue sky laws commission with respect thereto and take all reasonable actions required to prevent the entry of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary stop order or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the remove it if entered.
(d) The Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction;
(v) use commercially its reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by (i) register or qualify the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as the Holders reasonably (in light of the Holders’ intended plan of distribution) requests, and continue such registration statement or qualification in effect in such jurisdiction for the shortest of (A) as long as permissible pursuant to the laws of such jurisdiction, (B) as long as the Holders request or (C) until all of the Holders’ Registrable Securities are sold and (ii) cause such Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be reasonably necessary or advisable to enable the Selling Holder(s) thereof Holders to consummate the disposition of such its Registrable Securities;; provided that the Company shall not be required to (x) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 2.5(d), (y) subject itself to taxation in any such jurisdiction or (z) consent to general service of process in any such jurisdiction.
(viie) The Company shall promptly notify each seller of Registrable Securities covered by such Registration Statement and the lead managing underwriter (i) upon the discovery that, or upon the occurrence of an event as a result of which, the preparation of a supplement or amendment to a prospectus is required so that, as thereafter delivered to the purchasers of the relevant Registrable Securities, such prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements in light of the circumstances under which they were made not misleading, and the Company shall promptly prepare and make available to the Holders listed as selling security holders in such prospectus and file with the SEC any such supplement or amendment; (ii) of any request by the SEC for amendments or supplements to a Registration Statement or related prospectus covering Registrable Securities or for additional information relating thereto; (iii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement covering the Registrable Securities; or (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale in any jurisdiction, or the initiation of any proceeding for such purpose.
(f) The Company shall have the right, after consultation with the Holders of a majority of the Registrable Securities initially requested to be included in such Public Offering, to select an underwriter or underwriters in connection with any Public Offering resulting from the exercise of a Demand Registration or a Shelf Registration, such underwriter to be an Underwritten international top-tier firm. In connection with any Public Offering, obtain for each Selling Holder the Company and underwriter:the selling stockholders shall enter into customary agreements (including an underwriting agreement in customary form) and take all other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities in any such Public Offering.
(1g) an opinion Upon execution of counsel for customary confidentiality agreements in form and substance reasonably satisfactory to the CompanyBoard, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly shall make available for inspection by any seller, the selling Holders and any underwriter participating in any disposition pursuant to any registration statement, a Registration Statement being filed by the Company pursuant to this Section 2.5 and any attorney, accountant or other agent or representative professional retained by the selling Holders or any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties documents relating to the business of the Company (collectively, the “Records”), ) as shall be reasonably necessary or desirable to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any such Inspector Inspectors in connection with such registration statementRegistration Statement; providedprovided that the selling Holders shall, howeverand shall use reasonable efforts to cause each such underwriter, thatattorney, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena accountant or other order from a court of competent jurisdiction, professional to minimize the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable disruption to the Company; and provided, further, that ’s business in connection with the foregoing.
(h) The Company shall furnish to each Holder of Registrable Securities agrees that it willincluded in such Registration Statement and to each such underwriter, upon learning that disclosure if any, a signed counterpart, addressed to such Holder or such underwriter, of such Records is sought in a court (i) an opinion or opinions of competent jurisdiction, give notice counsel to the Company and allow (ii) a comfort letter or comfort letters from the Company’s independent public accountants, at its expense, to undertake appropriate action each in customary form and to prevent disclosure covering such matters of the Records deemed confidential;kind customarily covered by opinions or comfort letters, as the case may be, as the Holders or the lead managing underwriter therefor reasonably requests.
(viiii) The Company shall otherwise use reasonable efforts to comply with all applicable rules and regulations of the SEC, and make available to its security holders, as soon as reasonably practicable after the effective date of the Registration Statement, an earnings statement or such other document that shall satisfy the provisions of Section 11(a) of the Securities Act and the requirements of Rule 158 thereunder.
(j) The Company may require the Holders promptly notify to furnish in writing each Selling to the Company such information regarding the distribution of the Registrable Securities as the Company may from time to time reasonably request and such other information as may be reasonably required in connection with a registration.
(k) Each Holder and agrees that upon receipt of any notice from the underwritersCompany of the occurrence of any event of the kind described in Section 2.5(e), such Holder shall forthwith discontinue dispositions of Registrable Securities pursuant to the Registration Statement (including any Shelf Registration) covering such Registrable Securities until such Holder’s receipt of (i) copies of the supplemented or amended prospectus from the Company or (ii) further notice from the Company that distribution can proceed without an amended or supplemented prospectus, and, in the circumstances described in clause (i), if anyso directed by the Company each Holder shall deliver to the Company all copies, other than any permanent file copies then in such Holder’s possession, of the following events:most recent prospectus covering such Registrable Securities at the time of receipt of such notice. If the Company shall give such a notice, the Company shall extend the period during which such registration statement shall be maintained effective (including the period referred to in Section 2.5(a)) by the number of days in the period from and including the date of the giving of notice pursuant to Section 2.5(e) to the date when the Company shall (x) make available to the selling Holders a prospectus supplemented or amended to conform with the requirements of Section 2.5(e) or (y) deliver to each Holder the notice described in clause (ii).
(1l) the filing The Company shall use its reasonable efforts to list all Registrable Securities of any class or series covered by a Registration Statement on any national securities exchange on which any of the registration statementsecurities of such class or series are then listed or traded.
(m) The Company shall use its reasonable efforts to have appropriate officers of the Company (i) upon reasonable request and at reasonable times, prepare and make presentations at any “road shows” and before analysts and rating agencies; (ii) take other actions to obtain ratings for any Registrable Securities; and (iii) otherwise use their reasonable efforts to cooperate as requested by the prospectus underwriters in the offering, marketing or selling of the Registrable Securities.
(n) The Company shall promptly, following its actual knowledge thereof, notify Holders (i) when a prospectus, any prospectus supplement related theretosupplement, any Issuer Free Writing Prospectus a Registration Statement or a post-effective amendment to a Registration Statement has been filed with the registration statement SEC and, with respect to the registration statement a Registration Statement or any post-effective amendment theretoamendment, when the same has become effective;
; (2ii) of any request by the Commission SEC or any other federal or state governmental authority for amendments or supplements to the registration statement or the a Registration Statement, a related prospectus (including a Free Writing Prospectus) or for any other additional information;
; or (3iii) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale under the securities or blue sky laws of in any jurisdiction jurisdiction, or the initiation or threat threatening of any proceeding proceedings for such purpose;.
(ixo) notify The Company shall reasonably cooperate with the Holders and each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under underwriter participating in the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers disposition of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply Securities and their respective counsel in connection with all applicable rules and regulations of the Commission, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“by FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(bp) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the The Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with take all other steps reasonably necessary to effect the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership registration of the Registrable Securities being sold (unless, in and reasonably cooperate with the Company’s sole discretion, such Holders to facilitate the disposition of its Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect theretoSecurities.
(cq) Each Selling Holder agrees that upon receipt The Company shall, within the deadlines specified by the Securities Act, make all required filings of all prospectuses (including any Free Writing Prospectus) with the SEC and make all required filing fee payments in respect of any notice from the Registration Statement or related prospectus used under this Agreement (and any offering covered hereby).
(r) The Company of the happening of any event of the kind described in Section 3.6(a)(ix)shall, if such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities registration is pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented a Registration Statement on Form S-3 or amended prospectus contemplated by Section 3.6(a)(ix) andany similar short-form registration, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then include in such Selling Holder’s possession of Registration Statement such additional information for marketing purposes as the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionmanaging underwriter reasonably requests.
Appears in 2 contracts
Samples: Registration Rights Agreement (WillScot Corp), Stock Purchase Agreement (Double Eagle Acquisition Corp.)
Registration Procedures. (a) If and whenever Whenever McDonald's shall have made a Notice of Demand, the Company is required to shall use commercially all reasonable and diligent efforts to effect the registration and sale of any such Registrable Securities under Shares in accordance with the Securities Act as provided in Sections 3.1 and 3.2intended method or methods of disposition thereof and, pursuant thereto, the Company shall as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) within 30 days of receipt of such Notice of Demand, prepare and file with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, or designate an existing filing as, a Registration Statement with respect to such Registrable Shares and thereafter use commercially its reasonable best efforts to cause such registration statement Registration Statement to remain become effective pursuant to or otherwise make available for use by the terms sellers of this AgreementRegistrable Shares a previously filed effective Registration Statement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further provided that before filing such registration statement or designating a Registration Statement or Prospectus, or filing any amendments amendment thereof or supplement thereto, the Company will shall furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject filed or designated to counsel for the review sellers of such counsel, and such review to be conducted with reasonable promptnessRegistrable Shares;
(iib) prepare and file with the Commission such amendments (including pre- and post-effective amendments) amendments of and supplements to such registration statement Registration Statement and the prospectus Prospectus(es) used in connection therewith and any Exchange Act reports incorporated by reference therein as may be (i) reasonably requested by McDonald's; (ii) reasonably requested by any seller of Registrable Shares (to the extent such request relates to information relating to such seller); or (iii) necessary to keep such registration statement Registration Statement effective for the Registration Period, and to comply with the provisions of the applicable Securities Act Laws with respect to the sale or other disposition of all securities covered by such registration statement until the earlier of Registration Statement during such time as all of such securities have been disposed of period in accordance with the intended method or methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveStatement;
(iiic) furnish to each Selling Holder and each underwriter, if any, the sellers of Registrable Shares or counsel for the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), sellers such number of copies of such Registration Statement, the prospectus contained Prospectus(es) included in such registration statement Registration Statement (including each preliminary prospectus and any summary prospectus) and Prospectus), any other prospectus filed under Rule 424 promulgated under the Securities ActAct relating to the sellers' Registrable Shares, any Issuer Free Writing Prospectuses, and each amendment of and supplement to any of the foregoing, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, any seller may reasonably request in order to facilitate the public sale or other disposition of the its Registrable Securities owned by Shares under such sellerRegistration Statement;
(ivd) use commercially its reasonable and diligent efforts to register or qualify such Registrable Securities covered by such registration statement Shares under such other the securities laws or blue sky laws of such jurisdictions as any Selling Holder seller of Registrable Shares reasonably requests and keep such registration or qualification in effect for so long as any underwriter of the securities being sold by such Selling Holder shall reasonably requestRegistration Statement remains in effect, and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter seller to consummate the disposition in such jurisdictions of the Registrable Securities Shares owned by such Selling Holder, except it; provided that the Company shall not for any such purpose be required to (i) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause subparagraph; (ivii) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction jurisdiction; or to file a general (iii) consent to general service of process in any such jurisdiction;
(ve) use commercially reasonable efforts to cause such notify each seller of Registrable Securities Shares, at any time when a Prospectus relating thereto is required to be listed on each securities exchange on which similar securities issued by delivered under the Company are then listed and, if no applicable Securities Laws (including in circumstances where such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as requirement may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition satisfied pursuant to any registration statement, Rule 172 under the Securities Act) and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statementRegistration Statement (including any document incorporated by reference therein that has not been superseded or modified), of the happening of any event as a result of which the Prospectus included in such Registration Statement contains an untrue statement of a material fact or omits any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and, at the request of any such seller, the Company shall promptly prepare and furnish to each such seller a reasonable number of copies of an amendment of or supplement to such Prospectus or an Issuer Free Writing Prospectus so that, as thereafter delivered to the purchasers of such Registrable Shares, such Prospectus shall not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that upon receipt of any notice delivered in accordance with the provisions of this Section 4(e), each seller of Registrable Shares shall be deemed to have agreed that such seller shall forthwith discontinue such disposition of Registrable Shares pursuant to such Registration Statement and Prospectus until the receipt of the copies of the amended or supplemented Prospectus or Issuer Free Writing Prospectus contemplated by this Section 4(e) and, if so directed by the Company, shall deliver to the Company all copies, other than permanent file copies, then in its possession of the Prospectus relating to such Registrable Shares current at the time of receipt of such notice;
(f) cause all such Registrable Shares to be listed, on or prior to the effective date of such Registration Statement, on each securities exchange or national market on which similar securities issued by the Company are then listed;
(g) provide a transfer agent and registrar for all such Registrable Shares not later than the effective date of such Registration Statement;
(h) enter into such customary agreements (including underwriting agreements) and take all such other customary actions as the underwriters, if any, and their counsel reasonably request in order to expedite or facilitate the disposition of such Registrable Shares (including, but not limited to, effecting a stock split or a combination of shares) and, to the extent reasonably requested by the managing underwriters of any underwritten offering, send appropriate officers of the Company to attend "road shows" scheduled in connection with any such registration;
(i) make available for inspection by any seller of Registrable Shares, any underwriter participating in any sale or other disposition pursuant to such Registration Statement, and any legal counsel, accountant or other agent retained by McDonald's or any underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company's officers, directors, employees and independent registered public accountants (subject to any requesting party executing any document reasonably requested by such accountants to furnish such information) to supply all information reasonably requested by any such seller, underwriter, counsel, accountant or agent in connection with such Registration Statement (including the opportunity to discuss the business of the Company with its officers and the independent registered public accountants who have certified its financial statements) as shall be necessary, in the opinion of their respective counsel, to conduct a reasonable investigation within the meaning of the Securities Act; and give the sellers and their counsel, accountant or agent and each underwriter the opportunity to participate in the preparation of such Registration Statement, each Prospectus included therein or each Prospectus filed with the Commission in connection therewith;
(j) promptly notify the sellers of Registrable Shares and each underwriter, if any:
(i) when such Registration Statement or any Prospectus or Issuer Free Writing Prospectus used in connection therewith has been filed and, with respect to such Registration Statement or any post-effective amendment thereof, when the same has become effective;
(ii) of any written comments from the Commission with respect to any filing referred to in clause (i) and of any written request by the Commission for amendments of or supplements to such Registration Statement, Prospectus or Issuer Free Writing Prospectus;
(iii) of the notification to the Company by the Commission or any other regulatory authority of its initiation of any proceeding with respect to, or of the issuance by the Commission or any other regulatory authority of, any stop order or notice suspending the effectiveness of such Registration Statement; and
(5iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities Shares for sale under the applicable securities or blue sky laws of any jurisdiction jurisdiction; and, in the case of clauses (ii), (iii) and (iv), promptly use all reasonable and diligent efforts to, respectively, (A) respond satisfactorily to any such comments and to file promptly any necessary amendments or supplements; (B) prevent the initiation or threat issuance of any proceeding for stop order or to obtain its withdrawal if such purpose;
stop order should be issued; and (ixC) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness such suspension of such registration statementqualification;
(xik) upon request, furnish to each seller of Registrable Shares a signed counterpart, addressed to such seller (and each underwriter, if any) of:
(i) an opinion of counsel to the Company, dated the effective date of such Registration Statement (and, if such registration includes an underwritten public offering, dated the date of the closing under the underwriting agreement), reasonably satisfactory in form and substance to such seller (and such underwriter); and
(ii) a "comfort" letter, dated the effective date of such Registration Statement (and, if such registration includes an underwritten public offering, dated the date of the closing under the underwriting agreement), signed by the independent registered public accountants who have certified the Company's financial statements included in such Registration Statement, provided that such seller of Registrable Shares provides such accountants with such certificates as are reasonably and customarily requested by such accountants; in each case covering substantially the same matters with respect to such Registration Statement (and the Prospectus included therein) and, in the case of the accountants' letter, with respect to events subsequent to the date of such financial statements and other financial matters, as are customarily covered in opinions of issuer's counsel and in accountants' letters delivered to the underwriters in underwritten public offerings of securities;
(l) otherwise use commercially all reasonable and diligent efforts to comply with all applicable rules and regulations of the Commission, Securities Laws and make available to Selling Holdersits security holders, as promptly soon as practicable, reasonably practicable an earnings earning statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder;
(xiim) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law)each seller, if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to agent participating in the Company’s transfer agent prior to the effectiveness disposition of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare Registrable Shares and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters their respective counsel in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in connection with any filings required to be made with the Financial Industry Regulatory AuthorityNational Association of Securities Dealers, Inc. Inc.; and
(“FINRA”n) and in at least 48 hours prior to the performance filing or designation of any due diligence investigation by Registration Statement, the filing of any underwriter Prospectus or Issuer Free Writing Prospectus or the filing of any amendment of or supplement to such Registration Statement, Prospectus or Issuer Free Writing Prospectus, furnish a copy thereof to the sellers of Registrable Shares or their legal counsel and refrain from filing or designating, as the case may be, any such Registration Statement, Prospectus, Issuer Free Writing Prospectus or amendment thereof or supplement thereto to which such counsel shall have reasonably objected on the grounds that is required to be undertaken such document does not comply in accordance all material respects with the requirements of the Securities Act or the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriterthereunder, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form)case of an amendment or supplement, in such denominations as requested and instruct any transfer agent and registrar the opinion of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from counsel for the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented filing or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt designation of such notice relating amendment or supplement is reasonably necessary to such Registrable Securities. In the event protect the Company shall give such notice, from any liabilities under any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented federal or amended prospectus state law and such prospectus shall have been filed with the Commissionfiling or designation will not violate applicable laws.
Appears in 2 contracts
Samples: Registration Rights Agreement (Chipotle Mexican Grill Inc), Registration Rights Agreement (Chipotle Mexican Grill Inc)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts by the provisions hereof to effect the registration of any the Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Act, the Company shall will, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare and file with the Commission a registration statement with respect to effect such registrationsecurities, cause such registration statement promptly as possible respond to become effective at any comments received from the earliest possible date permitted under the rules Commission and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant for the period of the distribution contemplated thereby (determined as herein provided), and promptly provide to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) Purchaser copies of all such documents proposed to be filed, which documents will be subject to the review filings and Commission letters of such counsel, and such review to be conducted with reasonable promptnesscomment;
(iib) prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by the registration statement and to keep such registration statement effective until the earlier of: (i) six months after the latest exercise period of such time as the Warrant; (ii) four years after the Closing Date; or (iii) the date on which the Purchaser has disposed of all of the Registrable Securities covered by such securities have been disposed of registration statement in accordance with the Purchaser's intended methods method of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after for such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveperiod;
(iiic) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), Purchaser such number of copies of the prospectus contained in such registration statement and the prospectus included therein (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under as the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, Purchaser reasonably may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned securities covered by such sellerregistration statement;
(ivd) use its commercially reasonable efforts to register or qualify such the Purchaser's Registrable Securities covered by such registration statement under such other the securities laws or "blue sky sky" laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall Purchaser reasonably requestrequests; provided, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderhowever, except that the Company shall not for any such purpose be required to qualify generally to do transact business as a foreign corporation in any jurisdiction wherein where it would is not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by list the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable any securities exchange on which the Selling Holder(s) thereof to consummate Common Stock of the disposition of such Registrable SecuritiesCompany is then listed;
(viif) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for immediately notify the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, Purchaser at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Act of the happening of any event of which the Company has knowledge as a result of which, which the prospectus included contained in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;misleading in light of the circumstances then existing; and
(xg) make every reasonable effort to obtain available for inspection by the withdrawal of Purchaser and any order suspending attorney, accountant or other agent retained by the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with Purchaser all applicable rules publicly available, non-confidential financial and regulations of the Commissionother records, pertinent corporate documents and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day properties of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to cause the Company’s transfer agent prior 's officers, directors and employees to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agenciesall publicly available, as the case may be, and otherwise use its reasonable best efforts to cooperate as non-confidential information reasonably requested by the Selling Holders and the underwriters in the offeringattorney, marketing accountant or selling agent of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementPurchaser.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Digital Angel Corp), Registration Rights Agreement (Digital Angel Corp)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities 1933 Act as provided in Sections 3.1 and 3.2Section 2.2 and, as applicable, 2.3, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a registration statement SEC the Registration Statement, or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under 1933 Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the SEC, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.2); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any registration statement pursuant to Section 2.2 or Section 2.3, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities 1933 Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of thirty six (36) months after the date of this Agreement (subject to the right of the Company to suspend the effectiveness thereof for not more than 25 consecutive Trading Days or an aggregate of 25 Trading Days during each year (each a "Black-Out Period")) or such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or "Registration Maintenance Period"). The Company must notify the Investor within twenty four (ii24) in the case of a Piggyback Registration pursuant hours prior to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveany Black-Out Period;
(iii) furnish to each Selling Holder and each underwriter, if any, holder of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities 1933 Act, in conformity with the requirements of the Securities 1933 Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder holder of Registrable Securities and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerholder of Registrable Securities;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other U.S. federal or state securities laws or U.S. state blue sky laws of such jurisdictions as any Selling Holder and any underwriter U.S. holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder of Registrable Securities to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderholder of Registrable Securities, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) U.S. holder of Registrable Securities thereof to consummate the disposition of such Registrable Securities;
(viivi) in connection with an Underwritten Offeringfurnish to each holder of Registrable Securities a signed counterpart, obtain for each Selling Holder addressed to such holder of Registrable Securities, and underwriter:
(1) the underwriters, if any, of an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), reasonably satisfactory in opinions requested form and substance to such holder of Registrable Securities) including that the prospectus and any prospectus supplement forming a part of the Registration Statement does not contain an untrue statement of a material fact or omits a material fact required to be stated therein or necessary in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwritersorder to make the statements therein, in light of the circumstances under which they were made, not misleading, and
(2vii) a “comfort” letter (or, notify the Investor and its counsel promptly and confirm such advice in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) writing promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following eventsknowledge thereof:
(1a) when the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment thereto, when the same has become effective;
(2b) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3c) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5d) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling Holderholder of Registrable Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities 1933 Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such holder of Registrable Securities promptly prepare and furnish to such seller holder of Registrable Securities a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort misleading in the light of the circumstances then existing; use its best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xiix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities 1933 Act and Rule 158 thereunder;
(xiix) cooperate with enter into such agreements and take such other actions as the sellers and Investors shall reasonably request in writing (at the managing underwriter expense of the requesting or benefiting Investors) in order to expedite or facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness disposition of such registration statement a supply of such certificates as necessary or appropriate;Registrable Securities; and
(xiiixi) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list all Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling such registration statement on any securities exchange on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed. The Company may require each Selling Holder and each underwriter, if any, holder of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such holder of Registrable Securities and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementin writing.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Common Stock Purchase Agreement (Asia Premium Television Group), Registration Rights Agreement (Broadcast International Inc)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the Securities 1933 Act as provided in Sections 3.1 and 3.2Section 2.2 and, as applicable, 2.3, the Company shall shall, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(i) prepare and file with the Commission a registration statement SEC the Registration Statement, or amendments thereto, to effect such registration, cause registration (including such registration statement to become effective at audited financial statements as may be required by the earliest possible date permitted under 1933 Act or the rules and regulations of the Commission, promulgated thereunder) and thereafter use its commercially reasonable best efforts to cause such registration statement to remain be declared effective by the SEC, as soon as practicable, but in any event no later than the Required Effectiveness Date (with respect to a registration pursuant to the terms of this AgreementSection 2.2); provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) registration, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) with respect to any registration statement pursuant to Section 2.2 or Section 2.3, prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities 1933 Act with respect to the disposition of all securities Registrable Securities covered by such registration statement until the earlier to occur of thirty six (36) months after the date of this Agreement (subject to the right of the Company to suspend the effectiveness thereof for not more than 25 consecutive Trading Days or an aggregate of 25 Trading Days during each year (each a "Black-Out Period")) or such time as all of such the securities have been disposed which are the subject of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or cease to be Registrable Securities (i) such period, in the case of a Demand Registration pursuant to Section 3.1each case, the expiration of 60 days after such registration statement becomes effective, or "Registration Maintenance Period"). The Company must notify the Investor within twenty four (ii24) in the case of a Piggyback Registration pursuant hours prior to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveany Black-Out Period;
(iii) furnish to each Selling Holder and each underwriter, if any, holder of the securities being sold Registrable Securities covered by such Selling Holder registration statement such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities 1933 Act, in conformity with the requirements of the Securities 1933 Act, and any Issuer Free Writing Prospectus and such other documents documents, as such Selling Holder holder of Registrable Securities and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerholder of Registrable Securities;
(iv) use its commercially reasonable best efforts to register or qualify such all Registrable Securities and other securities covered by such registration statement under such other U.S. federal or state securities laws or U.S. state blue sky laws of such jurisdictions as any Selling Holder and any underwriter U.S. holder of the securities being sold by such Selling Holder Registrable Securities thereof shall reasonably request, to keep such registrations or qualifications in effect for so long as such registration statement remains in effect, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter holder of Registrable Securities to consummate the disposition in such jurisdictions of the Registrable Securities securities owned by such Selling Holderholder of Registrable Securities, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause subdivision (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(v) use its commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) U.S. holder of Registrable Securities thereof to consummate the disposition of such Registrable Securities;
(viivi) furnish to holder of Registrable Securities at the address provided in connection with an Underwritten Offeringthe Securities Purchase Agreement a signed counterpart, obtain for each Selling Holder addressed to such holder of Registrable Securities, and underwriter:
(1) the underwriters, if any, of an opinion of counsel for the Company, covering dated the matters customarily covered effective date of such registration statement (or, if such registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement), reasonably satisfactory in opinions requested form and substance to such holder of Registrable Securities) including that the prospectus and any prospectus supplement forming a part of the Registration Statement does not contain an untrue statement of a material fact or omits a material fact required to be stated therein or necessary in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwritersorder to make the statements therein, in light of the circumstances under which they were made, not misleading, and
(2vii) a “comfort” letter (or, notify the Investor and its counsel promptly at the address provided in the case of any Securities Purchase Agreement and confirm such Person which does not satisfy the conditions for receipt of a “comfort” letter specified advice in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) writing promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following eventsknowledge thereof:
(1a) when the filing of the registration statementRegistration Statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement Registration Statement has been filed, and, with respect to the registration statement Registration Statement or any post-effective amendment thereto, when the same has become effective;
(2b) of any request by the Commission SEC for amendments or supplements to the registration statement Registration Statement or the prospectus or for additional information;
(3c) of the issuance by the Commission SEC of any stop order suspending the effectiveness of the registration statement Registration Statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5d) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixviii) notify each Selling Holderprovide notice to the holder of Registrable Securities covered by such registration statement at the address provided in the Securities Purchase Agreement, at any time when a prospectus relating thereto is required to be delivered under the Securities 1933 Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact facts required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances then existing, and, and at the request of any Selling Holder, such holder of Registrable Securities promptly prepare and furnish to such seller holder of Registrable Securities a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securitiessecurities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(x) make every reasonable effort misleading in the light of the circumstances then existing; use its best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statementthe Registration Statement at the earliest possible moment;
(xiix) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling Holdersits security holders, as promptly soon as reasonably practicable, an earnings statement covering the period of at least 12 twelve months, but not more than 18 eighteen months, beginning with the first day of the Company’s first full quarter calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities 1933 Act and Rule 158 thereunder;
(xiix) cooperate with enter into such agreements and take such other actions as the sellers and Investors shall reasonably request in writing (at the managing underwriter expense of the requesting or benefiting Investors) in order to expedite or facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent prior to the effectiveness disposition of such registration statement a supply of such certificates as necessary or appropriate;Registrable Securities; and
(xiiixi) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its commercially reasonable best efforts to cooperate as reasonably requested list all Registrable Securities covered by the Selling Holders and the underwriters in the offering, marketing or selling such registration statement on any securities exchange on which any of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange ActSecurities are then listed. The Company may require each Selling Holder and each underwriter, if any, holder of Registrable Securities as to which any registration is being effected to furnish the Company in writing such information regarding each Selling Holder or underwriter such holder of Registrable Securities and the distribution of such Registrable Securities securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementin writing.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Asia Premium Television Group), Registration Rights Agreement (Asia Premium Television Group)
Registration Procedures. (a) If and whenever the Company is required to use commercially reasonable efforts by the provisions hereof to effect the registration of any the Registrable Securities under the Securities Act as provided in Sections 3.1 and 3.2Act, the Company shall will, as promptly expeditiously as practicable (in each case, to the extent applicable):possible:
(ia) prepare and file with the Commission SEC a registration statement with respect to effect such registrationsecurities, cause such registration statement promptly as possible respond to become effective at any comments received from the earliest possible date permitted under the rules SEC and regulations of the Commission, and thereafter use commercially reasonable its best efforts to cause such registration statement to become and remain effective pursuant for the period of the distribution contemplated thereby (determined as herein provided), and promptly provide to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) Purchaser copies of all such documents proposed to be filed, which documents will be subject to the review filings and SEC letters of such counsel, and such review to be conducted with reasonable promptnesscomment;
(iib) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by the registration statement and to keep such registration statement effective until the earlier of: (i) six months after the latest exercise period of such time as the Warrant; (ii) four years after the Closing Date, or (iii) the date on which the Purchaser has disposed of all of the Registrable Securities covered by such securities have been disposed of registration statement in accordance with the Purchaser's intended methods method of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after for such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effectiveperiod;
(iiic) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), Purchaser such number of copies of the prospectus contained in such registration statement and the prospectus included therein (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under as the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter, if any, Purchaser reasonably may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned securities covered by such sellerregistration statement;
(ivd) use its commercially reasonable efforts to register or qualify such the Purchaser's Registrable Securities covered by such registration statement under such other the securities laws or "blue sky sky" laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably requestPurchaser, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holderprovided, except however, that the Company shall not for any such purpose be required to qualify generally to do transact business as a foreign corporation in any jurisdiction wherein where it would is not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction qualified or to file a general consent to general service of process in any such jurisdiction;
(ve) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by list the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;
(vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable any securities exchange on which the Selling Holder(s) thereof to consummate Common Stock of the disposition of such Registrable SecuritiesCompany is then listed;
(viif) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for immediately notify the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, Purchaser at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon of the happening of any event of which the Company has knowledge as a result of which, which the prospectus included contained in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;misleading in light of the circumstances then existing; and
(xg) make every reasonable effort to obtain available for inspection by the withdrawal of Purchaser and any order suspending attorney, accountant or other agent retained by the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts to comply with Purchaser, all applicable rules publicly available, non-confidential financial and regulations of the Commissionother records, pertinent corporate documents and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day properties of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xii) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to cause the Company’s transfer agent prior 's officers, directors and employees to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agenciesall publicly available, as the case may be, and otherwise use its reasonable best efforts to cooperate as non-confidential information reasonably requested by the Selling Holders and the underwriters in the offeringattorney, marketing accountant or selling agent of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statementPurchaser.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Registration Rights Agreement (Laurus Master Fund LTD), Registration Rights Agreement (Cycle Country Accessories Corp)
Registration Procedures. (a) If and whenever In the case of each registration, qualification, or compliance effected by the Company is required pursuant to Section 4(a), the Company will keep each Holder including securities therein reasonably advised in writing (which may include e-mail) as to the initiation of each registration, qualification, and compliance and as to the completion thereof. In addition, the Company hereby agrees as follows with respect to the Registration Statement.
(i) The Company will use its commercially reasonable efforts to effect cause the registration Registration Statement to become and remain effective at least for a period ending with the first to occur of any (A) the sale by the Holders of all Registrable Securities covered by the Registration Statement, (B) the availability under Rule 144 for the Holders to immediately, freely resell without restriction or filing with the SEC all Registrable Securities Act covered by the Registration Statement, or (C) the date that is two years after the SEC Effective Date (provided, however, that if the Company files the Registration Statement on Form S-1 and subsequently becomes eligible to use Form S-3, it may file a post-effective amendment to such Form S-1 on Form S-3 prior to the end of such period and use its commercially reasonable efforts to cause the Registration Statement as provided amended to become effective until the end of such period) (in Sections 3.1 any such case, the “Effectiveness Period”). At any time after the end of the Effectiveness Period, if (a) the Holders Beneficially Own Registrable Securities representing more than 10% of the fully diluted equity interests in the Company (calculated giving effect to the exercise of all outstanding options, warrants and 3.2other rights to purchase to acquire any Common Stock of the Company) or (b) any nominee designated by the Investors pursuant to Section 2(a) is a member of the Board, then (x) as promptly as reasonably practicable after the written request of Holders of greater than 50% of the Registrable Securities, the Company shall as promptly as practicable file with the SEC another shelf registration statement on Form S-1 (in each caseor, if the Company is eligible to use such form, Form S-3) relating to the extent applicable):registration of the offer and resale by the Holders of all of the Registrable Securities, (y) the provisions of this Agreement (including without limitation the provisions of Section 4(a) and Section 4(b)) shall apply to such registration statement and (z) such registration statement shall be deemed to be the Registration Statement (as defined in Section 4(a)) for purposes of this Agreement.
(iii) If the Registration Statement becomes subject to review by the SEC, the Company will promptly respond to all comments and diligently pursue resolution of any comments to the satisfaction of the SEC.
(iii) The Company will prepare and file with the Commission a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement the Registration Statement and the any prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be reasonably necessary to keep such registration statement the Registration Statement effective during the Effectiveness Period, and to will comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of Registration Statement during such time as all of such securities have been disposed of period in accordance with the intended methods method(s) of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, the expiration of 60 days after such registration statement becomes effective, or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective;Statement.
(iiiiv) furnish The Company will furnish, without charge, to each Selling Holder and each underwriter, if any, (A) a reasonable number of copies of the securities being sold Registration Statement (including any exhibits thereto other than exhibits incorporated by such Selling Holder such number of conformed copies of such registration statement and of reference), each amendment and supplement thereto as such Holder may request, (in each case including all exhibits), B) such number of copies of the prospectus contained included in such registration statement Registration Statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act) as such Holder may request, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and (C) such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller;Holder, but only during the Effectiveness Period.
(ivv) The Company will use its commercially reasonable efforts to register or qualify such the Registrable Securities covered by such registration statement under such other applicable securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter reasonably requests as may be necessary for the marketability of the securities being sold Registrable Securities (such request to be made by such Selling Holder shall reasonably request, the time the Registration Statement is deemed effective by the SEC) and take do any and all other action acts and things which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder; provided, except however, that the Company shall not for any such purpose be required to (A) qualify generally to do business as a foreign corporation in any jurisdiction wherein where it would not otherwise be required to qualify but for the requirements of this clause paragraph (ivv), (B) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction jurisdiction, or to file a general (C) consent to general service of process in any such jurisdiction;
(v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange or the Nasdaq Stock Market;.
(vi) use commercially reasonable efforts to cause As promptly as practicable after becoming aware of such event, the Company will notify each Holder of such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:
(1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder and underwriters, and
(2) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3) promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viii) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:
(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus or post-effective amendment to the registration statement and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information;
(3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ix) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon Act of the happening of any event which comes to the Company’s attention if as a result of which, such event the prospectus included in such registration statement, as then in effect, includes the Registration Statement contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at and the request of any Selling Holder, Company shall promptly prepare and furnish to such seller a reasonable number of copies of Holder a supplement or amendment to or an amendment of such prospectus as may be necessary (or prepare and file appropriate reports under the Exchange Act) so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include contain an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading;, unless suspension of the use of such prospectus otherwise is authorized herein or in the event of a Blackout Period, in which case no supplement or amendment need be furnished (or Exchange Act filing made) until the termination of such suspension or Blackout Period.
(xvii) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xi) otherwise use commercially reasonable efforts The Company will comply, and continue to comply during the period that the Registration Statement is effective under the Securities Act, in all material respects with the Securities Act and the Exchange Act and with all applicable rules and regulations of the CommissionSEC with respect to the disposition of all securities covered by the Registration Statement.
(viii) As promptly as practicable after becoming aware of such event, the Company will notify each Holder of Registrable Securities being offered or sold pursuant to the Registration Statement of the issuance by the SEC of any stop order or other suspension of effectiveness of the Registration Statement.
(ix) The Company will permit the Holders of Registrable Securities being included in the Registration Statement and their legal counsel, at such Holders’ sole cost and expense to review and have a reasonable opportunity to comment on the Registration Statement and all amendments and supplements thereto at least two Business Days prior to their filing with the SEC.
(x) The Company will make available for inspection by any Holder and any Inspector retained by such Holder, at such Holder’s sole expense, all records as shall be reasonably necessary to enable such Holder to exercise its due diligence responsibility, and make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of cause the Company’s first full quarter after the effective date officers, directors, and employees to supply all information which such Holder or any Inspector may reasonably request for purposes of such registration statementdue diligence; provided, however, that such Holder shall hold in confidence and shall not make any disclosure of any record or other information which the Company determines in good faith to be confidential, and of which determination such Holder is so notified at the time such Holder receives such information, unless (w) such Holder had, or obtained, knowledge of such information without violation of or protection under any agreements with the Company or, to its knowledge any third party, (x) the disclosure of such record is reasonably necessary to avoid or correct a misstatement or omission in the Registration Statement and a reasonable time prior to such disclosure the Holder shall have informed the Company of the need to so correct such misstatement or omission and the Company shall have failed to correct such misstatement of omission, (y) the release of such record is ordered pursuant to a subpoena or other order from a court or governmental body of competent jurisdiction or (z) the information in such record has been made generally available to the public other than by disclosure in violation of this Agreement or any other agreement. The Company shall not be required to disclose any confidential information in such records to any Inspector until and unless such Inspector shall have entered into a confidentiality agreement with the Company with respect thereto, containing terms substantially similar to those set forth in this Section 4(b)(x), which earnings statement agreement shall satisfy permit such Inspector to disclose records to the provisions Holder who has retained such Inspector. Each Holder agrees that it shall, upon learning that disclosure of Section 11(asuch records is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to the Company and allow the Company, at the Company’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the records deemed confidential. The Company shall hold in confidence and shall not make any disclosure of information concerning a Holder provided to the Company pursuant to this Agreement unless (A) disclosure of such information is reasonably necessary to comply with federal or state securities laws, (B) disclosure of such information to the SEC’s Staff of the Division of Corporation Finance is reasonably necessary to respond to comments raised by such staff in its review of the Registration Statement, (C) disclosure of such information is reasonably necessary to avoid or correct a misstatement or omission in the Registration Statement, (D) release of such information is ordered pursuant to a subpoena or other order from a court or governmental body of competent jurisdiction, or (E) such information has been made generally available to the public other than by disclosure in violation of this or any other agreement. The Company agrees that it shall, upon learning that disclosure of such information concerning a Holder is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to such Holder and allow such Holder, at such Holder’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such information.
(xi) The Company will use its commercially reasonable efforts to cause all the Registrable Securities Act and Rule 158 thereunder;covered by the Registration Statement to be listed or quoted on the principal securities market on which securities of the same class or series issued by the Company are then listed or traded.
(xii) The Company will provide a transfer agent and registrar, which may be a single entity, for the Registrable Securities at all times.
(xiii) The Company will cooperate with the sellers and Holders of Registrable Securities being offered pursuant to the managing underwriter Registration Statement to facilitate the timely preparation and delivery of certificates (which shall not bear bearing any restrictive legends unless required under applicable law), if necessary or appropriate, legends) representing securities sold under any registration statement, Registrable Securities to be offered pursuant to the Registration Statement and enable such securities certificates to be in such denominations or amounts as the Holders may reasonably request and registered in such names as the managing underwriter or such sellers Holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;
(xiii) have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities;request.
(xiv) if requested The Company will take all other reasonable actions necessary to expedite and facilitate disposition by any Selling the Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement Registration Statement, including without limitation making its chief executive officer, president, chief financial officer and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver other appropriate officers and personnel available to the Company, at the Company’s expense, all copies, other than permanent file copies, then participate in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating marketing efforts with respect to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commissionregistered underwritten public offering.
Appears in 2 contracts
Samples: Investors Rights Agreement (Allis Chalmers Energy Inc.), Stock Purchase Agreement (Allis Chalmers Energy Inc.)
Registration Procedures. (a) If and whenever the Company Fortress is required to use commercially reasonable best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 3.1 4.1 and 3.2, the Company 4.2 Fortress shall as promptly expeditiously as practicable (in each case, to the extent applicable):reasonably possible:
(i) prepare and file with the Commission SEC a registration statement to effect such registration, cause such registration statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable best efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreement; provided, however, that the Company Fortress may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company Fortress will furnish to the counsel selected by the holders of Investors which are including Registrable Securities which are to be included in such registration (“Selling HoldersInvestors”) copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness;
(ii) prepare and file with the Commission SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.14.1, the expiration of 60 90 days after such registration statement becomes effective, effective or (ii) in the case of a Piggyback Registration pursuant to Section 3.24.2, the expiration of 60 90 days after such registration statement becomes effective;
(iii) furnish to each Selling Holder Investor and each underwriter, if any, of the securities being sold by such Selling Holder Investor such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and each free writing prospectus (as defined in Rule 405 of the Securities Act) (a “Free Writing Prospectus”) utilized in connection therewith and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder Investor and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such sellerSelling Investor;
(iv) use commercially reasonable best efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder Investor and any underwriter of the securities being sold by such Selling Holder Investor shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder Investor and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling HolderInvestor, except that the Company Fortress shall not for any such purpose be required to (A) qualify generally to do business as a foreign corporation limited liability company in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to (B) subject itself to taxation in any such jurisdiction or to (C) file a general consent to service of process in any such jurisdiction;
(v) use commercially reasonable best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company Fortress are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange, the American Stock Exchange or the Nasdaq NASDAQ Stock Market;
(vi) use commercially reasonable best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(sInvestor(s) thereof to consummate the disposition of such Registrable Securities;
(vii) in connection with an Underwritten Offering, obtain for each Selling Holder Investor and underwriter:
(1A) an opinion of counsel for the CompanyFortress, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Holder Investor and underwriters, and
(2B) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the independent registered public accountants who have certified the CompanyFortress’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement);
(3viii) promptly make available for inspection by any sellerSelling Investor, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller Selling Investor or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company Fortress (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the CompanyFortress’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company Fortress shall not be required to provide any information under this subparagraph (viii) if (i) the Company Fortress believes, after consultation with counsel for the CompanyFortress, that to do so would cause the Company Fortress to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the Company Fortress has requested and been granted from the Commission SEC confidential treatment of such information contained in any filing with the Commission SEC or documents provided supplementally or otherwise or (B) the Company Fortress reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities Selling Investor requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the CompanyFortress; and provided, further, that each Holder of Registrable Securities Selling Investor agrees that it will, upon learning that disclosure of such Records by such Selling Investor is sought in a court of competent jurisdiction, give notice to the Company Fortress and allow the CompanyFortress, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;
(viiiix) promptly notify in writing each Selling Holder Investor and the underwriters, if any, of the following events:
(1A) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing Prospectus thereto or post-effective amendment to the registration statement or any Free Writing Prospectus utilized in connection therewith, and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective;
(2B) any request by the Commission SEC or any other Governmental Entity for amendments or supplements to the registration statement or the prospectus or for additional information;
(3C) the issuance by the Commission SEC or any other Governmental Entity of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;
(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement; and
(5D) the receipt by the Company Fortress of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;
(ixx) notify each Selling HolderInvestor, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling HolderInvestor, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(xxi) make every use reasonable effort best efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statement;
(xixii) otherwise use commercially reasonable best efforts to comply with all applicable rules and regulations of the CommissionSEC, and make available to Selling HoldersInvestors, as promptly soon as reasonably practicable, an earnings statement of Fortress covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the CompanyFortress’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
(xiixiii) use its reasonable best efforts to assist Selling Investors who made a request to Fortress to provide for a third party “market maker” for the Class A Shares; provided, however, that Fortress shall not be required to serve as such “market maker”;
(xiv) cooperate with the sellers Selling Investors and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, ) representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers Selling Investor may request and keep available and make available to the CompanyFortress’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as necessary or appropriate;certificates; and
(xiiixv) have appropriate officers of the Company Fortress prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, and other information meetings organized by the underwriters, take other actions to obtain ratings for any Registrable Securities (if they are eligible to be rated) and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders Investors and the underwriters in the offering, marketing or selling of the Registrable Securities;
(xiv) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Securities;
(xv) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA; and
(xvi) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act. The Company Fortress may require each Selling Holder Investor and each underwriter, if any, to furnish the Company Fortress in writing such information regarding each Selling Holder Investor or underwriter and the distribution of such Registrable Securities as the Company Fortress may from time to time reasonably request to complete or amend the information required by such registration statement.
(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.
(c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.
Appears in 2 contracts
Samples: Shareholder Agreement (Fortress Investment Group Holdings LLC), Shareholder Agreement (Fortress Investment Group Holdings LLC)