Common use of Registration; Restrictions on Sale upon Public Offering Clause in Contracts

Registration; Restrictions on Sale upon Public Offering. The Exercise LLC Units shall constitute "Registrable Securities" under the LLC Agreement. The Grantee agrees that, in the event that the Parent files a registration statement under the Securities Act with respect to an underwritten public offering of any of its LLC Units, options, warrants or other rights to purchase such LLC Units or securities convertible into such LLC Units, it will not effect any public sale (including a sale under Rule 144) or distribution of any LLC Units (other than as part of such underwritten public offering) during the 20 days prior to and one year after the effective date of such registration statement.