Regulatory Cooperation. (i) In the event that any XX Xxxxxx Investor reasonably determines that it has a Regulatory Problem, the Company agrees to take such actions as are reasonably requested by such XX Xxxxxx Investor in order (A) to effectuate and facilitate any transfer by such XX Xxxxxx Investor of any securities of the Company then held by such XX Xxxxxx Investor to any Affiliate of such XX Xxxxxx Investor; provided, however, that any such transfer must be made in accordance with applicable United States federal and state securities laws and all regulatory requirements to which the Company is then subject, including without limitation, the rules of the National Association of Securities Dealers, Inc. (“NASD”) and The Nasdaq Stock Market (“Nasdaq”), and (B) to permit such XX Xxxxxx Investor (or any of its Affiliates) to exchange all or any portion of the voting securities then held by such Person on a share-for-share basis for shares of a class or series of non-voting securities of the Company, which non-voting securities shall be identical in all material respects to such voting securities (provided that such non-voting securities may be of a different class or series of stock than the voting securities then held by the XX Xxxxxx Investor) except that such new securities shall be non-voting and shall be convertible into voting securities on such terms as are requested by such XX Xxxxxx Investor in light of regulatory considerations then prevailing and reasonably acceptable to the Company. If any XX Xxxxxx Investor elects to transfer securities of the Company in order to avoid a Regulatory Problem to an Affiliate subject to limitations on its voting or total ownership interest in the Company, the Company and such Affiliate shall enter into such mutually acceptable agreements as the Company or such Affiliate may reasonably request in order to assist such Affiliate in complying with Laws to which either of them is then subject. (ii) In the event that any Affiliate (other than an Affiliate referred to in clause (i) of such definition) of the Company ever offers to issue any of its securities to any XX Xxxxxx Investor, then the Company will cause such Affiliate to enter into an agreement with such XX Xxxxxx Investor substantially similar to this Agreement.
Appears in 1 contract
Samples: Investor Rights Agreement (Seattle Genetics Inc /Wa)
Regulatory Cooperation. (ia) Notwithstanding anything to the contrary contained in the Transaction Documents or other documents relating to the purchase and ownership of the Company's securities, it is understood and hereby expressly stated that Investor's obligations under the Transaction Documents or other documents relating to Investor's purchase and ownership of the Company's securities are, except as provided herein, subject to this Agreement. In the event that any XX Xxxxxx Investor reasonably determines that it has a Regulatory Problem, the Company agrees to take all such actions as are reasonably requested by such XX Xxxxxx Investor in order (A) to effectuate and facilitate any transfer by such XX Xxxxxx Investor of any securities of the Company then held by such XX Xxxxxx Investor to any Affiliate of such XX Xxxxxx Investor; provided, however, that any such transfer must be made in accordance with applicable United States federal and state securities laws and Person designated by Investor (subject to all regulatory requirements to which the Company is then subject, including without limitation, the rules of the National Association terms and conditions of Securities Dealers, Inc. (“NASD”) and The Nasdaq Stock Market (“Nasdaq”the Stockholders Agreement), and (B) to permit such XX Xxxxxx Investor (or any of its Affiliates) to exchange all or any portion of the voting securities then held by such Person on a share-for-share basis for shares of a class or series of non-voting securities of the Company, which non-voting securities shall be identical in all material respects to such voting securities (provided that such non-voting securities may be of a different class or series of stock than the voting securities then held by the XX Xxxxxx Investor) securities, except that such new securities shall be non-voting and shall be convertible into voting securities on such terms as are requested by such XX Xxxxxx Investor and reasonably acceptable to the Company in light of regulatory considerations then prevailing prevailing, and reasonably acceptable (C) to grant Investor or its designee the Companyreasonable equivalent of any voting rights arising out of Investor's ownership of voting securities and/or provided for in the Transaction Documents that were diminished as a result of the transfers and amendments referred to above. If any XX Xxxxxx Investor elects to transfer securities of the Company in order to avoid a Regulatory Problem to an Affiliate subject to limitations on its voting or total ownership interest in the Company, the Company and such Affiliate shall enter into such mutually acceptable agreements as the Company or such Affiliate may reasonably request in order to assist such Affiliate in complying with Laws to which either it is subject. Such agreements may include restrictions on the redemption, repurchase or retirement of them securities of the Company that would result or be reasonably expected to result in such Affiliate holding more voting securities or total securities (equity and debt) than it is then subjectpermitted to hold under such laws and regulations.
(iib) In the event Investor has the right to acquire any of the Company's securities from the Company or any other Person (as the result of a preemptive offer, pro rata offer or otherwise), and Investor reasonably determines that it has a Regulatory Problem, at Investor's request the Company will offer to sell to Investor non-voting securities (or, if the Company is not the proposed seller, will arrange for the exchange of any voting securities for non-voting securities immediately prior to or simultaneous with such sale) on the same terms as would have existed had Investor acquired the securities so offered and immediately requested their exchange for non-voting securities pursuant to subsection (a) above.
(c) In the event that any Affiliate (other than an Affiliate referred to in clause (i) of such definition) of the Company ever offers to issue any of its securities to any XX Xxxxxx Investor, then the Company will cause such Affiliate to enter into an agreement with such XX Xxxxxx Investor substantially similar to this Agreement.
Appears in 1 contract
Regulatory Cooperation. (ia) Notwithstanding anything to the contrary contained in this Agreement, it is understood and hereby expressly stated that JPMP’s obligations under this Agreement are subject to this Section 4.4. In the event that any XX Xxxxxx Investor JPMP reasonably determines that it has a Regulatory Problem, the Company agrees to take all such actions as are reasonably requested by such XX Xxxxxx Investor JPMP in order to (Ai) to effectuate and facilitate any transfer Transfer by such XX Xxxxxx Investor JPMP of any securities of the Company Equity Securities or rights relating thereto then held by such XX Xxxxxx Investor JPMP to any Affiliate of such XX Xxxxxx InvestorPerson designated by JPMP; provided, however, provided that any such transfer must Transfer during the Holding Period that is not a Transfer pursuant to Section 4.1(a)(i)-(ii) of this Agreement, shall require the consent of TPG so long as TPG has the right to nominate a Sponsor Director, which consent shall not be made in accordance with applicable United States federal and state securities laws and all regulatory requirements unreasonably withheld or delayed; (ii) permit JPMP, to which the Company extent that it is then subjectpermitted by law, including without limitation, the rules of the National Association of Securities Dealers, Inc. (“NASD”) and The Nasdaq Stock Market (“Nasdaq”), and (B) to permit such XX Xxxxxx Investor (or any of its Affiliates) to exchange all or any portion of the voting securities then held by such Person on a share-for-share basis for shares of a class or series of non-voting securities of the Company, which non-voting securities shall be identical in all material respects to such voting securities (provided that such non-voting securities may be of a different class or series of stock than the voting securities then held by the XX Xxxxxx Investor) securities, except that such new securities shall be non-voting and and/or shall be convertible into voting securities on such terms as are requested by such XX Xxxxxx Investor in light of regulatory considerations then prevailing JPMP and reasonably acceptable to the CompanyCompany in light of the regulatory considerations then prevailing; provided that any such exchange shall require the consent of TPG so long as TPG has the right to nominate a Sponsor Director, which consent shall not be unreasonably withheld or delayed by TPG; and (iii) in the event of the exchange described in clause (ii), grant JPMP or its designee, to the extent that it is permitted by law, the reasonable equivalent of any voting rights arising out of JPMP’s ownership of voting securities that were diminished as a result of the exchange referred to in clause (ii) above; provided that any such grant shall require the consent of TPG so long as TPG has the right to nominate a Sponsor Director, which consent shall not be unreasonably withheld or delayed by TPG. If any XX Xxxxxx Investor JPMP elects to transfer Transfer securities of the Company to an Affiliate in order to avoid a Regulatory Problem to an Affiliate Problem, subject to limitations on its voting or total ownership interest in the Company, the Company and such Affiliate shall enter into such agreements that are mutually acceptable agreements to JPMP and the Company, as the Company or such Affiliate may reasonably request in order to assist such Affiliate in complying with Laws laws to which either it is subject; provided that entering into any such agreement shall require the consent of them TPG so long as TPG has the right to nominate a Sponsor Director, which consent shall not be unreasonably withheld or delayed by TPG. Such agreements may include restrictions on the redemption, repurchase or retirement of securities of the Company, mutually acceptable to JPMP and the Company, that would prevent such Affiliate from holding more voting securities or total securities (equity and debt) than it is then subjectpermitted to hold under such laws and regulations; provided that entering into any such agreement shall require the consent of TPG so long as TPG has the right to nominate a Sponsor Director, which consent shall not be unreasonably withheld or delayed by TPG.
(iib) During the Holding Period, each Holder agrees to cooperate with the Company and JPMP in all reasonable respects in complying with the terms and provisions of Section 4.4, including without limitation, voting to approve amending this Agreement or the organizational documents of the Company, in a manner reasonably acceptable to Holders and JPMP or any Affiliate of JPMP entitled to make such request pursuant to Section 4.4 in order to take the specific actions contemplated in Section 4.4(a) to remedy a Regulatory Problem. Notwithstanding anything contained in Section 4.4 to the contrary, neither the Company nor any Holder shall be required under Section 4.4 to take any action that would adversely affect in any material respect the Company or any Holder’s rights under this Agreement or as a holder of Equity Securities or rights relating thereto. The Company and each Holder agrees not to amend or waive the voting or other provisions of the Certificate of Incorporation of the Company or this Agreement if such amendment or waiver would cause JPMP or any of its Affiliates to have a Regulatory Problem. JPMP agrees to notify the Company as to whether or not it would have a Regulatory Problem promptly after JPMP has received notice of any such proposed amendment or waiver.
(c) In the event JPMP Transfers any Units in accordance with this Agreement, such transferee of JPMP shall have the rights of JPMP under this Section 4.4; provided that such transferee is subject to Banking Regulations and such transferee reasonably determines that it has a Regulatory Problem and, provided, further, that, for the avoidance of doubt, such transferee shall not have the status of a “Sponsor” for any Affiliate purposes of this Agreement unless such Person is a Permitted Transferee of JPMP.
(other than an Affiliate referred to in clause d) (i) of such definition) The Company hereby represents and warrants that neither the Company nor, to the knowledge of the Company ever offers to issue Company, based solely upon inquiry of management, any of its securities subsidiaries (A) offers or markets, directly or through any arrangement, any product or service of any depository institution owned by X.X. Xxxxxx Xxxxx & Co., or (B) permits any of its products or services to be offered or marketed, directly or through any XX arrangement, by or through any depository institution owned by X.X. Xxxxxx Investor, then the Company will cause such Affiliate to enter into an agreement with such XX Xxxxxx Investor substantially similar to this Agreement.Chase & Co.
Appears in 1 contract
Samples: Registration Rights and Shareholders’ Agreement (Polymer Holdings LLC)
Regulatory Cooperation. (i) In the event that any XX Xxxxxx Investor reasonably determines that it has a Regulatory Problem, the Company agrees to take all such actions as are reasonably requested by such XX Xxxxxx Investor in order (A) to effectuate and facilitate any transfer by such XX Xxxxxx Investor of any securities of the Company then held by such XX Xxxxxx Investor to any Affiliate of such XX Xxxxxx Person designated by Investor; provided, however, that any such transfer must be made in accordance with applicable United States federal and state securities laws and all regulatory requirements to which the Company is then subject, including without limitation, the rules of the National Association of Securities Dealers, Inc. (“NASD”) and The Nasdaq Stock Market (“Nasdaq”), and (B) to permit such XX Xxxxxx Investor (or any of its Affiliates) to exchange all or any portion of the voting securities then held by such Person on a share-for-share basis for shares of a class or series of non-voting securities of the Company, which non-voting securities shall be identical in all material respects to such voting securities (provided that such non-voting securities may be of a different class or series of stock than the voting securities then held by the XX Xxxxxx Investor) securities, except that such new securities shall be non-voting and shall be convertible into voting securities on such terms as are requested by such XX Xxxxxx Investor and reasonably acceptable to the Company in light of regulatory considerations then prevailing prevailing, and reasonably acceptable (C) to grant Investor or its designee the Companyreasonable equivalent of any voting rights arising out of Investor's ownership of voting securities and/or provided for in the Investor Rights Agreement that were diminished as a result of the transfers and amendments referred to above. If any XX Xxxxxx Investor elects to transfer securities of the Company in order to avoid a Regulatory Problem to an Affiliate subject to limitations on its voting or total ownership interest in the Company, the Company and such Affiliate shall enter into such mutually acceptable agreements as the Company or such Affiliate may reasonably <PAGE> request in order to assist such Affiliate in complying with Laws to which either it is subject Such agreements may include restrictions on the redemption, repurchase or retirement of them is then subject.
(ii) In the event that any Affiliate (other than an Affiliate referred to in clause (i) of such definition) securities of the Company ever offers that would result or be reasonably expected to issue any of its securities to any XX Xxxxxx Investor, then the Company will cause result in such Affiliate holding more voting securities or total securities (equity and debt) than it is permitted to enter into an agreement with hold under such XX Xxxxxx Investor substantially similar to this Agreementlaws and regulations.
Appears in 1 contract
Samples: Investor Rights Agreement
Regulatory Cooperation. (i) In the event that any XX Xxxxxx Investor reasonably determines that it has a Regulatory Problem, each of the Company and the PCP Entities agrees to take all such actions as are reasonably requested by such XX Xxxxxx Investor in order (A) to effectuate and facilitate any transfer by such XX Xxxxxx Investor of any securities of the Company then held by Investor or such XX Xxxxxx PCP Entity for the account of such Investor to any Affiliate of such XX Xxxxxx Person designated by Investor; provided, however, that any such transfer must be made in accordance with applicable United States federal and state securities laws and all regulatory requirements to which the Company is then subject, including without limitation, the rules of the National Association of Securities Dealers, Inc. (“NASD”) and The Nasdaq Stock Market (“Nasdaq”), and (B) to permit such XX Xxxxxx Investor (or any of its Affiliates) to exchange or to direct such PCP Entities to exchange all or any portion of the voting securities then held by such Person on a share-for-share basis for shares of a class or series of non-voting securities of the Company, which non-voting securities shall be identical in all material respects to such voting securities (provided that such non-voting securities may be of a different class or series of stock than the voting securities then held by the XX Xxxxxx Investor) securities, except that such new securities shall be non-voting and shall be convertible into voting securities on such terms as are requested by such XX Xxxxxx Investor and reasonably acceptable to the Company in light of regulatory considerations then prevailing prevailing, and reasonably acceptable (C) to grant Investor or its designee the Companyreasonable equivalent of any voting rights arising out of Investor's ownership of voting securities and/or provided for in the Stockholders Agreement that were diminished as a result of the transfers and amendments referred to above. If any XX Xxxxxx Investor elects to transfer or directs the PCP Entities to transfer securities of the Company in order to avoid a Regulatory Problem to an Affiliate subject to limitations on its voting or total ownership interest in the Company, each of the Company Company, the Investor and such the PCP Entities and any Affiliate shall enter into such mutually acceptable agreements as the Company or any such Affiliate party may reasonably request in order to assist such Affiliate in complying with and avoiding liability pursuant to any Laws to which either it is subject and / or to give effect to Section 1(b) below. Such agreements may include restrictions on the redemption, repurchase or retirement of them securities of the Company that would result or be reasonably expected to result in such Affiliate holding more voting securities or total securities (equity and debt) than it is then subjectpermitted to hold under such laws and regulations.
(ii) In the event that Investor has the right to direct the PCP Entities to acquire any Affiliate of the Company's securities from the Company or any other Person (other than an Affiliate referred as the result of a preemptive offer, pro rata offer or otherwise), and Investor reasonably determines that it has a Regulatory Problem, at Investor's request the Company will offer to in clause sell to Investor or to the PCP Entities, for the account of the Investor, non-voting securities (or, if the Company is not the proposed seller, will arrange for the exchange of any voting securities for non-voting securities immediately prior to or simultaneous with such sale) on the same terms as would have existed had Investor acquired or directed the PCP Entities to acquire the securities so offered and immediately requested their exchange for non-voting securities pursuant to subsection (i) of such definitionabove.
(iii) In the event that any Affiliate of the Company ever offers to issue any of its securities to any XX Xxxxxx Investor or to the PCP Entities for the account of the Investor, then the Company will cause such Affiliate to enter into an agreement with such XX Xxxxxx Investor substantially similar to this Agreement.
Appears in 1 contract
Samples: Regulatory Sideletter (Penske Capital Partners LLC)
Regulatory Cooperation. (ia) In the event that any XX Xxxxxx the Investor reasonably determines that it has a Regulatory Problem, the Company agrees to take all such actions as are reasonably requested by such XX Xxxxxx the Investor in order (Ai) to effectuate and facilitate any transfer by such XX Xxxxxx the Investor of any securities of the Company then held by such XX Xxxxxx the Investor to any Affiliate of such XX Xxxxxx Person designated by the Investor; provided, however, that any such transfer must be made in accordance with applicable United States federal and state securities laws and all regulatory requirements to which the Company is then subject, including without limitation, the rules of the National Association of Securities Dealers, Inc. (“NASD”) and The Nasdaq Stock Market (“Nasdaq”), and (Bii) to permit such XX Xxxxxx the Investor (or any of its Affiliates) to exchange all or any portion of the voting securities then held by such Person on a share-for-share basis for shares of a class or series of non-voting securities of the Company, which non-voting securities shall be identical in all material respects to such voting securities (provided that such non-voting securities may be of a different class or series of stock than the voting securities then held by the XX Xxxxxx Investor) securities, except that such new securities shall be non-voting and shall be convertible into voting securities on such terms as are requested by such XX Xxxxxx the Investor and reasonably acceptable to the Company in light of regulatory considerations then prevailing and reasonably acceptable (iii) to grant the CompanyInvestor or its designee the reasonable equivalent of any voting rights arising out of the Investor's ownership of voting securities and/or provided for in the Stockholders Agreement that were diminished as a result of the transfers and amendments referred to above. If any XX Xxxxxx the Investor elects to transfer securities of the Company in order to avoid a Regulatory Problem to an Affiliate subject to limitations on its voting or total ownership interest in the Company, the Company and such Affiliate shall enter into such mutually acceptable agreements as the Company or such Affiliate may reasonably request in order to assist such Affiliate in complying with Laws to which either it is subject. Such agreements may include restrictions on the redemption, repurchase or retirement of them securities of the Company that would result or be reasonably expected to result in such Affiliate holding more voting securities or total securities (equity and debt) than it is then subjectpermitted to hold under such laws and regulations.
(iib) In the event the Investor has the right to acquire any of the Company's securities from the Company or any other Person (as the result of a preemptive offer, pro rata offer or otherwise), and the Investor reasonably determines that it has a Regulatory Problem, at the Investor's request the Company will offer to sell to the Investor non-voting securities (or, if the Company is not the proposed seller, will arrange for the exchange of any voting securities for non-voting securities immediately prior to or simultaneous with such sale) on the same terms as would have existed had the Investor acquired the securities so offered and immediately requested their exchange for non-voting securities pursuant to Section 1(a).
(c) In the event that any Affiliate (other than an Affiliate referred to in clause (i) of such definition) of the Company ever offers to issue any of its securities to any XX Xxxxxx the Investor, then the Company will cause such Affiliate to enter into an agreement with such XX Xxxxxx the Investor substantially similar to this Agreement.
Appears in 1 contract
Samples: Stockholders' Agreement (Huntsman Packaging of Canada LLC)
Regulatory Cooperation. (i) In the event that any XX Xxxxxx Investor reasonably determines that it has a Regulatory Problem, the Company agrees to take all such actions as are reasonably requested by such XX Xxxxxx Investor in order (A) to effectuate and facilitate any transfer by such XX Xxxxxx Investor of any securities of the Company then held by such XX Xxxxxx Investor to any Affiliate of such XX Xxxxxx Person designated by Investor; provided, however, that any such transfer must be made in accordance with applicable United States federal and state securities laws and all regulatory requirements to which the Company is then subject, including without limitation, the rules of the National Association of Securities Dealers, Inc. (“NASD”) and The Nasdaq Stock Market (“Nasdaq”), and (B) to permit such XX Xxxxxx Investor (or any of its Affiliates) to exchange all or any portion of the voting securities then held by such Person on a share-for-share basis for shares of a class or series of non-voting securities of the Company, which non-voting securities shall be identical in all material respects to such voting securities (provided that such non-voting securities may be of a different class or series of stock than the voting securities then held by the XX Xxxxxx Investor) securities, except that such new securities shall be non-voting and shall be convertible into voting securities on such terms as are requested by such XX Xxxxxx Investor and reasonably acceptable to the Company in light of regulatory considerations then prevailing prevailing, and (C) to grant Investor or its designee the reasonable equivalent of any voting rights arising out of Investor's ownership of voting securities and/or provided for in the Stockholders Agreement that were diminished as a result of the transfers and amendments referred to above (provided, that a transfer by Investor of any securities of the Company then held by Investor to a Person designated by Investor which is not its Affiliate shall be requested by Investor only after Investor has reasonably acceptable determined that neither the transfer of all or a portion of the voting securities to an Affiliate of it nor the exchange of all or a portion of the voting securities for non-voting securities, in each case as contemplated above and to the Companyextent possible under the circumstances, will eliminate the Regulatory Problem). If any XX Xxxxxx Investor elects to transfer securities of the Company in order to avoid a Regulatory Problem to an Affiliate subject to limitations on its voting or total ownership interest in the Company, the Company and such Affiliate shall enter into such mutually acceptable agreements as the Company or such Affiliate may reasonably request in order to assist such Affiliate in complying with Laws to which either it is subject. Such agreements may include restrictions on the redemption, repurchase or retirement of them securities of the Company that would result or be reasonably expected to result in such Affiliate holding more voting securities or total securities (equity and debt) than it is then subjectpermitted to hold under such laws and regulations.
(ii) In the event Investor has the right to acquire any of the Company's securities from the Company or any other Person (as the result of a preemptive offer, pro rata offer or otherwise), and Investor reasonably determines that it has a Regulatory Problem, at Investor's request the Company will offer to sell to Investor non-voting securities (or, if the Company is not the proposed seller, will arrange for the exchange of any Affiliate (other than an Affiliate referred voting securities for non-voting securities immediately prior to in clause or simultaneous with such sale) on the same terms as would have existed had Investor acquired the securities so offered and immediately requested their exchange for non-voting securities pursuant to subsection (i) of such definitionabove.
(iii) In the event that any subsidiary of the Company ever offers to issue any of its securities to any XX Xxxxxx Investor, then the Company will cause such Affiliate subsidiary to enter into an agreement with such XX Xxxxxx Investor substantially similar to this Agreement.
Appears in 1 contract
Regulatory Cooperation. (i) In the event that any XX Xxxxxx Investor reasonably determines that it has a Regulatory Problem, the Company agrees to take all such actions as are reasonably requested by such XX Xxxxxx Investor in order (A) to effectuate and facilitate any transfer by such XX Xxxxxx Investor of any securities of the Company then held by such XX Xxxxxx Investor to any Affiliate of such XX Xxxxxx Person designated by Investor; provided, however, that any such transfer must be made in accordance with applicable United States federal and state securities laws and all regulatory requirements to which the Company is then subject, including without limitation, the rules of the National Association of Securities Dealers, Inc. (“NASD”) and The Nasdaq Stock Market (“Nasdaq”), and (B) to permit such XX Xxxxxx Investor (or any of its Affiliates) to exchange all or any portion of the voting securities then held by such Person on a share-for-share basis for shares of a class or series of non-voting securities of the Company, which non-voting securities shall be identical in all material respects to such voting securities (provided that such non-voting securities may be of a different class or series of stock than the voting securities then held by the XX Xxxxxx Investor) securities, except that such new securities shall be non-voting and shall be convertible into voting securities on such terms as are requested by such XX Xxxxxx Investor and reasonably acceptable to the Company in light of regulatory considerations then prevailing prevailing, and reasonably acceptable (C) to grant Investor or its designee the Companyreasonable equivalent of any voting rights arising out of Investor's ownership of voting securities and/or provided for in the Investor Rights Agreement that were diminished as a result of the transfers and amendments referred to above. If any XX Xxxxxx Investor elects to transfer securities of the Company in order to avoid a Regulatory Problem to an Affiliate subject to limitations on its voting or total ownership interest in the Company, the Company and such Affiliate shall enter into such mutually acceptable agreements as the Company or such Affiliate may reasonably request in order to assist such Affiliate in complying with Laws to which either it is subject Such agreements may include restrictions on the redemption, repurchase or retirement of them securities of the Company that would result or be reasonably expected to result in such Affiliate holding more voting securities or total securities (equity and debt) than it is then subjectpermitted to hold under such laws and regulations.
(ii) In the event Investor has the right to acquire any of the Company's securities from the Company or any other Person (as the result of a preemptive offer, pro rata offer or otherwise), and Investor reasonably determines that it has a Regulatory Problem, at Investor's request the Company will offer to sell to Investor non-voting securities (or, if the Company is not the proposed seller, will arrange for the exchange of any voting securities for non-voting securities immediately prior to or simultaneous with such sale) on the same terms as would have existed had Investor acquired the securities so offered and immediately requested their exchange for non-voting securities pursuant to subsection (1) above.
(iii) In the event that any Affiliate (other than an Affiliate referred to in clause (i) of such definition) of the Company ever offers to issue any of its securities to any XX Xxxxxx Investor, then the Company will cause such Affiliate to enter into an agreement with such XX Xxxxxx Investor substantially similar to this Agreement.
Appears in 1 contract
Samples: Investor Rights Agreement (Algorx Pharmaceuticals Inc)