Common use of Reimbursement of Counsel Clause in Contracts

Reimbursement of Counsel. In connection with each Demand Registration and each Piggyback Registration, the Company shall reimburse the holders of Registrable Securities included in such registration (i) for the reasonable fees and disbursements (not to exceed $20,000 for any one registration) of one counsel chosen by the holders of a majority of the Purchaser Registrable Securities (or, if none, Registrable Securities) included in such registration and (ii) for the reasonable fees and disbursements (not to exceed $5,000 per additional counsel for any one registration) of each additional counsel retained by any holder of Registrable Securities solely for the purpose of rendering a legal opinion to underwriters on behalf of such holder in connection with any underwritten Demand Registration or Piggyback Registration.

Reimbursement of Counsel. In connection with each Demand Registration ------------------------ and each Piggyback Registration, the Company shall reimburse the holders of Registrable Securities included in such registration (i) for the reasonable fees and disbursements (not to exceed $20,000 for any one registration) of one counsel chosen by the holders of a majority of the Purchaser Registrable Securities (or, if none, Registrable Securities) included in such registration and (ii) for the reasonable fees and disbursements (not to exceed $5,000 per additional counsel for any one registration) of each additional counsel retained by any holder of Registrable Securities solely for the purpose of rendering a legal opinion to underwriters on behalf of such holder in connection with any underwritten Demand Registration or Piggyback Registration.