Common use of Removal of Restrictive Legends Clause in Contracts

Removal of Restrictive Legends. The Company shall use commercially reasonable best efforts to cause the Depositary to remove any legend restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act, or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, free of all legends. The Company agrees that following such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery by the Holder to the Company or the Transfer Agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legend, use its commercially reasonable best efforts to cause the Depositary to deliver to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 2 contracts

Samples: Avadel Pharmaceuticals PLC, Avadel Pharmaceuticals PLC

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Removal of Restrictive Legends. The Company Certificates evidencing the Exercise Shares shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)): (i) following resale of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: (A) such shares while a registration statement (including a the Registration Statement, as defined in the Registration Investor Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (Bii) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (Ciii) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale without volume or manner of sale limitation or current public information requirements under Rule 144(b)(1) of the Securities Act, 144 or (Div) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SECCommission) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Company’s transfer agent promptly after the Effective Date (as defined below) of the Registration Statement if required by the Company’s transfer agent to effect the sale of Exercise Shares by Holder without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance or resale of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legendslegends and Holder submits proof and proper documentation reasonably satisfactory to the Company and its transfer agent to the conditions in this Section 2(e). The Company agrees that following at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery by the Holder to the Company or the Transfer Agent Company’s transfer agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend and proof and proper documentation reasonably satisfactory to the Company and its transfer agent to the conditions in this Section 2(e), use its commercially reasonable best efforts deliver or cause to cause the Depositary to deliver be delivered to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the a Registration Statement that the Company is required to file with respect to the Warrant Shares pursuant to the Registration Investor Rights Agreement has been declared effective by the SEC, which Securities and Exchange Commission (the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act“Commission”).

Appears in 2 contracts

Samples: Voting Agreement (VirtualScopics, Inc.), Securities Purchase Agreement (VirtualScopics, Inc.)

Removal of Restrictive Legends. The This Note and the certificates evidencing the Conversion Shares (including any Major Transaction Company Shares), as applicable, shall use commercially reasonable best efforts to cause the Depositary to remove not contain any United States legend restricting the transfer thereof (including the United States legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: ): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security the Conversion Shares is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares Note and/or Failure Payment Conversion Shares pursuant to Rule 144 of the Securities Act144, or (C) if such WarrantNote or Conversion Shares, Exercise Shares and/or Failure Payment Shares as the case may be, are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, free of all legends. The Company agrees that following such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery by the Holder to the Company or the Transfer Agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legend, use its commercially reasonable best efforts to cause the Depositary to deliver to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date (as defined below), or at such other time as any of the Unrestricted Conditions have been satisfied, if required by the Transfer Agent Company’s transfer agent to effect the issuance of the Exercise Shares this Note or the Failure Payment Conversion Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If any of the Unrestricted Conditions are met at the time of issuance of any of the Conversion Shares, then such Conversion Shares shall be issued free of all United States legends. The Company agrees that following the Effective Date or at such time as any of the Unrestricted Conditions are met or such United States legend is otherwise no longer required under this Section 2(e), it will, no later than five (5) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Note and a certificate representing Conversion Shares, as applicable, issued with a restrictive United States legend (such third Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Holder this Note and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other United States legends. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 2 contracts

Samples: Registration Rights Agreement (Tribute Pharmaceuticals Canada Inc.), Registration Rights Agreement (Pozen Inc /Nc)

Removal of Restrictive Legends. The Company Exercise Shares shall use commercially reasonable best efforts to cause not contain the Depositary to remove any Securities Legend and no legend (other than the XXX Legends, if required under the Investor Agreements) shall apply, as applicable, restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicablethereof: (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Actwithout volume restriction, or (D) if such legend is transfer restrictions are not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). Upon request to the Company by Holder to remove the Securities Legend from any Exercise Shares or to issue Exercise Shares without the Securities Legend upon exercise of the Warrant, in either case based on an Unrestricted Condition being met, the Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the satisfaction of an Unrestricted Condition if required by the Company’s transfer agent to effect the issuance of the Exercise Shares without such restrictive legend or removal of the legend hereunder, subject, in respect of a legend removal request prior to effectiveness of a registration statement covering the resale of the Warrant Shares, receipt by such counsel of certification of the holder of the Exercise Shares that it is not at such time, and has not been during the previous three month period, an affiliate of the Company (a “Rule 144 Certification”). If the an Unrestricted Conditions are Condition is met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legendslegends (other than any XXX Legends required under the Investor Agreements). The Company agrees that following such time as the an Unrestricted Conditions are Condition is met or such legend is otherwise no longer required under this Section 2(e), it will, upon delivery of a written request to the Company by the holder of the Exercise Shares to remove the Securities Legend based upon an Unrestricted Condition being met, no later than the date (such date, the “Legend Removal Date”) that is the later of (A) three (3) Trading Days (or fifteen (15) Business Days if prior to an IPO Event) following the delivery by the Holder holder to the Company or the Transfer Agent of a certificate representing the Exercise Shares and/or Failure Payment Shares, as applicable, issued with such restrictive legend and (B) if (and only if) a restrictive legendRule 144 Certification is required by the second sentence of this paragraph, use its commercially reasonable best efforts two (2) Business Days after the date of delivery of the Rule 144 Certification to counsel to the Company, deliver or cause the Depositary to deliver be delivered to such Holder holder the Exercise Shares free of all restrictive legends, and/or a certificate confirmation (or electronic transfer) representing confirming in respect of such shares that it is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if legends (other than any XXX Legends then required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities ActInvestor Agreements).

Appears in 2 contracts

Samples: Facility Agreement (Kempharm, Inc), Kempharm, Inc

Removal of Restrictive Legends. The Company Certificates evidencing the Exercise Shares shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i2(g)(i)): (i) following resale of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: (A) such shares while a registration statement (including a the Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (Bii) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (Ciii) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act144(k), or (Div) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SECCommission) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Company’s transfer agent promptly after the Effective Date (as defined below) of the Registration Statement if required by the Company’s transfer agent to effect the sale of Exercise Shares by Holder without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance or resale of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legendslegends and Holder submits proof and proper documentation satisfactory to the Company and its transfer agent to the conditions in this Section 2(g). The Company agrees that following the Effective Date or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e2(g), it will, no later than three (3) Trading Days following the delivery by the Holder to the Company or the Transfer Agent Company’s transfer agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend and proof and proper documentation satisfactory to the Company and its transfer agent to the conditions in this Section 2(g), use its commercially reasonable best efforts deliver or cause to cause the Depositary to deliver be delivered to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which Securities and Exchange Commission (the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act“Commission”).

Appears in 2 contracts

Samples: Voting Agreement (VirtualScopics, Inc.), VirtualScopics, Inc.

Removal of Restrictive Legends. The Company This Warrant, the certificates evidencing the Exercise Shares and any Redemption Shares, as applicable, shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: ): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement, or any Shelf Registration Statement with respect to Redemption Shares, as defined in Section 4(c) below) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Redemption Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Redemption Shares are eligible for sale under Rule 144(b)(1) of the Securities Act144(b)(1)(i), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) and the Company shall have received an opinion of counsel of Holder to such effect (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date (as defined below) if required by the Company’s transfer agent to effect the issuance of the Exercise Shares or any Redemption Shares without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of the this Warrant, Exercise Shares or the Failure Payment and/or Redemption Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Warrant, Exercise Shares or Failure Payment Shares, as applicable, and/or Redemption Shares shall be issued free of all legends. The Company agrees that following the Effective Date or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Warrant and a certificate representing Exercise Shares and/or Failure Payment or Redemption Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement or any Shelf Registration Statement pursuant to Section 4(c) below has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 2 contracts

Samples: Array Biopharma Inc, Array Biopharma Inc

Removal of Restrictive Legends. The Company shall use commercially reasonable best efforts to cause the Depositary to remove any legend restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this This Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: , shall not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Company’s transfer agent to effect the issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Warrant, Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company agrees that following the Effective Date at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Warrant and a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 2 contracts

Samples: Icad Inc, Icad Inc

Removal of Restrictive Legends. The Company certificates evidencing the Exchange Shares shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(iSubsection 3.06(a)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: ): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security Exchange Shares by the Investor is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Exchange Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Exchange Shares are eligible for sale under Rule rule 144(b)(1) of the Securities Act, or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). Each Investor agrees that the removal of the restrictive legend from the Exchange Shares in accordance with the immediately preceding sentence is predicated upon Investor’s reliance that (i) such Investor will dispose of such Exchange Shares pursuant to either the registration requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom, and that if such Exchange Shares are sold pursuant to a registration statement, they will be sold in compliance with the plan of distribution set forth therein. Promptly following the Effective Date (as defined below) or such other time as any of the Unrestricted Conditions have been satisfied, the Company agrees to effect the removal of the legend thereunder. If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Exchange Shares, then the Company Exchange Shares shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, be issued free of all legends. The Company agrees that that, following the Effective Date or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e)3.06, it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder Investor to the Company or the its Transfer Agent of a any certificate representing Exercise Shares and/or Failure Payment Exchange Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder Investor a certificate (or electronic transfer) representing such shares that is Exchange Shares, or, at the request of such Investor deliver or cause to be delivered the Exchange Shares to such Investor’s or its designee’s balance account with DTC through its DWAC system, free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunderlegends and stop transfer instructions. For purposes hereof, “Effective Date” shall mean the date that the first Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Exchange Agreement (Nuo Therapeutics, Inc.)

Removal of Restrictive Legends. The Company shall use commercially reasonable best efforts to cause the Depositary to remove any legend restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this This Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: , shall not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) and the Company shall have received an opinion of counsel to the Holder in form reasonably acceptable to the Company to such effect which, in the case of a so-called “4(1) and a half transaction” shall be in the form attached hereto as Exhibit C (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent if required by the Transfer Agent to effect the issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Warrant, Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company agrees that following at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Warrant and a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Ista Pharmaceuticals Inc

Removal of Restrictive Legends. The Company shall use commercially reasonable best efforts to cause the Depositary to remove any legend restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this This Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: , shall not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if the Unrestricted Conditions have been met or at such other time as the Unrestricted Conditions have been met, if required by the Company’s transfer agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Warrant, Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company agrees that following the Effective Date at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Alphatec Holdings, Inc.

Removal of Restrictive Legends. The Company Certificates evidencing the Exercise Shares shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i2(g)(i)) of this Warrant and the certificates ): (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: (Ai) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities 1933 Act, or (Bii) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (Ciii) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act144, or (Div) if such legend is not otherwise required under applicable requirements of the Securities 1933 Act (including judicial interpretations and pronouncements issued by the staff of the SECSecurities and Exchange Commission (“the Commission”)) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Company’s transfer agent promptly after each Date of Exercise if required by the Company’s transfer agent to effect the issuance of Exercise Shares without a restrictive legend or removal of the legend hereunder if any of the Unrestricted Conditions are met. If the Unrestricted Conditions are met at the time of issuance or resale of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company agrees that following at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e2(g), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent Company’s transfer agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts to the “Legend Removal Date”), deliver, or cause the Depositary Transfer Agent to deliver at the Company’s expense, to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Alternative Construction Company, Inc.

Removal of Restrictive Legends. The This Note and the certificates evidencing the Conversion Shares (including any Major Transaction Company Shares), as applicable, shall use commercially reasonable best efforts to cause the Depositary to remove not contain any United States legend restricting the transfer thereof (including the United States legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: ): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security the Conversion Shares is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares Note and/or Failure Payment Conversion Shares pursuant to Rule 144 of the Securities Act144, or (C) if such WarrantNote or Conversion Shares, Exercise Shares and/or Failure Payment Shares as the case may be, are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, free of all legends. The Company agrees that following such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery by the Holder to the Company or the Transfer Agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legend, use its commercially reasonable best efforts to cause the Depositary to deliver to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date (as defined below), or at such other time as any of the Unrestricted Conditions have been satisfied, if required by the Transfer Agent Company’s transfer agent to effect the issuance of the Exercise Shares this Note or the Failure Payment Conversion Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If any of the Unrestricted Conditions are met at the time of issuance of any of the Conversion Shares, then such Conversion Shares shall be issued free of all United States legends. The Company agrees that following the Effective Date or at such time as any of the Unrestricted Conditions are met or such United States legend is otherwise no longer required under this Section 2(e), it will, no later than five (5) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Note and a certificate representing Conversion Shares, as applicable, issued with a restrictive United States legend (such third Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Holder this Note and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other United States legends. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.Canadian law securities legend shall be removed promptly following , 2016. [INSERT DATE THAT IS 4 MONTHS AND A DAY AFTER THE ISSUANCE DATE]

Appears in 1 contract

Samples: Registration Rights Agreement (Pozen Inc /Nc)

Removal of Restrictive Legends. The Company With respect to any Exercise Shares comprised of shares of Allora Stock (the “Allora Exercise Shares”), certificates evidencing such Allora Exercise Shares shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i2(g)(i)) of this Warrant and the certificates ): (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: (Ai) while a registration statement (including a Registration Statement, Statement as defined in the Registration Rights Agreement) covering the sale or resale of such security securities is effective under the Securities Act, or (Bii) following any sale of such Warrant, Allora Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (Ciii) if such Warrant, Allora Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act144(k), or (Div) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SECCommission) (collectively, the “Unrestricted Conditions”). Exercise Shares comprised of shares of EPOD Stock (the “EPOD Exercise Shares”) shall contain restrictive legends set forth above (as well as any other legends required pursuant to the remaining Transaction Documents) and shall be transferable by the Holder only pursuant to Rule 144 or another exemption from the registration requirements of the Securities Act or applicable state securities laws. Allora shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date (as defined below) of the Registration Statement if required by the Transfer Agent to effect the issuance of Allora Exercise Shares without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance or resale of the Allora Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Allora Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company Allora agrees that following the Effective Date, or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e2(g), it will, no later than three (3) Trading Business Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company Allora or the Transfer Agent of a certificate representing such Allora Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Business Day, use its commercially reasonable best efforts to the “Legend Removal Date”), deliver, or cause the Depositary Transfer Agent to deliver at Allora’s expense, to such Holder a certificate (or electronic transfer) representing such shares Allora Exercise Shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company Allora is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which Securities and Exchange Commission (the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act“Commission”).

Appears in 1 contract

Samples: Allora Minerals, Inc.

Removal of Restrictive Legends. The Company certificates evidencing the New Securities shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(iSubsection (a)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: ): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security New Securities by the Investor is effective under the Securities Act, or (B) following any sale of if the Investor (or other holder) provides the Company with customary paperwork to the effect that it has sold or is selling such Warrant, Exercise Shares and/or Failure Payment Shares New Securities pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act, or (D) if such legend is not no longer required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) as determined in good faith by counsel to the Company or set forth in a legal opinion delivered by Xxxxxx Xxxxxx Xxxxxxxx LLP or other nationally recognized counsel to the Investor (or other holder) (collectively, the “Unrestricted Conditions”). If Each Investor agrees that the removal of the restrictive legend from the New Securities in accordance with the immediately preceding sentence is predicated upon Investor’s reliance that such Investor will dispose of such New Securities pursuant to either the registration requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom, and that if such New Securities are sold pursuant to a registration statement, they will be sold in compliance with the plan of distribution set forth therein. At such time as any of the Unrestricted Conditions are met at have been satisfied, the time of issuance Company agrees to effect the removal of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, free of all legendslegend thereunder. The Company agrees that following that, at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e)hereunder, it will, no later than three two (32) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder Investor to the Company or the its Transfer Agent of a any certificate representing Exercise Shares and/or Failure Payment SharesNew Securities, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder Investor a certificate (or electronic transfer) representing such shares that is New Securities, or, at the request of such Investor deliver or cause to be delivered the New Securities to such Investor’s or its designee’s balance account with DTC through its DWAC system, free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges legends and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Actstop transfer instructions.

Appears in 1 contract

Samples: Recapitalization Agreement (Nuo Therapeutics, Inc.)

Removal of Restrictive Legends. The Company Certificates evidencing the Exercise Shares shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: ): (A) while a registration statement (including a the Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act144(k), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SECCommission) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Company’s transfer agent promptly after the Effective Date if required by the Company’s transfer agent to effect the issuance of Exercise Shares without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company agrees that following the Effective Date or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent Company’s transfer agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective DateEFFECTIVE DATE” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which Securities and Exchange Commission (the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act“Commission”).

Appears in 1 contract

Samples: Avicena Group, Inc.

Removal of Restrictive Legends. The Company shall use commercially reasonable best efforts to cause the Depositary to remove any legend restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: , shall not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)): (A) while pursuant to a sale or disposition pursuant to an effective registration statement (including a Registration Statement, as defined in that is effective at the Registration Rights Agreement) time of such disposition or resale covering the sale disposition or resale of such security is effective under the Securities Actsecurities, or (B) following any sale or disposition of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC), (E) if at the time of Exercise, the Holder has indicated on the Exercise Form its intent to sell or dispose of the shares within three (3) Trading Days pursuant to a currently effective registration statement, or (F) if, following the issuance of any Exercise Shares or Failure Payment Shares and while a registration statement covering the resale of such security is effective under the Securities Act, the Holder requests the removal of such legends via facsimile, electronic mail or regular mail and the Holder indicates in such written communication its intent to sell or dispose of the shares pursuant to a currently effective registration statement in accordance with the Securities Act and applicable securities laws (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Company’s transfer agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder if the applicable Unrestricted Condition(s) are met and if the removal of such legends is in compliance with the Securities Act. If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legendslegends regarding registration under the Securities Act. The Company agrees that following the Effective Date at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Certain Registration Rights Agreement (Pacific Biosciences of California Inc)

Removal of Restrictive Legends. The Company Certificates evidencing the Exercise Shares shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i2(g)(i)): (i) following resale of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: (A) such shares while a registration statement (including a the Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (Bii) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (Ciii) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act144(k), or (Div) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SECCommission) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Company’s transfer agent promptly after the Effective Date (as defined below) of the Registration Statement if required by the Company’s transfer agent to effect the sale of Exercise Shares by Holder without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance or resale of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legendslegends and Holder submits proof and proper documentation satisfactory to the Company and its transfer agent to the conditions in this Section 2(g). The Company agrees that following the Effective Date or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e2(g), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent Company’s transfer agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend and proof and proper documentation satisfactory to the Company and its transfer agent to the conditions in this Section 2(g) (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which Securities and Exchange Commission (the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act“Commission”).

Appears in 1 contract

Samples: VirtualScopics, Inc.

Removal of Restrictive Legends. The This Note and the certificates evidencing the Conversion Shares (including any Major Transaction Company Shares), as applicable, shall use commercially reasonable best efforts to cause the Depositary to remove not contain any United States legend restricting the transfer thereof (including the United States legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: ): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security the Conversion Shares is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares Note and/or Failure Payment Conversion Shares pursuant to Rule 144 of the Securities Act144, or (C) if such WarrantNote or Conversion Shares, Exercise Shares and/or Failure Payment Shares as the case may be, are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, free of all legends. The Company agrees that following such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery by the Holder to the Company or the Transfer Agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legend, use its commercially reasonable best efforts to cause the Depositary to deliver to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date (as defined below), or at such other time as any of the Unrestricted Conditions have been satisfied, if required by the Transfer Agent Company’s transfer agent to effect the issuance of the Exercise Shares this Note or the Failure Payment Conversion Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If any of the Unrestricted Conditions are met at the time of issuance of any of the Conversion Shares, then such Conversion Shares shall be issued free of all United States legends. The Company agrees that following the Effective Date or at such time as any of the Unrestricted Conditions are met or such United States legend is otherwise no longer required under this Section 2(e), it will, no later than five (5) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Note and a certificate representing Conversion Shares, as applicable, issued with a restrictive United States legend (such third Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Holder this Note and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other United States legends. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.Canadian law securities legend shall be removed promptly following ________, 2016. [INSERT DATE THAT IS 4 MONTHS AND A DAY AFTER THE ISSUANCE DATE]

Appears in 1 contract

Samples: Registration Rights Agreement (Tribute Pharmaceuticals Canada Inc.)

Removal of Restrictive Legends. The Company shall use commercially reasonable best efforts to cause the Depositary to remove any legend restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: , shall not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Actor Rule 144A, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Company’s transfer agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Warrant, Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company agrees that following the Effective Date at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Warrant and a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Titan Pharmaceuticals Inc

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Removal of Restrictive Legends. The Company shall use commercially reasonable best efforts to cause the Depositary to remove any legend restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this This Warrant and the certificates (or electronic transferbook entries, if applicable) evidencing the Exercise Shares and the Failure Payment Shares, as applicable, shall not contain or be subject to any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)) or be subject to any stop-transfer instructions: (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) at any time on or after the date hereof on which Holder’s holding period for purposes of Rule 144 under the Securities Act and subsection (d)(3)(iii) thereof with respect to such Warrant, Exercise Shares and/or Failure Payment Shares is at least six (6) months and Holder certifies that it is not an “affiliate” (as defined in Rule 144 under the Securities Act), or (E) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date, or at such other time as any of the Unrestricted Conditions have been met, if required by the Transfer Agent to effect the issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If any of the Unrestricted Conditions are met at the time of issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Warrant, Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legendslegends and stop-transfer instructions. The Company agrees that following the Effective Date, or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three the earlier of (3x) two (2) Trading Days and (y) the number of Trading Days comprising the Standard Settlement Period following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Warrant and a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legend, use its commercially reasonable best efforts deliver or cause to cause the Depositary be delivered to deliver to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunderlegends (and stop transfer instructions). For purposes hereof, “Effective Date” shall mean the date that the first Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Registration Rights Agreement (Endologix Inc /De/)

Removal of Restrictive Legends. The Company certificates (or electronic book entries, if applicable) evidencing the shares issuable upon exercise hereof shall use commercially reasonable best efforts not contain or be subject to cause the Depositary to remove any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i6(a)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicablebe subject to any stop-transfer instructions: (A) while a registration statement (including a Registration Statement, as defined in the Registration Investors’ Rights Agreement (as defined in the December 2020 Exchange Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Warrant Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Warrant Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) at any time on or after the date hereof on which the applicable holding period for purposes of subsection (d)(1) of Rule 144 under the Securities Act with respect to such Warrant Shares has been satisfied and the Holder certifies that it is not an Affiliate of the Company, or (E) if it is reasonably determined by the Company’s counsel that such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SECCommission) (collectively, the “Unrestricted Conditions”). If The Company shall cause the delivery of an instruction letter to the Transfer Agent promptly after the Effective Date (as defined below) or at such earlier time as any of the Unrestricted Conditions are has been met, if required by the Transfer Agent to effect the issuance of the Warrant Shares (or any portion thereof), as applicable, without a restrictive legend or removal of the legend hereunder. If any of the Unrestricted Conditions is met at the time of issuance of the Exercise Shares or the Failure Payment Warrant Shares, then the Company such Warrant Shares shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, be issued free of all legendslegends and stop-transfer instructions. The Company agrees that following at such time as any of the Unrestricted Conditions are is met or such legend is otherwise no longer required under this Section 2(e6(b), it will, no later than three the earlier of (3x) two (2) Trading Days and (y) the number of Trading Days comprising the Standard Settlement Period following the delivery by the Holder to the Company or the Transfer Agent of a certificate representing Exercise Shares and/or Failure Payment Warrant Shares, as applicable, issued with a restrictive legend, use its commercially reasonable best efforts deliver or cause to cause be delivered to the Depositary to deliver to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunderlegends (and stop transfer instructions). For purposes hereof, “Effective Date” shall mean the date that the first Registration Statement that the Company is required to file pursuant to the Registration Rights December 2020 Exchange Agreement has been declared effective by the SECCommission. For the avoidance of doubt, which upon any cashless exercise of this Warrant, the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that an Unrestricted Condition shall have been met and the reissuance Warrant Shares issued in respect of such cashless exercise shall be issued free of all legends and stop transfer instructions so long as the Holder certifies that it is not an Affiliate of the Warrant on Company in connection with such exercise. Notwithstanding anything to the Reissuance Date did contrary contained herein, the Holder shall be deemed to have certified that it is not interrupt or an Affiliate of the Company upon each delivery of a Notice of Exercise, unless the Holder otherwise affect advises the holding period of this Warrant for purposes of Rule 144 under the Securities Act.Company in writing,

Appears in 1 contract

Samples: Kempharm, Inc

Removal of Restrictive Legends. The Company certificates evidencing the Conversion Shares shall use commercially reasonable best efforts to cause not contain the Depositary to remove any Securities Legend and no legend (other than the IA Legends, if required under the Investor Agreements) shall apply restricting the transfer thereof (including the any such legend set forth above in subsection 2(e)(i)) of this Warrant and that the certificates (or electronic transfer) evidencing the Exercise Conversion Shares and shall not so contain or that shall not so apply to the Failure Payment Conversion Shares, as applicable: , a “Removable Legend”): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Conversion Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Conversion Shares are eligible for sale under Rule 144(b)(1) of the Securities Act, without volume restriction or (D) if such legend is transfer restrictions are not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). The Company shall use best efforts to cause its counsel to issue a legal opinion to the Transfer Agent promptly at such time as the Unrestricted Conditions have been satisfied, if required by the Transfer Agent to issue a certificate evidencing the Conversion Shares without the Removable Legends. If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Conversion Shares, then the Company Conversion Shares shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, be issued free of all legendsRemovable Legends. The Company agrees that following such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e)met, it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent Agent, if applicable, of a certificate representing Exercise Conversion Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendthe Removable Legends (such third Trading Day following such delivery, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder one or more certificates evidencing such Conversion Shares that do not contain the Removable Legends and/or a certificate (or electronic transfer) representing confirmation confirming in respect of such shares that is they are free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities ActRemovable Legends.

Appears in 1 contract

Samples: Facility Agreement (Kempharm, Inc)

Removal of Restrictive Legends. The Company This Warrant nor the Warrant Shares, as applicable, shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable6.a: (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares Warrant and/or Failure Payment Warrant Shares pursuant to Rule 144 of the Securities Act144, or (C) if such WarrantWarrant or Warrant Shares, Exercise Shares and/or Failure Payment Shares as the case may be, are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the transfer agent of the Company promptly after the effective date of such registration statement, or at such other time as the Unrestricted Conditions have been satisfied, if required by the Company’s transfer agent to effect the issuance of the Warrant Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Warrant Shares, then the Company Warrant Shares shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, be issued free of all legends. The Company agrees that following the effective date of such registration statement or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e)6.b, it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company of this Warrant or the Transfer Agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Tengion Inc

Removal of Restrictive Legends. The Company shall use commercially reasonable best efforts to cause the Depositary to remove any legend restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this This Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: , shall not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). If the Unrestricted Conditions are met, the Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Company’s transfer agent to effect the issuance of the Exercise Shares or any Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Warrant, Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company agrees that following the Effective Date at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three five (35) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Warrant and a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such fifth Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Cryoport, Inc.

Removal of Restrictive Legends. The Company This Warrant and the certificates (or electronic book entries, if applicable) evidencing the Exercise Shares, as applicable, shall use commercially reasonable best efforts not contain or be subject to cause the Depositary to remove any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicablebe subject to any stop-transfer instructions: (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Warrant and/or Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Warrant and/or Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). If The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date, or at such other time as any of the Unrestricted Conditions have been met, if required by the Transfer Agent to effect the issuance of this Warrant and/or the Exercise Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If any of the Unrestricted Conditions with respect to this Warrant or the Exercise Shares are met at the time of issuance of this Warrant or the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, then such Warrant or Exercise Shares, as applicable, shall be issued free of all legendslegends and stop-transfer instructions. The Company agrees that following the Effective Date, or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than the earlier of (x) three (3) Trading Days and (y) the number of Trading Days comprising the Standard Settlement Period following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Warrant and a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares legends (or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereundersimilar notations). For purposes hereof, “Effective Date” shall mean the date that the first Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Nuo Therapeutics, Inc.

Removal of Restrictive Legends. The Company This Warrant and certificates evidencing the Exercise Shares and Additional Shares shall use commercially reasonable best efforts not be required to cause the Depositary to remove contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: ): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Additional Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Additional Shares are eligible for sale under Rule 144(b)(1) of the Securities Act144(k), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). Subject to Section 2(e)(iii), the Company shall use best efforts to take all actions necessary to effect the issuance of this Warrant, Exercise Shares and Additional Shares without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of the this Warrant, Exercise Shares or the Failure Payment and/or Additional Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Warrant, Exercise Shares or Failure Payment Shares, as applicable, and/or Additional Shares shall be issued free of all legends. The Company agrees that following the Effective Date or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of a certificate this Warrant and any certificates representing Exercise Shares and/or Failure Payment and Additional Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file files pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Dynavax Technologies Corp

Removal of Restrictive Legends. The Company This Warrant and the Exercise Shares and the Failure Payment Shares, as applicable, shall use commercially reasonable best efforts not contain or be subject to cause (and the Depositary Holder shall be entitled to remove removal of) any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicableshall not be subject to any stop-transfer instructions: (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) upon request by the Holder, following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of as set forth in customary non-affiliate certifications provided by the Securities Act, Holder or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) at any time on or after the date hereof that the Holder certifies in writing to the Company that (1) it is not an “affiliate” of the Company (as such term is used under Rule 144 pursuant to the Securities Act) and (2) the Holder’s holding period for purposes of Rule 144 and subsection (d)(3)(iii) thereof with respect to such Warrant, Exercise Shares and/or Failure Payment Shares has been at least six months, or (E) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, free of all legends. The Company agrees that following such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery by the Holder to the Company or the Transfer Agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legend, use its commercially reasonable best efforts to cause the Depositary to deliver to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue deliver a legal opinion to the Transfer Agent promptly after the Effective Date (as defined below), or at such other time as any of the Unrestricted Conditions have been met, if required by the Transfer Agent to effect the issuance of this Warrant or the applicable Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant hereunder to the Registration Rights Agreement has been declared effective by extent required or requested as set forth in the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012immediately following two sentences. The Company further hereby acknowledges and agrees that the reissuance If any of the Warrant on Unrestricted Conditions are met at the Reissuance Date did not interrupt or otherwise affect the holding period time of issuance of this Warrant for purposes of Rule 144 under Warrant, the Securities Act.Exercise Shares or

Appears in 1 contract

Samples: Registration Rights Agreement (Sunpower Corp)

Removal of Restrictive Legends. The Company Certificates evidencing the Exercise Shares shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates Subsection 1.3(e)(i): (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: (Ai) while a registration statement (including a the Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (Bii) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (Ciii) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act144(k), or (Div) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SECCommission) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Company’s transfer agent promptly after the Effective Date (as defined below) of the Registration Statement if required by the Company’s transfer agent to effect the issuance of Exercise Shares without a restrictive legend or removal of the legend hereunder. If the Unrestricted Conditions are met at the time of issuance of the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company agrees that following the Effective Date or at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent Company’s transfer agent of a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which Securities and Exchange Commission (the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act“Commission”).

Appears in 1 contract

Samples: Phytomedical Technologies Inc

Removal of Restrictive Legends. The Company shall use commercially reasonable best efforts to cause the Depositary to remove any legend restricting the transfer (including the legend set forth above in subsection 2(e)(i)) of this This Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: , shall not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares and/or Failure Payment Shares pursuant to Rule 144 of the Securities Act144, or (C) if such Warrant, Exercise Shares and/or Failure Payment Shares are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) and the Company shall have received an opinion of counsel of the Holder to such effect (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date, or at such other time as the Unrestricted Conditions have been met, if required by the Transfer Agent to effect the issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legends required hereunder, provided, however, that in connection with a legend removal request arising under clause (C) or (D) above, the Holder shall deliver to the Company a letter, signature guaranteed, substantially in the form of Exhibit D. If the Unrestricted Conditions are met at the time of issuance of this Warrant, the Exercise Shares or the Failure Payment Shares, then the Company shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, shall be issued free of all legends. The Company agrees that following the Effective Date at such time as the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three (3) Trading Business Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Warrant and a certificate representing Exercise Shares and/or Failure Payment Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Warrant and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement Statement, that the Company is required to file pursuant to the Registration Rights Agreement Agreement, has been declared effective by the SEC. Notwithstanding the foregoing, in the event that for any reason the Unrestricted Conditions shall cease to apply to this Warrant, the Exercise Shares or the Failure Payment Shares, then upon notice provided by the Company to the Holder to such effect, the Holder shall promptly return the applicable certificates for this Warrant, the Exercise Shares or the Failure Payment Shares to the Transfer Agent, which shall re-issue such certificates bearing the Company hereby acknowledges legends contemplated in Section 2(e)(i), and agrees occurred such legends shall remain on October 1, 2012. The Company further hereby acknowledges and agrees that such certificates for so long as the reissuance of the Warrant on the Reissuance Date did Unrestricted Conditions continue to not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Actbe met.

Appears in 1 contract

Samples: Facility Agreement (IMRIS Inc.)

Removal of Restrictive Legends. The This Note and the certificates evidencing the Conversion Shares (including any Major Transaction Company Shares), as applicable, shall use commercially reasonable best efforts to cause the Depositary to remove not contain any legend restricting the transfer thereof (including the legend set forth above in subsection 2(e)(i)) of this Warrant and the certificates (or electronic transfer) evidencing the Exercise Shares and the Failure Payment Shares, as applicable: ): (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of such security the Conversion Shares is effective under the Securities Act, or (B) following any sale of such Warrant, Exercise Shares Note and/or Failure Payment Conversion Shares pursuant to Rule 144 of the Securities Act144, or (C) if such WarrantNote or Conversion Shares, Exercise Shares and/or Failure Payment Shares as the case may be, are eligible for sale under Rule 144(b)(1) of the Securities Act), or (D) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date (as defined below), or at such other time as any of the Unrestricted Conditions have been satisfied, if required by the Company’s transfer agent to effect the issuance of this Note or the Conversion Shares, as applicable, without a restrictive legend or removal of the legend hereunder. If any of the Unrestricted Conditions are met at the time of issuance of any of the Exercise Shares or the Failure Payment Conversion Shares, then the Company such Conversion Shares shall use commercially reasonable best efforts to cause the Depositary to issue such Exercise Shares or Failure Payment Shares, as applicable, be issued free of all legends. The Company agrees that following the Effective Date or at such time as any of the Unrestricted Conditions are met or such legend is otherwise no longer required under this Section 2(e), it will, no later than three five (35) Trading Days following the delivery (the “Unlegended Shares Delivery Deadline”) by the Holder to the Company or the Transfer Agent of this Note and a certificate representing Exercise Shares and/or Failure Payment Conversion Shares, as applicable, issued with a restrictive legendlegend (such third Trading Day, use its commercially reasonable best efforts the “Legend Removal Date”), deliver or cause to cause the Depositary to deliver be delivered to such Holder this Note and/or a certificate (or electronic transfer) representing such shares that is free from all restrictive and other legends. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the issuance of the Exercise Shares or the Failure Payment Shares, as applicable, without a restrictive legend or removal of the legend hereunder. For purposes hereof, “Effective Date” shall mean the date that the Registration Statement that the Company is required to file pursuant to the Registration Rights Agreement has been declared effective by the SEC, which the Company hereby acknowledges and agrees occurred on October 1, 2012. The Company further hereby acknowledges and agrees that the reissuance of the Warrant on the Reissuance Date did not interrupt or otherwise affect the holding period of this Warrant for purposes of Rule 144 under the Securities Act.

Appears in 1 contract

Samples: Facility Agreement (Pozen Inc /Nc)

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