Common use of Repurchase Obligation Clause in Contracts

Repurchase Obligation. Notwithstanding any other provisions in this Agreement to the contrary, if for any reason a registration statement which includes the Registerable Securities is not declared effective on or before January 31, 2002, persons holding a majority of the Registerable Securities may, upon 30-days' prior written notice, require the Company to withdraw the registration statement. Following such withdrawal of the registration statement, any Holder of Registerable Securities may require the Company to repurchase such Registerable Securities. The repurchase price per share shall be equal to the average daily closing price of the Common Stock from the date of this Agreement until January 31, 2002.