Common use of Required Delays Clause in Contracts

Required Delays. Notwithstanding anything contained in this Section 2.1 to the contrary, if any request for Demand Registration is delivered at a time when (i) a Demand Registration has become effective in the previous 90 days, (ii) the Company has filed a Registration Statement with respect to an underwritten primary registration of Common Stock on behalf of the Company that has become effective in the previous 90 days or has determined or is currently planning (and the Board has approved or is expected to approve such determination or plan) to file such a Registration Statement (so long as a Registration Statement is filed with respect thereto within one month of the Stockholder’s or Stockholders’ request for Demand Registration), in which case the Company may require the Stockholder or Stockholders to postpone such request until the expiration of the 90-day period following the effective date of such registration; or (iii) in the opinion of a majority of the Board, such registration would (x) require premature disclosure of material information that the Company has a valid reason for preserving as confidential and such disclosure would materially and adversely affect the Company, (y) render the Company unable to comply with the requirements of the Securities Act or Exchange Act, or (z) adversely affect a material acquisition, disposition, merger or other similar material transaction involving the Company, or otherwise materially and adversely affect the Company or the market for the Company’s Common Stock (it being understood that the ordinary effect of a Demand Registration on the market for securities does not meet the foregoing standard) (any of the foregoing, a “Material Event Postponement”), the Company, with the prior authorization of the Board, may require the Stockholder to postpone such request for an appropriate period (not to exceed 90 days in any 12 month period); provided, however, that the Company may not require such a postponement more than one time for the conditions described in clauses (i) or (ii) above in any 12 month period. In the event of a Material Event Postponement, the Company shall use its reasonable best efforts to effect such registration as promptly as possible after removal of the reasons for the Material Event Postponement.

Required Delays. Notwithstanding anything contained in this --------------- Section 2.1 to the contrary, if any request for Demand Registration is delivered at a time when (i) a Demand Registration has become effective in the previous 90 days, (ii) the Company has filed determined or is currently planning (and has discussed with its Board of Directors its plan) to file a Registration Statement with respect to an underwritten primary registration of Common Stock on behalf of the Company that has become effective in the previous 90 days or has determined or is currently planning (and the Board has approved or is expected to approve such determination or plan) to file such a Registration Statement (so long as a Registration Statement is filed with respect thereto within one month of the Stockholder’s Holder's or Stockholders’ Holders' request for Demand Registration), in which case the Company may require the Stockholder Holder or Stockholders Holders to postpone such request until the sooner of the expiration of the 90-day period following the effective date of such registration; registration or (iii) in six months from the opinion of a majority day of the BoardHolder's or Holders' request for such Demand Registration; and, provided further, -------- ------- however, that if such request is delivered at a time when such registration ------- would (x) require premature disclosure of material information that the Company has a valid reason for preserving as confidential and such disclosure would materially and adversely affect the Company, (y) render the Company unable to comply with the requirements of the Securities Act or Exchange Act, or (z) adversely affect a material acquisition, disposition, acquisition or merger or other similar material transaction involving to which the CompanyCompany is a party, or otherwise materially and adversely affect the Company or the market for the Company’s 's Common Stock (it being understood that the ordinary effect of a Demand Registration on the market for securities does not meet the foregoing standard) (any of the foregoing, a “"Material Event Postponement”"), the Company, with the prior authorization of the Board, Company may require the Stockholder Holder to postpone such request for an appropriate period (not to exceed 90 consecutive days (with a 30-day break between any two consecutive periods) or 180 days in any 12 12-month period); provided, however, that the Company may not require such a postponement more than one time for the conditions described in clauses (i) or (ii) above in any 12 month period. In the event of a Material Event Postponement, the Company shall use its reasonable best efforts to deliver a certificate signed by the President or the Chairman confirming the Company's reasons for postponing the registration and will effect such registration as promptly as possible after removal of such reasons, and if requested by the reasons for demanding Holder, shall prepare a registration statement during the pendency of such postponement so that the registration statement may be filed as soon as practicable following a resolution of the circumstance giving rise to such Material Event Postponement.

Required Delays. Notwithstanding anything contained in this --------------- Section 2.1 to the contrary, if any request for Demand Registration is delivered at a time when (i) a Demand Registration has become effective in the previous 90 days, (ii) the Company has filed determined or is currently planning (and has discussed with its Board of Directors its plan) to file a Registration Statement with respect to an underwritten primary registration of Common Stock on behalf of the Company that has become effective in the previous 90 days or has determined or is currently planning (and the Board has approved or is expected to approve such determination or plan) to file such a Registration Statement (so long as a Registration Statement is filed with respect thereto within one month of the Stockholder’s Holder's or Stockholders’ Holders' request for Demand Registration), in which case the Company may require the Stockholder Holder or Stockholders Holders to postpone such request until the sooner of the expiration of the 90-day period following the effective date of such registration; registration or (iii) in six months from the opinion of a majority day of the BoardHolder's or Holders' request for such Demand Registration; and, provided further, ---------------- however, that if such request is delivered at a time when such registration ------- would (x) require premature disclosure of material information that the Company has a valid reason for preserving as confidential and such disclosure would materially and adversely affect the Company, (y) render the Company unable to comply with the requirements of the Securities Act or Exchange Act, or (z) adversely affect a material acquisition, disposition, acquisition or merger or other similar material transaction involving to which the CompanyCompany is a party, or otherwise materially and adversely affect the Company or the market for the Company’s 's Common Stock (it being understood that the ordinary effect of a Demand Registration on the market for securities does not meet the foregoing standard) (any of the foregoing, a “"Material Event Postponement”"), the Company, with the prior authorization of the Board, Company may require the Stockholder Holder to postpone such request for an appropriate period (not to exceed 90 consecutive days (with a 30-day break between any two consecutive periods) or 180 days in any 12 12-month period); provided, however, that the Company may not require such a postponement more than one time for the conditions described in clauses (i) or (ii) above in any 12 month period. In the event of a Material Event Postponement, the Company shall use its reasonable best efforts to deliver a certificate signed by the President or the Chairman confirming the Company's reasons for postponing the registration and will effect such registration as promptly as possible after removal of such reasons, and if requested by the reasons for demanding Holder, shall prepare a registration statement during the pendency of such postponement so that the registration statement may be filed as soon as practicable following a resolution of the circumstance giving rise to such Material Event Postponement.