Common use of Right to Demand; Demand Notices Clause in Contracts

Right to Demand; Demand Notices. Subject to the terms of ------------------------------- this Agreement, in the event the Company shall receive from the Stockholders holding Common Shares representing an aggregate of at least 10% of the then outstanding Registrable Securities (the "Initiating Holders") at any time and from time to time commencing after an Initial Public Offering, a written request that the Company effect a Registration (a "Demand Registration"), the reasonably anticipated aggregate price to the public of which would be at least $35,000,000, the Company shall (a) promptly give written notice of the proposed Registration to all other Stockholders, and (b) as soon as practicable, use its best efforts to effect Registration of the Registrable Securities specified in such request, together with any Registrable Securities of any Stockholder joining in such request as are specified in a written request given within twenty (20) days after written notice from the Company of the proposed Registration. Notwithstanding the foregoing, the Company shall not be obligated to take any action to effect any such Registration pursuant to this Section 2(a) (i) unless Stockholders holding Common Shares representing an aggregate of at least 34% of the Registrable Securities then outstanding elect to participate in such Demand Registration, or (ii) after the Company has effected three (3) such Registrations pursuant to this Section 2(a) and such Registrations have been declared effective; provided, however, that one Stockholder may not request more than one Demand Registration that is effected.