Common use of Sales by Cerro Entities Clause in Contracts

Sales by Cerro Entities. During the Second Six-Month Period, each of the Cerro Entities shall have the right to effect sales of Registrable Securities included in the Shelf Registration Statement in any manner contemplated in the Plan of Distribution; provided, however, that the Cerro Entities may not sell more than 1,000,000 Registrable Securities in the aggregate per calendar month (such 1,000,000 to be adjusted proportionately to reflect any stock dividend, stock split, reclassification, reorganization, recapitalization, distribution or other similar event in respect of the Shares). If the Cerro Entities desire to sell more than 1,000,000 Registrable Securities in the aggregate in any calendar month pursuant to this Section 3(d), Cerro shall determine as between the Cerro Entities which of such Registrable Securities may be sold. The Company shall not have any obligation to enter into any underwriting agreements or to arrange, prepare for, or participate in, any "road show" presentations or any other selling efforts in connection with, or any obligation otherwise with respect to, any offerings of its securities that may be effected by any Cerro Entity following the expiration of the Initial Six-Month Period.

Sales by Cerro Entities. During the Second Six-Month Period, each of the Cerro Entities shall have the right to effect sales of Registrable Securities included in the Shelf Registration Statement in any manner contemplated in the Plan of Distribution; provided, however, that the Cerro Entities may not sell more than 1,000,000 Registrable Securities in the aggregate per calendar month (such 1,000,000 to be adjusted proportionately to reflect any stock dividend, stock split, reclassification, reorganization, recapitalization, distribution or other similar event in respect of the Shares). If the Cerro Entities desire to sell more than 1,000,000 Registrable Securities in the aggregate in any calendar month pursuant to this Section 3(d), Cerro shall determine as between the Cerro Entities which of such Registrable Securities may be sold. The Company shall not have any obligation to enter into any underwriting agreements or to arrange, prepare for, or participate in, any "“road show" ” presentations or any other selling efforts in connection with, or any obligation otherwise with respect to, any offerings of its securities that may be effected by any Cerro Entity following the expiration of the Initial Six-Month Period.