Common use of Suspension of Disposition of Shares Clause in Contracts

Suspension of Disposition of Shares. Shareholder agrees that, upon receipt of any notice from the Company, of (a) the happening of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, (b) any requests by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information, (c) the issuance of any stop order suspending the effectiveness of the registration statement, (d) the information in the registration statement no longer being sufficient to permit continued sales under the registration statement, or (e) the receipt by the Company of any notification with respect to the suspension of the qualification of the Shares for sale in any jurisdiction, Shareholder will forthwith discontinue disposition of the Shares until the Company notifies the Shareholder in writing that sales of Shares may continue. If so directed by the Company, such Shareholder will deliver to the Company (at the expense of the Company) all copies, other than permanent file copies then in such Shareholder's possession, of the prospectus covering such Shares current at the time of receipt of such notice.

Appears in 3 contracts

Samples: Series D Preferred Registration Rights Agreement (Summus Inc Usa), Preferred Registration Rights Agreement (Summus Inc Usa), Series E Preferred Registration Rights Agreement (Summus Inc Usa)

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Suspension of Disposition of Shares. Selling Shareholder agrees that, upon receipt of any notice from the Company, of (a) the happening of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, (b) any requests by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information, (c) the issuance of any stop order suspending the effectiveness of the registration statement, (d) the information in the registration statement no longer being sufficient to permit continued sales under the registration statement, or (e) the receipt by the Company of any notification with respect to the suspension of the qualification of the Shares for sale in any jurisdiction, Selling Shareholder will forthwith discontinue disposition of the Shares until the Company notifies the Selling Shareholder in writing that sales of Shares may continue. If so directed by the Company, such Selling Shareholder will deliver to the Company (at the expense of the Company) all copies, other than permanent file copies then in such Selling Shareholder's possession, of the prospectus covering such Shares current at the time of receipt of such notice.

Appears in 2 contracts

Samples: Selling Shareholder Agreement (High Speed Net Solutions Inc), Selling Shareholder Agreement (High Speed Net Solutions Inc)

Suspension of Disposition of Shares. Shareholder The Holder agrees that, upon receipt of any notice from the Company, of (a) the happening of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, (b) any requests by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information, (c) the issuance of any stop order suspending the effectiveness of the registration statement, (d) the information in the registration statement no longer being sufficient to permit continued sales under the registration statement, or (e) the receipt by the Company of any notification with respect to the suspension of the qualification of the Shares Registrable Securities for sale in any jurisdiction, Shareholder the Holder will forthwith discontinue disposition of the Shares Registrable Securities until the Company notifies the Shareholder Holder in writing that sales of Shares Registrable Securities may continue. If so directed by the Company, such Shareholder Holder will deliver to the Company (at the expense of the Company) all copies, other than permanent file copies then in such Shareholder's the Holder’s possession, of the prospectus covering such Shares current Registrable Securities at the time of receipt of such notice.

Appears in 1 contract

Samples: Registration Rights Agreement (Fibernet Telecom Group Inc\)

Suspension of Disposition of Shares. Selling Shareholder agrees that, upon receipt of any notice from the Company, of (a) the happening of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, (b) any requests by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information, (c) the issuance of any stop order suspending the effectiveness of the registration statement, (d) the information in the registration statement no longer being sufficient to permit continued sales under the registration statement, or (e) the receipt by the Company of any notification with respect to the suspension of the qualification of the Shares for sale in any jurisdiction, Selling Shareholder will forthwith discontinue disposition of the Shares until the Company notifies the Selling Shareholder in writing that sales of Shares may continue. If so directed by the Company, such Selling Shareholder will deliver to the Company (at the expense of the Company) all copies, other than permanent file copies then in such Selling Shareholder's ’s possession, of the prospectus covering such Shares current at the time of receipt of such notice.

Appears in 1 contract

Samples: Selling Shareholder Agreement (High Speed Net Solutions Inc)

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Suspension of Disposition of Shares. Shareholder Holder agrees that, upon receipt of any notice from the Company, of (a) the happening of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, (b) any requests by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information, (c) the issuance of any stop order suspending the effectiveness of the registration statement, (d) the information in the registration statement no longer being sufficient to permit continued sales under the registration statement, or (e) the receipt by the Company of any notification with respect to the suspension of the qualification of the shares of Common Stock or the Convertible Shares for sale in any jurisdiction, Shareholder Holder will forthwith discontinue disposition of the shares of Common Stock or Convertible Shares until the Company notifies the Shareholder Holder in writing that such sales of Shares may continue. If so directed by the Company, such Shareholder Holder will deliver to the Company (at the expense of the Company) all copies, other than permanent file copies then in such ShareholderHolder's possession, of the prospectus covering such shares of Common Stock or Convertible Shares current at the time of receipt of such notice.

Appears in 1 contract

Samples: Senior Debt Registration Rights Agreement (Summus Inc Usa)

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