TERMINATION; FURTHER REGISTRATION RIGHTS. Notwithstanding any other term or provision of this Article V, at such time as any Purchaser or transferee owning less than 2% of the outstanding Common Stock of the Company (on an as-converted basis) is free to sell the Registrable Shares without registration pursuant to Rule 144(k) of the Securities Act, all rights of such Purchaser as to such Registrable Shares under Sections 5.01, 5.02 and 5.03 of this Article V shall terminate. The Company shall not grant to any third party any registration rights so long as any of the registration rights under this Agreement remains in effect without the consent of the holders of 60% of the then outstanding Registrable Shares.
Appears in 4 contracts
Samples: Preferred Stock Purchase Agreement (Chemgenics Pharmaceuticals Inc), Confidentiality Agreement (Chemgenics Pharmaceuticals Inc), Preferred Stock Purchase Agreement (Chemgenics Pharmaceuticals Inc)
TERMINATION; FURTHER REGISTRATION RIGHTS. Notwithstanding any other term or provision of this Article V, at such time as any Purchaser or transferee owning less than 2% of the outstanding Common Stock of the Company (on an as-converted basis) is free to sell the Registrable Shares without registration pursuant to Rule 144(k) of the Securities Act, all rights and obligations of such Purchaser as to such Registrable Shares under Sections 5.01, 5.02 and 5.03 of this Article V shall terminate. The Company shall not grant to any third party any registration rights so long as any of the registration rights under this Agreement remains in effect without the consent of the holders of 60% of the then outstanding Registrable Shares.
Appears in 1 contract
Samples: Preferred Stock Purchase Agreement (Chemgenics Pharmaceuticals Inc)
