Termination of Financial Information Rights. The Company's obligation to deliver the financial statements under Sections 1.1 and 1.2 shall terminate and shall be of no further force or effect when a public market first exists for any of the Company's securities. Thereafter, the Company shall deliver to each Investor, and its assignee or transferee, such financial information as the Company from time to time provides to holders of its Common Stock.
Termination of Financial Information Rights. The Company’s obligation to deliver the financial statements and other information under Sections 1.1 and 1.2 shall terminate and shall be of no further force or effect upon the earlier to occur of: (i) the closing of the Company’s initial firmly underwritten public offering of its Common Stock pursuant to an effective registration statement under the United States Securities Act of 1933, as amended (the “Securities Act”) or equivalent law of another jurisdiction yielding net proceeds to the Company of at least $20,000,000 at a per share price of at least US $6.3711 (subject to adjustment in the event of any stock dividend, stock split, combination of shares, reorganization, recapitalization, reclassification or other similar event affecting the Common Stock), or (ii) with respect to a certain Investor, such time as the shareholdings of such Investor, together with its Affiliates (as defined in Section 5.3 below), in the Company fall below five percent (5%) of the Company’s fully diluted share capital; provided, however, that the Company’s obligation to deliver the monthly statements required under Sections 1.1.3 above shall terminate and be of no further force or effect upon the closing of the Company’s initial firmly underwritten public offering of its Common Stock pursuant to an effective registration statement under the Securities Act or equivalent law of another jurisdiction (an “IPO”). Thereafter, the Company shall deliver to the Investors, and its assignees or transferees, such financial information as the Company from time to time provides to other holders of its shares.
Termination of Financial Information Rights of the Original ------------------------------------------- Agreement is hereby amended to delete the term "Series C" and substitute therefor the term "Series D".
Termination of Financial Information Rights. The Company's ------------------------------------------- obligation to deliver information under Section 2.1(i), (ii) and (iii) hereof shall terminate and shall be of no further force or effect upon the earlier to occur of (x) the closing of an underwritten public offering pursuant to an effective registration statement under the Securities Act, covering the offer and sale of Common Stock for the account of the Company and/or selling shareholders to the public at a price per share of not less than three times the Series B Original Cost (as such term is defined in the Restated Certificate) (adjusted for any combinations, consolidation, stock splits, or stock distributions or dividends with respect to such shares) and resulting in aggregate net proceeds to the Company of not less than $15,000,000, and (y) the date all Holders of Preferred Shares hold fewer than 20% of the Preferred Shares issued pursuant to the Restated Certificate and/or Conversion Stock in the aggregate. Thereafter, the Company shall deliver to each Holder, and its assignees or transferees, such financial information as the Company from time to time provides to holders of its Common Stock.
Termination of Financial Information Rights. Section 2.3 of the Original Agreement is hereby amended to delete the term "Series B" and the number "$15,000,000" therein and substitute therefor the term "Series C" and the number "$30,000,000," respectively.
Termination of Financial Information Rights. The Company's obligation to deliver the financial statements and other information under Sections 1.1 and 1.2 shall terminate and shall be of no further force or effect upon the earlier of (i) the consummation of the closing of the Company's initial firmly underwritten public offering of its Ordinary Shares pursuant to an effective registration statement under the United States Securities Act of 1933, as amended (the “Securities Act”), or equivalent law of another jurisdiction (the “IPO”) [PERHAPS THIS SHOULD BE QIPO]; and (ii) the consummation of any consolidation or merger of the Company with or into a third party, pursuant to which the Company's shareholders immediately prior to such transaction own less than fifty percent (50%) of the voting securities of the surviving entity immediately after the consummation of such transaction, or the consummation of a sale of all or substantially all of the Company’s shares to any third party. Thereafter, the Company shall deliver to the Investors, and its assignees or transferees, such financial information as the Company from time to time provides to other holders of its shares and as required by applicable law.
Termination of Financial Information Rights. The Company's obligation to deliver the financial statements and other information under Sections 7.2 and 7.3 shall terminate and shall be of no further force or effect upon the closing of the IPO of the Company. Thereafter, the Company shall deliver to Purchaser such financial information as the Company from time to time provides to other holders of its shares; provided, that the Company's obligations under Sections 7.2 and 7.3 shall be restored if the Company subsequently ceases to be subject to the informal and reporting requirements of the relevant countries' or states' securities law. Notwithstanding the above, the Company's obligation to deliver the financial statements and other information under Sections 7.2.3 shall terminate and shall be of no further force or effect upon the Purchaser's holdings in the Company (shares and/or warrants and/or options, in on an as converted basis) being reduce to less than 5%.
Termination of Financial Information Rights. The Company’s obligations under Sections 1.1 and 1.2 shall terminate and shall be of no further force or effect upon the earliest to occur of (i) the closing of the Company’s IPO (as defined below), (ii) the date on which the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the 1934 Act (as defined below), or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company's Articles of Association (the “Articles”).
Termination of Financial Information Rights. The Company's obligation to deliver the financial statements and other information under Section 1.1 shall terminate and shall be of no further force or effect upon the closing of the Company's initial firmly underwritten public offering of its Ordinary Shares pursuant to an effective registration statement under the United States Securities Act of 1933, as amended (the "Securities Act"), or equivalent law of another jurisdiction, at a price per share of not less than six United States Dollars and ninety nine cents ($6.99) (adjusted for share combination or subdivision or other recapitalization of the Company's shares) with net proceeds to the Company of not less than seven million five hundred thousand United States Dollars ($7,500,000) (the "IPO"). Thereafter, the Company shall deliver to the Investors, and its assignees or transferees, such financial information as the Company from time to time provides to other holders of its shares.
Termination of Financial Information Rights. (a) The Company’s obligation to deliver the financial statements and other information under Clauses 7.1 and 7.2, as well as the Investors’ inspection rights as contained in Clause 7.4, shall terminate and shall be of no further force or effect, regardless of the Investors’ shareholding in the Company, upon a Qualified Initial Public Offering.
(b) Subsequent to such Qualified Initial Public Offering, for as long as any Investor or its assignees or transferees continue to hold any Shares of the Company, the Company shall deliver to such Investor and such assignees or transferees, copies of (i) annual reports to Shareholders;
