Common use of Termination of Information and Inspection Covenants Clause in Contracts

Termination of Information and Inspection Covenants. The covenants set forth in subsections 2.1(c) and (d) and Section 2.2 shall terminate as to Investors and be of no further force or effect when the sale of securities pursuant to a registration statement filed by the Company under the Act in connection with the firm commitment underwritten offering of its securities raising at least $20,000,000 to the general public is consummated or when the Company first becomes subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the 1934 Act, whichever event shall first occur.

Termination of Information and Inspection Covenants. The covenants set forth in subsections 2.1(c), (d) and (df) and Section 2.2 shall terminate as to Investors and be of no further force or effect when the sale of securities pursuant to a registration statement filed by the Company under the Act in connection with the firm commitment underwritten offering of its securities raising at least $20,000,000 to the general public is consummated or when the Company first becomes subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the 1934 Act, whichever event shall first occur.

Termination of Information and Inspection Covenants. The covenants set forth in subsections 2.1(c) and (d) Section 2.1, Section 2.2, Section 2.4, Section 2.5 and Section 2.2 2.6 shall terminate as to the Investors and the Founders and be of no further force or effect when the sale of securities pursuant to a registration statement filed by the Company under the Act in connection with the firm commitment underwritten offering of its securities raising at least $20,000,000 to the general public is consummated or when the Company first becomes subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the 1934 Act, whichever event shall first occur.