Common use of Termination of Information and Observer Rights Clause in Contracts

Termination of Information and Observer Rights. The covenants set forth in Sections 3.1, 3.2 and 3.3 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Restated Certificate or other Sale of the Company (as defined in the Voting Agreement); provided, that, with respect to (iii), the covenants set forth in Sections 3.1 and 3.2 shall only terminate if the consideration received by the Holders in such Deemed Liquidation Event or other Sale of the Company is in the form of cash and/or marketable securities unless the Holders receive financial information and inspection rights from the acquiring company or other successor to the Company comparable to those set forth in Sections 3.1 and 3.2, whichever event occurs first.

Termination of Information and Observer Rights. The covenants set forth in Sections Section 3.1, Section 3.2 and Section 3.3 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, ; (ii) when the Company (or its successor or acquirer) first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, ; or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Restated Certificate or other Sale of the Company (as defined in the Voting Agreement)Incorporation, whichever event occurs first; provided, provided that, with respect to clause (iii), the covenants set forth in Sections Section 3.1 and 3.2 shall only terminate if the consideration received by the Holders Investors in such Deemed Liquidation Event or other Sale of the Company is in the form of cash and/or marketable publicly traded securities unless or if the Holders Investors receive financial information and inspection rights from the acquiring company or other successor to the Company comparable to those that set forth in Sections 3.1 and 3.2, whichever event occurs firstSection 3.1.