Common use of Transfer or Assignment of Rights Clause in Contracts

Transfer or Assignment of Rights. The rights to cause the Company to register securities granted to a Holder by the Company under this Section 3 may be transferred or assigned by a Holder only to a transferee or assignee who, after such transfer, holds at least 100,000 shares of Registrable Securities (as presently constituted and subject to subsequent adjustments for stock splits, stock dividends, reverse stock splits, and similar reclassifications affecting the Company's equity securities); provided that (i) such Holder gives the Company written notice at least 10 days prior to such transfer or assignment, stating the name and address of the transferee or assignee and identifying the securities with respect to which such registration rights are being transferred or assigned and (ii) the Company provides such Holder with written notice of its approval of such transfer or assignment within 10 days of its receipt of such notice; and, provided, further, that the transferee or assignee of such rights assumes in writing the obligations of such Holder under this Section 3.