Common use of Underwriting Procedures Clause in Contracts

Underwriting Procedures. If the holder or holders of a majority of the aggregate outstanding shares of Registrable Securities to be registered pursuant to a Demand Registration so elect, the offering of such issue of Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering and the managing underwriter or underwriters selected for such offering shall be the Approved Underwriter. In such event, if the Approved Underwriter advises Packaging Dynamics in writing that in its opinion the aggregate amount of Registrable Securities requested to be included in such offering is sufficiently large as to have a material adverse effect on the success of such offering, Packaging Dynamics shall include in such registration only the aggregate amount of Registrable Securities that, in the opinion of the Approved Underwriter, may be sold without any such material adverse effect, which amount of Common Stock shall be allocated first to the Holders who have requested to be included in such offering pro rata on the basis of the number of Registrable Securities requested to be registered thereby and second as to the Company and any other holders of Common Stock.

Underwriting Procedures. If the holder or holders of a majority of the aggregate outstanding shares of Registrable Securities to be registered pursuant to a Demand Shelf Registration so elect, the offering of such issue of Registrable Securities pursuant to such Demand a Shelf Registration shall be in the form of an underwritten offering and the managing underwriter or underwriters selected for such offering shall be the Approved UnderwriterUnderwriter (as defined below). In such event, if the Approved Underwriter advises Packaging Dynamics in writing that in its opinion the aggregate amount of Registrable Securities requested to be included in such offering is sufficiently large as to have a material adverse effect on the success of such offering, Packaging Dynamics shall include in such registration only the aggregate amount of Registrable Securities that, in the opinion of the Approved Underwriter, may be sold without any such material adverse effect, which amount of Common Stock shall be allocated first to the Holders who have requested to be included in such offering pro rata on the basis of the number of Registrable Securities requested to be registered thereby and second as to the Company and any other holders of Common Stock.

Underwriting Procedures. If the holder or holders of Initiating Holders holding a majority of the aggregate outstanding shares of Registrable Securities held by all of the Initiating Holders to be registered pursuant to a which the requested Demand Registration relates so elect, the offering of such issue of Registrable Securities pursuant to such Demand Registration shall be in the form of an a firm commitment underwritten offering and the managing underwriter or underwriters selected for such offering shall be the Approved UnderwriterUnderwriter (as hereinafter defined) selected in accordance with Section 3(e). In such event, if the Approved Underwriter advises Packaging Dynamics the Company in writing that in its opinion the aggregate amount of such Registrable Securities requested to be included in such offering is sufficiently large as to have a material adverse effect on the success of such offering, Packaging Dynamics subject to the rights of the Existing Rightholders, the Company shall include in such registration only the aggregate amount of Registrable Securities that, that in the opinion of the Approved Underwriter, Underwriter may be sold without any such material adverse effecteffect and shall reduce, which amount of Common Stock shall be allocated first to the Holders who have requested to be included in such offering pro rata on the basis of the number of Registrable Securities requested to be registered thereby and second as to the Company and any other holders stockholders who are not Designated Holders as a group, if any, and then as to the Designated Holders as a group, pro rata within each group based on the number of Common StockRegistrable Securities included in the request for Demand Registration, the amount of Registrable Securities to be included by each Designated Holder in such registration.

Underwriting Procedures. If the holder Holder or holders Holders of a majority of the aggregate outstanding shares of Registrable Securities held by the Holders hereunder to be registered pursuant to a Demand which the Shelf Registration relates so elect, the offering of such issue of Registrable Securities pursuant to such Demand a Shelf Registration shall be in the form of an underwritten offering and the managing underwriter or underwriters selected for such offering shall be the Approved UnderwriterUnderwriter (as defined below). In such event, if the Approved Underwriter advises Packaging Dynamics Ivex in writing that in its opinion the aggregate amount of Registrable Securities requested to be included in such offering is sufficiently large as to have a material adverse effect on the success of such offering, Packaging Dynamics Ivex shall include in such registration only the aggregate amount of Registrable Securities that, in the opinion of the Approved Underwriter, may be sold without any such material adverse effecteffect and shall reduce, which pro rata, the amount of Common Stock shall be allocated first to the Holders who have requested Registrable Securities to be included by each Holder in such offering pro rata on the basis of the number of Registrable Securities requested to be registered thereby and second as to the Company and any other holders of Common Stockoffering.