Common use of Withdrawal Election Clause in Contracts

Withdrawal Election. If, as a result of the proration provisions of this Section 2.3, any Holder shall not be entitled to include at least 50% of the Registrable Securities in a Demand Registration or Piggy-Back Registration that such Holder has requested to be included, such Holder may elect to withdraw his, her or its request to include Registrable Securities in such registration (a "Withdrawal Election"); provided, however, that a Withdrawal Election shall be irrevocable and, after making a Withdrawal Election, a Holder shall no longer have any right to include Registrable Securities in the registration as to which such Withdrawal Election was made.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Park N View Inc), Registration Rights Agreement (Park N View Inc)

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Withdrawal Election. If, as a result of the proration provisions of this Section 2.3, any Holder shall not be entitled to include at least 50% of the Registrable Securities in a Demand Registration or Piggy-Back Registration that such Holder has requested to be included, such Holder may elect to withdraw his, her or its his request to include Registrable Securities in such registration (a "Withdrawal Election"); provided, however, that a Withdrawal Election shall be irrevocable and, after making a Withdrawal Election, a Holder shall no longer have any right to include Registrable Securities in the registration Piggy Back Registration as to which such Withdrawal Election was made.

Appears in 2 contracts

Samples: Registration Rights Agreement (Safety Components International Inc), Registration Rights Agreement (Safety Components International Inc)

Withdrawal Election. If, as a result of the proration provisions of this Section 2.310.2(b), any a Holder shall not be entitled to include at least 50% of the Registrable Securities Conversion Shares in a Demand Registration or Piggy-Back Registration that such Holder has requested to be included, such Holder may elect to withdraw his, her or its request to include Registrable Securities Conversion Shares in such registration (a "Withdrawal Election")) without incurring any liability for its fees and expenses; provided, however, that a Withdrawal Election shall be irrevocable and, after making a Withdrawal Election, a such Holder shall no longer have any right to include Registrable Securities Conversion Shares in the registration Piggy-Back Registration as to which such Withdrawal Election was made.

Appears in 1 contract

Samples: Series C Convertible Preferred Stock Purchase Agreement (Audible Inc)

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Withdrawal Election. If, as a result of the proration provisions of this Section 2.310.2(b), any a Holder shall not be entitled to include at least 50% of the Registrable Securities Conversion Shares in a Demand Registration or Piggy-Back Registration that such Holder has requested to be included, such Holder may elect to withdraw his, her or its request to include Registrable Securities Conversion Shares in such registration (a "Withdrawal ElectionWITHDRAWAL ELECTION")) without incurring any liability for its fees and expenses; provided, however, that a Withdrawal Election shall be irrevocable and, after making a Withdrawal Election, a such Holder shall no longer have any right to include Registrable Securities Conversion Shares in the registration Piggy-Back Registration as to which such Withdrawal Election was made.

Appears in 1 contract

Samples: Series C Convertible Preferred Stock Purchase Agreement (Audible Inc)

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