Initial Demand Registration definition
Examples of Initial Demand Registration in a sentence
The Initial Requesting Holder may request that the Initial Demand Registration be a firm commitment underwritten offering.
For the avoidance of doubt, in the case of an Initial Demand Registration or a Piggyback Takedown in which the actual pricing is below the lowest price in the Estimated Pricing Range a Holder of Registrable Shares may withdraw its request at any time.
The Second Demand Registration is exercisable once and not prior to six months after the effective date of the Registration Statement filed pursuant to the Initial Demand Registration.
All requests for Demand Registrations (including the Initial Demand Registration) shall be made by giving written notice to the Company (the “Demand Registration Notice”).
Investors holding in excess of 50% of the Registrable Securities covered by the Initial Demand Registration may at any time prior to the effective date of the Registration Statement relating to such registration revoke the Initial Demand Notice by providing a written notice to the Company (in which case such Initial Demand Registration shall count as the Initial Demand Registration).
Upon receipt of any Initial Demand Registration Notice, the Company shall promptly give written notice of such proposed registration to all Holders.
The Initial Demand Registration Notice shall state the number of Registrable Units for which the notice applies and the expected aggregate proceeds of the offering (prior to underwriting discounts and commissions) as well as the intended method of distribution.
The Initial Demand Notice will specify the ------------ number of shares of Registrable Securities proposed to be sold, provided that the aggregate amount of Shares to be registered pursuant to the Initial Demand Registration shall not be less than a majority of the Registrable Securities then held by the Investors.
Subsequent to the Initial Demand Registration, the holders of Registrable Securities then outstanding shall have the right, by written notice delivered to the Company by or on behalf of the holders of at least fifty-one percent (51%) of the remaining Registrable Securities, to require the Company to register (the "Second Demand Registration") under the Securities Act up to one hundred percent (100%) of such remaining Registrable Securities as were not sold pursuant to the Initial Demand Registration.
For the avoidance of doubt, only one Initial Demand Registration may be effected pursuant to this Section 2(a)(i).