Stockholder Demand definition
Examples of Stockholder Demand in a sentence
Founder shall be obligated to effect only one Purchase Price Stockholder Demand Registration and will use commercially reasonable efforts to keep such Purchase Price Stockholder Demand Registration current and effective for 90 days (or such shorter period as is required to complete the distribution and sale of all shares registered thereunder).
The Company will keep the Stockholders contemporaneously apprised of all pertinent aspects of its pursuit of any registration, whether pursuant to a Stockholder Demand Registration or otherwise, with respect to which a Piggyback Registration opportunity is available.
If the filing of a registration statement respecting a Stockholder Demand Registration would require the disclosure of material information which TRC has a bona fide business purpose for preserving as confidential, TRC shall not be required to effect the Stockholder Demand Registration until the earlier of: (i) the date upon which such material information is disclosed to the public or ceases to be material; or (ii) 90 days after TRC makes such good faith determination.
If TRC has been advised by an independent investment dealer that a Stockholder Demand Registration, at the time and on the terms requested, would adversely affect any proposed financing by TRC, TRC shall not be required to effect a Stockholder Demand Registration until the later of: (i) 45 days after completion or abandonment of such financing; and (ii) termination of any “blackout” required by the underwriters or agents in connection with such financing.
The Company will not be obligated to effect any Stockholder Demand Registration within twelve (12) months after the effective date of a Stockholder Demand Registration covering a consummated offering and sale of Stockholder Registrable Securities.
Upon receipt of a Stockholder Demand, the Company shall use its commercially reasonable efforts to effect registration of the Registrable Shares to be registered in accordance with the intended method of distribution specified in writing by the Demanding Holder as soon as practicable and to maintain the effectiveness of such registration for a period of ninety (90) days.
If a request for a Stockholder Demand Registration is made by a Stockholder pursuant to this Section 2.1 and such Stockholder subsequently withdraws such demand after TRC has incurred expenses of more than US $20,000 in complying with such request, such aborted registration attempt shall count as such Stockholder’s Demand Registration.
In that event, the holders shall not be deemed to have used an Investor Demand or a Management Stockholder Demand, as applicable, under Section 2(a).
However, if the Escrow Agent receives an L Capital Objection Notice prior to the expiration of the L Capital Dispute Period, then the provisions of Section 4.2 and 4.3 shall apply with respect to the Existing Stockholder Demand.
If any of the Registrable Securities covered by a Demand Registration are to be sold in an underwritten offering the Board shall have the right to select the managing underwriter or underwriters to administer the offering subject to the approval of ▇▇▇▇▇▇▇▇▇, in the case of a First Demand Registration or Second Demand Registration and the Majority Stockholder, in the case of a Stockholder Demand Registration, in either case, which approval will not be unreasonably withheld, conditioned or delayed.