Common use of Controlling Person Clause in Contracts

Controlling Person. If any such registration or comparable statement refers to any Stockholder by name or otherwise as the holder of any securities of the Company and if, in the reasonable, good faith judgment of such Stockholder, such Stockholder is or might be deemed to be a controlling person of the Company, such Stockholder will have the right to (a) participate in the preparation of such registration or comparable statement and to require the insertion therein of material, furnished to the Company in writing, that in the reasonable judgment of such Stockholder and his, her or its counsel should be included, (b) require the inclusion in such registration statement of language, in form and substance reasonably satisfactory to such Stockholder, to the effect that the holding of such securities by such Stockholder is not to be construed as a recommendation by such Stockholder of the investment quality of the Company's securities covered thereby and that such holding does not imply that such Stockholder will assist in meeting any future financial requirements of the Company or (c) require, if such reference to such Stockholder by name or otherwise is not required by the Securities Act or any similar federal statute then in force, the deletion of the reference to such Stockholder; provided, however, that with respect to this clause (c), such Stockholder must furnish to the Company an opinion of counsel to such effect, which opinion of counsel must be reasonably satisfactory to the Company.

Appears in 2 contracts

Sources: Stock Transfer Restriction and Registration Rights Agreement (Clear Channel Outdoor Holdings, Inc.), Stock Transfer Restriction and Registration Rights Agreement (Clear Channel Outdoor Holdings, Inc.)