Common use of Deferral Right Clause in Contracts

Deferral Right. Subject to the foregoing clauses (i) through (vi) of Section l(b) above, the Company shall file a registration statement covering the Registrable Securities so requested to be registered as soon as practicable after receipt of the request or requests of the Initiating Holders; provided, however, that if (i) in the good faith judgment of the Board of Directors of the Company, such registration would be seriously detrimental to the Company and the Board of Directors of the Company concludes, as a result, that it is essential to defer the filing of such registration statement at such time, and (ii) the Company shall furnish to such Holders a certificate signed by the President of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company for such registration statement to be filed in the near future and that it is, therefore, essential to defer the filing of such registration statement, then the Company shall have the right to defer such filing for the period during which such disclosure would be seriously detrimental, provided that (except as provided in Section l(b)(iii) above) the Company may not defer the filing for a period of more than one hundred eighty (180) days after receipt of the request of the Initiating Holders and, provided further, that the Company shall not defer its obligation in this manner more than once in any twelve (12) month period.

Deferral Right. Subject to Notwithstanding the foregoing clauses foregoing, (i) through (vi) of Section l(b) above, the Company -------------- shall file not, except in accordance with Section 1.2(b), be obligated to effect the filing of a registration statement covering pursuant to this Section 1.2 during the Registrable Securities so requested 180 days following the effective date of a registration statement pertaining to be registered as soon as practicable after receipt the underwritten public offering of equity securities for the request or requests of the Initiating Holders; provided, however, that if (i) in the good faith judgment of the Board of Directors account of the Company, such registration would be seriously detrimental to the Company and the Board of Directors of the Company concludes, as a result, that it is essential to defer the filing of such registration statement at such time, and or (ii) if the Company shall furnish to such Holders requesting a registration statement pursuant to this Section 1.2 a certificate signed by the President Chairman of the Board or Chief Executive Officer of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would not be seriously detrimental to in the best interests of the Company and its stockholders generally for such registration statement to be filed in the near future and that it isfiled, therefore, essential to defer the filing of such registration statement, then the Company shall have the right to defer such filing for the period during which such disclosure would be seriously detrimental, provided that (except as provided in Section l(b)(iii) above) the Company may not defer the filing for a period of not more than one hundred eighty (180) 180 days after receipt of the request of the Initiating Holders andHolders; provided, provided furtherhowever, that the Company shall may not defer its obligation utilize the -------- ------- right set forth in this manner subsection (e)(ii) more than once in any twelve (12) twelve- month period; nor, to the extent a registration request is received by the Company within the 180-day period set forth in this subsection (e)(i), shall the Company utilize the right set forth in this subsection (e)(ii) in combination with the delay right set forth in such subsection (e)(i) to cause a delay of more than 180 days from the date of such request until the filing of such registration statement.