Common use of Delay Periods Clause in Contracts

Delay Periods. Notwithstanding the provisions of Section 1 above, the Company shall have the right to suspend the filing, effectiveness or use of the Registration Statement for a reasonable length of time not to exceed 90 calendar days (a "Delay Period") from time to time if the Company determines in good faith that (A) it is in possession of material, non-public information concerning an acquisition, merger, recapitalization, consolidation, reorganization or other material transaction by or of the Company or concerning pending or threatened litigation and (B) disclosure of such information would jeopardize any such transaction or litigation or otherwise materially harm the Company, PROVIDED, that the Company may not exercise such deferral right pursuant to this Section 2 more than once in any twelve month period. The Company shall provide written notice at or prior to commencement of a Delay Period and promptly upon the end of any Delay Period to each holder of Registrable Shares covered by the Registration Statement and such holders shall cease all disposition efforts with respect to Registrable Shares held by them immediately upon the beginning of any Delay Period until notified of the end of such Delay Period.

Delay Periods. Notwithstanding the provisions of Section 1 above, the Company shall have the right to suspend the filing, effectiveness or use of the Registration Statement for a reasonable length of time not to exceed 90 calendar days (a "Delay Period") from time to time if the Company determines in good faith that (A) it is in possession of material, non-public information concerning an acquisition, merger, recapitalization, consolidation, reorganization or other material transaction by or of the Company or concerning pending or threatened litigation and (B) disclosure of such information would jeopardize any such transaction or litigation or otherwise materially harm the Company, PROVIDEDprovided, that the Company may not exercise such deferral right pursuant to this Section 2 more than once in any twelve month period. The Company shall provide written notice at or prior to commencement of a Delay Period and promptly upon the end of any Delay Period to each holder of Registrable Shares covered by the Registration Statement and such holders shall cease all disposition efforts with respect to Registrable Shares held by them immediately upon the beginning of any Delay Period until notified of the end of such Delay Period.