Common use of Demand Rights for Shelf Takedowns Clause in Contracts

Demand Rights for Shelf Takedowns. Subject to Sections 2.3 and 8.4, upon the written demand of Holder, the Company will facilitate in the manner described in this Agreement a “takedown” of Registerable Securities off of the Registration Statement; provided that Holder may not make such demand more than two (2) times in the aggregate; and provided, furthermore, that any demand for an underwritten offering of Registrable Securities shall have an aggregate market value (based on the most recent closing pricing of the Company’s Common Stock at the time of the demand) of at least $25 million. If a demand by ▇▇▇▇▇▇ has been made for a shelf takedown, no further demands may be made so long as such offering is still being pursued. Holder shall be entitled to withdraw a demand for a shelf takedown if the Company imposes a blackout pursuant to Section 2.3 and, notwithstanding anything to the contrary in this Agreement, if such demand is withdrawn by ▇▇▇▇▇▇, such demand shall not count as one of the permitted demands hereunder and the Company shall pay all expenses in connection with such shelf takedown.

Demand Rights for Shelf Takedowns. Subject to Sections 2.3 and 8.4, upon the written demand of Holderthe Purchaser, the Company will facilitate in the manner described in this Agreement a “takedown” of Registerable Securities off of the Registration Statement; provided that Holder the Purchaser may not make such demand more than two (2) times in the aggregate; and provided, furthermore, that any demand for an underwritten offering of Registrable Securities shall have an aggregate market value (based on the most recent closing pricing of the Company’s Common Stock into which the Series C Preferred Stock is convertible at the time of the demand) of at least $25 million. If a demand by ▇▇▇▇▇▇ the Purchaser has been made for a shelf takedown, no further demands may be made so long as such offering is still being pursued. Holder Purchaser shall be entitled to withdraw a demand for a shelf takedown if the Company imposes a blackout pursuant to Section 2.3 and, notwithstanding anything to the contrary in this Agreement, if such demand is withdrawn by ▇▇▇▇▇▇the Purchaser, such demand shall not count as one of the permitted demands hereunder and the Company shall pay all expenses in connection with such shelf takedown.