Common use of Effectiveness of the Initial Registration Statement Clause in Contracts

Effectiveness of the Initial Registration Statement. The Company shall use its best efforts (i) to have the Initial Registration Statement declared effective by the SEC no later than sixty (60) days after the filing thereof (the “Scheduled Effective Deadline”) and (ii) to insure that the Initial Registration Statement and any subsequent Registration Statement remains in effect until all of the Registrable Securities have been sold, subject to the terms and conditions of this Agreement. It shall be an event of default hereunder if the Initial Registration Statement or any subsequent Registration Statement is not declared effective by the SEC within sixty (60) days after filing thereof. An event of default shall not be triggered, however, if the Initial Registration Statement or any subsequent Registration Statement is not declared effective by the SEC within sixty (60) days after the filing thereof exclusively due to issues raised by the SEC in writing related to Rule 415 promulgated under the 1933 Act.

Effectiveness of the Initial Registration Statement. The Company shall use its best efforts (i) to have the Initial Registration Statement declared effective by the SEC no later than sixty one hundred twenty (60120) days after the filing thereof date hereof (the “Scheduled Effective Deadline”) and (ii) to insure that the Initial Registration Statement and any subsequent Registration Statement remains in effect until all of the Registrable Securities have been sold, subject to the terms and conditions of this Agreement. It shall be an event of default hereunder if the Initial Registration Statement or any subsequent Registration Statement is not declared effective by the SEC within sixty one hundred twenty (60120) days after filing thereof. An event of default shall not be triggered, however, if the Initial Registration Statement or any subsequent Registration Statement is not declared effective by the SEC within sixty one hundred twenty (60120) days after the filing thereof exclusively due to issues raised by the SEC in writing related to Rule 415 promulgated under the 1933 Act.