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

Effectiveness of the Initial Registration Statement. The Target Company shall use its best efforts (i) to have the Initial Registration Statement declared effective by the SEC no later than one year anniversary from date hereof (the "Scheduled Effective Deadline") and (ii) to insure that the Initial Registration Statement and any subsequent Registration Statement remains in effect until the earlier of (A) all of the Registrable Securities have been sold, subject to the terms and conditions of this Agreement or (B) in the written opinion of counsel for the Target Company all of the Registrable Securities are eligible for sale without an effective Registration Statement under the 1933 Act.