Common use of Initial Offering Clause in Contracts

Initial Offering. Unless otherwise determined by the Investors holding a majority of the outstanding shares of Series D Preferred, promptly following the Closing (as defined in the Purchase Agreement) the Company shall use its best efforts to consummate an Initial Offering that constitutes a Qualified IPO; provided, however, that this Section 3.14 shall only apply to the extent such Initial Offering is approved by the Board and determined to be in the best interests of the Company and the stockholders of the Company.