Common use of Limitations on Registration Clause in Contracts

Limitations on Registration. The Company shall not be required to effect a registration pursuant to this Section 2.01: (i) if the Company shall furnish to the Demanding Holders a certificate signed by the Company’s Authorized Officer stating that a Potential Material Event exists, in which event the Company shall have the right to defer such filing for a period of not more than ninety (90) calendar days from the date that the Company would be obligated to file a Registration Statement pursuant to Section 2.01(b) in the absence of this Section 2.01(d)(i), provided that such right to delay a request may not be exercised by the Company more than twice in any twelve (12)-month period; (ii) if the Demanding Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration statement, propose to sell Registrable Securities and such other Securities (if any) whereby the aggregate proceeds of which (after deduction for Selling Expenses) are less than $1,000,000; (iii) if all of the Registrable Securities identified in the Demand Notice may be transferred, sold or otherwise disposed of without any manner or volume limitations under the Securities Act in accordance with the provisions of Rule 144; (iv) after the tenth anniversary of this Agreement.

Limitations on Registration. The Company shall not be required to effect a registration pursuant to this Section 2.01: (i) if the Company shall furnish to the Demanding Holders a certificate signed by the Company’s Authorized Officer stating that a Potential Material Event exists, in which event the Company shall have the right to defer such filing for a period of not more than ninety (90) calendar days from the date that the Company would be obligated to file a Registration Statement pursuant to Section 2.01(b) in the absence of this Section 2.01(d)(i), provided that such right to delay a request may not be exercised by the Company more than twice in any twelve (12)-month period; (ii) if the Demanding Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration statement, propose to sell Registrable Securities and such other Securities (if any) whereby the aggregate proceeds of which (after deduction for Selling Expenses) are less than $1,000,0005,000,000; (iii) if all of the Registrable Securities identified in the Demand Notice may be transferred, sold or otherwise disposed of without any manner or volume limitations under the Securities Act in accordance with the provisions of Rule 144; (iv) after the tenth anniversary of this Agreement.