Common use of Obligations of Optionee Clause in Contracts

Obligations of Optionee. It shall be a condition to the inclusion of any shares of Optionee in a registration statement that the Optionee cooperate in the execution and filing of the registration statement and any necessary state securities law filings, and if the offering is to be underwritten, that such holder become a party to the underwriting agreement and, if so requested by the managing underwriter, to Powers of Attorney and/or custodial agreements or other suitable arrangements as the managing underwriter deems reasonably necessary in order to insure orderly sale of the shares. As among the holders of shares included in any registration statement decisions respecting the terms and conditions of any underwriting agreements shall be made by the party initiating the registration; so that in the case of a registration required pursuant to a request by the Optionee under Section 10, determinations with respect to the under writing agreement shall be made by the Optionee in his or her reasonable judgment after appropriate consultation with the Company and with other persons whose shares are to be included in such offering; and if the Optionee is party to a registration statement pursuant to Section 11, the Optionee shall not have the right to make such determinations, but shall be informed of them, and consulted with respect thereto.

Obligations of Optionee. It shall be a condition to the inclusion of any shares of Optionee in a registration statement that the Optionee cooperate in the execution and filing of the registration statement and any necessary state securities law filings, and if the offering is to be underwritten, that such holder become a party to the underwriting agreement and, if so requested by the managing underwriter, to Powers of Attorney and/or custodial agreements or other suitable arrangements as the managing underwriter under writer deems reasonably necessary in order to insure orderly sale of the shares. As among the holders of shares included in any registration statement decisions respecting the terms and conditions of any underwriting agreements shall be made by the party initiating the registration; so that in the case of a registration required pursuant to a request by the Optionee under Section 10, determinations with respect to the under writing agreement shall be made by the Optionee in his or her reasonable judgment after appropriate consultation with the Company and with other persons whose shares are to be included in such offering; and if the Optionee is party to a registration statement pursuant to Section 11, the Optionee shall Option Shall not have the right to make such determinations, but shall be informed of them, and consulted with respect thereto.