Common use of Priority in Piggyback Registrations Clause in Contracts

Priority in Piggyback Registrations. If the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in a Piggyback Registration exceeds the number which can be sold in such offering, the Company shall include in such registration (i) first, the securities the Company proposes to sell, if any, and (ii) second, the Registrable Shares requested to be included in such registration, pro rata among Energy Spectrum and the holders of other securities requested to be included on the basis of the then number of Registrable Shares and other securities requested to be included by each holder of such securities.

Priority in Piggyback Registrations. If the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in a Piggyback Registration registration exceeds the number which can be sold in such offering, the Company shall include in such registration (i) first, the securities of the Company proposes proposed to sell, if any, be registered as described in the Piggyback Registration Notice and (ii) second, the Registrable Shares and other securities requested to be included in such registration, pro rata among Energy Spectrum and the holders of all such Registrable Shares and other securities requested to be included on the basis of the then number of Registrable Shares and other securities requested to be included by each holder of such securitiesholder.

Priority in Piggyback Registrations. If the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in a Piggyback Registration registration exceeds the number which can be sold in such offering, the Company shall include in such registration (i) first, the securities of the Company proposes proposed to sell, if any, be registered as described in the Piggyback Registration Notice and (ii) second, the Registrable Shares requested to be included in such registration, pro rata among Energy Spectrum and the holders of all such Registrable Shares and other securities requested to be included on the basis of the then number of Registrable Shares and other securities requested to be included by each holder of such securitiesholder.

Priority in Piggyback Registrations. If the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in a Piggyback Registration registration exceeds the number which can be sold in such offering, the Company shall include in such registration (i) first, the securities the Company proposes to sell, if any, and (ii) second, the Registrable Shares requested to be included in such registration, pro rata among Energy Spectrum and the holders of all such Registrable Shares and other securities requested to be included on the basis of the then number of Registrable Shares and other securities requested to be included by each holder of such securitiesholder.

Priority in Piggyback Registrations. If the managing underwriters advise underwriter of any underwritten offering that is the subject of this Section III.2 shall inform the Company in writing of its belief that in their opinion the number or type of Registrable Securities and other securities of the Company requested to be included in a Piggyback Registration exceeds such registration would materially adversely affect such offering, then the Company will include in such registration, to the extent of the number and type which the Company is so advised can be sold in (or during the time of) such offering, first, all securities proposed by the Company shall include to be sold for its own account, and second, the portion of Registrable Securities requested to be included in such registration (i) first, the and any other securities of the Company proposes requested to sellbe included in such registration which the Company has been advised by the managing underwriter can be sold, if any, and (ii) second, drawn from them pro rata based on the Registrable Shares number each has requested to be included in such registration, pro rata among Energy Spectrum and the holders of other securities requested to be included on the basis of the then number of Registrable Shares and other securities requested to be included by each holder of such securities.

Priority in Piggyback Registrations. If the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in a Piggyback Registration exceeds the number which can be sold in such offering, the Company shall include in such registration (i) first, the securities the Company proposes to sell, if any, and (ii) second, the Registrable Shares requested to be included in such registration, pro rata among Energy Spectrum and the holders of other securities requested to be included on the basis of the then number of Registrable Shares and other securities requested to be included by each holder of such securities.