Common use of Qualifying IPO Clause in Contracts

Qualifying IPO. An equity issuance by either Parent consisting of an underwritten primary public offering (other than a public offering pursuant to a registration statement on Form S-8) of its common stock (i) pursuant to an effective registration statement filed with the Securities and Exchange Commission in accordance with the Securities Act of 1933, as amended (whether alone or in connection with a secondary public offering) and (ii) resulting in gross proceeds to such Parent of at least $50,000,000.