Common use of Removal Deadline Clause in Contracts

Removal Deadline. Subject to the penultimate sentence of this Section 3(n), if, immediately prior to the third anniversary of the initial effective date of the Registration Statement (the “Renewal Deadline”), any Securities remain unsold by the Underwriters, the Company will, prior to the Renewal Deadline, file, if it is eligible to do so, a new shelf registration statement relating to the Securities, in a form and substance satisfactory to the Underwriters. Subject to the penultimate sentence of this Section 3(n), if, at the Renewal Deadline, the Company is not eligible to file a shelf registration statement, the Company will, prior to the Renewal Deadline, (i) file a new registration statement on the proper form relating to such Securities, in a form and substance satisfactory to the Underwriters, (ii) use its best efforts to cause such registration statement to be declared effective within 180 days after the Renewal Deadline and (iii) promptly notify the Representatives in writing of such effectiveness. The Company will take all other action necessary or appropriate to permit the offering and sale of the Securities to continue as contemplated in the expired Registration Statement. Notwithstanding anything in this Section 3(n) to the contrary, unless the Representatives notify the Company, in writing, at least thirty days prior to the Renewal Deadline, that Securities remain unsold by the Underwriters, the Company shall not have any obligations under this Section 3(n). References herein to the “Registration Statement” shall include any new registration statement filed pursuant to this Section 3(n).