Common use of Right to Defer Clause in Contracts

Right to Defer. If at the time of any request to register Registrable Securities by holders of Registrable Securities pursuant to this Agreement, the Company provides a certificate signed by the Chief Executive Officer of the Company stating the Company is engaged or has plans to engage in a registered public offering or is engaged in any other activity which, in the good faith determination of the Company’s Board of Directors, would be adversely affected by the requested registration, then the Company may at its option direct that such request be delayed for a period not in excess of 30 days from the date of such request, such right to delay a request to be exercised by the Company not more than once in any 12-month period.