Common use of Right to Effect Shelf Takedowns Clause in Contracts

Right to Effect Shelf Takedowns. The Investor shall be entitled, at any time and from time to time when a Shelf Registration Statement is effective and until the expiration of the Effectiveness Period, to sell such Registrable Shares as are then registered pursuant to such Shelf Registration Statement (each, a “Shelf Takedown”). The Investor shall provide written notice to the Company of any plan to sell any Registrable Shares not less than 10 Business Days prior to the intended date of the first sale under such plan. Such notice shall set forth the plan of sale for a period of 60 calendar days (or such other period upon which the Investor and the Company may mutually agree). The Investor shall provide the Company with a new notice in accordance with the preceding two sentences prior to any sale of Registrable Shares after the expiration of the initial 60-day period (or such period upon which the Investor and the Company may mutually agree). It is acknowledged that, notwithstanding any other provisions herein, such Shelf Takedowns are not expected to be underwritten.

Right to Effect Shelf Takedowns. The Investor shall be entitled, at any time and from time to time when a Shelf Registration Statement is effective and until the expiration of the Effectiveness Period, to sell such Registrable Shares as are then registered pursuant to such Shelf Registration Statement (each, a “Shelf Takedown”). The Investor shall provide written notice to the Company of any plan to sell any Registrable Shares not less than 10 ten (10) Business Days prior to the intended date of the first sale under such plan. Such notice shall set forth the plan of sale for a period of 60 sixty (60) calendar days (or such other period upon which the Investor and the Company may mutually agree). The Investor shall provide the Company with a new notice in accordance with the preceding two sentences prior to any sale of Registrable Shares after the expiration of the initial 60-day period (or such period upon which the Investor and the Company may mutually agree). It is acknowledged that, notwithstanding any other provisions herein, such Shelf Takedowns are not expected to be underwritten.