Common use of Underwriting Arrangements Clause in Contracts

Underwriting Arrangements. In connection with any IPO, Seller and Clinsite (or their transferees including PCLP), if they own any common stock of SFBC, shall enter into a written agreement with the managing underwriter in such form and containing such provisions as are customary in the securities business for such an agreement between underwriters and companies of SFBC's size and investment stature, including without limitation an agreement that Seller and Clinsite (and their transferees) shall not sell or dispose of the common stock on the date of closing of the IPO for a specified period following such closing date (but not longer than the period that is applicable to SFBC's (i) officers, directors and employees and (ii) shareholders owning more than the lesser of (x) 5% of the outstanding common stock or (y) the percentage of the outstanding common stock held by PCLP and Gessner in the aggregate).