Common use of Allowed Delay Clause in Contracts

Allowed Delay. For not more than twenty (20) consecutive trading days or for a total of not more than thirty (30) trading days in any twelve (12) month period, the Company may delay the disclosure of material non-public information concerning the Company, by electing not to file the Registration Statement by the Registration Date or terminating or suspending effectiveness of any registration contemplated by this Section containing such information, the disclosure of which at the time is not, in the good faith opinion of the Company, in the best interests of the Company (an "Allowed Delay"); provided, that the Company shall promptly (i) notify the Investors in writing of the existence of (but in no event, without the prior written consent of an Investor, shall the Company disclose to such Investor any of the facts or circumstances regarding) material non-public information giving rise to an Allowed Delay, and (ii) if the Registration Statement has already been filed and declared effective, advise the Investors in writing to cease all sales under the Registration Statement until the end of the Allowed Delay.