Availability of Rule 144 Not Excuse for Obligations Clause Samples
The "Availability of Rule 144 Not Excuse for Obligations" clause establishes that a party's obligations under the agreement are not negated or excused simply because securities may be eligible for resale under Rule 144 of the Securities Act. In practice, this means that even if a party could potentially sell restricted securities in the open market due to Rule 144, they must still fulfill any contractual requirements, such as registration or lock-up provisions, as specified in the agreement. This clause ensures that the mere possibility of a legal exemption for resale does not undermine or release parties from their agreed-upon duties, thereby maintaining the integrity and enforceability of the contract's terms.
Availability of Rule 144 Not Excuse for Obligations under Section 2. The fact that holders of Registrable Securities may become eligible to sell such Registrable Securities pursuant to Rule 144 shall not (1) cause such Securities to cease to be Registrable Securities or (2) excuse the Company’s and the Guarantors’ obligations set forth in Section 2 of this Agreement, including without limitation the obligations in respect of an Exchange Offer, Shelf Registration and Special Interest.
Availability of Rule 144 Not Excuse for Obligations. The fact that the Sixth Street Entities may become eligible to sell their Registrable Securities pursuant to Rule 144 shall not (i) cause such securities to cease to be Registrable Securities or (ii) excuse the Company’s obligations set forth in this Agreement.
Availability of Rule 144 Not Excuse for Obligations under Section 2. The fact that Holders of Registrable Notes may become eligible to sell such Registrable Notes pursuant to Rule 144 shall not (1) cause such Notes to cease to be Registrable Notes or (2) excuse the Company’s and the Guarantors’ obligations set forth in Section 2 of this Agreement, including without limitation the obligations in respect of an Exchange Offer, Shelf Registration and Additional Interest.