Common use of Compulsory Registration Clause in Contracts

Compulsory Registration. If a Piggy-back Registration Statement has not been filed with the Commission or is not being diligently pursued by the Company within five (5) months of the Closing of the Agreement, the Company shall within thirty (30) days of demand by Holders owning more than 3,700,000 shares of the Securities file with the Commission a Registration Statement seeking to register for sale all the Registrable Securities. Such demand may be given at any time (but in no event sooner than five (5) months from the Closing of the Exchange Agreement. The Holders shall be entitled to withdraw all or any part of the Registrable Securities from a Registration Statement at any time prior to the effective date of such Registration Statement.

Compulsory Registration. If within twelve (12) months of the Closing of the Stock Purchase Agreement, a Piggy-back Back Registration Statement has not been filed with the Commission or is not being diligently pursued by the Company within five (5) months of the Closing of the AgreementCompany, the Company shall within thirty (30) days of demand made at any time thereafter by Holders owning more than 3,700,000 shares 89 percent of the Securities file with the Commission a Registration Statement seeking to register for sale all the Registrable Securities. Such demand may be given at any time (but in no event sooner than five (5) months from the Closing of the Exchange Agreement. The Holders shall be entitled to withdraw all or any part of the Registrable Securities from a Registration Statement at any time prior to the effective date of such Registration Statement.