{"component": "clause", "props": {"groups": [{"size": 4, "samples": [{"hash": "kkR68kOFerx", "uri": "/contracts/kkR68kOFerx#cutback", "label": "Continuing Investor Registration Rights Agreement (NetSTREIT Corp.)", "score": 31.540725708, "published": true}, {"hash": "gORjGAhfFjH", "uri": "/contracts/gORjGAhfFjH#cutback", "label": "Continuing Investor Registration Rights Agreement (NetSTREIT Corp.)", "score": 31.540725708, "published": true}, {"hash": "99u8dfCrlw7", "uri": "/contracts/99u8dfCrlw7#cutback", "label": "Continuing Investor Registration Rights Agreement (NetSTREIT Corp.)", "score": 31.3627643585, "published": true}], "snippet": "Notwithstanding any other provision of this Agreement, if the managing underwriter(s) determine(s) in good faith that marketing factors require a limitation on the number of shares to be included, then the managing underwriter(s) may exclude shares of Common Stock (including Class A Registrable Shares) from the IPO Registration Statement and Underwritten Offering, and any shares of Common Stock included in such IPO Registration Statement and Underwritten Offering shall be allocated as follows: first, to the Company, second, to the 144A Holders requesting inclusion of their 144A Registrable Shares in such IPO Registration Statement pursuant to the 144A Registration Rights Agreement and in accordance with the allocation provisions contained therein, and third, to the Holders of Class A Registrable Shares requesting inclusion of their Class A Registrable Shares in such IPO Registration Statement (on a pro rata basis based on the total number of Class A Registrable Shares then held by such Holders who are requesting inclusion).", "snippet_links": [{"key": "other-provision-of-this-agreement", "type": "clause", "offset": [20, 53]}, {"key": "the-managing", "type": "definition", "offset": [58, 70]}, {"key": "in-good-faith", "type": "definition", "offset": [99, 112]}, {"key": "marketing-factors", "type": "clause", "offset": [118, 135]}, {"key": "number-of-shares-to-be-included", "type": "clause", "offset": [164, 195]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [242, 264]}, {"key": "class-a-registrable-shares", "type": "definition", "offset": [276, 302]}, {"key": "ipo-registration-statement", "type": "clause", "offset": [313, 339]}, {"key": "underwritten-offering", "type": "definition", "offset": [344, 365]}, {"key": "to-the-company", "type": "definition", "offset": [506, 520]}, {"key": "inclusion-of", "type": "clause", "offset": [561, 573]}, {"key": "pursuant-to-the", "type": "definition", "offset": [639, 654]}, {"key": "registration-rights-agreement", "type": "definition", "offset": [660, 689]}, {"key": "in-accordance-with", "type": "definition", "offset": [694, 712]}, {"key": "allocation-provisions", "type": "clause", "offset": [717, 738]}, {"key": "holders-of-class-a", "type": "clause", "offset": [776, 794]}, {"key": "pro-rata-basis", "type": "clause", "offset": [912, 926]}, {"key": "based-on", "type": "definition", "offset": [927, 935]}, {"key": "total-number-of", "type": "definition", "offset": [940, 955]}], "hash": "5712e898c5f2f49cde161f13ace3dabd", "id": 10}, {"size": 18, "samples": [{"hash": "jFA6olbC0Zw", "uri": "/contracts/jFA6olbC0Zw#cutback", "label": "Registration Rights Agreement (Jpmorgan Chase & Co)", "score": 35.6967811584, "published": true}, {"hash": "glVAdcitr62", "uri": "/contracts/glVAdcitr62#cutback", "label": "Registration Rights Agreement (HG Vora Capital Management, LLC)", "score": 35.6885681152, "published": true}, {"hash": "dUIGyj5SNWn", "uri": "/contracts/dUIGyj5SNWn#cutback", "label": "Registration Rights Agreement (Hudson Bay Capital Management LP)", "score": 35.6885681152, "published": true}], "snippet": "(i) With respect to any Demand Registration for an underwritten offering, any Company Initiated Resale Registration for an underwritten offering, any Underwritten Shelf Take-Down, in each case that does not include Issuer Unit Equivalents being sold for the account of the Company, or any other registration for an underwritten offering that does not include Issuer Unit Equivalents being sold for the account of the Company, if the IM Underwriter or Company Underwriter, as applicable, advises the Company in its good faith opinion that the amount of Registrable Securities requested to be included in such registration, including Registrable Securities requested to be included pursuant to SECTION 2.2, exceeds the amount which can be sold in such offering without adversely affecting the distribution of the Registrable Securities being offered, then the Company will reduce the Registrable Securities to be included in such offering pro rata based on the amount of Issuer Units owned by each Holder requesting to include Registrable Securities in such registration under any of SECTION 2.1, SECTION 2.2 or SECTION 2.5.\n(ii) With respect to any Demand Registration for an underwritten offering, any Company Initiated Resale Registration for an underwritten offering or any Underwritten Shelf Take-Down that does include Issuer Unit Equivalents being sold for the account of the Company, if the IM Underwriter or Company Underwriter, as applicable, advises the Company in its good faith opinion that the amount of Issuer Unit Equivalents being sold for the account of the Company together with the Registrable Securities requested by the Holders to be included in such registration, including Registrable Securities requested to be included pursuant to SECTION 2.2, exceeds the amount which can be sold in such offering without adversely affecting the distribution of the Issuer Unit Equivalents and Registrable Securities being offered, then the Company will reduce the Issuer Unit Equivalents and Registrable Securities to be included in such offering by (i) first only including the total number of Registrable Securities of the Holders in such offering with each such Holder entitled to include its pro rata share based on the number of Issuer Units that are owned by such Holder and constitute Registrable Securities and (ii) second, to the extent that all Registrable Securities of the Holders can be included, then only including the total number of Issuer Unit Equivalents being sold for the account of the Company (in addition to all such Registrable Securities being sold by Holders) that the Company so determines can be included.\n(b) If the Company Underwriter advises the Company in its good faith opinion that the amount of Issuer Unit Equivalents being sold for the account of the Company together with the Registrable Securities requested to be included in an underwritten offering contemplated by SECTION 2.2(b) (other than a registration subject to SECTION 2.4(a)) exceeds the amount which can be sold in such offering without adversely affecting the distribution of the Issuer Unit Equivalents and Registrable Securities being offered, then the Company will reduce the Issuer Unit Equivalents and Registrable Securities to be included in such offering by (i) first only including the Issuer Unit Equivalents (or portion thereof) being sold for the account of the Company that the Company so determines can be included and (ii) second, to the extent that all Issuer Unit Equivalents being sold for the account of the Company can be included, then only including the total number of Registrable Securities of the Holders in such offering as the Company so determines can be included (in addition to all such Issuer Unit Equivalents being sold for the account of the Company) with each such Holder entitled to include its pro rata share based on the number of Issuer Units that are owned by such Holder and constitute Registrable Securities.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [4, 19]}, {"key": "demand-registration", "type": "definition", "offset": [24, 43]}, {"key": "underwritten-offering", "type": "definition", "offset": [51, 72]}, {"key": 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registration but the Company shall be required to reimburse such holder for the fees and expenses referred to in Section 1.7(b) hereof incurred by such holder prior to such withdrawal.", "snippet_links": [{"key": "section-14", "type": "clause", "offset": [52, 63]}, {"key": "designated-holders", "type": "definition", "offset": [69, 87]}, {"key": "registrable-securities", "type": "definition", "offset": [125, 147]}, {"key": "piggyback-registration", "type": "definition", "offset": [153, 175]}, {"key": "the-company-shall", "type": "clause", "offset": [340, 357]}, {"key": "to-reimburse", "type": "definition", "offset": [370, 382]}, {"key": "the-fees-and-expenses", "type": "clause", "offset": [399, 420]}, {"key": "prior-to", "type": "clause", "offset": [482, 490]}], "hash": "f6da58d00594eaf3e0c4d7ac0a8e5f49", "id": 2}, {"size": 10, "samples": [{"hash": "eSaHPmgXUD1", "uri": "/contracts/eSaHPmgXUD1#cutback", "label": "Stock Purchase Agreement (Nephros Inc)", "score": 30.3689250946, 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To the extent the number of such shares that can be registered is limited, the Company shall file a subsequent registration agreement that will provide, among other things, that the Company will use its commercially reasonable efforts to register additional tranches of Registrable Securities as soon as permissible thereafter under applicable laws, rules and regulations so that all of such Registrable Securities are registered as soon as reasonably practicable.", "snippet_links": [{"key": "in-connection-with", "type": "clause", "offset": [0, 18]}, {"key": "the-registration-statement", "type": "clause", "offset": [26, 52]}, {"key": "section-41", "type": "clause", "offset": [65, 76]}, {"key": "the-obligations-of-the-company", "type": "clause", "offset": [85, 115]}, {"key": "article-iv", "type": "definition", "offset": [134, 144]}, {"key": "subject-to", "type": "definition", "offset": [149, 159]}, {"key": "limitations-on-the-company", "type": "clause", "offset": [164, 190]}, {"key": "to-register", "type": "clause", "offset": [201, 212]}, {"key": "registrable-securities", "type": "definition", "offset": [241, 263]}, {"key": "in-accordance-with", "type": "definition", "offset": [264, 282]}, {"key": "rule-415", "type": "clause", "offset": [283, 291]}, {"key": "the-securities-act", "type": "clause", "offset": [298, 316]}, {"key": "other-regulatory-limitations", "type": "clause", "offset": [320, 348]}, {"key": "to-the-extent", "type": "clause", "offset": [350, 363]}, {"key": "number-of", "type": "definition", "offset": [368, 377]}, {"key": "the-company-shall", "type": "clause", "offset": [425, 442]}, {"key": "registration-agreement", "type": "clause", "offset": [461, 483]}, {"key": "will-provide", "type": "clause", "offset": [489, 501]}, {"key": "the-company-will", "type": "clause", "offset": [528, 544]}, {"key": "commercially-reasonable-efforts", "type": "clause", "offset": [553, 584]}, {"key": "additional-tranches", "type": "clause", "offset": [597, 616]}, {"key": "applicable-laws", "type": "definition", "offset": [683, 698]}, {"key": "rules-and-regulations", "type": "definition", "offset": [700, 721]}], "hash": "e538c37e74c6e347aa39878c6195d433", "id": 3}, {"size": 9, "samples": [{"hash": "77LtOqeiWWx", "uri": "/contracts/77LtOqeiWWx#cutback", "label": "Registration Rights Agreement (Macquarie Infrastructure Management (USA) INC)", "score": 21.0, "published": true}, {"hash": "gRz6yhrukfq", "uri": "/contracts/gRz6yhrukfq#cutback", "label": "Registration Rights Agreement (Macquarie Infrastructure CO Trust)", "score": 18.0, "published": true}, {"hash": "dItCMi7WqrF", "uri": "/contracts/dItCMi7WqrF#cutback", "label": "Registration Rights Agreement (Macquarie Infrastructure CO Trust)", "score": 18.0, "published": true}], "snippet": "Notwithstanding any other provision of this Section 3 to the contrary, if the representative of the underwriters determines that marketing factors require a limitation of the number of shares to be underwritten, the underwriters and the Company may limit the number of Registrable Shares to be included in the Company Registration Statement and underwriting. In the event of any such limitation of the number of shares of Trust Stock to be underwritten, the Company shall so advise the Manager, and the number of shares included in such Company Registration Statement and underwriting shall be allocated first to the Company for securities being sold for its own account and thereafter to the Manager. If the Manager disapproves of the terms of any such underwriting, it may elect to withdraw therefrom by written notice to the Company and the underwriter, and such Registrable Shares shall be withdrawn from such Company Registration Statement.", "snippet_links": [{"key": "provision-of", "type": "clause", "offset": [26, 38]}, {"key": "section-3", "type": "clause", "offset": [44, 53]}, {"key": "the-representative", "type": "clause", "offset": [74, 92]}, {"key": "the-underwriters", "type": "definition", "offset": [96, 112]}, {"key": "marketing-factors", "type": "clause", "offset": [129, 146]}, {"key": "limitation-of-the", "type": "clause", "offset": [157, 174]}, {"key": "and-the-company", "type": "clause", "offset": [229, 244]}, {"key": "registrable-shares", "type": "clause", "offset": [269, 287]}, {"key": "company-registration-statement", "type": "definition", "offset": [310, 340]}, {"key": "in-the-event-of", "type": "clause", "offset": [359, 374]}, {"key": "number-of-shares-of", "type": "clause", "offset": [402, 421]}, {"key": "trust-stock", "type": "definition", "offset": [422, 433]}, {"key": "the-company-shall", "type": "clause", "offset": [454, 471]}, {"key": "the-manager", "type": "definition", "offset": [482, 493]}, {"key": "shares-included", "type": "clause", "offset": [513, 528]}, {"key": "securities-being-sold", "type": "definition", "offset": [629, 650]}, {"key": "for-its-own-account", "type": "clause", "offset": [651, 670]}, {"key": "terms-of", "type": "definition", "offset": [736, 744]}, {"key": "the-company-and-the", "type": "clause", "offset": [824, 843]}], "hash": "ca018680f9ec69b1e1eba4a6fedcdd46", "id": 4}, {"size": 9, "samples": [{"hash": "hHBa7aMcQxX", "uri": "/contracts/hHBa7aMcQxX#cutback", "label": "Performance Stock Unit Award Agreement (Lockheed Martin Corp)", "score": 31.5516777039, "published": true}, {"hash": "aGFPtqOyMOn", "uri": "/contracts/aGFPtqOyMOn#cutback", "label": "Performance Stock Unit Award Agreement (Lockheed Martin Corp)", "score": 31.3052711487, "published": true}], "snippet": "Any payment called for under Section 5.2 will be reduced to the extent that such payment together with payments attributable to any other Share-Based Awards that are granted during 2020 as Performance-Based Awards exceeds 1,000,000 shares of Stock. Amounts in excess of 1,000,000 shares shall be forfeited. Any DDEs on forfeited shares shall also be forfeited.", "snippet_links": [{"key": "section-52", "type": "clause", "offset": [29, 40]}, {"key": "to-the-extent", "type": "clause", "offset": [57, 70]}, {"key": "shares-of-stock", "type": "definition", "offset": [232, 247]}, {"key": "forfeited-shares", "type": "definition", "offset": [319, 335]}], "hash": "02ca541c493233787beefea66eb18136", "id": 5}, {"size": 8, "samples": [{"hash": "LVhx5fAUMF", "uri": "/contracts/LVhx5fAUMF#cutback", "label": "Business Combination Agreement (HighCape Capital Acquisition Corp.)", "score": 32.1348381042, "published": true}, {"hash": "kHKKV79pcd0", "uri": "/contracts/kHKKV79pcd0#cutback", "label": "Business Combination Agreement (HighCape Capital Acquisition Corp.)", "score": 32.1321029663, "published": true}, {"hash": "iRg8PA4Kehi", "uri": "/contracts/iRg8PA4Kehi#cutback", "label": "Subscription Agreement (HighCape Capital Acquisition Corp.)", "score": 30.1348400116, "published": true}], "snippet": "Notwithstanding anything contrary herein, the Company, in its sole discretion, shall have the right to reduce the number of Shares to be issued to the Subscriber pursuant to this Subscription Agreement, as long as the Company is reducing the number of shares to be issued and sold to all investors pursuant to the other subscription agreements, on a pro rata basis. The Company or the Placement Agent shall notify the Subscriber in writing at least two (2) business days in advance of Closing if it elects to reduce the number of Shares to be issued and sold to the Subscriber pursuant to this Section 11.", "snippet_links": [{"key": "the-company", "type": "definition", "offset": [42, 53]}, {"key": "sole-discretion", "type": "clause", "offset": [62, 77]}, {"key": "right-to", "type": "definition", "offset": [94, 102]}, {"key": "issued-to", "type": "definition", "offset": [137, 146]}, {"key": "the-subscriber", "type": "clause", "offset": [147, 161]}, {"key": "sold-to", "type": "clause", "offset": [276, 283]}, {"key": "all-investors", "type": "clause", "offset": [284, 297]}, {"key": "pursuant-to-the", "type": "definition", "offset": [298, 313]}, {"key": "other-subscription-agreements", "type": "definition", "offset": [314, 343]}, {"key": "pro-rata-basis", "type": "clause", "offset": [350, 364]}, {"key": "agent-shall", "type": "definition", "offset": [395, 406]}, {"key": "notify-the", "type": "clause", "offset": [407, 417]}, {"key": "in-writing", "type": "definition", "offset": [429, 439]}, {"key": "in-advance", "type": "clause", "offset": [471, 481]}, {"key": "section-11", "type": "clause", "offset": [594, 604]}], "hash": "0da573419659b989c768705cf9b3995c", "id": 6}, {"size": 8, "samples": [{"hash": "biLrMN61Lbp", "uri": "/contracts/biLrMN61Lbp#cutback", "label": "Long Term Incentive Performance Award Agreement (Lockheed Martin Corp)", "score": 31.5516777039, "published": true}, {"hash": "bMZl4ODbARH", "uri": "/contracts/bMZl4ODbARH#cutback", "label": "Long Term Incentive Performance Award Agreement (Lockheed Martin Corp)", "score": 31.3052711487, "published": true}], "snippet": "Any portion of your Potential Award in excess of the Payable Portion of your Potential Award will be forfeited to the extent that such portion, together with payments attributable to any other Cash-Based Awards that are granted during 2020 as Performance Based Awards, exceeds $10,000,000. Amounts in excess of any Plan limits also shall be forfeited.", "snippet_links": [{"key": "potential-award", "type": "definition", "offset": [20, 35]}, {"key": "to-the-extent", "type": "clause", "offset": [111, 124]}, {"key": "other-cash", "type": "definition", "offset": [187, 197]}, {"key": "performance-based-awards", "type": "clause", "offset": [243, 267]}], "hash": "d2958d2b6d066ed8ea352b3c7cd73299", "id": 7}, {"size": 5, "samples": [{"hash": "hTRVGMFyieO", "uri": "/contracts/hTRVGMFyieO#cutback", "label": "Subscription Agreement (Alps Global Holding Pubco)", "score": 33.9760437012, "published": true}, {"hash": "feU0v2NZaOm", "uri": "/contracts/feU0v2NZaOm#cutback", "label": "Subscription Agreement (Alps Global Holding Pubco)", "score": 33.7515411377, "published": true}, {"hash": "c0FkHjxzcwM", "uri": "/contracts/c0FkHjxzcwM#cutback", "label": "Subscription Agreement (Globalink Investment Inc.)", "score": 33.6721420288, "published": true}], "snippet": "Notwithstanding anything to the contrary herein, Pubco, with the prior written consent of Parent, shall have the right to reduce the number of Securities to be issued to the Subscriber pursuant to this Subscription Agreement, as long as Pubco is reducing the number of Securities to be issued and sold to all investors pursuant to the other subscription agreements, on a pro rata basis. Pubco shall notify the Subscriber in writing at least two (2) business days in advance of Closing if Pubco elects to reduce the number of Securities to be issued and sold to the Subscriber pursuant to this Section 12.", "snippet_links": [{"key": "notwithstanding-anything-to-the-contrary", "type": "clause", "offset": [0, 40]}, {"key": "consent-of-parent", "type": "clause", "offset": [79, 96]}, {"key": "right-to", "type": "definition", "offset": [113, 121]}, {"key": "issued-to", "type": "definition", "offset": [160, 169]}, {"key": "the-subscriber", "type": "clause", "offset": [170, 184]}, {"key": "sold-to", "type": "clause", "offset": [297, 304]}, {"key": "all-investors", "type": "clause", "offset": [305, 318]}, {"key": "pursuant-to-the", "type": "definition", "offset": [319, 334]}, {"key": "other-subscription-agreements", "type": "definition", "offset": [335, 364]}, {"key": "pro-rata-basis", "type": "clause", "offset": [371, 385]}, {"key": "notify-the", "type": "clause", "offset": [399, 409]}, {"key": "in-writing", "type": "definition", "offset": [421, 431]}, {"key": "in-advance", "type": "clause", "offset": [463, 473]}, {"key": "section-12", "type": "clause", "offset": [593, 603]}], "hash": "8d3bdcc57b4cb69b1fae6a8fb8f97a7c", "id": 8}, {"size": 5, "samples": [{"hash": "f473fa0Mjep", "uri": "/contracts/f473fa0Mjep#cutback", "label": "Registration Rights Agreement (Emcore Corp)", "score": 19.0, "published": true}, {"hash": "90wrORTKlcK", "uri": "/contracts/90wrORTKlcK#cutback", "label": "Registration Rights Agreement (Emcore Corp)", "score": 19.0, "published": true}], "snippet": "If the lead managing underwriter of an offering covered by Section 1(a) shall advise Buyer in writing on or before the date five (5) days prior to the date then scheduled for such offering that, in its opinion, the amount of Common Stock (including Subject Stock) requested to be included in such registration exceeds the amount which can be sold in such offering without adversely affecting the distribution of the Common Stock being offered, then Buyer will include in such registration:\n(i) in the case of a Buyer Registration, first, any shares proposed to be offered by Buyer; 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Cutback", "Rule 415; <strong>Cutback</strong>"], ["underwriters-cutback", "Underwriter\u2019s Cutback", "Underwriter\u2019s <strong>Cutback</strong>"], ["piggyback", "Piggyback", "Piggyback"], ["effective-demand-registration", "Effective Demand Registration", "Effective Demand Registration"]], "related_snippets": [], "updated": "2026-05-20T04:25:14+00:00", "also_ask": ["What are the most common negotiation points for cutback clauses in this context?", "Which essential elements must be included to ensure a cutback clause is enforceable?", "What are the primary risks or loopholes that could undermine a cutback provision?", "How do cutback clauses in this agreement compare to those in similar contracts or jurisdictions?", "What factors do courts consider when determining the validity and scope of a cutback clause?"], "drafting_tip": "Specify the circumstances triggering a cutback to prevent disputes; define the calculation method to ensure transparency; clarify affected parties to avoid unintended consequences.", "explanation": "A Cutback clause limits the amount of benefits or payments a party can receive under a contract to ensure compliance with applicable laws or to avoid adverse tax consequences. In practice, this clause may reduce or cap certain payments, such as severance or bonuses, if providing the full amount would trigger penalties, violate regulations, or result in unfavorable tax treatment. Its core function is to protect both parties from unintended legal or financial liabilities by automatically adjusting contractual obligations to remain within legal or regulatory boundaries."}, "json": true, "cursor": ""}}