Delay Periods; Suspension of Sales. (a) If at any time prior to the expiration of the Effectiveness Period, counsel to the Company (which counsel shall be experienced in securities laws matters) has determined in good faith that the filing of the Shelf Registration Statement or the compliance by the Company with its disclosure obligations in connection with the Shelf Registration Statement would require the disclosure of material information which the Company has a bona fide business purpose for preserving as confidential, then the Company may delay the filing of the Shelf Registration Statement (if not then filed) and shall not be required to maintain the effectiveness thereof or amend or supplement the Shelf Registration Statement for a period (an "Information Delay Period") expiring upon the earlier to occur of (A) the date on which such material information is disclosed to the public or ceases to be material or the Company is able to so comply with its disclosure obligations and Commission requirements or (B) 30 days after counsel to the Company makes such good faith determination. There shall not be more than four Information Delay Periods during the Effectiveness Period, and there shall not be two Information Delay Periods during any contiguous 90 day period.
Delay Periods; Suspension of Sales. Each Holder shall suspend, upon request of the Company pursuant to Section 3(c)(M), any disposition of Registrable Securities pursuant to the Resale Registration Statement and Prospectus, or any amendments or supplements thereto, as contemplated herein during (i) any period not to exceed two 30-day periods within any one 12-month period the Company requires in connection with a primary underwritten offering of equity securities and (ii) any period, not to exceed one 45-day period per circumstance or development, when the Company determines in good faith that offers and sales pursuant thereto should not be made by reason of the presence of material undisclosed circumstances or developments with respect to which the disclosure that would be required in such a prospectus is premature, would have an adverse effect on the Company or is otherwise inadvisable; provided, however, the aggregate number of days that such suspensions and any suspensions under Section 3(c)(M) may apply during any 365-day period is 90 days. In the event of a delay period or suspension, the Company will use its commercially reasonable best efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. Nothing in this Section 9 shall operate to extend the Effectiveness Date.
Delay Periods; Suspension of Sales. (i) If, at any time prior to the expiration of the Registration Period (as defined below), in the good faith reasonable judgment of the Company's Board of Directors, the disposition of Registrable Securities pursuant to the Registration Statement would require the premature disclosure of material non-public information which may reasonably be expected to have an adverse effect on the Company, then the Company shall not be required to maintain the effectiveness of or amend or supplement the Registration Statement for a period (a "Disclosure Delay Period") expiring upon the earlier to occur of (i) the date on which such material information is disclosed to the public or ceases to be material or (ii) subject to Section 3(g)(ii) below, up to twenty (20) days after the date on which the Company provides a notice to the Investors under Section 3(e) hereof stating that the failure to disclose such non-public information causes the prospectus included in the Registration Statement, as then in effect, to include an untrue statement of a material fact or to omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading (each, a "Disclosure Delay Period Notice"). For the avoidance of doubt, in no event shall a Disclosure Delay Period exceed twenty (20) days.
Delay Periods; Suspension of Sales. Each Holder shall suspend, upon request of Hybridon, any disposition of Registrable Securities pursuant to the Registration Statement and prospectus contemplated by Section 2 of this Article II during (i) any period not to exceed two 30-day periods within any one 12-month period Hybridon requires in connection with a primary underwritten offering of equity securities, and (ii) any period, not to exceed one 45-day period per circumstance or development, when Hybridon determines in good faith that offers and sales pursuant thereto should not be made by reason of the presence of material undisclosed circumstances or developments with respect to which the disclosure that would be required in such a prospectus is premature, would have an adverse effect on Hybridon or is otherwise inadvisable (a "Material Development Condition"). In connection therewith, Hybridon may also (x) cause the Registration Statement to be withdrawn and the effectiveness of the Registration Statement terminated, or (y) in the event no Registration Statement has yet been filed, to delay filing any such Registration Statement, until the earlier of (a) in the good faith judgment of Hybridon, such Material Development Condition no longer exists (notice of which Hybridon shall promptly deliver to each Holder of Registrable Securities) and (b) the expiration of Hybridon's right to cause the suspension of disposition of Registrable Securities pursuant to the first sentence of this Section 5 of Article II, provided, however, in the event a Registration Statement is filed and subsequently withdrawn by reason of any existing or anticipated Material Development Condition as hereinbefore provided, Hybridon shall cause a new Registration Statement covering the Registrable Securities to be filed with the Commission as soon as such Material Development Condition expires or, if sooner, as soon as Hybridon's right to cause the suspension of disposition of Registrable Securities pursuant to the first sentence of this Section 5 of Article II expires.
Delay Periods; Suspension of Sales. Each Holder shall suspend, upon request of the Company, any disposition of Registrable Securities pursuant to the Registration Statement and Prospectus contemplated herein during (i) any period not to exceed two 30-day periods within any one 12-month period the Company requires in connection with a primary underwritten offering of equity securities and (ii) any period, not to exceed one 45-day period per circumstance or development, when the Company determines in good faith that offers and sales pursuant thereto should not be made by reason of the presence of material undisclosed circumstances or developments with respect to which the disclosure that would be required in such a prospectus is premature, would have an adverse effect on the Company or is otherwise inadvisable.
Delay Periods; Suspension of Sales. (a) If at any time prior to the Expiration Date, the Corporation determines that compliance by the Corporation with its disclosure obligations in connection with a Registration Statement may require the disclosure of information which the Board of Directors of the Corporation has Identified as material and which the Board of Directors has determined that the Corporation has a bona fide business purpose for preserving as confidential, then the Corporation shall not be required to maintain the effectiveness of or amend or supplement the Registration Statement for a period (an "Information Delay Period") expiring three business days after the earlier to occur of (A) the date on which such material information is disclosed to the public or ceases to be material or the Corporation is able to so comply with its disclosure obligations and Commission requirements or (B) 45 days after the Corporation notifies the Holders of such determination. There shall not be more than four Information Delay Periods, and there shall not be two Information Delay Periods during any contiguous 135 day period.
Delay Periods; Suspension of Sales a. If, at any time prior to the expiration of the Registration Period (as defined below), if in the good faith reasonable judgment of the Company's Board of Directors, the disposition of Registrable Securities would require the premature disclosure of material nonpublic information which may reasonably be expected to have an adverse effect on the Company, then the Company shall not be required to maintain the effectiveness thereof or amend or supplement the Registration Statement for a period (a "DISCLOSURE DELAY PERIOD") expiring upon the earlier to occur of (i) the date on which such material information is disclosed to the public or ceases to be material or (ii) ten (10) business days after the Company provides a notice to the Investors under Section 4(f) hereof that the failure to disclose such nonpublic information causes the prospectus included in the Registration Statement, as then in effect, to include an untrue statement of a material fact or to omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading.
Delay Periods; Suspension of Sales. Each Holder shall suspend, upon request of the Company, any disposition of Registrable Securities pursuant to the Resale Registration Statement and Prospectus contemplated herein during (i) any period not to exceed two 30-day periods within any one 12-month period the Company requires in connection with a primary underwritten offering of equity securities and (ii) any period, not to exceed one 45-day period per circumstance or development, when the Company determines in good faith that offers and sales pursuant thereto should not be made by reason of the presence of material undisclosed circumstances or developments with respect to which the disclosure that would be required in such a prospectus is premature, would have an adverse effect on the Company or is otherwise inadvisable; provided, however, the aggregate number of days that such suspensions may apply during any 365-day period is 90 days. In the event of a delay period or suspension, the Company will use its commercially reasonable best efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. Nothing in this Section 9 shall operate to extend the Effectiveness Date.
Delay Periods; Suspension of Sales. Each Holder shall suspend, upon request of the Company, any disposition of Registrable Securities pursuant to the Registration Statement and prospectus contemplated by Section 12.2 during (i) any period not to exceed two 30-day periods within any one 12-month period the Company requires in connection with a primary underwritten offering of equity securities and (ii) any period, not to exceed one 45-day period per circumstance or development, when the Company determines in good faith that offers and sales pursuant thereto should not be made by reason of the presence of material undisclosed circumstances or developments with respect to which the disclosure that would be required in such a prospectus is premature, would have an adverse effect on the Company or is otherwise inadvisable; provided that the Company makes such determination and applies such halts of offers and sales uniformly and universally to all Persons then offering shares of Common Stock pursuant to effective Registration Statements (including Registration Statements on Forms S-4 and S-8).
Delay Periods; Suspension of Sales
