Common use of Demand Offering Rights Clause in Contracts

Demand Offering Rights. Subject to the conditions of this Section 2.3, any Holder (in such capacity, the “Initiating Holder”) may request in writing (a “Demand Request”) that the Company undertake an Underwritten Offering (a “Demand Offering”); provided, however, that a Demand Offering may only be made if (i) the Registrable Securities requested to be registered by the Initiating Holder delivering the Demand Request have a Market Value of at least $30,000,000 on the trading day immediately preceding the date that the Demand Request is sent to the Company and (ii) it shall not cause the Holders to request more than two (2) Demand Offerings in any consecutive 12-month period. Following receipt of a Demand Request, the Company shall, within ten (10) days of the receipt thereof, give written notice of such request to all other Holders in accordance with Section 3.1 of this Agreement. Such other Holders shall then have up to ten (10) Business Days from the mailing of such notice by the Company to request inclusion of Registrable Securities in the Demand Offering, and, upon receipt of the request from such other Holders, the Company shall, subject to the limitations of Section 2.3(a)(i), use its commercially reasonable efforts to undertake and effect such Demand Offering as soon as practicable following the receipt of the notice from all such other Holders (“Accepting Holders” and, together with the Initiating Holder, the “Requesting Holders”).

Demand Offering Rights. Subject to the conditions of this Section 2.3, at any time after the first anniversary of the closing of the IPO, each of the ECP Fund Holders and Regiment (such ECP Holder (in such capacityor Regiment that initiates a Demand Request, the “Initiating Holder”) may request in writing (a “Demand Request”) that the Company undertake an Underwritten Offering (a “Demand Offering”); provided, howeverthe anticipated aggregate offering price, that a Demand Offering may only be made if (i) the Registrable Securities requested to be registered by the Initiating Holder delivering the Demand Request have a Market Value net of at least underwriting discounts and commissions, of which is in excess of $30,000,000 on the trading day immediately preceding the date that the Demand Request is sent to the Company and (ii) it shall not cause the Holders to request more than two (2) Demand Offerings in any consecutive 12-month period15,000,000. Following receipt of a Demand Request, the Company shall, shall within ten (10) days of the receipt thereof, give written notice of such request to all other Holders in accordance with Section 3.1 of this Agreement. Such other Holders shall then have up to ten (10) Business Days from the mailing of such notice by the Company to request inclusion of Registrable Securities in the Demand Offering, and, upon receipt of the request from such other Holders, the Company shall, subject to the limitations of Section 2.3(a)(i), use its commercially reasonable best efforts to undertake and effect such Demand Offering as soon as practicable possible following the receipt of the notice from all such other Holders (“Accepting Holders” and, and together with the Initiating HolderHolders, the “Requesting Holders”), to undertake and effect such Demand Offering.

Demand Offering Rights. Subject to the conditions of this Section 2.3, at any time after the six-month anniversary of the closing of the IPO, each Holder (in or one or more Holders) (such capacityHolder(s) that initiate(s) a Demand Request, the “Initiating HolderHolder(s)”) may request in writing (a “Demand Request”) that the Company undertake an Underwritten Offering (a “Demand Offering”); provided, howeverthe anticipated aggregate offering price, that a Demand Offering may only be made if (i) the Registrable Securities requested to be registered by the Initiating Holder delivering the Demand Request have a Market Value net of at least underwriting discounts and commissions, of which is in excess of $30,000,000 on the trading day immediately preceding the date that the Demand Request is sent to the Company and (ii) it shall not cause the Holders to request more than two (2) Demand Offerings in any consecutive 12-month period15,000,000. Following receipt of a Demand Request, the Company shall, within ten (10) days of the receipt thereof, give written notice of such request to all other Holders in accordance with Section 3.1 of this Agreement. Such other Holders shall then have up to ten (10) Business Days from the mailing of such notice by the Company to request inclusion of Registrable Securities in the Demand Offering, and, upon receipt of the request from such other Holders, the Company shall, subject to the limitations of Section 2.3(a)(i), use its commercially reasonable best efforts to undertake and effect such Demand Offering to, as soon as practicable possible following the receipt of the notice from all such other Holders (“Accepting Holders” and, and together with the Initiating HolderHolders, the “Requesting Holders”), undertake and effect such Demand Offering.