Common use of Demand Requests Clause in Contracts

Demand Requests. At any time following the six (6) month anniversary of the date on which the Company has completed an initial public offering pursuant to an effective Registration Statement under the Securities Act (an "IPO"), a Holder or Holders, as the case may be, holding individually or in the aggregate not less than five percent (5%) of the issued and outstanding Common Stock shall have the right to request (each, individually, a "REQUESTING HOLDER" and, collectively, the "REQUESTING HOLDERS") in writing that the Company effect a registration under the Securities Act with respect to all or part of the Registrable Securities held by such Requesting Holder(s) (a "DEMAND REGISTRATION"), provided the anticipated aggregate offering price to the public (before deduction of underwriting discounts and expenses of sale) is not less than US$7.5 million. The Requesting Holders shall deliver to the Company a written request for a Demand Registration (a "DEMAND REQUEST") in accordance with Section 12.1 that specifies the number of shares and the methods by which each Requesting Holder intends to sell or dispose of such Registrable Securities (including whether the Requesting Holder intends to distribute the Registrable Securities by means of an underwritten offering).

Demand Requests. At any time following the six (6) month anniversary of the date on which the Company has completed an initial public offering pursuant to an effective Registration Statement under the Securities Act (an "IPO"), a Holder or Holders, as the case may be, holding individually or in the aggregate not less than five percent (5%) of the issued and outstanding Common Stock shall have the right to request (each, individually, a "REQUESTING HOLDERRequesting Holder" and, collectively, the "REQUESTING HOLDERSRequesting Holders") in writing that the Company effect a registration under the Securities Act with respect to all or part of the Registrable Securities held by such Requesting Holder(s) (a "DEMAND REGISTRATIONDemand Registration"), provided the anticipated aggregate offering price to the public (before deduction of underwriting discounts and expenses of sale) is not less than US$7.5 million. The Requesting Holders shall deliver to the Company a written request for a Demand Registration (a "DEMAND REQUESTDemand Request") in accordance with Section 12.1 that specifies the number of shares and the methods by which each Requesting Holder intends to sell or dispose of such Registrable Securities (including whether the Requesting Holder intends to distribute the Registrable Securities by means of an underwritten offering).