Common use of Exempt Sales Clause in Contracts

Exempt Sales. (a) The Company shall make all filings with the Securities and Exchange Commission required by Rule 144(c) (or any similar provision then in force) under the Securities Act to permit the sale of Registrable Shares by any holder thereof (other than an Affiliate of the Company) to satisfy the conditions of Rule 144 (or any similar provision then in force). The Company shall, promptly upon the written request of the holder of Registrable Shares, deliver to such holder a written statement as to whether the Company has complied with all such filing requirements. (b) Before sales of Registrable Shares or the Warrant proposed to be sold pursuant to an exemption from the registration requirements of the Securities Act, the Company shall, subject to Section 8(c), cooperate with the holder of such Registrable Shares or the Warrant, as the case may be, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing such Registrable Shares or Warrant, as the case may be, in connection with the closing of the sales and to enable such Registrable Shares or the Warrant, as the case may be, to be in such denominations and registered in such names as the holder may request.