Common use of IPO Lock-Up Clause in Contracts

IPO Lock-Up. In connection with any initial public offering of the Common Stock, so long as (a) the Investors beneficially own in the aggregate at least 5% of the Common Stock (calculated in accordance with Rule 13d-3 under the Exchange Act), (b) the Investors are requested by the managing underwriter of such initial public offering and (c) each other director who beneficially owns Common Stock enters into a "lock-up" agreement of at least 90 days, each Investor agrees to enter into a similar "lock-up" agreement with the underwriters of such offering containing customary terms and conditions and restricting sales of Common Stock and other securities convertible into or exercisable for Common Stock and certain other transactions having an equivalent economic effect for a period of up to 90 days following the date of such offering.

IPO Lock-Up. In connection with any initial public offering of the Common Stock, so long as (ai) the Investors Purchasers beneficially own in the aggregate at least 5% of the Common Stock (calculated in accordance with Rule 13d-3 13d under the Exchange Act), ) (bii) the Investors Purchasers are requested by the managing underwriter of such initial public offering and (ciii) each other director who beneficially owns Common Stock enters into a "lock-up" agreement of at least 90 days, each Investor Purchaser agrees to enter into a similar "lock-up" agreement with the underwriters of such offering containing customary terms and conditions and restricting sales of Common Stock and other securities convertible into or exercisable for Common Stock and certain other transactions having an equivalent economic effect for a period of up to 90 days following the date of such offering.