Common use of IPO Lockup Clause in Contracts

IPO Lockup. In connection with the initial public offering of the Company’s securities in an underwritten offering under the Securities Act, and upon request of the Company or the underwriters managing such offering, Holder agrees not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any securities of the Company held immediately prior to the effectiveness of the registration statement for such offering (other than those included in the registration) without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed 180 days or such longer period of time as may be required to comply with Rule 2711 of the Financial Industry Regulatory Authority, Inc. (or any successor rule thereto)) from the effective date of such registration statement as may be requested by the Company or such managing underwriters and to execute an agreement reflecting the foregoing as may be requested by the underwriters at the time of the Company’s initial public offering; provided that any such period of time shall not exceed the shortest period of time applicable to the Company’s officers and other investors.