Loeb. At any time and from time to time subsequent to 180 days after the date of and prior to five years from the date of the Initial Public Offering, upon the written request of Loeb that the Company effect the Registration under the Securities Act (such a written request being hereinafter referred to as a “Loeb Demand Registration Request”) of any of the Registrable Securities held by Loeb, the Company will promptly give written notice to the Holders that a Loeb Demand Registration has been received. For a period of 15 days following delivery of such notice, the Holders may request that the Company also register their Registrable Securities and after the expiration of such 15 day period, the Company shall notify all Holders of the number of Registrable Securities to be registered. Thereupon, the Company will use its reasonable best efforts to cause the prompt Registration under the Securities Act, subject to the provisions of this Agreement, of all Registrable Securities which the Holders thereof have requested the Company to register (a “Loeb Demand Registration”), and in connection therewith, prepare and file on such appropriate form as the Company, in its reasonable discretion, shall determine, a Registration Statement under the Securities Act to effect such Registration. Loeb may, at any time prior to the Effective Date of the Registration Statement relating to such Registration, revoke such request, without liability to any of the other Holders, by providing a written notice to the Company revoking such request; provided, however, that this shall still count as a Demand Registration unless the such holders of Registrable Securities pay all Registration Expenses in connection with such Registration.
