Common use of Subsequent Holders Clause in Contracts

Subsequent Holders. Any person who acquires Registrable Securities from the Subscriber in a transaction that is permitted under Section 10 of this Subscription Agreement and that does not result in such person receiving securities which are free of restrictions on transfer in the United States and to U.S. Persons, such person shall be entitled to the benefit of all of the rights and privileges set forth in this Section 9, provided that such person agrees in a writing to the Company to undertake all of the obligations of the Subscriber under this Section 9.