Common use of Termination of the Company’s Obligation Clause in Contracts

Termination of the Company’s Obligation. The Company shall have no obligation pursuant to this Agreement with respect to any Continuing Investor Registrable Shares proposed to be sold by a Holder in a registration pursuant to this Agreement if, (a) in the opinion of counsel to the Company, (i) all such Continuing Investor Registrable Shares proposed to be sold by a Holder may be sold in a single transaction without registration under the Securities Act pursuant to Rule 144, (ii) the Company has become subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act for a period of at least ninety (90) days and is current in the filing of all such required reports and (iii) the Continuing Investor Registrable Shares have been listed for trading on a National Securities Exchange or (b) no Continuing Investor Registrable Shares remain outstanding or issuable.

Termination of the Company’s Obligation. The Company shall have no obligation pursuant to this Agreement with respect to any Continuing Investor Registrable Shares proposed to be sold by a Holder in a registration pursuant to this Agreement or with respect to Section 3 hereof if, (a) in the opinion of counsel to the Company, (i) all such Continuing Investor Registrable Shares proposed to be sold by a Holder may be sold in a single transaction without registration under the Securities Act pursuant to Rule 144, (ii) the Company has become subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act for a period of at least ninety (90) days and is current in the filing of all such required reports and (iii) the Continuing Investor Registrable Shares have been listed for trading on a National Securities Exchange or (b) no Continuing Investor Registrable Shares remain outstanding or issuable.