Registerable Amount definition
Registerable Amount means the maximum number of shares of common stock of E-Wash issued to the Employee in exchange for the Units granted under this Agreement which the Employee is eligible to sell in any registration covered by this Section 6. The Registerable Amount is expressed as a fraction, the numerator of which will be the number of shares issued to Employee in exchange for the Units granted under this Agreement and held by the Employee at the time of the public registration and the denominator of which shall be the number of shares of such
Registerable Amount means the maximum number of shares of common stock of E-Wash issued to the Employee in exchange for the Units granted under this Agreement which the Employee is eligible to sell in any registration covered by this Section 6. The Registerable Amount is expressed as a fraction, the numerator of which will be the number of shares issued to Employee in exchange for the Units granted under this Agreement and held by the Employee at the time of the public registration and the denominator of which shall be the number of shares of such common stock held by other holders of common stock having registration rights pari passu with the Employee's rights. If the registration is an underwritten registration, and the managing underwriter gives written notice to E-Wash that in its reasonable opinion the number of shares of common stock of E-Wash to be included in the registration should be less than the aggregate number of shares of common stock that E-Wash, the Employee and all other eligible holders of such common stock have proposed to include in such registration, then E-Wash shall have first priority to include in such registration all shares of common stock it proposes to register. If such amount does not exceed the maximum number of shares which the underwriter has reasonably determined can be registered in the offering, then the remaining number of shares (the "Available Amount") shall be allocated among the Employee and the other holders of common stock proposing to register securities in the offering by multiplying the Available Amount by a fraction, the numerator of which shall be the number of shares each of the eligible participants owns and the denominator of which is the total number of shares owned by all eligible participants. E-Wash shall have the exclusive right to select the managing underwriters in such registration. For the purposes of this paragraph (b), if there is no underwriter for an offering, then the determinations to be reasonably made by the managing underwriter hereunder shall be made by the E-Wash board of directors.
Examples of Registerable Amount in a sentence
For the purpose of this Section 6, the "Registerable Amount" means the maximum number of shares of common stock of E-Wash issued to the Employee in exchange for the Units granted under this Agreement which the Employee is eligible to sell in any registration covered by this Section 6.
The Registerable Amount is expressed as a fraction, the numerator of which will be the number of shares issued to Employee in exchange for the Units granted under this Agreement and held by the Employee at the time of the public registration and the denominator of which shall be the number of shares of such common stock held by other holders of common stock having registration rights pari passu with the Employee's rights.