Common use of Restrictions on Sale Clause in Contracts

Restrictions on Sale. In the event of an underwritten public offering for the account of the Company, upon the written request (the "Lock-up Request") of the managing underwriter (or underwriters) of such offering, each Holder agrees not to effect any public sale or distribution of any securities similar to those being registered in such offering (other than pursuant to such offering), including, without limitation, through sales of Registrable Securities pursuant to a registration statement, during the 14 days prior to, and during the 180-day period beginning on the effective date of the registration statement relating to such offering (the "Lock-up Period"); provided, however, that the Holders shall not be required to comply with such Lock-up Request unless the Company simultaneously demands analogous restrictions on sale and uses all reasonable efforts to obtain from all other persons who are contractually bound with the Company to comply with such Lock-up Requests and from the Company's directors. In the event of the delivery of a Lock-up Request, the time periods for which a registration statement is required to be kept effective pursuant to Section 4(b) hereof shall be extended by the number of days during the Lock-up Period.

Appears in 6 contracts

Samples: Subscription Agreement (U Ship Inc), Subscription Agreement (United Shipping & Technology Inc), Subscription Agreement (United Shipping & Technology Inc)

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Restrictions on Sale. In the event of an underwritten public offering for the account of the CompanyDAKA, upon the written request (the "Lock-up Request") of the managing underwriter (or underwriters) of such offering, each Holder agrees not to effect any public sale or distribution of any securities similar to those being registered in such offering (other than pursuant to such offering), including, without limitation, through sales of Registrable Securities pursuant to a registration statementResale Registration Statement, during the 14 days prior to, and during the 18090-day period beginning on the effective date of the registration statement Registration Statement relating to such offering (the "Lock-up Period"); provided, however, that the Holders shall not be required to comply with such Lock-up Request unless the Company DAKA simultaneously demands analogous restrictions on sale and uses all reasonable efforts to obtain from all other persons who are contractually bound with the Company DAKA to comply with such Lock-up Requests and from the CompanyDAKA's directors. In the event of the delivery of a Lock-up Request, the time periods for which a registration statement Resale Registration Statement is required to be kept effective pursuant to Section 4(b) 8.02 hereof shall be extended by the number of days during the Lock-up Period.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Daka International Inc), Stock Purchase Agreement (Daka International Inc)

Restrictions on Sale. In the event of an underwritten public offering for the account of the Company, upon the written request (the "Lock-up Request") of the managing underwriter (or underwriters) of such offering, each Holder agrees not to effect any public sale or distribution of any securities similar to those being registered in such offering (other than pursuant to such offering), including, without limitation, through sales of Registrable Securities pursuant to a registration statement, during the 14 days prior to, and during the 1801810-day period beginning on the effective date of the registration statement relating to such offering (the "Lock-up Period"); provided, however, that the Holders shall not be required to comply with such Lock-up Request unless the Company simultaneously demands analogous restrictions on sale and uses all reasonable efforts to obtain from all other persons who are contractually bound with the Company to comply with such Lock-up Requests and from the Company's directors. In the event of the delivery of a Lock-up Request, the time periods for which a registration statement is required to be kept effective pursuant to Section 4(b) hereof shall be extended by the number of days during the Lock-up Period.

Appears in 1 contract

Samples: Subscription Agreement (U Ship Inc)

Restrictions on Sale. In the event of an underwritten public offering for the account of the Company, upon the written request (the "Lock-up Request") of the managing underwriter (or underwriters) of such offering, each Holder agrees not to effect any public sale or distribution of any securities similar to those being registered in such offering (other than pursuant to such offering), including, without limitation, through sales of Registrable Securities Shares pursuant to a registration statementResale Registration Statement, during the 14 days prior to, and during the 18090-day period beginning on the effective date of the registration statement Registration Statement relating to such offering (the "Lock-up Period"); provided, however, that the Holders shall not be required to comply with such Lock-up Request unless the Company simultaneously demands analogous restrictions on sale and uses all reasonable efforts to obtain from all other persons who are contractually bound with the Company to comply with such Lock-up Requests and from the Company's directors. In the event of the delivery of a Lock-up Request, the time periods for which a registration statement Resale Registration Statement is required to be kept effective pursuant to Section 4(b) hereof shall be extended by the number of days during the Lock-up Period.

Appears in 1 contract

Samples: Subscription Agreement (U Ship Inc)

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Restrictions on Sale. In the event of an underwritten public offering for the account of the Company, upon the written request (the "Lock-up Request") of the managing underwriter (or underwriters) of such offering, each Holder agrees not to effect any public sale or distribution of any securities similar to those being registered in such offering (other than pursuant to such offering), including, without limitation, through sales of Registrable Securities pursuant to a registration statementResale Registration Statement, during the 14 days prior to, and during the 18090-day period beginning on the effective date of the registration statement Registration Statement relating to such offering (the "Lock-up Period"); provided, however, that the Holders shall not be required to comply with such Lock-up Request unless the Company simultaneously demands analogous restrictions on sale and uses all reasonable efforts to obtain from all other persons who are contractually bound with the Company to comply with such Lock-up Requests and from the Company's directors. In the event of the delivery of a Lock-up Request, the time periods for which a registration statement Resale Registration Statement is required to be kept effective pursuant to Section 4(b) 9.02 hereof shall be extended by the number of days during the Lock-up Period.

Appears in 1 contract

Samples: Stock Purchase Agreement (Daka International Inc)

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