The District of Columbia Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares of the company is a legally binding document that outlines the rights and obligations of both parties in relation to the registration of securities with the Securities and Exchange Commission (SEC) in the District of Columbia. This agreement ensures that investors who hold common shares of Visible Genetics, Inc. have the opportunity to register and freely trade their shares in compliance with applicable securities laws in the District of Columbia. The agreement provides certain key provisions that protect the rights of the purchasers of common shares. It generally grants the investors the right to request registration of their shares with the SEC, allowing them to sell or transfer their shares to other parties. Additionally, the agreement often includes provisions that require Visible Genetics, Inc. to provide the necessary assistance and cooperation to complete the registration process. To ensure that the registration process is fair, the agreement may also specify details regarding the timing and procedures for requesting registration, as well as any limitations on the number of shares that can be registered at one time. This helps to prevent overwhelming registration requests that may hinder the company's resources or adversely affect the market. While the District of Columbia Registration Rights Agreement generally refers to the main agreement between Visible Genetics, Inc. and the purchasers of common shares, there may be different types or variations of this agreement. Some potential variations can include piggyback registration rights, demand registration rights, or a combination of both. Piggyback registration rights allow the investors to include their shares in a registration statement filed by Visible Genetics, Inc. This means that whenever the company files a registration statement for its shares either for an initial public offering or any other offering, the investors have the right to request that their shares be included in the registration. This enables the investors to benefit from the company's registration efforts and have their shares registered without incurring additional expenses. On the other hand, demand registration rights give the investors the ability to require Visible Genetics, Inc. to file a registration statement specifically for their shares upon their request. This allows the investors to initiate the registration process and ensures that their shares become freely tradable when they desire. Demand registration rights are typically subject to certain conditions, such as minimum thresholds or waiting periods, to protect the company from unnecessary or excessive registration requests. It is important to note that the specific terms and conditions of the District of Columbia Registration Rights Agreement may vary depending on the negotiation between Visible Genetics, Inc. and the purchasers of common shares. Therefore, it is crucial for both parties to carefully review and understand the agreement before entering into any transactions involving the registration of securities.
District of Columbia Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares of the company
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