The Hawaii Registration Rights Agreement is a legal document that pertains to the purchase of convertible subordinated debentures within the jurisdiction of Hawaii. This agreement outlines the rights and obligations of both the issuer of the debentures and the holder of the debentures with regard to the registration and subsequent sale of the securities. The purpose of the Hawaii Registration Rights Agreement is to establish a framework for the registration process, which allows the holder of the debentures to freely sell or transfer their securities to the public. It ensures that the issuer complies with the applicable securities laws and regulations, providing transparency and protection for investors. There are several types of Hawaii Registration Rights Agreements that may be specific to the purchase of convertible subordinated debentures. These include: 1. Demand Registration Rights: This type of agreement grants the debenture holder the right to request the issuer to register the debentures for sale to the public. The debenture holder specifies the required terms and conditions for the registration, such as the number of debentures to be registered, timing, and expenses. 2. Piggyback Registration Rights: With this type of agreement, the debenture holder has the right to include their debentures in a registration statement filed by the issuer for another offering of securities. This allows them to "piggyback" on the issuer's registration, thereby gaining access to favorable terms and efficiencies. 3. Shelf Registration Rights: In a shelf registration agreement, the debenture holder gains the right to request the issuer to include their debentures in a shelf registration statement. This enables the holder to have their debentures registered in advance, ensuring they can be quickly and easily sold when the market conditions are favorable. These different types of Hawaii Registration Rights Agreements provide flexibility and options for the debenture holders to register and sell their securities in accordance with their specific needs and market conditions. In summary, the Hawaii Registration Rights Agreement for the purchase of convertible subordinated debentures is a comprehensive legal document that ensures compliance with securities laws, and defines the rights of the debenture holder and the obligations of the issuer. By offering various types of registration rights, such as demand, piggyback, and shelf registration, the agreement facilitates the sale and transfer of the debentures in a manner that maximizes the convenience and benefits for the holder.