Illinois Registration Rights Agreement between Turnstone Systems, Inc. and purchaser

• Category: Corporations - Public - Rights
• State: Multi-State
• Control #: US-EG-9136
• Format: Word; Rich Text

Description

Registration Rights Agreement dated January 12, 1998. 23 pages At Turn stone Systems, Inc. in Illinois, the company offers a comprehensive Illinois Registration Rights Agreement to purchasers/partners, ensuring transparency and protection for both parties involved. This legally binding agreement establishes the rights and responsibilities surrounding the registration of securities issued by Turn stone Systems, Inc. when the purchaser becomes a shareholder of the company. The Illinois Registration Rights Agreement provides purchasers with rights pertaining to the registration of their securities with the appropriate regulatory bodies in Illinois, usually the Illinois Securities and Exchange Commission. These registration rights aim to empower purchasers by allowing them to have their securities registered, thereby providing them with the opportunity to sell or transfer their shares under certain circumstances. The agreement outlines different types of registration rights, including: 1. Demand Registration Rights: This type of registration right allows the purchaser to request that Turn stone Systems, Inc. register their securities with the regulatory authorities upon reasonable notice. The company will then initiate the registration process, making it easier for the purchaser to sell their securities on the open market. 2. Piggyback Registration Rights: Under this provision, if Turn stone Systems, Inc. plans to file a registration statement for its securities, the purchaser has the right to include their securities in the registration statement. This gives the purchaser the opportunity to register and sell their securities alongside the company's offering. 3. Shelf Registration Rights: This type of registration right grants the purchaser the ability to hold their securities and initiate the registration process at their convenience within a specified timeframe. Shelf registration allows the purchaser to sell their securities in an orderly manner over time, rather than being subject to the company's issuance schedule. The Illinois Registration Rights Agreement also includes important provisions concerning the company's obligations and responsibilities towards the registration process. It includes details on the timing of filings, financial statements, legal fees, and indemnification clauses to protect both Turn stone Systems, Inc. and the purchaser involved. In summary, the Illinois Registration Rights Agreement between Turn stone Systems, Inc. and the purchaser provides valuable protection and empowerment for shareholders. It ensures that purchasers have the necessary rights and opportunities to register and sell their securities, enabling them to have greater flexibility and control over their investments in the company. Through the various types of registration rights, Turn stone Systems, Inc. aims to foster a transparent and cooperative relationship with its shareholders in Illinois.

At Turn stone Systems, Inc. in Illinois, the company offers a comprehensive Illinois Registration Rights Agreement to purchasers/partners, ensuring transparency and protection for both parties involved. This legally binding agreement establishes the rights and responsibilities surrounding the registration of securities issued by Turn stone Systems, Inc. when the purchaser becomes a shareholder of the company. The Illinois Registration Rights Agreement provides purchasers with rights pertaining to the registration of their securities with the appropriate regulatory bodies in Illinois, usually the Illinois Securities and Exchange Commission. These registration rights aim to empower purchasers by allowing them to have their securities registered, thereby providing them with the opportunity to sell or transfer their shares under certain circumstances. The agreement outlines different types of registration rights, including: 1. Demand Registration Rights: This type of registration right allows the purchaser to request that Turn stone Systems, Inc. register their securities with the regulatory authorities upon reasonable notice. The company will then initiate the registration process, making it easier for the purchaser to sell their securities on the open market. 2. Piggyback Registration Rights: Under this provision, if Turn stone Systems, Inc. plans to file a registration statement for its securities, the purchaser has the right to include their securities in the registration statement. This gives the purchaser the opportunity to register and sell their securities alongside the company's offering. 3. Shelf Registration Rights: This type of registration right grants the purchaser the ability to hold their securities and initiate the registration process at their convenience within a specified timeframe. Shelf registration allows the purchaser to sell their securities in an orderly manner over time, rather than being subject to the company's issuance schedule. The Illinois Registration Rights Agreement also includes important provisions concerning the company's obligations and responsibilities towards the registration process. It includes details on the timing of filings, financial statements, legal fees, and indemnification clauses to protect both Turn stone Systems, Inc. and the purchaser involved. In summary, the Illinois Registration Rights Agreement between Turn stone Systems, Inc. and the purchaser provides valuable protection and empowerment for shareholders. It ensures that purchasers have the necessary rights and opportunities to register and sell their securities, enabling them to have greater flexibility and control over their investments in the company. Through the various types of registration rights, Turn stone Systems, Inc. aims to foster a transparent and cooperative relationship with its shareholders in Illinois.