A Texas Registration Rights Agreement is a legal document that governs the registration process for the sale of common shares of Visible Genetics, Inc. to its purchasers. This agreement ensures that the purchasers have the right to register their shares with the appropriate regulatory bodies to facilitate their sale or transfer. The Texas Registration Rights Agreement outlines the rights and obligations of both Visible Genetics, Inc. and the purchasers, safeguarding their respective interests. It allows the purchasers to request registration of their shares on a registration statement filed by the company or to sell their shares directly in compliance with applicable securities laws. Under this agreement, Visible Genetics, Inc. may be obligated to cover the costs associated with the registration process, including filing fees and legal expenses. The agreement may also include provisions related to the timing of the registration, disclosure requirements, and the obligations of both parties to cooperate with each other during the registration process. There can be various types of Texas Registration Rights Agreements between Visible Genetics, Inc. and the purchasers of common shares, including: 1. Demand Registration Rights: This type of agreement grants the purchasers the right to request Visible Genetics, Inc. to file a registration statement with the Securities and Exchange Commission (SEC) to register their shares for sale. The company is obligated to fulfill this request within a specified period, subject to certain conditions. 2. Piggyback Registration Rights: With piggyback registration rights, the purchasers have the ability to have their shares included in a registration statement that Visible Genetics, Inc. files for other purposes, such as a public offering or the registration of other shareholders' shares. This allows the purchasers to take advantage of the company's existing registration efforts. 3. Shelf Registration Rights: In a shelf registration agreement, Visible Genetics, Inc. agrees to file a registration statement that enables the purchasers to sell their shares over time, rather than requiring them to be continuously registered. The purchasers can then offer their shares for sale periodically, giving them greater flexibility. 4. Form S-3 Registration Rights: This type of agreement allows the purchasers to request registration on Form S-3, a simplified registration statement that is available to companies that meet specific eligibility requirements. Form S-3 provides a faster and more streamlined registration process for successive sales or offerings. It is important to note that the specific terms and conditions of a Texas Registration Rights Agreement may vary depending on the negotiations between Visible Genetics, Inc. and the purchasers. The purpose of such an agreement is to provide legal certainty and protection for both parties in their common shares' registration and sale activities.