The Salt Lake Utah Registration Rights Agreement is a legally binding document that outlines the rights and obligations of Visible Genetics, Inc. and purchasers of common shares of the company based in Salt Lake City, Utah. This Agreement grants the purchasers certain rights related to the registration of their common shares with the Securities and Exchange Commission (SEC). These registration rights enable the purchasers to have their shares publicly traded and offer more liquidity for their investments. Key terms and provisions covered in the Salt Lake Utah Registration Rights Agreement include: 1. Demand Registration: This provision allows the purchasers to require Visible Genetics, Inc. to undertake a registration statement with the SEC for the resale of their common shares. The demand can be made at any time, subject to certain conditions specified in the Agreement. 2. Piggyback Registration: Under this provision, if Visible Genetics, Inc. plans to register any of its securities with the SEC, the purchasers have the right to include their common shares in the registration statement. This allows them to sell their shares alongside the company's offering, benefiting from the enhanced marketability and efficiency of a registered offering. 3. S-3 Registration: If Visible Genetics, Inc. is eligible to use Form S-3 for securities offerings, the purchasers have the right to request the inclusion of their common shares in any such registration statements. Form S-3 generally provides a streamlined registration process for established issuers, making it easier for the purchasers to sell their shares. 4. Registration Expenses: The Agreement specifies which party will bear the registration expenses, such as legal and accounting fees, associated with registering the common shares. Typically, these expenses are the responsibility of Visible Genetics, Inc., unless stated otherwise in the agreement. 5. Lock-Up Agreements: The Salt Lake Utah Registration Rights Agreement may also include lock-up provisions, restricting the purchasers from selling their common shares for a specified period after an initial public offering or other significant events. This helps prevent excessive market volatility and maintain investor confidence. While the Salt Lake Utah Registration Rights Agreement primarily covers these general provisions, it's important to note that the exact terms and clauses may vary depending on the specific agreement negotiated between Visible Genetics, Inc. and the purchasers. Different types of Registration Rights Agreement may exist, each tailored to the needs and circumstances of the parties involved. In conclusion, the Salt Lake Utah Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares is a crucial legal document that establishes the rights and obligations of both parties regarding the registration and sale of common shares. It ensures transparency, fairness, and compliance with relevant securities laws, providing a framework for the purchasers to exercise their registration rights effectively.
Salt Lake Utah Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares of the company
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