Travis Texas Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares of the company

• Category: Corporations - Public - Rights
• State: Multi-State
• County: Travis
• Control #: US-EG-9209
• Format: Word; Rich Text

Description

Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares of the company (investors) regarding sale of shares dated December 14, 1999. 13 pages. The Travis Texas Registration Rights Agreement is a legally-binding contract between Visible Genetics, Inc. (the "Company") and the purchasers of common shares of the company. It outlines the rights and responsibilities of both parties in regard to the registration of these shares with the Travis Texas Securities and Exchange Commission (SEC). The primary purpose of this agreement is to ensure that the purchasers of common shares have the opportunity to register their shares for public sale, thereby providing them with liquidity and enabling them to freely trade their securities in the market. By registering the shares with the SEC, the shareholders can sell their securities without violating any securities laws. One of the essential provisions of the Travis Texas Registration Rights Agreement is the piggyback registration right. This right allows the purchasers of common shares to "piggyback" on any registration initiated by the Company. In other words, if the Company decides to conduct an initial public offering (IPO) or register any of its securities with the SEC, the purchasers have the right to include their shares in the registration. This provision is particularly beneficial to the purchasers as it can save them costs and efforts associated with conducting a separate registration process. There may be instances where the purchasers of common shares wish to initiate their own registration process independently of the Company. In such cases, the agreement may include a demand registration right. This right enables the purchasers to request that the Company registers their shares with the SEC. The Company must then comply with this demand within a specified timeframe, subject to certain conditions as outlined in the agreement. Additionally, there might be cases where the purchasers want to sell their shares to a third party or transfer them to another party. The agreement may provide for the assignment of registration rights, allowing the purchasers to transfer their registration rights along with the shares. This provision ensures that the purchasers' rights are not restricted when they wish to sell or transfer their securities. Furthermore, the agreement may also outline various procedural aspects of the registration process. It could specify the responsibilities of both parties, the timing of filings, the allocation of registration expenses, and any limitations or restrictions on the number of shares that can be registered at once. Overall, the Travis Texas Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares serves to protect the interests of these shareholders and facilitate the liquidity of their investments. By granting registration rights, the agreement allows the purchasers to participate in the public market while ensuring compliance with securities regulations.

The Travis Texas Registration Rights Agreement is a legally-binding contract between Visible Genetics, Inc. (the "Company") and the purchasers of common shares of the company. It outlines the rights and responsibilities of both parties in regard to the registration of these shares with the Travis Texas Securities and Exchange Commission (SEC). The primary purpose of this agreement is to ensure that the purchasers of common shares have the opportunity to register their shares for public sale, thereby providing them with liquidity and enabling them to freely trade their securities in the market. By registering the shares with the SEC, the shareholders can sell their securities without violating any securities laws. One of the essential provisions of the Travis Texas Registration Rights Agreement is the piggyback registration right. This right allows the purchasers of common shares to "piggyback" on any registration initiated by the Company. In other words, if the Company decides to conduct an initial public offering (IPO) or register any of its securities with the SEC, the purchasers have the right to include their shares in the registration. This provision is particularly beneficial to the purchasers as it can save them costs and efforts associated with conducting a separate registration process. There may be instances where the purchasers of common shares wish to initiate their own registration process independently of the Company. In such cases, the agreement may include a demand registration right. This right enables the purchasers to request that the Company registers their shares with the SEC. The Company must then comply with this demand within a specified timeframe, subject to certain conditions as outlined in the agreement. Additionally, there might be cases where the purchasers want to sell their shares to a third party or transfer them to another party. The agreement may provide for the assignment of registration rights, allowing the purchasers to transfer their registration rights along with the shares. This provision ensures that the purchasers' rights are not restricted when they wish to sell or transfer their securities. Furthermore, the agreement may also outline various procedural aspects of the registration process. It could specify the responsibilities of both parties, the timing of filings, the allocation of registration expenses, and any limitations or restrictions on the number of shares that can be registered at once. Overall, the Travis Texas Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares serves to protect the interests of these shareholders and facilitate the liquidity of their investments. By granting registration rights, the agreement allows the purchasers to participate in the public market while ensuring compliance with securities regulations.