Puerto Rico Registration Rights Agreement is a legally binding contract between Visible Genetics, Inc. (hereafter referred to as "the Company") and the purchasers of common shares of the company, based in Puerto Rico. This agreement outlines the rights and responsibilities associated with the registration of these common shares with the relevant regulatory bodies in Puerto Rico. Keywords: Puerto Rico, Registration Rights Agreement, Visible Genetics, Inc., common shares, purchasers, contract, rights, responsibilities, regulatory bodies. The Puerto Rico Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares of the company serves to protect the interests of both parties involved. It ensures that the purchasers have the right to request registration of their shares with the relevant authorities, allowing them to freely trade or transfer their shares in compliance with Puerto Rican regulations. At the same time, the Company agrees to facilitate this registration process and provide necessary support to ensure compliance. The agreement typically includes provisions defining the scope and conditions of registration, timelines for filing, and the responsibilities of each party. It may also outline any restrictions on the transfer or sale of shares and the procedures to be followed in case of non-compliance or breach of the agreement. Different types of Puerto Rico Registration Rights Agreements may exist between Visible Genetics, Inc. and the purchasers of common shares, depending on the specific terms agreed upon by the parties involved. These agreements could include: 1. Demand Registration Rights: This type of agreement allows the purchasers to request that the Company file a registration statement, subject to certain conditions and qualifications, enabling the sale or transfer of their common shares in the Puerto Rican market. 2. Piggyback Registration Rights: In this scenario, if the Company decides to register any of its shares, either for its own purposes or on behalf of another group of shareholders, the purchasers with piggyback registration rights can include their shares in the registration statement. This allows them to benefit from the registration process without having to initiate it separately. 3. Shelf Registration Rights: In some cases, the agreement may grant the purchasers the ability to register their common shares for potential future sales without the need for immediate registration. This allows flexibility in timing the share offering while ensuring compliance with relevant Puerto Rican regulations. Note that the specific terms and conditions of the Puerto Rico Registration Rights Agreement may vary between different companies and purchasers, and legal advice should be sought to ascertain the exact nature of the agreement and its implications. In conclusion, the Puerto Rico Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares serves as a framework to facilitate the registration process, ensuring compliance with the regulatory bodies in Puerto Rico. The agreement outlines the rights and responsibilities of both parties, creating a fair and transparent environment for the trading and transfer of common shares.
Puerto Rico Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares of the company
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An Investor Rights Agreement (IRA) is an agreement between an investor and a company that contractually guarantees the investor certain rights including, but not limited to, voting rights, inspection rights, rights of first refusal, and observer rights.
Demand registration rights, where an investor can force a company to file a registration statement to register the holder's securities so the investor can sell them in the public market without restriction.
Related Content. In an unregistered securities offering, an agreement between the issuer and the purchasers of the security that creates an obligation for the issuer to register the re-offer and resale of the securities being offered at some time in the future (usually within six months).
?Definition? A registration rights provision in a term sheet allows an investor to require a company to register the investor's shares with the SEC when certain conditions are met, ensuring that the investor has the opportunity to sell their shares in the public market.
In an unregistered securities offering, an agreement between the issuer and the purchasers of the security that creates an obligation for the issuer to register the re-offer and resale of the securities being offered at some time in the future (usually within six months).