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Registration Rights Agreement

 

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Title:

Registration Rights Agreement

Entities:

Paid Inc

Date:

2001

Size:

Preview shows 4KB of 62KB total

Price:

$46

ID:

#1238462

 

 

► Corporate ► Rights ► Registration Rights Agreements

 

 

Start of Preview


                          REGISTRATION RIGHTS AGREEMENT


This Registration Rights Agreement (this "Agreement") is made as of
November 7, 2001, between Sales Online Direct, Inc., a corporation organized
under the laws of the State of Delaware, U.S.A., with headquarters located at 4
Brussels Street, Worcester, Massachusetts 01610 (the "Company") and Augustine
Fund, L.P., an Illinois limited partnership, ("Holder"). This Agreement is being
entered into pursuant to that certain Loan Agreement, dated as of the date
hereof, between the Company and the Holders (the "Loan Agreement").

The Company and the Holders hereby agree as follows:

1. Definitions

Capitalized terms used and not otherwise defined herein shall have the
meanings given such terms in the Loan Agreement. As used in this Agreement, the
following terms shall have the following meanings:

"Advice" shall have the meaning set forth in Section 3(m).

"Affiliate" means, with respect to any Person, any other Person that
directly or indirectly controls or is controlled by or under common control with
such Person. For the purposes of this definition, "control," when used with
respect to any Person, means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of such Person,
whether through the ownership of voting securities, by contract or otherwise;
and the terms of "affiliated," "controlling" and "controlled" have meanings
correlative to the foregoing.

"Blackout Period" shall have the meaning set forth in Section 3(n).

"Board" shall have the meaning set forth in Section 3(n).

"Business Day" means any day except Saturday, Sunday and any day which
shall be a legal holiday or a day on which banking institutions in the State of
New York generally are authorized or required by law or other government actions
to close.

"Commission" means the Securities and Exchange Commission.

"Common Stock" means the Company's common stock, $.001 value per share.

"Convertible Notes" means those certain Convertible Promissory Notes of the
Company issued to the Lender pursuant to the Loan Agreement.

"Effectiveness Date" means, with respect to the Registration Statement, the
240th day following the Closing Date.

"Effectiveness Period" shall have the meaning set forth in Section 2(a).

"Exchange Act" means the Securities Exchange Act of 1934, as amended.

"Filing Date" means the 180th day following the Closing Date.

"Holder" or "Holders" means the holder or holders, as the case may be, from
time to time of Registrable Securities.

"Indemnified Party" shall have the meaning set forth in Section 5(c).

<PAGE>

"Indemnifying Party" shall have the meaning set forth in Section 5(c).

"Losses" shall have the meaning set forth in Section 5(a).

"OTC Bulletin Board" shall mean the over-the-counter electronic bulletin
board market or exchange.

"Person" means an individual or a corporation, partnership, trust,
incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or political subdivision
thereof) or other entity of any kind.

"Proceeding" means an action, claim, suit, investigation or proceeding
(including, without limitation, an investigation or partial proceeding, such as
a deposition), whether commenced or threatened.

"Prospectus" means the prospectus included in the Registration Statement
(including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration
statement in reliance upon Rule 430A promulgated under the Securities Act), as
amended or supplemented by any prospectus supplement, with respect to the terms

 

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