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Title: |
Registration Rights Agreement |
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Entities: |
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Date: |
2001 |
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Preview shows 5KB of 30KB total |
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Price: |
$39 |
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ID: |
#2160188 |
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REGISTRATION RIGHTS AGREEMENT
THIS REGISTRATION RIGHTS AGREEMENT, dated as of this 8th day of June
2000 (the "Agreement"), is made and entered into by and between eLOT, Inc., a
Virginia corporation ("Parent"), and PlasmaNet, Inc., a Delaware corporation
("Seller").
Recitals
WHEREAS, Parent, Buyer and Seller are parties to an Asset Purchase
Agreement, dated as of May 31, 2000 (the "Asset Purchase Agreement"); and
WHEREAS, the execution and delivery of this Agreement by Parent is a
condition to Seller's obligations to effect the closing under the Asset Purchase
Agreement.
NOW, THEREFORE, in consideration of the foregoing premises and the
agreements and representations contained herein, the parties hereto agree as
follows:
ARTICLE I
DEFINITIONS
1.1 Terms Defined in Asset Purchase Agreement. Capitalized terms used
in this Agreement without definition shall have the respective meanings assigned
to such terms in the Asset Purchase Agreement.
1.2 Definition of Terms. For purposes of this Agreement, the following
terms shall have the following meanings:
"Agreement" has the meaning specified in the first paragraph of this
Agreement.
"Asset Purchase Agreement" has the meaning specified in the Recitals to
this Agreement.
"Buyer" means eLOTTONET, Inc., a Delaware corporation.
"Parent" has the meaning specified in the first paragraph of this
Agreement.
"Piggyback Notice" has the meaning specified in Section 2.1(a).
"Piggyback Registration" has the meaning specified in Section 2.1(a).
{PAGE} 2
- 2 -
"Registrable Securities" means shares of Parent Common Stock issued to
Seller as Purchase Shares, Initial Shares (as defined in the Strategic
Cooperation Agreement) or Subsequent Shares (as defined in the Strategic
Cooperation Agreement) excluding such shares to the extent they have been sold
or otherwise transferred by Seller or are eligible for sale under Rule 144
under the Securities Act without volume or manner of sale restrictions.
"Securities Act" has the meaning specified in Section 2.1(a).
"Seller" has the meaning specified in the first paragraph of this
Agreement.
"Shelf Registration" has the meaning specified in Section 2.2(a).
"Strategic Cooperation Agreement" means the Strategic Cooperation
Agreement of even date herewith among Parent, Buyer and Seller.
ARTICLE II
REGISTRATION RIGHTS
2.1 Piggyback Registrations.
(a) Right to Piggyback on Registrations. Whenever Parent proposes to
register any Parent Common Stock under the Securities Act of 1933, as amended
(the "Securities Act"), in an underwritten offering, Parent will give prompt
written notice (a "Piggyback Notice") to Seller and, subject to the limitations
contained in this Section 2.1(a) and Section 2.1(b), will include all
Registrable Securities with respect to which Parent has received written
request from Seller for inclusion therein within ten (10) business days after
the receipt of the Piggyback Notice (a "Piggyback Registration"). The right of
Seller to include its Registrable Securities in a Piggyback Registration
pursuant to this Section 2.1(a) shall be conditioned upon Seller's
participation in such underwriting and the inclusion of Seller's Registrable
Securities in such underwriting as provided herein. Seller shall, as a
condition to its participation in such underwritten offering, enter into an
underwriting agreement in customary form with the managing underwriter or
underwriters selected by Parent for such underwriting. If Seller disapproves of
the terms of any such underwriting, Seller may elect to withdraw therefrom by
written notice to Parent and the managing underwriter, delivered at least five
(5) business days prior to the effective date of the registration statement.
(b) Priority on Registrations. If the managing underwriters advise
Parent in writing that in their opinion the number of securities requested to
be included in a Piggyback Registration exceeds the number (if any) which can
be sold in such offering without adversely affecting the marketability of the
offering, Parent will include in such registration (i) first, the maximum
number of securities Parent proposes to sell which, in the opinion
{PAGE} 3
-3-
of such underwriters, can be sold without adversely affecting the marketability
of the offering, and (ii) second, the maximum number of Registrable Securities
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