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Registration Rights Agreement

 

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Title:

Registration Rights Agreement

Entities:

Interchange Corp

Date:

2007

Size:

Preview shows 5KB of 96KB total

Price:

$44

ID:

#2944340

 

 

► Corporate ► Rights ► Registration Rights Agreements

 

 

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                          REGISTRATION RIGHTS AGREEMENT


REGISTRATION RIGHTS AGREEMENT (this "AGREEMENT"), dated as of July 31,
2007, by and among Local.com Corporation, a Delaware corporation, with
headquarters located at One Technology Drive, Building G, Irvine, California
92618 (the "COMPANY"), and the investors listed on the Schedule of Buyers
attached hereto (each, a "BUYER" and collectively, the "BUYERS").

WHEREAS:

A. In connection with the Securities Purchase Agreement by and among
the parties hereto of even date herewith (the "SECURITIES PURCHASE AGREEMENT"),
the Company has agreed, upon the terms and subject to the conditions of the
Securities Purchase Agreement, to issue and sell to each Buyer (i) shares (the
"COMMON SHARES") of the Company's common stock, par value $0.00001 per share
(the "COMMON STOCK"), and (ii) two tranches of warrants (the "WARRANTS") which
will be exercisable to purchase shares of Common Stock (as exercised, the
"WARRANT SHARES") in accordance with the terms of the Warrants.

B. In accordance with the terms of the Securities Purchase Agreement,
the Company has agreed to provide certain registration rights under the
Securities Act of 1933, as amended, and the rules and regulations thereunder, or
any similar successor statute (collectively, the "1933 ACT"), and applicable
state securities laws.

NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and each
of the Buyers hereby agree as follows:

1. Definitions.

Capitalized terms used herein and not otherwise defined herein shall
have the respective meanings set forth in the Securities Purchase Agreement. As
used in this Agreement, the following terms shall have the following meanings:


(a) "ADDITIONAL EFFECTIVE DATE" means the date the Additional
Registration Statement is declared effective by the SEC.

(b) "ADDITIONAL EFFECTIVENESS DEADLINE" means the date which is
thirty (30) calendar days after the earlier of the Additional Filing Date and
the Additional Filing Deadline or in the event that the Registration Statement
is subject to a full review by the SEC, ninety (90) calendar days after the
earlier of the Additional Filing Date and the Additional Filing Deadline.

(c) "ADDITIONAL FILING DATE" means the date on which the
Additional Registration Statement is filed with the SEC.

{PAGE}

(d) "ADDITIONAL FILING DEADLINE" means if Cutback Shares are
required to be included in the Additional Registration Statement, the later of
(i) the date sixty (60) days after the date substantially all of the Registrable
Securities registered under the immediately preceding Registration Statement are
sold and (ii) the date six (6) months from the Initial Effective Date or the
last Additional Effective Date, as applicable.

(e) "ADDITIONAL REGISTRABLE SECURITIES" means, (i) any Cutback
Shares not previously included on a Registration Statement and (ii) any share
capital of the Company issued or issuable with respect to the Common Shares, the
Warrants, the Warrant Shares or Cutback Shares, as applicable, as a result of
any stock split, stock dividend, recapitalization, exchange or similar event or
otherwise.

(f) "ADDITIONAL REGISTRATION STATEMENT" means a registration
statement or registration statements of the Company filed under the 1933 Act
covering any Additional Registrable Securities.

(g) "ADDITIONAL REQUIRED REGISTRATION AMOUNT" means (I) (i) any
Cutback Shares not previously included on a Registration Statement or (II) such
other amount as may be required by the staff of the SEC pursuant to Rule 415.

(h) "BUSINESS DAY" means any day other than Saturday, Sunday or
any other day on which commercial banks in The City of New York are authorized
or required by law to remain closed.

(i) "CLOSING DATE" shall have the meaning set forth in the
Securities Purchase Agreement.

(j) "CUTBACK SHARES" means any of the Initial Required
Registration Amount or the Additional Required Registration Amount (without
regard to clause (II) in the definition thereof) of Registrable Securities not
included in all Registration Statements previously declared effective hereunder
as a result of a limitation on the maximum number of shares of Common Stock of
the Company permitted to be registered by the staff of the SEC pursuant to Rule
415.

 

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