Principal Registrable Securities. Means (i) any Common Stock issued to the Principal Equityholders, including any Common Stock issuable or issued upon conversion or exchange of other securities of the Company or any of its Subsidiaries and (ii) any other equity securities of the Company or a Subsidiary of the Company issued or issuable directly or indirectly with respect to the securities referred to in clause (i) above by way of a dividend, distribution or equity split or in connection with a combination of equity interests,
... recapitalization, reclassification, merger, consolidation or other reorganization. As to any particular Principal Registrable Securities, such securities shall cease to be Principal Registrable Securities when they have been distributed to the public pursuant to an offering registered under the Securities Act or sold to the public through a broker, dealer or market maker in compliance with Rule 144 under the Securities Act (or any similar rule then in force) or repurchased by the Company or any Subsidiary. As to any particular Principal Registrable Securities held by the Principal Equityholders, such securities shall also cease to be Principal Registrable Securities when they have been distributed by the Principal Equityholders to any of their direct or indirect partners or members. For purposes of this Agreement and subject to the foregoing limitations, a Person shall be deemed to be a holder of Principal Registrable Securities, and the Principal Registrable Securities shall be deemed to be in existence, whenever such Person has the right to acquire directly or indirectly such Principal Registrable Securities (upon conversion or exercise in connection with a transfer of securities or otherwise, but disregarding any restrictions or limitations upon the exercise of such right), whether or not such acquisition has actually been effected, and such Person shall be entitled to exercise the rights of a holder of Principal Registrable Securities hereunder.
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