Spectrum Registrable Securities

Spectrum Registrable Securities. Means (i) any shares of Common Stock now or hereafter issued or issuable to, or otherwise held by, the members of the Spectrum Group Stockholders, and (ii) any equity securities issued or issuable directly or indirectly with respect to the securities referred to in clause (i) by way of stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization, including a recapitalization or exchange; provided, that in the event... that pursuant to such recapitalization or exchange, equity securities are issued which do no participate in the residual equity of the Company ("Non-Participating Securities"), such Non-Participating Securities will not be Registrable Securities. As to any particular shares constituting Spectrum Registrable Securities, such shares will cease to be Spectrum Registrable Securities when they have been (x) effectively registered under the Securities Act and disposed of in accordance with the registration statement covering them, or (y) sold to the public through a broker, dealer or market maker pursuant to Rule 144 (or by similar provision then in force) under the Securities Act. View More