Limitation on Number of Shares. (i) If by way of any adjustment required by this Section 7.1, an Investor would receive a number of shares of Common Stock such that the total number of such shares held by the Investor as of the date of such adjustment would be greater than 9.90% but less than 13.0% of the total outstanding Common Stock of the Company, then the Company shall not effect the adjustment required by this Section to the extent necessary to avoid causing the aforesaid limitation to be exceeded until 120 days following the date such adjustment would have otherwise been made.
Limitation on Number of Shares. Purchaser and other entities advised by Dimensional Fund Advisors Inc. shall not be required to accept, by way of any such adjustment, a number of shares of the Corporation such that the total number of such shares held by Purchaser and such other entities, which were held by them on the date of this Agreement or acquired by them pursuant to this Agreement or agreements of like tenor with such other entities, would exceed 4.99% of the total outstanding stock of the Corporation. The Corporation shall effect the adjustment required by this Section by cash refund to the extent necessary to avoid causing the aforesaid limitation to be exceeded.
Limitation on Number of Shares. If the Underwriters' Representative or Agent shall advise the Company in writing (with a copy to each Selling Holder) that, in its opinion, the amount of Registrable Securities requested to be included in such registration would materially adversely affect such offering, or the timing thereof, then the Company will include in such registration, to the extent of the amount and class which the Company is so advised can be sold without such material adverse effect in such offering: first, all securities proposed to be sold by the Company for its own account; second, the Registrable Securities requested to be included in such registration by all Holders pursuant to this Article III, pro rata based on the estimated gross proceeds from the sale thereof; and third all other securities requested to be included in such registration.
Limitation on Number of Shares. (i) Notwithstanding anything herein to the contrary, except as provided otherwise in this Section 4.16, the number of Additional Shares that may be issued to any Purchaser under this Section 4.16 shall be limited to the extent necessary to insure that, following such issuance, the number of shares of Common Stock then beneficially owned by such Purchaser and its Affiliates and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with such Purchaser’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the holder is a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein (including the Warrants)), does not exceed 9.9% of the total number of shares of Common Stock of the Company then issued and outstanding (the “Beneficial Ownership Limitation”). For purposes hereof, “group” has the meaning set forth in Section 13(d) of the Exchange Act and applicable regulations of the Securities and Exchange Commission, and the percentage held by the holder shall be determined in a manner consistent with the provisions of Section 13(d) of the Exchange Act. If by way of any adjustment required by this Section 4.16 any Purchaser would otherwise be entitled to receive a number of shares of Common Stock such that the total number of such shares held by such Purchaser as of the date of such adjustment would equal or exceed the Beneficial Ownership Limitation, then the Company shall not issue Additional Shares as required by this Section 4.16 only to the extent necessary to avoid causing the aforesaid limitation to be exceeded. With respect to such Additional Shares which may not be issued to such Purchaser on the Delivery Date due to the limitation contained in this paragraph (“Excess Shares”), the Delivery Date for such Excess Shares, or any portion thereof from time to time as specified by such Purchaser, shall be extended to such date which is ten (10) days following delivery of written notice to the Company from such Purchaser stating that the Excess Shares (or such portion thereof), are no longer subject to the limitation contained in this paragraph since such Excess Shares (or portion thereof) may be issued without violating the Beneficial Ownership Limitation.
Limitation on Number of Shares. (i) If by way of any adjustment required by this Section 7.1, an Investor would receive a number of shares of Common Stock such that the total number of such shares held by the Investor as of the date of such adjustment would be greater than 9.90% of the total outstanding Common Stock of the Company, then the Company shall not effect the adjustment required by this Section to the extent necessary to avoid causing the aforesaid limitation to be exceeded and shall agree to effect such adjustment at the earliest possible time when such adjustment would not exceed the aforementioned limitation.
Limitation on Number of Shares. (i) Notwithstanding anything to the contrary contained herein, the number of Anti-Dilution Shares and MDP Shares that may be acquired by any Investor shall not exceed a number that, when added to the total number of shares of Common Stock deemed beneficially owned by such Investor (other than by virtue of the ownership of securities or rights to acquire securities (including this Section 7.1) that have limitations on the Investor's right to convert, exercise or purchase similar to the limitation set forth herein), together with all shares of Common Stock deemed beneficially owned (other than by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) by the holder's "affiliates" (as defined in Rule 144) ("Aggregation Parties") that would be aggregated for purposes of determining whether a group under Section 13(d) of the Securities Exchange Act of 1934 as amended, exists, would exceed 9.99% of the total issued and outstanding shares of the Common Stock (the "Restricted Ownership Percentage"). Each holder shall have the right (w) at any time and from time to time to reduce its Restricted Ownership Percentage immediately upon notice to the Company and (x) (subject to waiver) at any time and from time to time, to increase its Restricted Ownership Percentage immediately in the event of the announcement as pending or planned, of a change of control transaction (including without limitation a transaction that would result in a transfer of more than 50% of the Company's voting power or equity, or a transaction that would result in a person or "group" being deemed the beneficial owner of 50% or more of the Company's voting power or equity).
Limitation on Number of Shares. Notwithstanding any provision of this Warrant to the contrary, in no event will the sum of (a) the number of shares of Common Stock issued to the initial Holder by the Company pursuant to the Stock Purchase Agreement dated as of the date of this Warrant between the Company and the initial Holder plus (b) the number of shares of Common Stock issuable upon the exercise of this Warrant, exceed 19.995% of the shares of Common Stock outstanding immediately prior to the date of this Warrant.
Limitation on Number of Shares. The Company shall not be obligated to ------------------------------ issue any Shares upon exercise of this Warrant if the issuance of such shares of Common Stock would cause the Company to exceed that number of shares of Common Stock which the Company may issue upon exercise of this Warrant (the "Exchange Cap") without breaching the Company's obligations under the rules or regulations of the Principal Market, except that such limitation shall not apply in the event that the Company (a) obtains the approval of its stockholders as required by the Principal Market (or any successor rule or regulation) for issuances of Common Stock in excess of such amount or (b) obtains a written opinion from outside counsel to the Company that such approval is not required, which opinion shall be reasonably satisfactory to the holders of Warrants representing at least two-thirds (2/3) of the Shares then issuable upon exercise of outstanding Warrants. Until such approval or written opinion is obtained, the holder of this Warrant shall not be issued, upon exercise of this Warrant, Shares in an amount greater than such holder's Cap Allocation Amount (as defined in the Notes). In the event the Company is prohibited from issuing Warrant Shares as a result of the operation of this Section 10, the Company shall redeem for cash those Shares which can not be issued, at a price equal to the difference between the Closing Bid Price of the Common Stock and the Exercise Price of such Shares as of the date of the attempted exercise.
Limitation on Number of Shares. If the Underwriters’ Representative or Agent shall advise the Demanding Holders in writing that, in its opinion, the amount of Registrable Securities requested to be included in a Demand Registration would materially adversely affect such offering, or the timing thereof, then the Company will include in such registration, to the extent of the amount and class which the Demanding Holders are so advised can be sold without such material adverse effect in such offering: first, all Registrable Securities proposed to be sold by the Demanding Holders pursuant to Section 2.1, pro rata based on the estimated gross proceeds from the sale thereof; and second any other securities requested to be included in such registration.
Limitation on Number of Shares. Purchaser shall not be required to accept, by way of any such adjustment a number of shares of the Corporation such that the total number of such shares held by Purchaser, which were held by it as of the date of such adjustment or acquired by them pursuant to this Agreement or agreements of like tenor, would exceed 4.99% of the total outstanding stock of the Corporation. The Corporation shall effect the adjustment required by this Section by cash refund to the extent necessary to avoid causing the aforesaid limitation to be exceeded.
