Common use of Certain Trading Limitations Clause in Contracts

Certain Trading Limitations. Each Purchaser agrees that, for as long it owns any outstanding shares of Series C Preferred Stock, it will not enter into any Short Sales. For purposes of this Section 3.2(h), a “Short Sale” by a Purchaser means a sale of Common Stock that is marked as a short sale and that is executed at a time when such Purchaser has no equivalent offsetting long position in the Common Stock. For purposes of determining whether a Purchaser has an equivalent offsetting long position in the Common Stock, all Common Stock and all Common Stock that would be issuable upon conversion or exercise in full of all Options then held by such Purchaser (assuming that such Options were then fully convertible or exercisable, notwithstanding any provisions to the contrary, and giving effect to any conversion or exercise price adjustments scheduled to take effect in the future) shall be deemed to be held long by such Purchaser.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Global Epoint Inc), Securities Purchase Agreement (Global Epoint Inc)

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Certain Trading Limitations. Each Purchaser agrees thatthat beginning on the date the Purchaser first learned of this transaction, for as long it owns any outstanding shares of Series C Preferred Stockand continuing until the Closing Date, it will has not enter entered into any Short Sales. For purposes of this Section 3.2(h3.2(e), a “Short Sale” by a Purchaser means a sale of Common Stock that is marked as a short sale and that is executed at a time when such Purchaser has no equivalent offsetting long position in the Common Stock. For purposes of determining whether a Purchaser has an equivalent offsetting long position in the Common Stock, all Common Stock and all Common Stock that would be issuable upon conversion or exercise in full of all Options then held by such Purchaser (assuming that such Options were then fully convertible or exercisable, notwithstanding any provisions to the contrary, and giving effect to any conversion or exercise price adjustments scheduled to take effect in the future) shall be deemed to be held long by such Purchaser.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Wells Gardner Electronics Corp), Securities Purchase Agreement (Wells Gardner Electronics Corp)

Certain Trading Limitations. Each Purchaser The Holder agrees thatthat beginning on the date the Holder first learned of this transaction, for as long it owns any outstanding shares of Series C Preferred Stockand continuing until the Required Effectiveness Date, it has not entered into and will not enter into any Short Sales. For purposes of this Section 3.2(h3.2(e), a "Short Sale" by a Purchaser the Holder means a sale of Common Stock that is marked as a short sale and that is executed at a time when such Purchaser the Holder has no equivalent offsetting long position in the Common Stock. For purposes of determining whether a Purchaser the Holder has an equivalent offsetting long position in the Common Stock, all Common Stock and all Common Stock that would be issuable upon conversion or exercise in full of all Options then held by such Purchaser the Holder (assuming that such Options were then fully convertible or exercisable, notwithstanding any provisions to the contrary, and giving effect to any conversion or exercise price adjustments scheduled to take effect in the future) shall be deemed to be held long by such Purchaserthe Holder.

Appears in 1 contract

Samples: Securities Acquisition and Investor Rights Agreement (Medirect Latino Inc)

Certain Trading Limitations. Each Purchaser agrees that, for as long it owns any outstanding shares of Series C D Preferred Stock, it will not enter into any Short Sales. For purposes of this Section 3.2(h3.2(l), a “Short Sale” by a Purchaser means a sale of Common Stock that is marked as a short sale and that is executed at a time when such Purchaser has no equivalent offsetting long position in the Common Stock. For purposes of determining whether a Purchaser has an equivalent offsetting long position in the Common Stock, all Common Stock and all Common Stock that would be issuable upon conversion or exercise in full of all Options then held by such Purchaser (assuming that such Options were then fully convertible or exercisable, notwithstanding any provisions to the contrary, and giving effect to any conversion or exercise price adjustments scheduled to take effect in the future) shall be deemed to be held long by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Global Epoint Inc)

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Certain Trading Limitations. Each For so long as a Purchaser hold the Shares originally purchased by it under this Agreement, such Purchaser agrees that, for as long it owns any outstanding shares of Series C Preferred Stock, that it will not enter into any Short Sales. For purposes of this Section 3.2(h)4.14, a “Short Sale” by a Purchaser means a sale of Common Stock that is marked as a short sale and that is executed at a time when such Purchaser has no equivalent offsetting long position in the Common Stock. For purposes of determining whether a Purchaser has an equivalent offsetting long position in the Common Stock, all Common Stock and all Common Stock that would be issuable upon conversion or exercise in full of all Securities and Options then held by such Purchaser (assuming that whether or not such Securities and Options were then fully convertible or exercisable, notwithstanding any provisions to the contrary, and giving effect to any conversion or exercise price adjustments scheduled to take effect in the future) shall be deemed to be held long by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Arena Pharmaceuticals Inc)

Certain Trading Limitations. Each Purchaser agrees that, for as long it owns any outstanding shares that prior to the --------------------------- earlier to occur of Series C Preferred Stock(x) 90 days from the Closing Date and (y) the Effective Date, it will not enter into any Short Sales. For purposes of this Section 3.2(h)4.11, a "Short Sale" by a Purchaser means a sale of Common Stock that is marked as a short sale and that is executed at a time when such Purchaser has no equivalent offsetting long position in the Common Stock. For purposes of determining whether a Purchaser has an equivalent offsetting long position in the Common Stock, all Common Stock and all Common Stock Underlying Shares that would be issuable upon conversion or exercise in full of all Options Securities then held by such Purchaser (assuming that such Options Securities were then fully convertible or exercisable, notwithstanding any provisions to the contrary, and giving effect to any conversion or exercise price adjustments scheduled to take effect in the future) shall be deemed to be held long by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Mercator Software Inc)

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