Compliance with Nasdaq Rules. (a) No Holder shall exercise its Conversion Rights at any time, if the exercise of the Conversion Rights would cause such Holder (together with its Affiliates) to own greater than 19.99% of the issued and outstanding shares of Common Stock prior to the time that the Company shall have received stockholder approval in accordance with Nasdaq Rules.
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Samples: Securities Purchase Agreement (LIGHTBRIDGE Corp), Investors Rights Agreement (LIGHTBRIDGE Corp), Securities Purchase Agreement (LIGHTBRIDGE Corp)
Compliance with Nasdaq Rules. (a) No Holder shall exercise its Conversion Rights at any time, if the exercise of the Conversion Rights would cause such Holder (together with its Affiliates) to own greater than 19.99% of the issued and outstanding shares of Common Stock prior to the time that the Company shall have received stockholder approval in accordance with Nasdaq Rules. The limitation set forth in this Section 7.2(a) shall apply as long as any Series B Preferred Stock remains outstanding regardless of whether the Company’s securities are listed with the Nasdaq.
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