Common use of Effect of Amendment or Waiver Clause in Contracts

Effect of Amendment or Waiver. Each Investor acknowledges that ----------------------------- by the operation of Section 6.8 hereof the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A Preferred Stock will have the power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each The Investor acknowledges that ----------------------------- by the operation of Section 6.8 hereof the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A B Preferred Stock will have the power to diminish or eliminate all rights of such the Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges that ----------------------------- by the operation of Section 6.8 8.8 hereof the holders of a majority two-thirds of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A Preferred Stock and Series B Preferred Stock sold to the Investors pursuant to this Agreement will have the power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges that ----------------------------- by the operation of Section 6.8 8.8 hereof the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A D Preferred Stock sold pursuant to this Agreement will have the power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor ----------------------------- acknowledges that ----------------------------- by the operation of Section 6.8 hereof the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A B Preferred Stock will have the power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges ----------------------------- that ----------------------------- by the operation of Section 6.8 hereof the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A C Preferred Stock will have the power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges that ----------------------------- by the operation of Section 6.8 7.7 hereof the holders of a majority of the Common Stock not previously sold pursuant to the public that is issued or issuable upon conversion of the Series A Preferred Stock this Agreement will have the power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges that that, by ----------------------------- by the operation of Section 6.8 hereof 9.4 hereof, the holders of a majority in interest of the Common outstanding Shares and outstanding shares of Underlying Stock (determined on an as if converted basis) that have not previously been sold to the public that is issued or issuable upon conversion of the Series A Preferred Stock will have the right and power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges that by ----------------------------- by the operation of Section 6.8 hereof the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A C Preferred Stock will have the power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges that ----------------------------- by the operation of Section 6.8 7.8 hereof the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A Preferred Stock will have the power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges The Investors acknowledge that ----------------------------- by the operation of Section 6.8 paragraph 6.10 hereof the holders of a majority more than fifty percent (50%) of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A Preferred Stock will have the right and power to diminish or eliminate all rights of such an Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges that ----------------------------- by the operation of Section 6.8 hereof the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A B Preferred Stock will have the power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges that ----------------------------- by the operation of Section 6.8 7.10 hereof the holders of a majority at least 50% of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A D-1 Preferred Stock will have the right and power to diminish or eliminate all rights of such Investor under this Agreement.

Effect of Amendment or Waiver. Each Additional Investor ----------------------------- acknowledges that ----------------------------- by the operation of Section 6.8 7.8 hereof the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion of the Series A C Preferred Stock will have the power to diminish or eliminate all rights of such Additional Investor under this Agreement.

Effect of Amendment or Waiver. Each Investor acknowledges that ----------------------------- that, by the operation of Section 6.8 hereof hereof, the holders of a majority of the Common Stock not previously sold to the public that is issued or issuable upon conversion or exercise of the Series A Preferred Stock Securities sold pursuant to this Agreement will have the power to diminish or eliminate all rights of such Investor under this Agreement.