Common use of Holding Requirements Clause in Contracts

Holding Requirements. Each Purchaser understands that if -------------------- the Company does not (i) register its Common Stock with the SEC pursuant to Section 12 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), (ii) become subject to Section 15(d) of the Exchange Act, (iii) supply information pursuant to Rule 15c2-11 thereunder or (iv) have a registration statement covering the Securities (or a filing pursuant to the exemption from registration under Regulation A of the Act covering the Securities) under the Securities Act in effect when it desires to sell the Securities, such Purchaser may be required to hold the Securities for an indeterminate period. Each Purchaser also understands that any sale of the Securities that might be made by such Purchaser in reliance upon Rule 144 under the Act may be made only in limited amounts in accordance with the terms and conditions of that rule.

Holding Requirements. Each Such Purchaser understands that if -------------------- the Company does not (i) register its Common Stock with the SEC Securities and Exchange Commission ("SEC") pursuant to Section 12 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), (ii) become subject to Section 15(d) of the Exchange Act, (iii) supply information pursuant to Rule 15c2-11 thereunder thereunder, or (iv) have a registration statement covering the Securities (or a filing pursuant to the exemption from registration under Regulation A of the Securities Act covering the Securities) under the Securities Act in effect when it such Purchaser desires to sell the Securities, such Purchaser may be required to hold the Securities for an indeterminate period. Each Such Purchaser also understands that any sale of the Securities that might be made by such Purchaser in reliance upon Rule 144 under the Securities Act may be made only in limited amounts in accordance with the terms and conditions of that rule.

Holding Requirements. Each Such Purchaser understands that if the -------------------- the Company does not (i) register its Common Stock with the SEC Securities and Exchange Commission ("SEC") pursuant to Section 12 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), (ii) become subject to Section 15(d) of the Exchange Act, (iii) supply information pursuant to Rule 15c2-11 thereunder thereunder, or (iv) have a registration statement covering the Securities (or a filing pursuant to the exemption from registration under Regulation A of the Securities Act covering the Securities) under the Securities Act in effect when it such Purchaser desires to sell the Securities, such Purchaser may be required to hold the Securities for an indeterminate period. Each Such Purchaser also understands that any sale of the Securities that might be made by such Purchaser in reliance upon Rule 144 under the Securities Act may be made only in limited amounts in accordance with the terms and conditions of that rule.

Holding Requirements. Each Such Purchaser understands that if -------------------- the Company does not (i) register its Common Stock with the SEC pursuant to Section 12 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), (ii) become subject to Section 15(d) of the Exchange Act, (iii) supply information pursuant to Rule 15c2-11 thereunder 1 1 thereunder, or (iv) have a registration statement covering the Securities Shares (or a filing pursuant to the exemption from registration under Regulation A of the Securities Act covering the SecuritiesShares) under the Securities Act in effect when it such Purchaser desires to sell the SecuritiesShares, such Purchaser may be required to hold the Securities Shares for an indeterminate period. Each Such Purchaser also understands that any sale of the Securities Shares that might be made by such Purchaser in reliance upon Rule 144 under the Securities Act may be made only in limited amounts in accordance with the terms and conditions of that rule.

Holding Requirements. Each Purchaser understands that if -------------------- the Company does not (i) register its Common Stock with the SEC pursuant to Section 12 of the Securities Exchange Act of 1934, as amended ("“Exchange Act"”), (ii) become subject to Section 15(d) of the Exchange Act, (iii) supply information pursuant to Rule 15c2-11 thereunder or (iv) have a registration statement covering the Securities Conversion Shares (or a filing pursuant to the exemption from registration under Regulation A of the Act covering the SecuritiesConversion Shares) under the Securities Act in effect when it desires to sell the SecuritiesConversion Shares, such Purchaser may be required to hold the Securities Conversion Shares for an indeterminate period. Each Purchaser also understands that any sale of the Securities Conversion Shares that might be made by such Purchaser in reliance upon Rule 144 under the Act may be made only in limited amounts in accordance with the terms and conditions of that rule.

Holding Requirements. Each Purchaser understands that if -------------------- the Company does not (i) register its Common Stock with the SEC pursuant to Section 12 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), (ii) become subject to Section 15(d) of the Exchange Act, (iii) supply information pursuant to Rule 15c2-11 thereunder or (iv) have a registration statement covering the Securities (or a filing pursuant to the exemption from registration under Regulation A of the Act covering the Securities) under the Securities Act in effect when it desires to sell the Securities, such Purchaser may be required to hold the Securities for an indeterminate period. Each Purchaser also understands that any sale of the Securities that might be made by such Purchaser in reliance upon Rule 144 under the Act may be made only in limited amounts in accordance with the terms and conditions of that rule.