Common use of Internal Revenue Code Section 1202 Clause in Contracts

Internal Revenue Code Section 1202. The Company shall furnish to each Purchaser, and shall make such filings with the Internal Revenue Service, as shall from time to time be required pursuant to Section 1202(d)(1) of the Internal Revenue Code of 1986, as amended (the "Code"). In addition, the Company agrees that it will not make any purchases of its stock within the meaning of and which would exceed the limitation contained in Section 1202(c)(3)(B) of the Code, unless such purchases (i) have been consented to by holders of a majority of the Series A Preferred and Series B Preferred, acting together as a single class, or (ii) are required by contractual obligations entered into prior to the closing of the transaction contemplated by the Series A Agreement. Any such information provided to the Investor under this Section 3.6 shall not be disclosed by any Investor to any party except as required and solely in order for such Purchaser to claim any benefits under Section 1202 of the Code.