Common use of Issuances of Company Securities Clause in Contracts

Issuances of Company Securities. (a) As long as the Purchaser owns not less than the Threshold Percentage and at least 25% of the Preferred Stock outstanding immediately following the Closing, the Company only shall have the right to issue shares of Common Stock or preferred stock ranking junior to the Preferred Stock with respect to liquidation preferences (the "Junior Securities") as long as such issuance does not result in a limitation on the use of the Company's net operating loss carryforwards under Section 382 of the Code. Notwithstanding the foregoing, the issuance of Junior Securities will be permissible even if it results in a limitation on the use of the Company's net operating loss carryforwards; provided that at least two (2) of the Company's directors do not vote in opposition to such issuance.

Issuances of Company Securities. (a) As long as the Purchaser owns not less than the Threshold Percentage and at least 25% of the Preferred Stock outstanding immediately following the ClosingStock, the Company only shall have the right to issue shares of Common Stock or preferred stock ranking junior to the Preferred Stock with respect to liquidation preferences (the "Junior Securities") as long as such issuance does not result in a limitation on the use of the Company's net operating loss carryforwards under Section 382 of the Code. Notwithstanding the foregoing, the issuance of Junior Securities will be permissible even if it results in a limitation on the use of the Company's net operating loss carryforwards; provided that at least two (2) of the Company's directors do not vote in opposition to such issuance.