Common use of Limitation on Investor's Obligation to Purchase Shares Clause in Contracts

Limitation on Investor's Obligation to Purchase Shares. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor be required to purchase, and an Intended Put Share Amount may not include, an amount of Put Shares, which when added to the number of shares of Common Stock of the Company then beneficially owned by the Investor as determined in accordance with Section 13(d) of the Exchange Act, would exceed 4.9% of the number of shares of Common Stock outstanding (on a fully diluted basis, to the extent that inclusion of unissued shares is mandated by Section 13(d) of the Exchange Act) on the Put Date for such Pricing Period (the “Section 13(d) Outstanding Share Amount”). Each Put Notice shall include a representation of the Company as to the Section 13(d) Outstanding Share Amount on the related Put Date. In the event that the Section 13(d) Outstanding Share Amount is different on any date during a Pricing Period than on the Put Date associated with such Pricing Period, then the number of shares of Common Stock outstanding on such date during such Pricing Period shall govern for purposes of determining whether the number of shares beneficially owned by the Investor following the issuance of the subject Put Shares, would constitute in excess of 4.9% of the Section 13(d) Outstanding Share Amount. The limitation set forth in this Section 2.3.1(f) is referred to as the “4.9% Limitation.”

Appears in 10 contracts

Samples: Investment Agreement (Blue Sphere Corp.), Investment Agreement (Amarantus BioSciences, Inc.), Investment Agreement (Allezoe Medical Holdings Inc)

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Limitation on Investor's Obligation to Purchase Shares. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor be required to purchase, and an Intended Put Share Amount may not includethe Company shall in no event sell to the Investor, an amount that number of Put Shares, which when added to the sum of the number of shares of Common Stock Shares "beneficially owned" (as such term is defined under Section 13(d) and Rule 13d-3 of the Company then beneficially owned Securities Exchange Act of 1934, as may be amended, (the "1934 ACT")), by the Investor Investor, would exceed 4.99% of the number of Shares outstanding on the Put Notice Date for such Pricing Period, as determined in accordance with Section 13(dRule 13d-1(j) of promulgated under the Exchange 1934 Act, would exceed 4.9% of . In no event shall the number of shares of Common Stock outstanding (on a fully diluted basis, Investor purchase Shares other than pursuant to the extent that inclusion of unissued shares this Agreement until such date as this Agreement is mandated by Section 13(d) of the Exchange Act) on the Put Date for such Pricing Period (the “Section 13(d) Outstanding Share Amount”)terminated. Each Put Notice shall include a representation of the Company as to the Section 13(d) Outstanding Share Amount number of Shares outstanding on the related Put Notice Date. In the event that the Section 13(d) Outstanding Share Amount number of Shares outstanding is different on any date during a Pricing Period than the number of Shares outstanding on the Put Notice Date associated with such Pricing Period, then the number of shares of Common Stock Shares outstanding on such date during such Pricing Period shall govern for purposes of determining whether the number Investor would be acquiring beneficial ownership of shares beneficially owned by the Investor following the issuance of the subject Put Shares, would constitute in excess of 4.9more than 4.99% of the Section 13(d) Outstanding Share Amount. The limitation set forth in this Section 2.3.1(f) is referred to as the “4.9% Limitationnumber of Shares outstanding during such period.

Appears in 5 contracts

Samples: 52 Investment Agreement (Ventures National Inc), Investment Agreement (On the Go Healthcare Inc), Investment Agreement (Vital Products, Inc.)

Limitation on Investor's Obligation to Purchase Shares. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor be required to purchase, and an Intended Put Share Amount may not include, an amount of Put Shares, which when added to the number of shares of Common Stock of the Company then beneficially owned by the Investor as determined in accordance with Section 13(d) of the Exchange Act, would exceed 4.99.9% of the number of shares of Common Stock outstanding (on a fully diluted basis, to the extent that inclusion of unissued shares is mandated by Section 13(d) of the Exchange Act) on the Put Date for such Pricing Period (the “Section 13(d) Outstanding Share Amount”). Each Put Notice shall include a representation of the Company as to the Section 13(d) Outstanding Share Amount on the related Put Date. In the event that the Section 13(d) Outstanding Share Amount is different on any date during a Pricing Period than on the Put Date associated with such Pricing Period, then the number of shares of Common Stock outstanding on such date during such Pricing Period shall govern for purposes of determining whether the number of shares beneficially owned by the Investor following the issuance of the subject Put Shares, would constitute in excess of 4.99.9% of the Section 13(d) Outstanding Share Amount. The limitation set forth in this Section 2.3.1(f) is referred to as the “4.99.9% Limitation.”

Appears in 4 contracts

Samples: Investment Agreement (Dynamic Ventures Corp.), Investment Agreement (Medisafe 1 Technologies Corp), Investment Agreement (Clean Power Concepts Inc.)

Limitation on Investor's Obligation to Purchase Shares. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor be required to purchase, and an Intended Put Share Amount may not include, an amount of Put Shares, which when added to the number of shares of Common Stock of the Company then beneficially owned by the Investor as determined in accordance with Section 13(d) of the Exchange Act, unexercised Warrants would exceed 4.99.99% of the number of shares of Common Stock outstanding (on a fully diluted basis, to the extent that inclusion of unissued shares is mandated by Section 13(d) of the Exchange Act) on the Put Date for such Pricing Period Period, as determined in accordance with Section 13(d) of the Exchange Act (the “Section 13(d) Outstanding Share Amount”). Each Put Notice shall include a representation of the Company as to the Section 13(d) Outstanding Share Amount on the related Put Date. In the event that the Section 13(d) Outstanding Share Amount is different on any date during a Pricing Period than on the Put Date associated with such Pricing Period, then the number of shares of Common Stock outstanding on such date during such Pricing Period shall govern for purposes of determining whether the number Investor, when aggregating all purchases of shares beneficially owned by Shares made pursuant to this Agreement in the Investor following the issuance of the subject Put Shares31 calendar days preceding such date, would constitute in excess of 4.9have acquired more than 9.99% of the Section 13(d) Outstanding Share Amount. The limitation set forth in this Section 2.3.1(f) is referred to as the “4.99.9% Limitation.”

Appears in 2 contracts

Samples: Investment Agreement (Cyber Law Reporter Inc), Investment Agreement (Cyber Law Reporter Inc)

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Limitation on Investor's Obligation to Purchase Shares. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor be required to purchase, and an Intended Put Share Amount may not include, an amount of Put Shares, which when added to the number of shares of Common Stock of the Company then beneficially owned by the Investor as determined in accordance with Section 13(d) of the Exchange Act, would exceed 4.909.9% of the number of shares of Common Stock outstanding (on a fully diluted basis, to the extent that inclusion of unissued shares is mandated by Section 13(d) of the Exchange Act) on the Put Date for such Pricing Period (the “Section 13(d) Outstanding Share Amount”). Each Put Notice shall include a representation of the Company as to the Section 13(d) Outstanding Share Amount on the related Put Date. In the event that the Section 13(d) Outstanding Share Amount is different on any date during a Pricing Period than on the Put Date associated with such Pricing Period, then the number of shares of Common Stock outstanding on such date during such Pricing Period shall govern for purposes of determining whether the number of shares beneficially owned by the Investor following the issuance of the subject Put Shares, would constitute in excess of 4.99.9% of the Section 13(d) Outstanding Share Amount. The limitation set forth in this Section 2.3.1(f) is referred to as the “4.99.9% Limitation.”

Appears in 1 contract

Samples: Investment Agreement (Dc Brands International Inc)

Limitation on Investor's Obligation to Purchase Shares. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor be required to purchase, and an Intended Put Share Amount may not includethe Company shall in no event sell to the Investor, an amount that number of Put Shares, which when added to the sum of the number of shares of Common Stock Shares "beneficially owned" (as such term is defined under Section 13(d) and Rule 13d-3 of the Company then beneficially owned Securities Exchange Act of 1934, as may be amended, (the "1934 ACT")), by the Investor Investor, would exceed 4.99% of the number of Shares outstanding on the Put Notice Date for such Pricing Period, as determined in accordance with Section 13(dRule 13d-1(j) of promulgated under the Exchange 1934 Act, would exceed 4.9% of . In no event shall the number of shares of Common Stock outstanding (on a fully diluted basis, Investor purchase Shares other than pursuant to the extent that inclusion of unissued shares this Agreement until such date as this Agreement is mandated by Section 13(d) of the Exchange Act) on the Put Date for such Pricing Period (the “Section 13(d) Outstanding Share Amount”)terminated. Each Put Notice shall include a representation of the Company as to the Section 13(d) Outstanding Share Amount number of Shares outstanding on the related Put Notice Date. In the event that the Section 13(d) Outstanding Share Amount number of Shares outstanding is different on any date during a Pricing Period than the number of Shares outstanding on the Put Notice Date associated with such Pricing Period, then the number of shares of Common Stock Shares outstanding on such date during such Pricing Period shall govern for purposes of determining whether the number Investor would be acquiring beneficial ownership of shares beneficially owned by the Investor following the issuance of the subject Put Shares, would constitute in excess of 4.9more than 9.99% of the Section 13(d) Outstanding Share Amount. The limitation set forth in this Section 2.3.1(f) is referred to as the “4.9% Limitationnumber of Shares outstanding during such period.

Appears in 1 contract

Samples: Investment Agreement (Flexxtech Corp)

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