Common use of No Variable Rate Transactions Clause in Contracts

No Variable Rate Transactions. From the date hereof until such time as no Purchaser holds any of the Warrants, the Company may not effect, or enter into an agreement to effect, any issuance by the Company of Common Stock or Common Stock Equivalents involving a Variable Rate Transaction. “Variable Rate Transaction” means a transaction in which the Company issues or sells any Common Stock or Common Stock Equivalents (i) either (A) at a conversion price, exercise price or exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such securities, or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the Common Stock or (ii) pursuant to an “equity line” structure, whereby the Company may issue securities at a future determined price. Any Purchaser shall be entitled to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect damages.