Numerical Limitation Clause Samples
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Numerical Limitation. In addition to the other restrictions provided in this Agreement, the Founder agrees that until the earlier to occur of the second anniversary of the date of this Agreement or the date on which the Founder is no longer employed in any capacity by the Company or any of its subsidiaries, the aggregate number of Shares which the Founder may transfer to Section 4 of this Agreement shall not exceed 25% (subject to equitable adjustment for any stock split, stock dividend, combination of shares or the like and based upon Common Stock or Common Stock equivalents.
Numerical Limitation. In no event shall the amount of any Advance oblige the Company to issue a number of Shares which, when added to the number of Shares issued pursuant to this Agreement prior to such Advance, would cause the aggregate number of Shares issued pursuant to this Agreement to exceed the maximum number of Shares issuable by the Company pursuant to the Arrangement Agreement (as defined herein); provided that (A) the Company represents that as at the date hereof the maximum number of Shares that the Company is permitted, as of the date hereof, to issue under the terms of the Arrangement Agreement is not less than 38,000,000 Shares, which may be reduced by up to 12,000,000 in connection with Shares committed for issuance to satisfy a certain loan obligation and (B) the Company agrees that it will (1) promptly notify the Investor if at any point it has reason to believe that the number of Shares to which the Investor remains entitled to receive pursuant to Advances exceeds or will exceed the maximum number of Shares it is permitted to issue under the terms of the Arrangement Agreement and (2) provide the Investor with as much advance notice as practicable prior to entering into any transaction or agreement that would have that effect.