Common use of Ownership Limitation Clause in Contracts

Ownership Limitation. If at any time after the Closing, the Buyer shall or would receive shares of Common Stock in payment of interest or principal under Note, upon conversion of the Note, under the Warrant, or upon exercise of the Warrant, so that the Buyer would, together with other shares of Common Stock held by it or its Affiliates, own or beneficially own by virtue of such action or receipt of additional shares of Common Stock a number of shares exceeding 4.99% of the number of shares of Common Stock outstanding on such date (the “Maximum Percentage”), the Company shall not be obligated and shall not issue to the Buyer shares of Common Stock which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage would no longer be exceeded by any such receipt of shares of Common Stock by the Buyer. Upon delivery of a written notice to the Company, the Buyer may from time to time increase (with such increase not effective until the sixty-first (61st) day after delivery of such notice) or decrease the Maximum Percentage to any other percentage not in excess of 4.99% as specified in such notice; provided that (i) any such increase in the Maximum Percentage will not be effective until the sixty-first (61st) day after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to the Buyer and its Affiliates. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 5.13 to the extent necessary to correct this paragraph (or any portion of this paragraph) which may be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 5.13 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived and shall apply to a successor holder of the Note and Warrant.

Ownership Limitation. If at any time after the Closing, the Buyer shall or would receive shares of Common Stock in payment of interest or principal under Note, upon conversion of the Note, under the Warrant, or upon exercise of the Warrant, so the Holder advises the Company (or the Company otherwise has actual knowledge) that the Buyer Holder would, together with other shares of Common Stock held by it or its Affiliates, own or beneficially own by virtue of such action or receipt of additional shares of Common Stock a number of shares exceeding 4.99% of the number of shares of Common Stock outstanding on such date (the “Maximum Percentage”), the Company shall not be obligated and shall not issue to the Buyer Holder shares of Common Stock which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage would no longer be exceeded by any such receipt of shares of Common Stock by the BuyerHolder. Upon delivery of a written notice to the Company, the Buyer Holder may from time to time increase (with such increase not effective until the sixty-first (61st) day after delivery of such notice) or decrease the Maximum Percentage to any other percentage not in excess of 4.99% as specified in such notice; provided that (i) any such increase in the Maximum Percentage will not be effective until the sixty-first (61st) day after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to the Buyer Holder and its Affiliates. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 5.13 2.2 to the extent necessary to correct this paragraph (or any portion of this paragraph) which may be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 5.13 2.2 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived and shall apply to a successor holder of the Note and Warrant.

Ownership Limitation. If Notwithstanding anything to the contrary contained in this Agreement, if at any time after the Closing, the Buyer Purchaser shall or would receive be issued shares of Common Stock in payment of interest or principal under Notehereunder, upon conversion of but such issuance would cause the Note, under the Warrant, or upon exercise of the Warrant, so that the Buyer would, Purchaser (together with other shares of Common Stock held by it or its Affiliates, affiliates) to own or beneficially own by virtue of such action or receipt of additional shares of Common Stock a number of shares exceeding 4.999.99% of the number of shares of Common Stock outstanding on such date (the “Maximum Percentage”), the Company shall not be obligated and shall must not issue to the Buyer Purchaser shares of the Common Stock which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage would no longer be exceeded by any such receipt of . The shares of Common Stock by issuable to the BuyerPurchaser that would cause the Maximum Percentage to be exceeded are referred to herein as the “Ownership Limitation Shares”. The Company will reserve the Ownership Limitation Shares for the exclusive benefit of the Purchaser. From time to time, the Purchaser may notify the Company in writing of the number of the Ownership Limitation Shares that may be issued to the Purchaser without causing the Purchaser to exceed the Maximum Percentage. Upon delivery receipt of such notice, the Company shall be unconditionally obligated to immediately issue such designated shares to the Purchaser, with a corresponding reduction in the number of the Ownership Limitation Shares. For purposes of this Section, beneficial ownership of Common Stock will be determined under Section 13(d) of the Securities Exchange Act of 1934, as amended. By written notice to the Company, the Buyer Purchaser may from time to time increase (with such increase not effective until the sixty-first (61st) day after delivery of such notice) increase, decrease or decrease waive the Maximum Percentage as to any other percentage not in excess of 4.99% as specified in such notice; provided that (i) itself but any such increase in the Maximum Percentage waiver will not be effective until the sixty-first (61st) 61st day after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to the Buyer and its Affiliatesdelivery thereof. The provisions of this paragraph shall be construed foregoing 61-day notice requirement is enforceable, unconditional and implemented in a manner otherwise than in strict conformity with the terms of this Section 5.13 to the extent necessary to correct this paragraph (or any portion of this paragraph) which may be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 5.13 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived non-waivable and shall apply to a successor holder all affiliates and assigns of the Note and WarrantPurchaser.

Ownership Limitation. If Notwithstanding anything to the contrary contained in this Warrant or the other Transaction Documents, if at any time after the Closing, the Buyer Investor shall or would receive be issued shares of Common Stock in payment of interest or principal under Note, upon conversion any of the NoteTransaction Documents, under the Warrant, or upon exercise of the Warrant, so that the Buyer would, but such issuance would cause Investor (together with other shares of Common Stock held by it or its Affiliates, affiliates) to own or beneficially own by virtue of such action or receipt of additional shares of Common Stock a number of shares exceeding 4.99% of the number of shares of Common Stock outstanding on such date (the “Maximum Percentage”), the Company shall not be obligated and shall must not issue to the Buyer Investor shares of Common Stock which would exceed the Maximum Percentage. The shares of Common Stock issuable to Investor that would cause the Maximum Percentage to be exceeded are referred to herein as the “Ownership Limitation Shares”. Company will reserve the Ownership Limitation Shares for the exclusive benefit of Investor. From time to time, but only until Investor may notify Company in writing of the number of the Ownership Limitation Shares that may be issued to Investor without causing Investor to exceed the Maximum Percentage. Upon receipt of such notice, Company shall be unconditionally obligated to immediately issue such designated shares to Investor, with a corresponding reduction in the number of the Ownership Limitation Shares. Notwithstanding the foregoing, the term “4.99%” above shall be replaced with “9.99%” at such time as the Maximum Percentage would no longer Market Capitalization is less than $10,000,000.00. Notwithstanding any other provision contained herein, if the term “4.99%” is replaced with “9.99%” pursuant to the preceding sentence, such change to “9.99%” shall be exceeded by any such receipt of shares of Common Stock by the Buyerpermanent. Upon delivery of a By written notice to the Company, the Buyer Investor may from time to time increase (with such increase not effective until the sixty-first (61st) day after delivery of such notice) increase, decrease or decrease waive the Maximum Percentage as to any other percentage not in excess of 4.99% as specified in such notice; provided that (i) itself but any such increase in the Maximum Percentage waiver will not be effective until the sixty-first (61st) 61st day after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to the Buyer and its Affiliatesdelivery thereof. The provisions of this paragraph shall be construed foregoing 61-day notice requirement is enforceable, unconditional and implemented in a manner otherwise than in strict conformity with the terms of this Section 5.13 to the extent necessary to correct this paragraph (or any portion of this paragraph) which may be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 5.13 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived non-waivable and shall apply to a successor holder all affiliates and assigns of the Note and WarrantInvestor.

Ownership Limitation. If Notwithstanding anything to the contrary contained in this Warrant or the other Transaction Documents, if at any time after the Closing, the Buyer Holder shall or would receive be issued shares of Common Stock in payment of interest or principal under Note, upon conversion any of the NoteTransaction Documents, under but such issuance would cause the Warrant, or upon exercise of the Warrant, so that the Buyer would, Holder (together with other shares of Common Stock held by it or its Affiliates, ) to own or beneficially own by virtue of such action or receipt of additional shares of Common Stock a number of shares exceeding 4.999.99% of the number of shares of Common Stock outstanding on such date (the “Maximum Percentage”), the Company shall not be obligated and shall must not issue to the Buyer Holder shares of the Common Stock which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage would no longer be exceeded by any such receipt of . The shares of Common Stock by issuable to the BuyerHolder that would cause the Maximum Percentage to be exceeded are referred to herein as the “Ownership Limitation Shares”. The Company will reserve the Ownership Limitation Shares for the exclusive benefit of the Holder. From time to time, the Holder may notify the Company in writing of the number of the Ownership Limitation Shares that may be issued to the Holder without causing the Holder to exceed the Maximum Percentage. Upon delivery receipt of such notice, the Company shall be unconditionally obligated to immediately issue such designated shares to the Holder, with a corresponding reduction in the number of the Ownership Limitation Shares. By written notice to the Company, the Buyer Holder may from time to time increase (with such increase not effective until the sixty-first (61st) day after delivery of such notice) increase, decrease or decrease waive the Maximum Percentage as to any other percentage not in excess of 4.99% as specified in such notice; provided that (i) itself but any such increase in the Maximum Percentage waiver will not be effective until the sixty-first (61st) 61st day after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to the Buyer and its Affiliatesdelivery thereof. The provisions of this paragraph shall be construed foregoing 61-day notice requirement is enforceable, unconditional and implemented in a manner otherwise than in strict conformity with the terms of this Section 5.13 to the extent necessary to correct this paragraph (or any portion of this paragraph) which may be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 5.13 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived non-waivable and shall apply to a successor holder all Affiliates and assigns of the Note and WarrantHolder.

Ownership Limitation. If Notwithstanding anything to the contrary contained in this Agreement, if at any time after the Closing, the Buyer Purchaser shall or would receive be issued shares of Common Stock in payment of interest or principal under Notehereunder, upon conversion of but such issuance would cause the Note, under the Warrant, or upon exercise of the Warrant, so that the Buyer would, Purchaser (together with other shares of Common Stock held by it or its Affiliates, affiliates) to own or beneficially own by virtue of such action or receipt of additional shares of Common Stock a number of shares exceeding 4.99% of the number of shares of Common Stock outstanding on such date Maximum Percentage (as defined in the “Maximum Percentage”Warrant), the Company shall not be obligated and shall must not issue to the Buyer Purchaser shares of the Common Stock which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage would no longer be exceeded by any such receipt of . The shares of Common Stock by issuable to the BuyerPurchaser that would cause the Maximum Percentage to be exceeded are referred to herein as the “Ownership Limitation Shares”. The Company will reserve the Ownership Limitation Shares for the exclusive benefit of the Purchaser. From time to time, the Purchaser may notify the Company in writing of the number of the Ownership Limitation Shares that may be issued to the Purchaser without causing the Purchaser to exceed the Maximum Percentage. Upon delivery receipt of such notice, the Company shall be unconditionally obligated to immediately issue such designated shares to the Purchaser, with a corresponding reduction in the number of the Ownership Limitation Shares. For purposes of this Section, beneficial ownership of Common Stock will be determined under Section 13(d) of the 1934 Act, as amended. By written notice to the Company, the Buyer Purchaser may from time to time increase (with such increase not effective until the sixty-first (61st) day after delivery of such notice) increase, decrease or decrease waive the Maximum Percentage as to any other percentage not in excess of 4.99% as specified in such notice; provided that (i) itself but any such increase in the Maximum Percentage waiver will not be effective until the sixty-first (61st) 61st day after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to the Buyer and its Affiliatesdelivery thereof. The provisions of this paragraph shall be construed foregoing 61-day notice requirement is enforceable, unconditional and implemented in a manner otherwise than in strict conformity with the terms of this Section 5.13 to the extent necessary to correct this paragraph (or any portion of this paragraph) which may be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 5.13 or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived non-waivable and shall apply to a successor holder all affiliates and assigns of the Note and WarrantPurchaser.