Qualified Small Business. To the best of its knowledge, the Company qualifies as a "Qualified Small Business" as defined in Section 1202(d) of the Code and covenants that so long as its shares are held by the Purchasers (or a transferee in whose hands the shares are eligible to qualify as Qualified Small Business Stock as defined in Section 1202(c) of the Code), it will use its reasonable efforts to cause the shares to qualify as Qualified Small Business Stock; provided that, notwithstanding the foregoing, the Company shall not be obligated to take any action, or refrain from any action, which in its good faith judgment is not in the best interests of the Company or its stockholders.
Appears in 4 contracts
Samples: Series E Preferred Stock and Warrant Purchase Agreement (Exactis Com Inc), Preferred Stock Purchase Agreement (Exactis Com Inc), Preferred Stock Purchase Agreement (Exactis Com Inc)
Qualified Small Business. To The Company represents that, as of the best date of its knowledgethis Agreement, the Company it qualifies as a "Qualified Small Business" as defined in Section 1202(d) of the Code and covenants that so long as its shares are held by the Purchasers (or a transferee in whose hands the shares are eligible to qualify as Qualified Small Business Stock as defined in Section 1202(c) of the Code), it will use its reasonable efforts to cause the shares to qualify as Qualified Small Business Stock; provided that, notwithstanding the foregoing, the Company shall not be obligated to take any action, or refrain from any action, which in its good faith business judgment is not in the best interests of the Company or its stockholders.
Appears in 2 contracts
Samples: Convertible Preferred Stock Purchase Agreement (Starmedia Network Inc), Purchase Agreement (Starmedia Network Inc)
