Common use of Capital Raising Limitations Clause in Contracts

Capital Raising Limitations. During the period from the date of this Agreement until the Termination Date, the Company shall not issue or sell, or agree to issue or sell Equity Securities (as defined below), for cash in private capital raising transactions without obtaining the prior written approval of the Investor of this Offering (the limitations referred to in this subsection 6.6.1 are collectively referred to as the "Capital Raising Limitations"), except that, provided that the Company has completed at least one Put during each Calendar Month since the Effective Date, the Company may issue and sell Equity Securities without the Investor's written approval to the extent that the aggregate sum of all such placements of Equity Securities do not exceed the difference of (x) $500,000 multiplied by the number of Puts that the Company has completed since the Effective Date, minus (y) the sum of the Individual Put Limits for the Puts that the Company has completed since the Effective Date ((x) minus (y) being referred to hereafter as the "Equity Line Shortfall"). For purposes hereof, the following shall be collectively referred to herein as, the "Equity Securities": (i) Common Stock or any other equity securities, (ii) any debt or equity securities which are convertible into, exercisable or exchangeable for, or carry the right to receive additional shares of Common Stock or other equity securities, or (iii) any securities of the Company pursuant to an equity line structure or format similar in nature to this Offering.

Capital Raising Limitations. During the period from the date of this Agreement until the date that is one year after the Termination Date, the Company shall not issue or sell, or agree to issue or sell Equity Securities (as defined below), for cash in private capital raising transactions without obtaining the prior written approval of the Investor of this the Offering (the limitations referred to in this subsection 6.6.1 6.5.1 are collectively referred to as the "Capital Raising Limitations"), except that, provided that the Company has completed at least one Put during each Calendar Month since the Effective Date, the Company may issue and sell Equity Securities without the Investor's written approval to the extent that the aggregate sum of all such placements of Equity Securities do not exceed the difference of (x) $500,000 multiplied by the number of Puts that the Company has completed since the Effective Date, minus (y) the sum of the Individual Put Limits for the Puts that the Company has completed since the Effective Date ((x) minus (y) being referred to hereafter as the "Equity Line Shortfall"). For purposes hereof, the following shall be collectively referred to herein as, the "Equity Securities": (i) Common Stock or any other equity securities, (ii) any debt or equity securities which are convertible into, exercisable or exchangeable for, or carry the right to receive additional shares of Common Stock or other equity securities, or (iii) any securities of the Company pursuant to an equity line structure or format similar in nature to this Offering.. Notwithstanding the above, the Company may issue or sell Equity Securities without the Investor's written approval (subject to the Right of First Refusal described below)("Unauthorized Equity Securities"), provided that the Company may not deliver an Advance Put Notice or a Put Notice if, on the date of such proposed Advance Put Notice or Put Notice, the dollar amount of Unauthorized Equity Securities outstanding exceeds the following amount:

Capital Raising Limitations. During the period from the date of this Agreement until the the Termination Date, the Company shall not issue or sell, or agree to issue or sell Equity Securities (as defined below), for cash in private capital raising transactions without obtaining the prior written approval of the Investor of this Offering (the limitations referred to in this subsection 6.6.1 are collectively referred to as the "Capital Raising Limitations"), except that, provided that the Company has completed at least one Put during each Calendar Month since the Effective Date, the Company may issue and sell Equity Securities without the Investor's written approval to the extent that the aggregate sum of all such placements of Equity Securities do not exceed the difference of (x) $500,000 multiplied by the number of Puts that the Company has completed since the Effective Date, minus (y) the sum of the Individual Put Limits for the Puts that the Company has completed since the Effective Date ((x) minus (y) being referred to hereafter as the "Equity Line Shortfall"). For purposes hereof, the following shall be collectively referred to herein as, the "Equity Securities": (i) Common Stock or any other equity securities, (ii) any debt or equity securities which are convertible into, exercisable or exchangeable for, or carry the right to receive additional shares of Common Stock or other equity securities, or (iii) any securities of the Company pursuant to an equity line structure or format similar in nature to this Offering.