Common use of Certain Trading Restrictions Clause in Contracts

Certain Trading Restrictions. The Purchaser agrees that during the five Trading Days preceding each Put Date (as defined in the Debentures) it shall not enter into any Short Sales (as defined herein). For purposes of this Section 3.13, a "Short Sale" by the Purchaser shall mean a sale of Common Stock by the Purchaser that is marked as a short sale and that is made at a time when there is no equivalent offsetting long position in Common Stock held by the Purchaser. For purposes of determining whether there is an equivalent offsetting long position in Common Stock held by the Purchaser, Underlying Shares that are issuable on exercise of the Warrants or conversion of the Debentures on a Trading Day shall be deemed to be held long by the Purchaser on such Trading Day.

Appears in 2 contracts

Samples: Convertible Debenture Purchase Agreement (Tidel Technologies Inc), Convertible Debenture Purchase Agreement (Tidel Technologies Inc)

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Certain Trading Restrictions. The Each Purchaser agrees that during the five Trading Days preceding each Put Date (as defined in the Debentures) it shall not enter into any Short Sales (as defined herein). For purposes of this Section 3.133.14, a "Short Sale" by the a Purchaser shall mean a sale of Common Stock by the such Purchaser that is marked as a short sale and that is made at a time when there is no equivalent offsetting long position in Common Stock held by the Purchaser. For purposes of determining whether there is an equivalent offsetting long position in Common Stock held by the a Purchaser, Underlying Shares that are issuable on exercise of the Warrants or conversion of the Debentures on a Trading Day shall be deemed to be held long by the such Purchaser on such Trading Day.

Appears in 2 contracts

Samples: Convertible Debenture Purchase Agreement (Tidel Technologies Inc), Convertible Debenture Purchase Agreement (Tidel Technologies Inc)

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