Common use of COMPANY SALES TO OTHERS Clause in Contracts

COMPANY SALES TO OTHERS. During the period of six (6) months ----------------------- after the Effective Date of the Registration Statement, the Company will not sell any securities (other than debt securities issued to financial institutions) not covered by the Registration Statement without the Representative's prior written consent. Excepted from this provision shall be sales of Excluded Shares. The term "Excluded Shares" shall mean options and warrants which are issued and outstanding on the Effective Date of the Registration Statement or which are issued pursuant to a plan ("Plan") which has been approved in writing by the Board of Directors of the Company and the Representative prior to the Effective Date of the Registration Statement.

COMPANY SALES TO OTHERS. During the period of six (6) months ----------------------- after the Effective Date effective date of the Registration Statement, the Company will not sell any securities (other than debt securities issued to financial institutions) not covered by the Registration Statement without the Representative's prior written consent. Excepted from this provision shall be sales of Excluded SharesSecurities. The term "Excluded SharesSecurities" shall mean options and warrants which are issued and outstanding on the Effective Date effective date of the Registration Statement or which are issued pursuant to a plan ("Plan") which has been approved in writing by the Board board of Directors directors of the Company and the Representative prior to the Effective Date effective date of the Registration Statement.