Common use of Hedging Restrictions Clause in Contracts

Hedging Restrictions. Investor agrees not to engage in any short sales, swaps, purchasing of puts, or other hedging activities that involve the direct or indirect use of the Common Stock or any derivative securities based on Common Stock to hedge its investment in the Shares. This Section shall not apply to transactions in which Investor has no beneficial interest made on behalf of third-party clients who are not holders of Shares.

Hedging Restrictions. Investor agrees not to engage in any short sales, swaps, purchasing of puts, or other hedging activities that involve the direct or indirect use of the Common Stock or any derivative securities based on Common Stock to hedge its investment in the Shares. This Section shall not apply to transactions not solicited or directed by Investor and in which Investor has no beneficial interest made on behalf of third-party clients who are not holders of Shares. This Section shall not apply to short sales made within 3 days of Conversion of Shares in amounts not greater than the number of shares issuable upon conversion.