Leak Out Provision. During the Lockup Period, the undersigned may sell the Company Securities provided that the undersigned does not sell more than 10% of the average daily volume of the common stock in any given trading day, as reported by the NASDAQ Stock Market.
Leak Out Provision. Beginning 14 days from the date of Closing and subject to compliances with the registration requirements or exemption therefrom of applicable securities laws, Buyer agrees to allow the sale or transfer by the Halters of their 100,000 shares of common stock of the Company, at the cumulative rate of 25,000 shares per month for four months. "Cumulative" means that if any of the 25,000 shares for a month are not sold or transferred, same may be sold the following months or months along with the 25,000 shares for that month or months.
Leak Out Provision. Notwithstanding the restrictions in Section 1 herein, the undersigned may sell up to 5% of the Parent Securities owed by the undersigned in any given calendar month, beginning with the first full calendar month after the date that is the twelve month anniversary of this Letter Agreement.
Leak Out Provision. Notwithstanding the restrictions in Section 1 herein, beginning on the six (6) month anniversary of this Letter Agreement and continuing until the expiration of the Lockup Period, the undersigned may sell, on any trading day, Parent Securities in an amount equal to up to 10% of the average daily volume of the Parent’s common stock on the date of such proposed sale.
Leak Out Provision. If, during the Lockup Period, a Registration Statement on Form S-1 covering the resale of the Company Securities held by the undersigned is declared effective by the Securities and Exchange Commission, then the undersigned is permitted to sell (a) 1/12 of such registered Company Securities per month for the remainder of the Lockup Period, or (b) additional shares on any trading day if such additional sales will not exceed 15% of that day’s total trading volume.
Leak Out Provision. Notwithstanding the restrictions above, on or after the six (6) month anniversary of the Initial Lockup Date, the Subscriber may sell up to fifty (50%) percent of each of the Securities comprising the Units subscribed (Conversion Shares and Warrant Shares).
Leak Out Provision. Notwithstanding the lockup provisions of Paragraph 1, beginning on the date the Shares are registered for resale and every day thereafter, one twentieth (1/20) of the Shares subject to this Letter Agreement shall be released from the restrictions contained herein and may be freely sold, transferred, traded or otherwise disposed of. Notwithstanding the lockup provisions of Paragraph 1, in the event that any Shares are not registered for resale on the 6 months anniversary of the Shares being issued to the undersigned (“Six-Month Date”), the undersigned may sell, transfer, trade or otherwise dispose of one twentieth (1/20) of the Shares on the Six-Month Date and every day thereafter.
Leak Out Provision. Notwithstanding the lockup provisions of Paragraph 1, beginning on the six month anniversary of the date hereof and on every six month anniversary thereafter until the termination of the Lockup Period, 25% of the Company Securities subject to this Letter Agreement shall be released from the restrictions contained herein.
Leak Out Provision. Notwithstanding the restrictions in Section 1 herein, beginning on the date that is the thirteen (13) month anniversary of the Trigger Event and ending upon expiration of the Lockup Period, the undersigned may sell Parent Successor Securities in an amount up to 5% of the average daily volume of Pubco’s common stock on any given trading day.
Leak Out Provision. Notwithstanidng anything herein to the contrary, the undersigned shall be permitted to sell, commencing on the date hereof, a maximum aggregate of ____ shares of the Company’s common stock (such aggregate number of shares, the “Leakout Shares”). The Leakout Shares that are permitted to be sold by all of the Lockup Holders shall collectively be referred to as the “Aggregate Leakout Shares”). Within three (3) days of the undersigned selling all of his Leakout Shares, the undersigned will complete, execute and return to the Company the Certificate of Sale, attached hereto as Exhibit A (the “Sale Certficiate”). Upon the Company’s receipt of Sale Certificates from all of the Lockup Holders, the restrictions of this Lock-up Agreement shall terminate.
