Common use of Limit of Exercise Clause in Contracts

Limit of Exercise. The Warrant Holder, together with the Warrant Holder’s “affiliates,” as such term is defined in the Securities and Exchange Commission’s rules and regulations, shall not be entitled to exercise any Plan Warrant if, after giving effect to such exercise, the Warrant Holder and its Affiliates would beneficially own in excess of 4.99% of the outstanding Shares of an Issuer. For purposes of the foregoing calculation, the Shares beneficially owned by a Warrant Holder and its Affiliates or acquired by the Warrant Holder and its Affiliates, shall include the number of Shares issuable upon exercise of such Plan Warrant with respect to which the determination is being made, but shall exclude the number of Shares that would be issuable upon (i) exercise of the remaining, non-exercised portion of any Plan Warrants issued by the Issuer and beneficially owned by such Warrant Holder and its Affiliates and subject to a limitation on conversion or exercise and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of an Issuer subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Limit of Exercise. The Warrant Holder, together with the Warrant Holder’s “'s "affiliates,” " as such term is defined in the Securities and Exchange Commission’s 's rules and regulations, shall not be entitled to exercise any Plan Warrant if, after giving effect to such exercise, the Warrant Holder and its Affiliates would beneficially own in excess of 4.99% of the outstanding Shares of an Issuer. For purposes of the foregoing calculation, the Shares beneficially owned by a Warrant Holder and its Affiliates or acquired by the Warrant Holder and its Affiliates, shall include the number of Shares issuable upon exercise of such Plan Warrant with respect to which the determination is being made, but shall exclude the number of Shares that would be issuable upon (i) exercise of the remaining, non-exercised portion of any Plan Warrants issued by the Issuer and beneficially owned by such Warrant Holder and its Affiliates and subject to a limitation on conversion or exercise and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of an Issuer subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “"Exchange Act”").