Common use of Limitation on Amount of Conversion and Ownership Clause in Contracts

Limitation on Amount of Conversion and Ownership. Notwithstanding anything to the contrary in this Debenture, in no event shall the Holder or any of its affiliates be entitled to convert that amount of Debenture, and in no event shall the Company permit that amount of conversion, into that number of shares, which when added to the sum of the number of shares of Common Stock beneficially owned, (as such term is defined under Section 13(d) and Rule 13d-3 of the Securities Exchange Act of 1934, as may be amended, (the "1934 Act")), by the Holder, would exceed 4.99% of the number of shares of Common Stock outstanding on the Conversion Date, as determined in accordance with Rule 13d-1(j) of the 1934 Act. In the event that the number of shares of Common Stock outstanding as determined in accordance with Section 13(d) of the 1934 Act is different on any Conversion Date than it was on the Closing Date, then the number of shares of Common Stock outstanding on such Conversion Date shall govern for purposes of determining whether the Holder would be acquiring beneficial ownership of more than 4.99% of the number of shares of Common Stock outstanding on such Conversion Date. However, nothing in this Article 3.2(i) shall be read to reduce the amount of principal, interest or penalties, if any, due to the Holder.

Appears in 1 contract

Samples: Debenture Agreement (Simplagene Usa Inc)

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Limitation on Amount of Conversion and Ownership. Notwithstanding anything to the contrary in this DebentureAgreement, in no event shall the Holder or any of its affiliates be entitled to convert that amount of DebenturePreferred Series D, and in no event shall the Company permit that amount of conversion, into that number of shares, which when added to the sum of the number of shares of Common Stock beneficially owned, (as such term is defined under Section 13(d) and Rule 13d-3 of the Securities Exchange Act of 1934, as may be amended, (the "1934 “Exchange Act")), by the Holder, would exceed four and ninety-nine one hundredths percent (4.99% %) of the number of shares of Common Stock outstanding on the Conversion Date, as determined in accordance with Rule 13d-1(j) of the 1934 Exchange Act. In the event that the number of shares of Common Stock outstanding as determined in accordance with Section 13(d) of the 1934 Exchange Act is different on any Conversion Date than it was on the Closing Date, then the number of shares of Common Stock outstanding on such Conversion Date shall govern for purposes of determining whether the Holder would be acquiring beneficial ownership of more than four and ninety-nine one hundredths percent (4.99% %) of the number of shares of Common Stock outstanding on such Conversion Date. However, nothing in this Article Section 3.2(i) shall be read to reduce the amount of principal, interest Interest or penalties, if any, due to the Holder.. Intentionally left blank DHL DRA

Appears in 1 contract

Samples: Series D Convertible Preferred Stock Purchase Agreement (Egpi Firecreek, Inc.)

Limitation on Amount of Conversion and Ownership. Notwithstanding anything to the contrary in this DebentureAgreement, in no event shall the Holder or any of its affiliates Investor be entitled to convert that amount of DebentureSeries B Preferred Stock, and in no event shall the Company permit that amount of conversion, into that number of shares, which when added to the sum of the number of shares of Common Stock beneficially owned, (as such term is defined under Section 13(d) and Rule 13d-3 of the Securities Exchange Act of 1934, as may be amended, (the "1934 “Exchange Act")), by the HolderInvestor, would exceed four and ninety-nine one hundredths percent (4.99% %) of the number of shares of Common Stock outstanding on the Conversion Date, as determined in accordance with Rule 13d-1(j) of the 1934 Exchange Act. In the event that the number of shares of Common Stock outstanding as determined in accordance with Section 13(d) of the 1934 Exchange Act is different on any Conversion Date than it was on the Closing Date, then the number of shares of Common Stock outstanding on such Conversion Date shall govern for purposes of determining whether the Holder Investor would be acquiring beneficial ownership of more than four and ninety-nine one hundredths percent (4.99% %) of the number of shares of Common Stock outstanding on such Conversion Date. However, nothing in this Article 3.2(i) Section 5.13 shall be read to reduce the amount of principalCommon Stock, interest Dividends or penalties, if any, due to the Holder.

Appears in 1 contract

Samples: Series B Convertible Preferred Stock Purchase Agreement (Nighthawk Systems Inc)

Limitation on Amount of Conversion and Ownership. Notwithstanding anything to the contrary in this Debenture, in no event shall the Holder or any of its affiliates be entitled to convert that amount of Debenture, and in no event shall the Company permit that amount of conversion, into that number of shares, which when added to the sum of the number of shares of Common Stock beneficially owned, (as such term is defined under Section 13(d) and Rule 13d-3 of the Securities Exchange Act of 1934, as may be amended, (the "1934 Act")), by the Holder, would exceed four and ninety-nine hundredths percent (4.99% %) of the number of shares of Common Stock outstanding on the Conversion Date, as determined in accordance with Rule 13d-1(j) of the 1934 Act. In the event that the number of shares of Common Stock outstanding as determined in accordance with Section 13(d) of the 1934 Act is different on any Conversion Date than it was on the Closing Date, then the number of shares of Common Stock outstanding on such Conversion Date shall govern for purposes of determining whether the Holder would be acquiring beneficial ownership of more than four and ninety-nine hundredths percent (4.99% %) of the number of shares of Common Stock outstanding on such Conversion Date. However, nothing in this Article 3.2(i) shall be read to reduce the amount of principal, interest or penalties, if any, due to the Holder.

Appears in 1 contract

Samples: 5 G Wireless Communications Inc

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Limitation on Amount of Conversion and Ownership. Notwithstanding anything to the contrary in this Debenture, in no event shall the Holder or any of its affiliates be entitled to convert that amount of Debenture, and in no event shall the Company permit that amount of conversionConversion, into that number of shares, which when added to the sum of the number of shares of Common Stock beneficially owned, (as such term is defined under Section 13(d) and Rule 13d-3 of the Securities Exchange Act of 1934, as may be amended, (the "1934 “Exchange Act")), by the Holder, would exceed four and ninety-nine one hundredths percent (4.99% %) of the number of shares of Common Stock outstanding on the Conversion Date, as determined in accordance with Rule 13d-1(j) of the 1934 Exchange Act. In the event that the number of shares of Common Stock outstanding as determined in accordance with Section 13(d) of the 1934 Exchange Act is different on any Conversion Date than it was on the Closing Date, then the number of shares of Common Stock outstanding on such Conversion Date shall govern for purposes of determining whether the Holder would be acquiring beneficial ownership of more than four and ninety-nine one hundredths percent (4.99% %) of the number of shares of Common Stock outstanding on such Conversion Date. However, nothing in this Article Section 3.2(i) shall be read to reduce the amount of principal, interest liquidated damages or penalties, if any, due to the Holder.

Appears in 1 contract

Samples: www.sec.gov

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