Common use of Limitation on Future Financing Clause in Contracts

Limitation on Future Financing. The Company agrees that, except as set forth below, it will not enter into any sale of its securities for cash at a discount to the current market price until the earlier of (i) twelve (12) months from the effective date of the Registration Statement, or (ii) sixty (60) days after the entire $20,000,000 of Shares has been purchased by Purchaser. The foregoing shall not prevent or limit the Company from engaging in any sale of securities (i) in a registered public offering by the Company which is underwritten by one or more established investment banks, (ii) in one or more private placements where the purchasers do not have registration rights, (iii) pursuant to any presently existing or future employee benefit plan which plan has been or is approved by the Company's stockholders, (iv) pursuant to any compensatory plan for a full-time employee or key consultant, (v) in connection with an acquisition or strategic partnership or other business transaction, the principal purpose of which is not simply to raise money, (vi) where the Purchaser is unable to purchase Shares due to the limitation set forth in Section 2.2(ii), or (vii) to which Purchaser gives its written approval.

Limitation on Future Financing. The Company agrees that, except as set forth below, it will not enter into any sale of its securities for cash at a discount to the current market price until the earlier of (i) twelve (12) months from the effective date of the Registration Statement, or (ii) sixty (60) days after the entire $20,000,000 24,000,000 of Shares has been purchased by Purchaser. The foregoing shall not prevent or limit the Company from engaging in any sale of securities (i) in a registered public offering by the Company which is underwritten by one or more established investment banks, (ii) in one or more private placements where the purchasers do not have registration rights, (iii) pursuant to any presently existing or future employee benefit plan which plan has been or is approved by the Company's stockholders, (iv) pursuant to any compensatory plan for a full-time employee or key consultant, (v) in connection with an acquisition or a strategic partnership or other business transaction, the principal purpose of which is not simply to raise money, or (vi) where the Purchaser is unable to purchase Shares due to the limitation set forth in Section 2.2(ii), or (vii) to which Purchaser gives its written approval.

Limitation on Future Financing. The Company agrees that, except as set forth below, it will not enter into any sale of its securities for cash at a discount to the current market price until the earlier of (i) twelve (12) 20 months from the effective date of the Registration StatementEffective Date, or (ii) sixty (60) days after the entire $20,000,000 of Shares Commitment Amount has been purchased by the Purchaser. The foregoing shall not prevent or limit the Company from engaging in any sale of securities (i) in a registered public offering by the Company which is underwritten by one or more established investment banksbanks (not including an equity line type of financing), (ii) in one or more private placements where the purchasers do not have demand registration rights, (iii) pursuant to any presently existing or future employee benefit plan which plan has been or is approved by the Company's stockholders, (iv) pursuant to any compensatory plan for a full-time employee or key consultant, (v) in connection with an acquisition or a strategic partnership or other business transaction, the principal purpose of which is not simply to raise money, or (vi) where the Purchaser is unable to purchase Shares due to the limitation set forth in Section 2.2(ii), or (vii) to which Purchaser gives its prior written approvalconsent.