Common use of Limitation on Right and Power to Exercise Clause in Contracts

Limitation on Right and Power to Exercise. Any provision in this Debenture or any other document to the contrary not withstanding, the Holder shall not have the right or power to convert this Debenture into Common Stock, either in whole or in part, and any attempt to do so shall be void, if, after having given effect to such conversion, the Holder shall be or shall be deemed to be the beneficial owner of ten percent (10%) or more of the then outstanding Common Stock within the meaning or for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended (the "EXCHANGE ACT"), or as the term "BENEFICIAL OWNER" is defined in Rule 13d-3 of the Act.

Appears in 4 contracts

Samples: Rubber Technology International Inc /Nv, Pick Ups Plus Inc, Nexland Inc

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Limitation on Right and Power to Exercise. Any provision in this Debenture or any other document to the contrary not withstanding, the Holder shall not have the right or power to convert this Debenture into Common Stock, either in whole or in part, and any attempt to do so shall be void, if, after having given effect to such conversion, the Holder shall be or shall be deemed to be the beneficial owner of ten percent (10%) or more of the then outstanding Common Stock within the meaning or for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended (the "EXCHANGE ACTExchange Act"), or as the term "BENEFICIAL OWNERbeneficial owner" is defined in Rule 13d-3 of the Act.

Appears in 1 contract

Samples: Condor Capital Inc

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