Common use of Lock-Up Provision Clause in Contracts

Lock-Up Provision. In the event that the Board of Directors of the Company determines, in its sole and absolute discretion, that it is in the best interests of the Company and its shareholders to cause Holder to execute a lockup/leak-out agreement related to the common stock underlying the Warrants (whether such underlying common stock is registered or not), Holder specifically agrees to execute such an agreement as presented by the Company. The terms and conditions of such lockup/leak-out agreement, if necessary, shall be set by the Company, in its sole and absolute discretion, and will include, but not be limited to, at least a twelve (12) month lockup/leak-out provision. In the event that Holder refuses to execute the lockup/leak-out agreement (which may be a condition precedent to the issuance of the stock underlying the Warrants), the Holder herewith specifically agrees that the Company may refuse to issue the common stock issuable upon exercise of the Warrants.

Lock-Up Provision. In the event that the Board of Directors of the Company determines, in its sole and absolute discretion, that it is in the best interests of the Company and its shareholders to cause Holder to execute a lockup/leak-out agreement related to the common stock underlying the Warrants (whether such underlying common stock is registered or not), Holder specifically agrees to execute such an agreement as presented by the Company. The terms and conditions of such lockup/leak-out agreement, if necessary, shall be set by the Company, in its sole and absolute discretion, and will include, but not be limited to, at least a twelve (12) 12 month lockup/leak-out provision. In the event that Holder refuses to execute the lockup/leak-out agreement (which may be a condition precedent to the issuance of o the stock underlying the Warrants), the Holder herewith specifically agrees that the Company may refuse to issue the common stock issuable upon exercise of the Warrants.