Common use of NASDAQ Limitation Clause in Contracts

NASDAQ Limitation. Notwithstanding anything to the contrary herein, the Lender may not effectuate any Conversion and Borrower may not issue any shares of Common Stock in connection therewith that would trigger any Nasdaq requirement to obtain stockholder approval prior to a Conversion or any issuance of shares of Common Stock in connection therewith that would be in excess of that number of shares of Common Stock equivalent to 19.9% of the number of shares of Common Stock as of the Effective Date; provided, however, that, subject dot the terms herein, the Noteholder may effectuate any Conversion and the Borrower shall be obligated to issue shares of Common Stock in connection therewith that would not trigger such a requirement. This restriction shall be of no further force or effect upon the approval of the Borrower’s stockholders in compliance with Nasdaq’s stockholder voting requirements.

NASDAQ Limitation. Notwithstanding anything to the contrary herein, the Lender may not effectuate any Conversion and Borrower JanOne may not issue any shares of Common Stock in connection therewith that would trigger any Nasdaq requirement to obtain stockholder approval prior to a Conversion or any issuance of shares of Common Stock in connection therewith that would be in excess of that number of shares of Common Stock equivalent to 19.9% of the number of shares of Common Stock as of the Effective Date; provided, however, that, subject dot that the terms herein, the Noteholder Lender may effectuate any Conversion and the Borrower JanOne shall be obligated to issue shares of Common Stock in connection therewith that would not trigger such a requirement. This restriction shall be of no further force or effect upon the approval of the Borrower’s stockholders in compliance with Nasdaq’s stockholder voting requirements.