Common use of New Issuances Clause in Contracts

New Issuances. The Company hereby agrees not to issue or sell any ------------- "NEW SECURITIES" (as defined in this Section 15) in a transaction in which the Company receives any consideration other than cash without the prior written consent of holders of a majority of the outstanding shares of Series B Preferred and Series C Preferred. The Company hereby grants to the Investors a right (the "PREEMPTIVE RIGHT") to purchase all or any part of their pro rata share of any New Securities that the Company may, from time to time, propose to sell and issue solely for cash. Such pro rata share, for purposes of this Preemptive Right, is the ratio of (x) the sum of the number of shares of Common Stock then held by such Investor immediately prior to the issuance of the New Securities, assuming the full conversion of any Preferred Stock held by such Investor (but not including options or warrants to acquire Common Stock or Preferred Stock), to (y) the total number of shares of Common Stock then outstanding immediately prior to the issuance of the New Securities, assuming the full conversion of outstanding Preferred Stock (but not including options or warrants to acquire Common Stock or Preferred Stock). This Preemptive Right shall be subject to the following provisions:

New Issuances. The Company hereby agrees not to issue or sell any ------------- "NEW SECURITIES" (as defined in this Section 1513) in a transaction in which the Company receives any consideration other than cash without the prior written consent of holders of a majority of the outstanding shares of Series B Preferred and Series C Preferred. The Company hereby grants to the Investors a right (the "PREEMPTIVE RIGHT") to purchase all or any part of their pro rata share of any New Securities that the Company may, from time to time, propose to sell and issue solely for cash. Such pro rata share, for purposes of this Preemptive Right, is the ratio of (x) the sum of the number of shares of Common Stock then held by such Investor immediately prior to the issuance of the New Securities, assuming the full conversion of any Series C Preferred Stock held by such Investor (but not including options or warrants to acquire Common Stock or Preferred Stock), ) to (y) the total number of shares of Common Stock then outstanding immediately prior to the issuance of the New Securities, assuming the full conversion of outstanding Preferred Stock (but not including options or warrants to acquire Common Stock or Preferred Stock). This Preemptive Right shall be subject to the following provisions:

New Issuances. The Company hereby agrees not to issue or sell any ------------- "NEW SECURITIES" (as defined in this Section 1516) in a transaction in which the Company receives any consideration other than cash without the prior written consent of holders of a majority of the outstanding shares of Series B Preferred and Series C PreferredStock (voting together as a single class). The Company hereby grants to the Investors Shareholders a right (the "PREEMPTIVE RIGHT") to purchase all or any part of their pro rata share portion of any New Securities that the Company may, from time to time, propose to sell and issue for solely for cash. Such pro rata share, for purposes of this Preemptive Right, is the ratio of (x) the sum of the number of shares of Common Stock then held owned by such Investor immediately prior to Shareholder and the issuance number of shares of Common Stock issuable upon the New Securities, assuming the full conversion of any Preferred Stock held by such Investor (but not including options or warrants to acquire Common Stock or Preferred Stock), to (y) the sum of the total number of shares of Common Stock then outstanding immediately prior to and the issuance total number of shares of Common Stock issuable upon the conversion of the New Securities, assuming the full conversion total number of outstanding shares of Preferred Stock (but not including options or warrants to acquire Common Stock or Preferred Stock)then outstanding. This Preemptive Right shall be subject to the following provisions:

New Issuances. The Company hereby agrees not to issue or sell any ------------- "NEW SECURITIESNew Securities" (as defined in this Section 15) in a transaction in which the Company receives any consideration other than cash without the prior written consent of holders of a majority of the outstanding shares of Series B Preferred and Series C Preferred. The Company hereby grants to the Investors and the Strategic Investors a right (the "PREEMPTIVE RIGHTPreemptive Right") to purchase all or any part of their pro rata share of any New Securities that the Company may, from time to time, propose to sell and issue solely for cash. Such pro rata share, for purposes of this Preemptive Right, is the ratio of (x) the sum of the number of shares of Common Stock then held by such Investor or Strategic Investor immediately prior to the issuance of the New Securities, assuming the full conversion of any Preferred Stock held by such Investor or Strategic Investor (but not including options or warrants to acquire Common Stock or Preferred Stock), to (y) the total number of shares of Common Stock then outstanding immediately prior to the issuance of the New Securities, assuming the full conversion of outstanding Preferred Stock (but not including options or warrants to acquire Common Stock or Preferred Stock). This Preemptive Right shall be subject to the following provisions: