Common use of No Price Stabilization or Manipulation; Compliance with Regulation M Clause in Contracts

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to activities by the Underwriters, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of its subsidiaries has not taken, directly or indirectly, without giving effect to activities by the UnderwritersRepresentatives, any action designed to or that might could reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to activities by the Underwriters, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares Securities, the Common Stock or of any other “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the SharesSecurities, whether to facilitate the sale or resale of any of the Shares Securities or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of its subsidiaries has not taken, directly or indirectly, without giving effect to activities by of the Underwriters, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Shares Securities or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries the Subsidiary has taken, directly or indirectly, without giving effect to and excluding any activities by the Underwriters, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Shares Offered Securities or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to the activities by of the Underwriters, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares shares of Common Stock or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Sharesshares of Common Stock, whether to facilitate the sale or resale of the Shares Offered Securities or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of and its subsidiaries has have not taken, directly or indirectly, without giving effect to activities by the Underwriters, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has have taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving any effect to the activities by the Underwriters, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Shares Underwritten Securities or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to activities by the Underwriters, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to activities by the Underwriters, any action designed to or that might could reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to activities by the Underwriters, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares shares of Common Stock or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Sharesshares of Common Stock, whether to facilitate the sale or resale of the Shares Offered Securities or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to the activities by of the Underwriters, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving any effect to the activities by the Underwriters, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Shares Company or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the SharesOffered ADSs, whether to facilitate the sale or resale of the Shares Offered ADSs or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of its subsidiaries has not taken, directly or indirectly, without giving effect to activities by the UnderwritersAgent, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Placement Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of its subsidiaries has not taken, directly or indirectly, without giving effect to any activities by the Underwriters, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of its subsidiaries has not taken, directly or indirectly, without giving effect to any activities by the Underwriters, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of its subsidiaries has not taken, directly or indirectly, without giving effect to activities by the Underwriters, any action designed to or that might be reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M under the 1934 Act ("Regulation M"). The Company acknowledges that the Underwriters may engage in passive market making transactions in the Offered Shares on the Nasdaq National Market in accordance with Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to activities by the UnderwritersUnderwriter, any action designed to or that might be reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, and without giving effect to any activities by the Underwriters, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to activities by the UnderwritersUnderwriter, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the SharesSecurities, whether to facilitate the sale or resale of the Shares Securities or otherwise, and has taken no or any action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of its subsidiaries has not taken, directly or indirectly, without giving effect to activities by of the Underwriters, any action designed to or that might would reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of and its subsidiaries has have not taken, directly or indirectly, without giving effect to activities by the Underwriters, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares, the Warrant Shares or otherwise, and has have taken no action which would directly or indirectly violate Regulation M.

No Price Stabilization or Manipulation; Compliance with Regulation M. Neither the The Company nor any of its subsidiaries has not taken, directly or indirectly, without giving effect to activities by the UnderwritersRepresentative, any action designed to or that might could reasonably be expected to cause or result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Shares, whether to facilitate the sale or resale of the Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.