Common use of PROHIBITION AGAINST SHORT SALES Clause in Contracts

PROHIBITION AGAINST SHORT SALES. No holder of Series B Preferred Stock shall, so long as such person is a holder of Series B Preferred Stock, engage in or agree or attempt to engage in any "short sale" (as such term is defined in Rule 3b-3 promulgated under the Securities Exchange Act of 1934, as amended, or any successor rule thereto) of the Corporation's Common Stock. As a condition to the ability or right of any holder of Series B Preferred Stock to participate in any redemption or conversion (whether voluntary or, to the extent provided in Section 6(d)(iii) below, mandatory conversion), notwithstanding any contrary provision in this Certificate of Designation or otherwise, such holder shall certify to the Corporation's reasonable satisfaction that such holder has complied with this Section 1(d).