Common use of Prohibition on Short Sales Clause in Contracts

Prohibition on Short Sales. From and including the date of this Agreement and for so long as the Purchaser holds any outstanding Shares, the Purchaser agrees that it will neither sell the Company’s stock short nor direct, instruct or otherwise influence any of its affiliates, principals or advisors to sell the Company’s stock short. Further, the Purchaser agrees not to pledge, hypothecate, loan or enter into other hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the Company’s Common Stock; provided, however, that the Purchaser shall have the right to pledge the Company’s Shares pursuant to a bona fide margin account or lending arrangement entered into in compliance with law, including applicable securities laws, in such a manner that will not result, or be equivalent to, a short sale of the Company’s Common Stock.

Appears in 3 contracts

Samples: Stock Purchase Agreement (Clean Power Technologies Inc.), Stock Purchase Agreement (Clean Power Technologies Inc.), Stock Purchase Agreement (Clean Power Technologies Inc.)

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Prohibition on Short Sales. From and including the date of this Agreement and for so long as the Purchaser holds any outstanding SharesNotes or Warrants, the Purchaser agrees that it will neither sell the Company’s stock short nor direct, instruct or otherwise influence any of its affiliates, principals or advisors to sell the Company’s stock short. Further, the Purchaser agrees not to pledge, hypothecate, loan or enter into other hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the Company’s Common Stock; provided, provided however, that the Purchaser shall have the right to pledge the Company’s Shares Common Stock pursuant to a bona fide margin account or lending arrangement entered into in compliance with law, including applicable securities laws, in such a manner that will not result, or be equivalent to, a short sale of the Company’s Common Stock.

Appears in 1 contract

Samples: Securities Purchase Agreement (Coastal Pacific Mining Corp)

Prohibition on Short Sales. From and including the date of this Agreement and for so long as the Purchaser holds any outstanding Sharesthe Note, the Purchaser agrees that it will neither sell the Company’s stock short nor direct, instruct or otherwise influence any of its affiliates, principals or advisors to sell the Company’s stock short. Further, the Purchaser agrees not to pledge, hypothecate, loan or enter into other hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the Company’s Common Stock; providedShares, provided however, that the Purchaser shall have the right to pledge the Company’s Common Shares pursuant to a bona fide margin account or lending arrangement entered into in compliance with law, including applicable securities laws, in such a manner that will not result, or be equivalent to, a short sale of the Company’s Common StockShares.

Appears in 1 contract

Samples: Securities Purchase Agreement (Clean Power Technologies Inc.)

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Prohibition on Short Sales. From and including the date of this Agreement and for so long as the Purchaser holds any outstanding SharesNotes, the Purchaser agrees that it will neither sell the Company’s stock short nor direct, instruct or otherwise influence any of its affiliates, principals or advisors to sell the Company’s stock short. Further, the Purchaser agrees not to pledge, hypothecate, loan or enter into other hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the Company’s Common Stock; provided, provided however, that the Purchaser shall have the right to pledge the Company’s Shares Common Stock pursuant to a bona fide margin account or lending arrangement entered into in compliance with law, including applicable securities laws, in such a manner that will not result, or be equivalent to, a short sale of the Company’s Common Stock.

Appears in 1 contract

Samples: Securities Purchase Agreement (Clean Power Technologies Inc.)

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