Common use of Qualified Small Business Clause in Contracts

Qualified Small Business. The Company represents and warrants to the Purchasers that, to the best of its knowledge, the Company is a “qualified small business” within the meaning of Section 1202(d) of the Code, as of the date hereof and the Shares should qualify as “qualified small business stock” as defined in Section 1202(c) of the Code as of the date hereof. The Company further represents and warrants that, as of the date hereof, it meets the “active business requirement” of Section 1202(e) of the Code, and it has made no “significant redemptions” within the meaning of Section 1202(c)(3)(B) of the Code.

Qualified Small Business. The Company represents and warrants to the Purchasers that, to the best of its knowledge, the Company is a “"qualified small business” " within the meaning of Section 1202(d) of the Internal Revenue Code of 1986, as amended (the "Code, ") as of the date hereof and the Shares should qualify as “"qualified small business stock” " as defined in Section 1202(c) of the Code as of the date hereof. The Company further represents and warrants that, as of the date hereof, it meets the “"active business requirement” " of Section 1202(e) of the Code, and it has made no “"significant redemptions” " within the meaning of Section 1202(c)(3)(B) of the Code.

Qualified Small Business. The Company represents and warrants to the Purchasers Purchaser that, to the best of its knowledge, the Company is a “qualified small business” within the meaning of Section 1202(d) of the Internal Revenue Code of 1986, as amended (the “Code”), as of the date hereof and the Shares should qualify as “qualified small business stock” as defined in Section 1202(c) of the Code as of the date hereof. The Company further represents and warrants that, as of the date hereof, it meets the “active business requirement” of Section 1202(e) of the Code, and it has made no “significant redemptions” within the meaning of Section 1202(c)(3)(B) of the Code.

Qualified Small Business. The Company represents and warrants to the Purchasers that, to the best of its knowledge, the Company is a “qualified small business” within the meaning of Section 1202(d) of the Internal Revenue Code of 1986, as amended (the “Code”), as of the date hereof and the Shares should qualify as “qualified small business stock” as defined in Section 1202(c) of the Code as of the date hereof. The Company further represents and warrants that, as of the date hereof, it meets the “active business requirement” of Section 1202(e) of the Code, and it has made no “significant redemptions” within the meaning of Section 1202(c)(3)(B) of the Code.

Qualified Small Business. The Company represents and warrants to the Purchasers that, to the best of its knowledge, the Company is a “qualified small business” within the meaning of Section 1202(d) of the Internal Revenue Code of 1986, as amended (the “Code”), as of the date hereof and the Shares should qualify as “qualified small business stock” as defined in Section 1202(c) of the Code as of the date hereof. The Company further represents and warrants that, as of the date hereof, it meets the “active business requirement” of Section 1202(e) of the Code, and it has made no “significant redemptions” within the meaning of Section 1202(c)(3)(B) of the Code.

Qualified Small Business. The Company represents and warrants to the Purchasers that, to the best of its knowledge, the Company is should qualify as a “"qualified small business” " within the meaning of Section 1202(d) of the Code, as of the date hereof and the Shares should qualify as “qualified small business stock” as defined in Section 1202(c) of the Code as of the date hereof, and the Series B Preferred Stock sold hereunder is being acquired at its original issue in exchange for cash. The Company further represents and warrants that, as of the date hereof, it meets the “"active business requirement” " of Section 1202(e) of the Code, and it has made no “"significant redemptions” " within the meaning of Section 1202(c)(3)(B) of the Code.

Qualified Small Business. The Company represents and warrants to the Purchasers that, to Investors that as of the best date of its knowledgethe Closing, the Company is a “"qualified small business” " within the meaning of Section 1202(d) of the Internal Revenue Code of 1986, as amended (the "Code, ") as of the date hereof and the Shares shares of Series C Preferred Stock sold hereunder should qualify as “"qualified small business stock” " as defined in Section 1202(c) of the Code as of the date hereof. The Company further represents and warrants that, as of the date hereof, it meets the “"active business requirement” " of Section 1202(e) of the Code, and it has made no “"significant redemptions” " within the meaning of Section 1202(c)(3)(B) of the Code.

Qualified Small Business. The Company represents and warrants to the Purchasers that, to Investors that as of the best date of its knowledgethe Closing, the Company is a “"qualified small business” " within the meaning of Section 1202(d) of the Internal Revenue Code of 1986, as amended (the "Code, ") as of the date hereof and the Shares should qualify as “shares of Series D Preferred Stock sold hereunder is "qualified small business stock” " as defined in Section 1202(c) of the Code as of the date hereof. The Company further represents and warrants that, as of the date hereof, it meets the “"active business requirement” " of Section 1202(e) of the Code, and it has made no “"significant redemptions” " within the meaning of Section 1202(c)(3)(B) of the Code.