Common use of Restriction on Exercise Clause in Contracts

Restriction on Exercise. by Either the Registered Owner or the Company. Notwithstanding anything herein to the contrary, in no event shall any Registered Owner have the right or be required to exercise this Warrant if as a result of such conversion the aggregate number of shares of Common Stock beneficially owned by such Registered Owner and its Affiliates would exceed 4.99% of the outstanding shares of the Common Stock following such exercise. The Company shall be entitled to rely on a Notice of Exercise in the form of Exhibit A hereto in issuing shares of Common Stock to a Registered Owner. For purposes of this Section 9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended. The provisions of this Section 9 may be waived by a Registered Owner as to itself (and solely as to itself) upon not less than 65 days prior written notice to the Company.