Common use of Restrictions on Securities Clause in Contracts

Restrictions on Securities. Except as a result of any stock splits and reverse stock splits and except as otherwise contemplated hereby, or required by a pre-existing legal or contractual obligation, during the period commencing on the Final Closing Date and ending on the close of business on June 14, 2005, the Company will not extend the expiration date or lower the exercise or the conversion price of any options, warrants, convertible securities or other security purchase rights without the prior written consent of the Placement Agent, which such consent will not be unreasonably withheld, conditioned or delayed.

Restrictions on Securities. Except as a result of any stock splits and reverse stock splits and except as otherwise contemplated hereby, or required by a pre-existing legal or contractual obligation, during the period commencing on the Final Closing Date and ending on the close of business on June 14, 2005time during which any promissory notes issued to Investors are outstanding , the Company will not extend the expiration date or lower the exercise or the conversion price of any options, warrants, convertible securities or other security purchase rights without the Paramount’s prior written consent of the Placement Agent, which such consent will not be unreasonably withheld, conditioned or delayedconsent.

Restrictions on Securities. Except as a result of any stock splits and reverse stock splits and except as otherwise contemplated hereby, or required by a pre-existing legal or contractual obligation, during the twelve (12) month period commencing on following the Final Closing Date and ending on completion of the close of business on June 14, 2005Offering, the Company will not extend the expiration date or lower the exercise or the conversion price of any options, warrants, convertible securities or other security purchase rights without the prior written consent of the Placement Agent, which such consent will not be unreasonably withheld, conditioned or delayedAgent (except as a result of any stock splits and reverse stock splits).

Restrictions on Securities. Except as a result of any stock splits and reverse stock splits and except as otherwise contemplated hereby, or required by a pre-existing legal or contractual obligation, during the 12-month period commencing on the Final Closing Date and ending on the close of business on June 14, 2005Date, the Company will not extend the expiration date or lower the exercise or the conversion price of any options, warrants, convertible securities or other security purchase rights without the Paramount’s prior written consent of the Placement Agent, which such consent will not be unreasonably withheld, conditioned or delayedconsent.