Common use of RETENTION OF STOCK OWNERSHIP Clause in Contracts

RETENTION OF STOCK OWNERSHIP. (a) Borrower shall not offer, sell or otherwise dispose of any shares of Common Stock or securities exercisable or convertible into shares of Common Stock for a period of twelve (12) months following the Loan Closing without the written approval of the Lenders, other than (i) Common Stock issued upon the conversion of any of the Debentures; (ii) Common Stock issued upon exercise of any presently outstanding employee stock options; and (iii) Common Stock issued upon exercise of any presently outstanding warrants.

RETENTION OF STOCK OWNERSHIP. (a) Borrower shall not offer, sell or otherwise dispose of any shares of Common Stock or securities exercisable or convertible into shares of Common Stock for a period of twelve (12) months following the Loan Closing without the written approval of the LendersLender, other than (i) Common Stock issued upon the conversion of any of the Debentures; and (ii) Common Stock issued upon exercise of any presently outstanding employee stock options; and (iii) Common Stock issued upon exercise of any presently outstanding options or warrants.

RETENTION OF STOCK OWNERSHIP. (a) Borrower The Company shall not offer, sell or otherwise dispose of any shares of Common Stock or securities exercisable or convertible into shares of Common Stock for a period of twelve (12) months following the Loan Closing without the written approval of the LendersLender, other than (i) Common Stock issued upon the conversion of any of the Debentures; and (ii) Common Stock issued upon exercise of any presently outstanding employee stock options; and (iii) Common Stock issued upon exercise options or warrants or employee stock options or warrants granted in the ordinary course of any presently outstanding warrantsbusiness consistent with past practices.

RETENTION OF STOCK OWNERSHIP. (a) Borrower shall not offer, sell or otherwise dispose of any shares of Common Stock or securities exercisable or convertible into shares of Common Stock for a period of twelve (12) months following the Loan Closing without the written approval of the LendersLender, other than (i) Common Stock issued upon the conversion of any of the Debentures; and (ii) Common Stock issued upon exercise of any presently outstanding employee stock options; and (iii) Common Stock issued upon exercise options or warrants or employee stock options or warrants granted in the ordinary course of any presently outstanding warrantsbusiness consistent with past practices.