Common use of Sale Limitation Clause in Contracts

Sale Limitation. Notwithstanding anything contained herein to the contrary, the Holder shall not be entitled to sell any shares of Common Stock of the Company received by the Holder upon the exercise of all or any portion of this Warrant prior to the first anniversary of the date hereof. The sale limitation described on this Section 14 shall automatically become null and void without notice to the Company upon the occurrence and during the continuance of an Event of Default (as defined in the Note).

Appears in 3 contracts

Samples: Jmar Technologies Inc, Jmar Technologies Inc, Jmar Technologies Inc

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Sale Limitation. Notwithstanding anything contained herein to the contrary, the Holder shall not be entitled to sell any an shares of Common Stock of the Company received by the Holder upon the exercise of all or any portion of this Warrant or any other common stock purchase warrant issued by the Company to the Holder on or prior to the first anniversary of date hereof, prior to the three hundred sixty fifth day (365) following the date hereof. The sale limitation described on in this Section 14 15 shall automatically become null and void without any notice to the any Company upon the occurrence and during the continuance of an Event of Default (as defined in the Note)Default.

Appears in 1 contract

Samples: Digital Recorders Inc

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