Common use of Sale Restriction Clause in Contracts

Sale Restriction. a. Holder hereby agrees that during the Restriction Period, the Holder will not sell, transfer or otherwise dispose of any shares of Common Stock or any options, warrants or other rights to purchase shares of Common Stock or any other security of the Company which Holder owns or has a right to acquire as of the date hereof, other than in connection with an offer made to all stockholders of the Company in connection with merger, consolidation or similar transaction involving the Company. Holder further agrees that the Company is authorized to and the Company agrees to place "stop orders" on its books to prevent any transfer of shares of Common Stock or other securities of the Company held by Holder in violation of this Agreement. The Company agrees not to allow to occur any transaction inconsistent with this Agreement. b. Any subsequent issuance to and/or acquisition by Holder of Common Stock or options or instruments convertible into Common Stock will be subject to the provisions of this Agreement. c. The foregoing notwithstanding, each Holder may transfer or sell, during each 30 days, on a cumulative basis, up to five percent (5%) of the Common Stock owned by the Holder on the Closing Date (the “Allowance”), in market transactions if the average daily volume is not less than $50,000 and the closing price of the Common Stock must be not less than $0.10.

Sale Restriction. a. Holder hereby agrees that during the Restriction Period, the Holder will not sell, transfer or otherwise dispose of any shares of Common Stock or any options, warrants or other rights to purchase shares of Common Stock or any other security of the Company which Holder owns or has a right to acquire as of the date hereof, other than in connection with an offer made to all stockholders of the Company in connection with merger, consolidation or similar transaction involving the Company. Holder further agrees that the Company is authorized to and the Company agrees to place "stop orders" on its books to prevent any transfer of shares of Common Stock or other securities of the Company held by Holder in violation of this Agreement. The Company agrees not to allow to occur any transaction inconsistent with this Agreement. b. Any subsequent issuance to and/or acquisition by Holder of Common Stock or options or instruments convertible into Common Stock will be subject to the provisions of this Agreement. c. The foregoing notwithstanding, each Holder may transfer or sell, during each 30 days, on a cumulative basis, up to five percent (5%) of the Common Stock owned by the Holder on the Closing Date (the “Allowance”), in market transactions if the average daily volume is not less than $50,000 and the closing price of the Common Stock must be not less than $0.10. d. Commencing 18 months after the Closing Date and for each six month period thereafter until the Restriction Period has terminated, Holder may convert and sell Series A Preferred Stock owned by Holder into shares of the Company’s Common Stock equal to an aggregate amount of up to no more than 35% of the outstanding shares of the Company’s Common Stock on the date or dates such conversion takes place.

Sale Restriction. a. Holder hereby agrees that during the Restriction Period, the Holder will not sell, transfer or otherwise dispose of any shares of Common Stock or any options, warrants or other rights to purchase shares of Common Stock or any other security of the Company which Holder owns or has a right to acquire as of the date hereof, other than in connection with an offer made to all stockholders of the Company in connection with merger, consolidation or similar transaction involving the Company. Holder further agrees that the Company is authorized to and the Company agrees to place "stop orders" on its books to prevent any transfer of shares of Common Stock or other securities of the Company held by Holder in violation of this Agreement. The Company agrees not to allow to occur any transaction inconsistent with this Agreement. b. Any subsequent issuance to and/or acquisition by Holder of Common Stock or options or instruments convertible into Common Stock will be subject to the provisions of this Agreement. c. The foregoing notwithstanding, each Holder may transfer or sell, during each 30 90 days, on a cumulative basis, up to twenty-five percent (525%) of the Common Stock owned by the Holder on the Closing Date (the “Allowance”), in market transactions only if the average daily volume is not less than $50,000 and 500,000 shares per day for the closing price of the Common Stock must be not less than $0.10previous ten (10) trading days.

Sale Restriction. a. Holder hereby agrees that during the Restriction Period, the Holder will not sell, transfer or otherwise dispose of any shares of Common Stock or any options, warrants or other rights to purchase shares of Common Stock or any other security of the Company which Holder owns or has a right to acquire as of the date hereof, other than in connection with an offer made to all stockholders of the Company in connection with the merger, consolidation or similar transaction involving the Company. Holder further agrees that the Company is authorized to and the Company agrees to place "“stop orders" ” on its books to prevent any transfer of shares of Common Stock or other securities of the Company held by Holder in violation of this Agreement. The Company agrees not to allow to occur any transaction inconsistent with this Agreement. b. Any subsequent issuance to and/or acquisition by Holder of Common Stock or options or instruments convertible into Common Stock will be subject to the provisions of this Agreement. c. The foregoing notwithstanding, each commencing six months after the last Closing Date, the Holder may transfer or sell, during each 30 dayssuccessive three month period, on a cumulative basis, up to five percent the lesser of (5%i) _____ shares of Common Stock or (ii) ___% of the aggregate trading volume of the Common Stock owned during the prior three month period as reported by the Holder on the Closing Date (the “Allowance”), in market transactions if the average daily volume is not less than $50,000 and the closing price of the Common Stock must be not less than $0.10Principal Market.