Common use of TEN PERCENT LIMITATION Clause in Contracts

TEN PERCENT LIMITATION. The number of Put Shares to be purchased on each Put Closing Date by the Investor shall not exceed the number of such shares that, when aggregated with all other shares of Common Stock then owned by the Investor beneficially or deemed beneficially owned by the Investor, would result in the Investor owning more than nine and nine tenths percent (9.99%) of all of such Common Stock as would be outstanding on such Put Closing Date, as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section 6.2(j), in the event that the amount of Common Stock outstanding as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder is greater on a Put Closing Date than on the date upon which the Put Purchase Notice associated with such Put Closing Date is given, the amount of Common Stock outstanding on such Put Closing Date shall govern for purposes of determining whether the Investor, when aggregating all purchases of Common Stock made pursuant to this Agreement and, if any, Shares, would own more than nine and nine tenths percent (9.99%) of the Common Stock following such Put Closing Date.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Econnect), Common Stock Purchase Agreement (Econnect)

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TEN PERCENT LIMITATION. The On each Settlement Date, the number of Put Shares then to be purchased on each Put Closing Date by the Investor Purchaser shall not exceed the number of such shares that, when aggregated with all other shares of Common Stock then owned by the Investor Purchaser beneficially or deemed beneficially owned by the InvestorPurchaser, would result in the Investor Purchaser owning more than nine and nine tenths percent (9.99%) 9.9% of all of such Common Stock as would be outstanding on such Put Closing Settlement Date, as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section 6.2(j5.3(h), in the event that the amount of Common Stock outstanding as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder is greater on a Put Closing Settlement Date than on the date upon which the Put Purchase Draw Down Notice associated with such Put Closing Settlement Date is given, the amount of Common Stock outstanding on such Put Closing Settlement Date shall govern for purposes of determining whether the InvestorPurchaser, when aggregating all purchases of Common Stock made pursuant to this Agreement and, if any, Shares, would own more than nine and nine tenths percent (9.99%) 9.9% of the Common Stock following such Put Closing Settlement Date.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Resourcephoenix Com), Common Stock Purchase Agreement (Rnethealth Com Inc)

TEN PERCENT LIMITATION. The number of Put Shares to be ------------------------- purchased on each Put Closing Date and the number of Warrant Shares issuable upon any exercise of such Warrant by the Investor shall not exceed the number of such shares that, when aggregated with all other shares of Common Stock then owned by the Investor beneficially or deemed beneficially owned by the Investor, would result in the Investor owning more than nine and nine tenths percent (9.99%) % of all of such Common Stock as would be outstanding on such Put Closing DateDate or such date of exercise of the Warrant, as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. In such event, the Investment Amount designated in any Put Purchase Notice shall be reduced by the minimum amount necessary as to not result in the Investor owning more than 9.99% of the Common Stock of the Company. For purposes of this Section 6.2(j7.2(j), in the event that the amount of Common Stock outstanding as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder is greater on a Put Closing Date than on the date upon which the Put Purchase Notice associated with such Put Closing Date is given, the amount of Common Stock outstanding on such Put Closing Date shall govern for purposes of determining whether the Investor, when aggregating all purchases of Common Stock made pursuant to this Agreement and, if any, Shares, would own more than nine and nine tenths percent (9.99%) % of the Common Stock following such Put Closing Date.

Appears in 2 contracts

Samples: Credit Agreement (Staruni Corp), Credit Agreement (Staruni Corp)

TEN PERCENT LIMITATION. The On each Settlement Date, the number of Put Shares then to be purchased on each Put Closing Date by the Investor Purchaser shall not exceed the number of such shares that, when aggregated with all other shares of Common Stock then owned by the Investor Purchaser beneficially or deemed beneficially owned by the InvestorPurchaser, would result in the Investor Purchaser owning more than nine and nine tenths percent (9.99%) % of all of such Common Stock as would be outstanding on such Put Closing Settlement Date, as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section 6.2(j5.3(h), in the event that the amount of Common Stock outstanding as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder is greater on a Put Closing Settlement Date than on the date upon which the Put Purchase Draw Down Notice associated with such Put Closing Settlement Date is given, the amount of Common Stock outstanding on such Put Closing Settlement Date shall govern for purposes of determining whether the InvestorPurchaser, when aggregating all purchases of Common Stock made pursuant to this Agreement and, if any, Shares, would own more than nine and nine tenths percent (9.99%) % of the Common Stock following such Put Closing Settlement Date.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (DBS Industries Inc)

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TEN PERCENT LIMITATION. The On each Closing Date, the number of Put Shares then to be purchased on each Put Closing Date by the Investor shall not exceed the number of such shares that, when aggregated with all other shares of Common Stock and Registrable Securities then owned by the Investor beneficially or deemed beneficially owned by the Investor, as determined in accordance with the definition of beneficial ownership in Rule 13d-3 promulgated under the Exchange Act, would result in the Investor owning more than nine and nine tenths percent (9.99%) 9.9% of all of such Common Stock as would be outstanding on such Put Closing Date, as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section 6.2(j)Section, in the event that the amount of Common Stock outstanding as determined in accordance with Section 16 13(d) of the Exchange Act and the regulations promulgated thereunder is greater on a Put Closing Date than on the date upon which the Put Purchase Notice associated with such Put Closing Date is given, the amount of Common Stock outstanding on such Put Closing Date shall govern for purposes of determining whether the Investor, when aggregating all purchases of Common Stock made pursuant to this Agreement and, if any, Shares, Incentive Warrant Shares would own more than nine and nine tenths percent (9.99%) 9.9% of the Common Stock following such Put Closing Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (Fibercore Inc)

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