Common use of Twenty Percent Limitation Clause in Contracts

Twenty Percent Limitation. Notwithstanding any other provision of this Agreement, the maximum aggregate number of Put Shares and Blackout Shares issuable to Investor under this Agreement shall not exceed the number of such shares that, when aggregated with all other shares of Registrable Securities then owned by Investor beneficially or deemed beneficially owned by Investor, would result in Investor owning more than 19.99% of all of such Common Stock as would be outstanding immediately prior to the execution and delivery of this Agreement by both parties, unless the Company has obtained all necessary approvals in accordance with the rules and requirements of the Principal Market, which the Company may or may not seek in its discretion. Failure to seek or obtain such approval(s) will not change any other term or condition of this Agreement.

Twenty Percent Limitation. Notwithstanding any other provision of this Agreement, the maximum aggregate number of Put Shares and Blackout Shares issuable to Investor under this Agreement shall not exceed the number of such shares that, when aggregated with all other shares of Registrable Securities then owned by Investor beneficially or deemed beneficially owned by Investor, would result in Investor owning more than 19.99% of all of such Common Stock as would be outstanding immediately prior to the execution and delivery of this Agreement by both parties, unless the Company has obtained all necessary approvals of its stockholders in accordance with the rules and requirements of the NASD and the Principal Market, which the Company may or may not seek in its discretion. Failure to seek or obtain such approval(s) will not change any other term or condition of this Agreement.