Common use of Twenty Percent Limitation Clause in Contracts

Twenty Percent Limitation. Unless the Company obtains the requisite approval of its shareholders in accordance with the corporate laws of Arizona and the applicable rules of the Principal Market, no more than 19.9% of the Outstanding shares of Common Stock may be issued and sold pursuant to Sales, the Warrants and upon conversion of the Preferred Stock; PROVIDED, that with respect to the issuance of more than 19.9% of the Outstanding shares of Common Stock pursuant to the Warrants, the Investor has the right to require the Company to seek such shareholder approval and upon the written request of the Investor the Company shall as soon as practicable after such request prepare and file with the SEC a proxy statement to be distributed to shareholders of the Company for the purpose of soliciting proxies for use at an annual or special meeting of shareholders of the Company at which such shareholder approval is sought, and in which proxy statement the Company will recommend to its shareholders the foregoing approval.

Twenty Percent Limitation. Unless the Company obtains the requisite approval of its shareholders in accordance with the corporate laws of Arizona Nevada and the applicable rules of the Principal Market, no more than 19.9% of the Outstanding shares of Common Stock may be issued and sold pursuant to Sales, the Warrants and upon conversion of the Preferred StockConvertible Note; PROVIDEDprovided, that with respect to the issuance of more than 19.9% of the Outstanding shares of Common Stock pursuant to the Warrants, the Investor has the right to require the Company to seek such shareholder approval and upon the written request of the Investor the Company shall as soon as practicable after such request prepare and file with the SEC a proxy statement to be distributed to shareholders of the Company for the purpose of soliciting proxies for use at an annual or special meeting of shareholders of the Company at which such shareholder approval is sought, and in which proxy statement the Company will recommend to its shareholders the foregoing approval.

Twenty Percent Limitation. Unless the Company obtains the ------------------------- requisite approval of its shareholders in accordance with the corporate laws of Arizona Illinois and the applicable rules of the Principal Market, no more than 19.9% of the Outstanding shares of Common Stock may be issued and sold pursuant to Subsequent Sales, the Warrants and upon conversion of the Preferred StockConvertible Notes; PROVIDEDprovided, that with respect to the issuance of more than 19.9% of the -------- Outstanding shares of Common Stock pursuant to the Warrants, the Investor has the right to require the Company to seek such shareholder approval and upon the written request of the Investor the Company shall as soon as practicable after such request prepare and file with the SEC a proxy statement to be distributed to shareholders of the Company for the purpose of soliciting proxies for use at an annual or special meeting of shareholders of the Company at which such shareholder approval is sought, and in which proxy statement the Company will recommend to its shareholders the foregoing approval.

Twenty Percent Limitation. Unless the Company obtains the requisite approval of its shareholders in accordance with the corporate laws of Arizona Delaware and the applicable rules of the Principal Market, no more than 19.9% of the Outstanding shares of Common Stock may be issued and sold pursuant to Sales, Sales and the Warrants and upon conversion of the Preferred StockWarrants; PROVIDEDprovided, that with respect to the issuance of more than 19.9% of the Outstanding shares of Common Stock pursuant to the Warrants, the Investor has the right to require the Company to seek such shareholder approval and upon the written request of the Investor the Company shall as soon as practicable after such request prepare and file with the SEC a proxy statement to be distributed to shareholders of the Company for the purpose of soliciting proxies for use at an annual or special meeting of shareholders of the Company at which such shareholder approval is sought, and in which proxy statement the Company will recommend to its shareholders the foregoing approval.