Common use of Understanding Among Purchasers Clause in Contracts

Understanding Among Purchasers. The decision of each Purchaser to purchase Shares pursuant to this Agreement has been made by such Purchaser independently of any other Purchaser and independently of any statements or opinions as to the Condition of the Company which may have been made or given by any other Purchaser or by any agent or employee of any other Purchaser. Each Purchaser acknowledges that no other Purchaser has acted as agent for such Purchaser in connection with making its investment hereunder and that no other Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment hereunder. Each Purchaser acknowledges that the Company intends to issue up to $80,000,000 in shares of Series C Preferred Stock (or Series C-1 Preferred Stock) in connection with this private placement, including its ongoing licensing efforts. Each Purchaser waives any pre-emptive rights that it may have to participate in the sale of such additional shares of Series C Preferred Stock (or Series C-1 Preferred Stock) pursuant to the Stockholders Agreement or otherwise, provided that the Company sells such shares of Series C Preferred Stock (or Series C-1 Preferred Stock) in connection with its licensing efforts to parties who are not affiliated with the Purchasers or other stockholders of the Company or, in the case of Xxxx X. Xxxxxxx, an existing stockholder of the Company, to Xx. Xxxxxxx in an amount up to approximately $160,000 of shares of Series C Preferred Stock, in each case on substantially the same terms as are included herein.

Understanding Among Purchasers. The decision of each Purchaser to purchase Shares pursuant to this Agreement has been made by such Purchaser independently of any other Purchaser and independently of any statements or opinions as to the Condition of the Company which may have been made or given by any other Purchaser or by any agent or employee of any other Purchaser. Each Purchaser acknowledges that no other Purchaser has acted as agent for such Purchaser in connection with making its investment hereunder and that no other Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment hereunder. Each Purchaser acknowledges that the Company intends to issue up to $80,000,000 in shares of Series C Preferred Stock (or Series C-1 Preferred Stock) in connection with this private placement, including its ongoing licensing efforts. Each Purchaser waives any pre-emptive rights that it may have to participate in the sale of such additional shares of Series C Preferred Stock (or Series C-1 Preferred Stock) pursuant to the Stockholders Agreement or otherwise, provided that the Company sells such shares of Series C Preferred Stock (or Series C-1 Preferred Stock) in connection with its licensing efforts to parties who are not affiliated with the Purchasers or other stockholders shareholders of the Company or, in the case of Xxxx X. Xxxxxxx, an existing stockholder shareholder of the Company, to Xx. Xxxxxxx in an amount up to approximately $160,000 of shares of Series C Preferred Stock, in each case on substantially the same terms as are included herein.