Common use of Warrants held by LC Clause in Contracts

Warrants held by LC. Provided that a Release Event (as defined below) shall not have occurred, the parties hereto agree that, if LC owns, or would own upon exercise of this Warrant and all other Warrants held by LC, more than 20% of the voting Common Stock of the Company and LC votes its Warrant Shares in any corporate matter of the Company, LC will vote such Warrant Shares in the same proportion as all other Common Stock voted with respect to such matter excluding any other Common Stock voted by LC (the foregoing, the “Voting Restriction”).

Appears in 4 contracts

Samples: Purchase Agreement (Particle Drilling Technologies Inc/Nv), Purchase Agreement (Particle Drilling Technologies Inc/Nv), Common Stock Purchase Warrant (Particle Drilling Technologies Inc/Nv)

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