Common use of Acknowledgment Regarding Securities Clause in Contracts

Acknowledgment Regarding Securities. The number of Conversion Shares issuable upon conversion of the Preferred Stock may increase in certain circumstances. The Company’s directors and executive officers have studied and fully understand the nature of the Securities being sold hereunder. The Company acknowledges that its obligation to issue Conversion Shares upon conversion of the Preferred Stock in accordance with the terms thereof is absolute and unconditional, regardless of the dilution that such issuance may have on the ownership interests of other stockholders and the availability of remedies provided for in any of the Transaction Documents relating to a failure or refusal to issue Conversion Shares. Taking the foregoing into account, the Company’s Board of Directors has determined in its good faith business judgment that the issuance of the Preferred Stock hereunder and the consummation of the other transactions contemplated hereby are in the best interests of the Company and its stockholders.

Acknowledgment Regarding Securities. The number of Conversion Shares issuable upon conversion of the Preferred Stock Notes may increase in certain circumstances. The Company’s 's directors and executive officers have studied and fully understand the nature of the Securities being sold hereunder. The Company acknowledges that its obligation to issue Conversion Shares upon conversion of the Preferred Stock Notes in accordance with the terms thereof is absolute and unconditional, regardless of the dilution that such issuance may have on the ownership interests of other stockholders and the availability of remedies provided for in any of the Transaction Documents relating to a failure or refusal to issue Conversion Shares. Taking the foregoing into account, the Company’s 's Board of Directors has determined in its good faith business judgment that the issuance of the Preferred Stock Units hereunder and the consummation of the other transactions contemplated hereby are in the best interests of the Company and its stockholders.

Acknowledgment Regarding Securities. The number of Conversion Shares issuable upon conversion of the Preferred Stock Shares may increase in certain circumstances. The Company’s 's directors and executive officers have studied and fully understand the nature of the Securities being sold hereunder. The Company acknowledges that its obligation to issue Conversion Shares upon conversion of the Preferred Stock Shares in accordance with the terms thereof is absolute and unconditional, regardless of the dilution that such issuance may have on the ownership interests of other stockholders and the availability of remedies provided for in any of the Transaction Documents relating to a failure or refusal to issue Conversion Shares. Taking the foregoing into account, the Company’s 's Board of Directors has determined in its good faith business judgment that the issuance of the Preferred Stock Shares hereunder and the consummation of the other transactions contemplated hereby are in the best interests of the Company and its stockholders.

Acknowledgment Regarding Securities. The number of Conversion Shares issuable upon conversion of the Preferred Stock Debentures may increase in certain circumstances. The Company’s 's directors and executive officers have studied and fully understand the nature of the Securities being sold hereunder. The Company acknowledges that its obligation to issue Conversion Shares upon conversion of the Preferred Stock Debentures in accordance with the terms thereof is absolute and unconditional, regardless of the dilution that such issuance may have on the ownership interests of other stockholders and the availability of remedies provided for in any of the Transaction Documents relating to a failure or refusal to issue Conversion Shares. Taking the foregoing into account, the Company’s Board 's board of Directors directors has determined in its good faith business judgment that the issuance of the Preferred Stock Debentures hereunder and the consummation of the other transactions contemplated hereby are in the best interests of the Company and its stockholders.