Certain Trading Restrictions. Each Purchaser agrees that from the period commencing on the Closing Date and ending on the Expiration Date (as defined in the Adjustable Warrants) it will not, during the 35 Trading Days preceding each Vesting Date (as defined in the Adjustable Warrants), enter into any Short Sales (as defined herein). For purposes of this Section 3.16, a "Short Sale" by a Purchaser shall mean a sale of Common Stock by such Purchaser that is marked as a short sale and that is made at a time when there is no equivalent offsetting long position in Common Stock held by the Purchaser. For purposes of determining whether there is an equivalent offsetting long position in Common Stock held by a Purchaser, Warrant Shares that have not yet been issued on exercise of the Warrants held by a Purchaser shall be deemed to be held long by such Purchaser.
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Sources: Securities Purchase Agreement (Cel Sci Corp), Securities Purchase Agreement (Cel Sci Corp)
Certain Trading Restrictions. Each Purchaser agrees that from the period commencing on the Closing Date and ending on the Expiration Date (as defined in the Adjustable Warrants) it will not, during the 35 Trading Days preceding each Vesting Date (as defined in the Adjustable Warrants), enter into any Short Sales (as defined herein). For purposes of this Section 3.16, a "Short Sale" by a Purchaser shall mean a sale of Common Stock by such Purchaser that is marked as a short sale and that is made at a time when there is no equivalent offsetting long position in Common Stock held by the Purchaser. For purposes of determining whether there is an equivalent offsetting long position in Common Stock held by a Purchaser, Warrant Shares that have not yet been issued on exercise of the Warrants held by a Purchaser shall be deemed to be held long by such Purchaser.. ARTICLE IV
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