Common use of Covenants of the Subscriber Clause in Contracts

Covenants of the Subscriber. The Subscribers, each for itself, covenant and agree with the Company that provided a Non-Registration Event (as defined in Section 10.4) has not occurred and no other liquidated damages have accrued hereunder, then until the end of the Exclusion Period [as defined in Section 8(n)], each Subscriber will not, without prior approval by the Company, sell in open market transactions on any trading day an amount of Company Shares in excess of such Subscriber's Proportionate Share (as set forth on the signature page hereto) of 12.5% of the trading volume of the Company's Common Stock for such trading day as reported by Bloomberg L.P. Each Subscriber may sell up to its Proportionate Share of 37.5% of the reported trading volume of the Company's Common Stock for such Proportionate Share percentages that accumulated and were not sold on prior trading days pursuant to the previous sentence.