Common use of Issuance Limitations Clause in Contracts

Issuance Limitations. Notwithstanding anything herein to the contrary, if the Corporation has not obtained Shareholder Approval, then the Corporation may not issue, upon conversion of the Preferred Stock, a number of shares of Common Stock which, when aggregated with any shares of Common Stock issued on or after the Original Issue Date and prior to such Conversion Date in connection with any conversion of Preferred Stock issued pursuant to the Exchange Agreement, that would exceed 485,000 shares of Common Stock (subject to adjustment for forward and reverse stock splits, recapitalizations and the like) (such number of shares, the "Issuable Maximum"). Each Holder shall be entitled to a portion of the Issuable Maximum equal to the quotient obtained by dividing (x) the original Stated Value of such Holder's Preferred Stock by (y) the aggregate Stated Value of all Preferred Stock issued on the Original Issue Date to all Holders.

Issuance Limitations. Notwithstanding anything herein to the contrary, if the Corporation Company has not obtained Shareholder Approval, then the Corporation Company may not issue, upon conversion of the Preferred Stockthis Note, a number of shares of Common Stock which, when aggregated with any shares of Common Stock issued on or after the Original Issue Date and prior to such Conversion Date in connection with any the conversion of Preferred Stock any Notes issued pursuant to the Exchange Purchase Agreement, that would exceed 485,000 _______2 shares of Common Stock (subject to adjustment for forward and reverse stock splits, recapitalizations and the like) (such number of shares, the "“Issuable Maximum"”). Each Holder shall be entitled to a portion of the Issuable Maximum equal to the quotient obtained by dividing (x) the original Stated Value principal amount of such the Holder's Preferred Stock ’s Note by (y) the aggregate Stated Value original principal amount of all Preferred Stock Notes issued on the Original Issue Date to all Holders.