Common use of Leakage Clause in Contracts

Leakage. Seller agrees, in the event and to the extent it decides to sell Series G Conversion Shares or Closing Common Shares, that it shall not, in the absence of Buyer’s prior written consent, sell Series G Conversion Shares or Closing Common Shares in public market transactions at a monthly rate that exceeds the greater of (i) $50,000 worth of Common Stock, (ii) 50,000 shares of Common Stock, or (iii) 0.15% of the average monthly trading volume for Buyer’s Common Stock for the three months prior to sale.

Appears in 2 contracts

Sources: Membership Interest Purchase Agreement, Membership Interest Purchase Agreement (Attis Industries Inc.)

Leakage. Seller agrees, in the event and to the extent it decides to sell Series G Conversion Shares or Closing Common Shares, that it shall not, in the absence of Buyer’s prior written consent, sell Series G Conversion Shares or Closing Common Shares in public market transactions at a monthly rate that exceeds the greater of (i) $50,000 500,000 worth of Common Stock, (ii) 50,000 500,000 shares of Common Stock, or (iii) 0.152.5% of the average monthly trading volume for Buyer’s Common Stock for the three months prior to sale.

Appears in 1 contract

Sources: Securities Purchase Agreement (Attis Industries Inc.)