Common use of Limitations on Exercises Clause in Contracts

Limitations on Exercises. Notwithstanding any other provision, at no time may (x) Holder deliver an Exercise Notice or (y) the Company issue shares of Common Stock pursuant to this Warrant if the number of shares of Common Stock to be so issued (when aggregated with all other shares of Common Stock that have or may be issued upon conversion or exercise or otherwise in connection with the Preferred Stock or the Warrants issued pursuant to the Securities Purchase Agreement) if such issuance would result in the issuance of more than 19.999% of the amount of Common Stock of the Company issued and outstanding on the Issuance Date, unless (i) the Company's stockholders shall have approved the issuance of shares of Common Stock in excess of 20% of the amount of Common Stock of the Company issued and outstanding on the Issuance Date, or (ii) Nasdaq has provided a waiver of Listing Rule 5635(d).