Common use of Net Operating Loss Clause in Contracts

Net Operating Loss. Prior to the third anniversary of the Closing Date, the Company will not (i) amend, or propose an amendment to, the Restatement to amend the restrictions on transfer with respect to the shares of the Company's capital stock, or waive the operation of such restrictions, or (ii) approve any acquisition, sale, issuance, assignment or transfer of its capital stock or options or warrants to purchase shares of its capital stock, unless, in any such event, the Board of Directors determines, after discussion and due deliberation with the assistance, as necessary or appropriate, of legal, financial, tax, accounting and other advisors, at a duly called meeting, that such event would be in the best interests of the shareholders of the Company.

Net Operating Loss. Prior to the third anniversary of the Closing Date, the Company will not (i) amend, or propose an amendment to, the Restatement to amend the restrictions on transfer with respect to the shares of the Company's capital stock, or waive the operation of such restrictions, or (ii) approve any acquisition, sale, issuance, assignment or transfer of its capital stock or options or warrants to purchase shares of its capital stock, unless, in any such event, the Board of Directors determines, after discussion and due deliberation deliberation, with the assistance, as necessary or appropriate, of legal, financial, tax, accounting and other advisors, at a duly called meeting, that such event would be in the best interests of the shareholders of the Company.