Common use of Ownership Limitation; Commitment Amount Clause in Contracts

Ownership Limitation; Commitment Amount. At the request of the Company, the Investor shall inform the Company in writing of the number of Common Shares the Investor and each of its Affiliates then beneficially owns. Notwithstanding anything to the contrary contained in this Agreement, the Investor shall not be obligated to purchase or acquire, and shall not purchase or acquire, any Common Shares under this Agreement which, when aggregated with all other Common Shares beneficially owned by the Investor and its Affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor and its Affiliates (on an aggregated basis) of a number of Common Shares exceeding 4.99% of the then outstanding voting power or number of Common Shares (the “Ownership Limitation”). Upon the request of the Investor, the Company shall promptly (but no later than the next Business Day on which the transfer agent for the Common Shares is open for business) confirm orally or in writing to the Investor the number of Common Shares then outstanding. In connection with each Advance Notice delivered by the Company, any portion of an Advance that would (i) cause the Investor to exceed the Ownership Limitation or (ii) cause the aggregate number of Advance Shares issued and sold to the Investor hereunder to exceed the Commitment Amount shall automatically be withdrawn with no further action required by the Company, and such Advance Notice shall be deemed automatically modified to reduce the number of Advance Shares requested by an amount equal to such withdrawn portion; provided that in the event of any such automatic withdrawal and automatic modification, the Investor will promptly notify the Company of such event.

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Medicinova Inc)

Ownership Limitation; Commitment Amount. At the request of the Company, the Investor shall inform the Company in writing of the number of Common Ordinary Shares the Investor and each of its Affiliates then beneficially owns. Notwithstanding anything to the contrary contained in this Agreement, the Investor shall not be obligated to purchase or acquire, and shall not purchase or acquire, and the Company shall not issue or sell to the Investor, any Common Ordinary Shares under this Agreement which, when aggregated with all other Common Ordinary Shares beneficially owned by the Investor and its Affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor and its Affiliates (on an aggregated basis) of a number of Common Shares exceeding to exceed 4.99% of the then outstanding voting power or number of Common Ordinary Shares (the “Ownership Limitation”). Upon the written request of the Investor, the Company shall promptly (but no later than the next Business Day business day on which the transfer agent for the Common Ordinary Shares is open for business) confirm orally or in writing to the Investor the number of Common Ordinary Shares then outstanding. In connection with each Advance Notice delivered by the Company, any portion of an the Advance that would (i) cause the Investor to exceed the Ownership Limitation or (ii) cause the aggregate number of Advance Shares issued and sold to the Investor hereunder to exceed the Commitment Amount shall automatically be withdrawn with no further action required by the Company, and such Advance Notice shall be deemed automatically modified to reduce the number of Advance Shares requested by an amount equal to such withdrawn portion; provided that in the event of any such automatic withdrawal and automatic modification, the Investor will promptly notify the Company of such event.

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Wearable Devices Ltd.)

Ownership Limitation; Commitment Amount. At the request of the Company, the Investor shall will inform the Company in writing of the number amount of Common Shares shares the Investor and each of its Affiliates then currently beneficially owns. Notwithstanding anything to the contrary contained in this Agreement, the Investor shall not be obligated to purchase or acquire, and shall not purchase or acquire, any Common Shares under this Agreement which, when aggregated with all other Common Shares beneficially owned by the Investor and its Affiliates affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor and its Affiliates affiliates (on an aggregated basis) of a number of Common Shares exceeding to exceed 4.99% of the then outstanding voting power or number of Common Shares (the “Ownership Limitation”). Upon the written request of the Investor, the Company shall promptly (but no later than the next Business Day business day on which the transfer agent for the Common Shares is open for business) confirm orally or in writing to the Investor the number of Common Shares then outstanding. In connection with each Advance Notice or Additional Advance Notice delivered by the Company, any portion of an the number of Advance Shares or Additional Advance Shares that would (i) cause the Investor to exceed the Ownership Limitation or (ii) cause the aggregate number of Advance Shares issued and sold to the Investor hereunder to exceed the Commitment Amount shall automatically be withdrawn with no further action required by the Company, and such Advance Notice or Additional Advance Notice shall be deemed automatically modified to reduce the number of Advance Shares or Additional Advance Shares requested by an amount equal to such withdrawn portion; provided that in the event of any such automatic withdrawal and automatic modification, the Investor will promptly notify the Company of such event.

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Scilex Holding Co)

Ownership Limitation; Commitment Amount. At the request of the Company, the Investor shall will promptly inform (but no later than the next Business Day on which the transfer agent for the Common Shares is open for business) the Company in writing of the number of Common Shares the Investor and each of its Affiliates then currently beneficially owns. At the request of the Investor, the Company shall promptly (but no later than the next Business Day on which the transfer agent for the Common Shares is open for business) confirm orally or in writing to the Investor the number of Common Shares then outstanding. Notwithstanding anything to the contrary contained in this Agreement, the Investor shall not be obligated to purchase or acquire, and shall not purchase or acquire, any Common Shares under this Agreement which, when aggregated with all other Common Shares beneficially owned by the Investor and its Affiliates affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor and its Affiliates affiliates (on an aggregated basis) of a number of Common Shares exceeding 4.999.99% of the then then-outstanding voting power or number of Common Shares (the “Ownership Limitation”). Upon the request of the Investor, the Company shall promptly (but no later than the next Business Day on which the transfer agent for the Common Shares is open for business) confirm orally or in writing to the Investor the number of Common Shares then outstanding. In connection with each Advance Notice delivered by the CompanyNotice, any portion of an Advance that would (i) cause the Investor to exceed the Ownership Limitation or (ii) cause the aggregate number of Advance Shares issued and sold to the Investor hereunder to exceed the Commitment Amount shall automatically be withdrawn with no further action required by the Company, and such Advance Notice shall be deemed automatically modified to reduce the number of Advance Shares requested by an amount equal to such withdrawn portion; provided that in the event of any such automatic withdrawal and automatic modification, the Investor will promptly notify the Company of such event.

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Soluna Holdings, Inc)

Ownership Limitation; Commitment Amount. At the request of the Company, the Investor shall inform the Company in writing of the number of Common Shares the Investor and each of its Affiliates then beneficially owns. Notwithstanding anything to the contrary contained in this Agreement, the Investor shall not be obligated obligated, but can choose to purchase to subscribe for or acquire, and shall not purchase or acquire, acquire any Common Ordinary Shares under this Agreement which, when aggregated with all other Common Ordinary Shares beneficially owned by the Investor and its Affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder)acquired under this Agreement, would result in the total beneficial ownership by the Investor and its Affiliates (on an aggregated basis) of a number of Common Shares exceeding to exceed 4.99% of the then outstanding voting power or number of Common Ordinary Shares issued in the capital of the Company (the “Ownership Limitation”). For the avoidance of doubt, only Ordinary Shares subscribed for or acquired by the Investor (or its Affiliates) under this Agreement shall count towards the Ownership Limitation. At the request of the Company, the Investor shall inform the Company of the aggregate number of Ordinary Shares beneficially owned by the Investor and its Affiliates. Upon the written request of the Investor, the Company shall promptly (but no later than the next Business Day business day on which the transfer agent for the Common Ordinary Shares is open for business) confirm orally or in writing to the Investor the number of Common Ordinary Shares then outstandingissued in the capital of the Company. In connection with each Advance Notice delivered by the Company, any portion of an the Advance that would (i) cause the Investor to exceed the Ownership Limitation or (ii) cause the aggregate number of Advance Shares allotted and issued and sold to the Investor hereunder to exceed the Commitment Amount shall automatically be withdrawn with no further action required by the Company, and such Advance Notice shall be deemed automatically modified to reduce the number of Advance Shares requested by an amount equal to such withdrawn portion; provided that in the event of any such automatic withdrawal and automatic modification, the Investor will promptly notify the Company of such event.

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (K Wave Media Ltd.)