Prohibited Activity

Prohibited Activity. Shall mean: (i) any attempt by the Shareholder or any of its Affiliates to gain Control of the Company; (ii) any Prohibited Transaction, as hereinafter defined or (iii) any public action on the part of the Shareholder or any of its Affiliates, acting individually or in concert with other persons, which could reasonably be construed: (a) as an attempt to effect a change of Control including, but not limited to, the issuance of press releases ... or the filing of documents with the Securities And Exchange Commission or any other Federal or State governmental entity or (b) as an action contrary to the position of the then current board of directors of the Company. View More

Prohibited Activity. Means (i) entering into any agreement, understanding or arrangement relating to any equity or debt financing or any other capital raising transaction (excluding (x) the issuance of warrants to purchase up to 100,000 common shares pursuant to current rights to receive such warrants, and the issuance of stock upon exercise of such warrants and currently outstanding warrants to purchase up to 140,000 common shares, and (y) any issuances of options, warrants or other equity securities by Borrower... for the benefit of employees, consultants or other service providers as are approved by Lender in writing in advance) (a "Financing") or Acquisition Proposal, (ii) considering, or engaging in any discussions or negotiations relating to, any such Financing or Acquisition Proposal, (iii) providing any information regarding Borrower or its business or operations to any party (other than to representatives of Lender) in connection with any such Financing or Acquisition Proposal, (iv) soliciting or encouraging the submission of any such Financing or Acquisition Proposal, (v) taking any other action to knowingly facilitate the making of any proposal that constitutes, or may reasonably be expected to lead to, any such Financing or Acquisition Proposal, or (vi) permitting any of Borrower's or its Subsidiaries' directors, employees or stockholders, or any representative or affiliate or Subsidiary of Borrower or of any stockholder, to do any of the foregoing, except, in each case, for any Acquisition Proposal or Financing provided by Lender (it being acknowledged that the conversion of this Note shall not constitute such a Financing). View More

Prohibited Activity. Shall have the meaning ascribed to that term in Section 4 of these Terms and Conditions.