Common use of Conversion Shares Clause in Contracts

Conversion Shares. The Company has authorized and will reserve and covenants to continue to reserve, free of preemptive rights and other similar contractual rights of stockholders, (i) such number of shares of Common Stock equal to one hundred twenty percent (120%) of the number of shares of Common Stock as shall from time to time be sufficient to effect an Optional Conversion (as defined in the Notes) of all of the Notes, and (ii) as of the date hereof, such number of shares of Common Stock equal to one hundred twenty percent (120%) of the number of shares of Common Stock as shall from time to time be sufficient to effect the exercise of the Warrants then outstanding. Any shares of Common Stock issuable upon a conversion of the Note (and such shares when issued) are herein referred to as the “Conversion Shares.” The Notes, the Warrants, the Conversion Shares and the Warrant Shares are sometimes collectively referred to as the “Securities.”

Conversion Shares. The Company has authorized and will reserve and covenants to continue to reserve, free of preemptive rights and other similar contractual rights of stockholders, (i) such number of shares of Common Stock equal to one hundred twenty percent (120%) of the number of shares of Common Stock as shall from time to time be sufficient to effect an Optional Conversion (as defined in the Notes) of all of the Notes, and (ii) as of the date hereof, such number of shares of Common Stock equal to one hundred twenty percent (120%) of the number of shares of Common Stock as shall from time to time be sufficient to effect the exercise of the Warrants then outstanding. Any shares of Common Stock issuable upon a conversion of the Note (and such shares when issued) are herein referred to as the ““ Conversion SharesShares .” The Notes, the Warrants, the Conversion Shares and the Warrant Shares are sometimes collectively referred to as the “Securities.“ Securities ..”

Conversion Shares. The Company has authorized and will reserve and covenants to continue to reserve, free of preemptive rights and other similar contractual rights of stockholders, (i) such number of shares of Common Stock equal to one hundred twenty percent (120%) of the number of shares of Common Stock as shall from time to time be sufficient to effect an Optional Conversion (as defined in the Notes) conversion of all of the Notes, and (ii) as of the date hereof, such number of shares of Common Stock equal to one hundred twenty percent (120%) of the number of shares of Common Stock as shall from time to time be sufficient to effect the exercise of the Warrants then outstanding. Any shares of Common Stock issuable upon a conversion of the Note and exercise of the Warrants (and such shares when issued) are herein referred to as the “Conversion Shares.” and the Warrant Shares, respectively. The Notes, the Warrants, the Conversion Shares and the Warrant Shares are sometimes collectively referred to as the “Securities.”