Common use of Covenant to Reserve Shares for Issuance on Exercise Clause in Contracts

Covenant to Reserve Shares for Issuance on Exercise. The Company covenants that it will at all times reserve and keep available out of its authorized but unissued Warrant Securities, solely for the purpose of issue upon exercise of Warrants, the full number of shares of Warrant Stock, if any, then issuable if all outstanding Warrants then exercisable were to be exercised. The Company covenants that all shares of Common Stock which shall be so issuable shall be duly and validly issued and fully paid and nonassessable. The Company hereby authorizes and directs its current and future transfer agents for the Common Stock and for any shares of the Company's capital stock issuable upon the exercise of any of the Warrants at all times to reserve such number of authorized shares as shall be requisite for such purpose. The Company will supply such transfer agents with duly executed stock certificates for such purposes and will provide or otherwise make available any cash which may be payable as provided in this Article II.

Covenant to Reserve Shares for Issuance on Exercise. The Company covenants that it will at all times reserve and keep available out of its authorized but unissued Warrant SecuritiesCommon Stock, solely for the purpose of issue upon exercise of Warrants, the full number of shares of Warrant StockShares, if any, then issuable if all outstanding Warrants then exercisable were to be exercised. The Company covenants that all shares Warrant Shares, upon issuance following exercise of Common Stock which shall be so issuable the Warrants in respect thereof in accordance with this Agreement, shall be duly and validly issued and fully paid and nonassessablenonassessable shares of Common Stock. The Company hereby authorizes and directs its current and future transfer agents for the Common Stock and for any shares of the Company's (or any successor entity's) capital stock issuable upon the exercise of any of the Warrants at all times to reserve such number of authorized shares as shall be requisite for such purpose. The Company will supply such transfer agents with duly executed stock certificates for such purposes and will provide or otherwise make available any cash which may be payable as provided in this Article II.