Common use of Covenants to Reserve Shares for Issuance on Conversion of Securities Clause in Contracts

Covenants to Reserve Shares for Issuance on Conversion of Securities. The Company covenants that at all times it will reserve and keep available out of each class of its authorized Common Shares, free from preemptive rights, solely for the purpose of issue upon conversion of Securities of any series as herein provided, such number of Common Shares as shall then be issuable upon the conversion of all Outstanding Securities of such series. The Company covenants that all Common Shares which shall be so issuable shall, when issued or delivered, be duly and validly issued Common Shares into which Securities of such series are convertible, and shall be fully paid and nonassessable, free of all liens and charges and not subject to preemptive rights and that, upon conversion, the appropriate capital stock accounts of the Company will be duly credited.

Covenants to Reserve Shares for Issuance on Conversion of Securities. The Company covenants that at all times it will reserve and keep available out of each class of its authorized Class A Common SharesStock, free from preemptive rights, solely for the purpose of issue upon conversion of Securities of any series as herein provided, such number of shares of Class A Common Shares Stock as shall then be issuable upon the conversion of all Outstanding Securities of such seriesSecurities. The Company covenants that all shares of Class A Common Shares Stock which shall be so issuable shall, when issued or delivered, be duly and validly issued shares of Class A Common Shares Stock into which Securities of such series are convertible, and shall be fully paid and nonassessable, free of all liens and charges and not subject to preemptive rights and that, upon conversion, the appropriate capital stock accounts of the Company will be duly credited.

Covenants to Reserve Shares for Issuance on Conversion of Securities. The Company covenants that at all times it will reserve and keep available out of each class of its authorized Common SharesStock, free from preemptive rights, solely for the purpose of issue upon conversion conversation of Securities of any series as herein provided, such number of shares of Common Shares Stock as shall then be issuable upon the conversion of all Outstanding Securities of such series. The Company covenants that all shares of Common Shares Stock which shall be so issuable shall, when issued or delivered, be duly and validly issued shares of Common Shares Stock into which Securities of such series are convertible, and shall be fully paid and nonassessable, free of all liens and charges and not subject to preemptive rights and that, upon conversion, the appropriate capital stock accounts of the Company will be duly credited.

Covenants to Reserve Shares for Issuance on Conversion of Securities. The Company covenants that at all times it will reserve and keep available out of each class of its authorized Common SharesStock, free from preemptive rights, solely for the purpose of issue upon conversion of Securities of any series as herein provided, such number of shares of Common Shares Stock as shall then be issuable upon the conversion of all Outstanding Securities of such series. The Company covenants that all shares of Common Shares Stock which shall be so issuable shall, when issued or delivered, be duly and validly issued shares of Common Shares Stock into which Securities of such series are convertible, and shall be fully paid and nonassessable, free of all liens and charges and not subject to preemptive rights and that, upon conversion, the appropriate capital stock accounts of the Company will be duly credited.