Common use of Exchange of Series F Preferred Stock Clause in Contracts

Exchange of Series F Preferred Stock. As soon as practicable following the amendment to the Charter to increase the number of authorized shares of the Company’s Serial Preferred Stock (as defined in the Charter) from 6,000,000 shares to 100,000,000 shares, the Company shall reserve for issuance 3,000,000 authorized and unissued shares of Serial Preferred Stock (as defined in the Charter) and at any time after the Termination Date and prior to the date the Investor ceases to own any shares of Series F Preferred Stock, the Investor shall have the right, in its sole discretion, by giving a notice in accordance with Section 5.6 to cause the Company to take all action necessary under all applicable laws and regulations and the Charter to exchange any of the shares of Series F Preferred Stock owned by the Investor for a new series of Serial Preferred Stock (as defined in the Charter) with the same terms as the Series F Preferred Stock (except that the liquidation preference of such new series shall be $10,000 per share, or such liquidation preference per share as shall be reasonably specified by the Investor and the aggregate liquidation preference following such exchange shall be equal to the aggregate liquidation preference of the Series F Preferred Stock prior to such exchange), in accordance with an exchange agreement substantially in the form of this Agreement.