Existing Alloy Convertible Instruments Clause Samples

Existing Alloy Convertible Instruments. Schedule 3 hereto lists all the convertible debentures, warrants, options (not including, however, the Alloy Options, which are to be treated as set forth in Section 5.2) and other instruments of Alloy that are outstanding on the date hereof and which, following the Spinoff, may be convertible into or exchangeable for a combination of Alloy Common Stock and ▇▇▇▇▇*s Common Stock (the “Convertible Securities”). ▇▇▇▇▇*s hereby covenants and agrees that it shall, as soon as practicable, and in any event within 10 business days of receipt of notice from Alloy that one or more of such Convertible Securities has been converted or exercised, as applicable, issue for and on behalf of Alloy such number of shares of ▇▇▇▇▇*s Common Stock as may be required to be issued pursuant to the terms of such Convertible Securities. ▇▇▇▇▇*s hereby covenants that each of such shares of ▇▇▇▇▇*s Common Stock shall be, when issued, duly authorized, fully paid and non-assessable and issued without conflict with any applicable pre-emptive or similar rights. Alloy hereby covenants and agrees that if and to the extent it receives any payment in respect of any such Convertible Securities, it shall, within such 5 business day period, deliver to ▇▇▇▇▇*s one-half of such payment.