Common use of Issuance of Convertible Preferred Stock Clause in Contracts

Issuance of Convertible Preferred Stock. (a) At the Closing, the Company shall issue and deliver to the Investor a certificate or certificates representing the sum of $250,000,000 plus an amount equal to the accrued and unpaid interest as of the Closing Date on the BOSC Debentures (the "Investment Amount"), aggregate share value of Convertible ----------------- Preferred Stock against receipt by the Company of: (i) a wire transfer of immediately available funds in the amount of $150,000,000 to an account designated by the Company at least two business days prior to the Closing; and (ii) all of the certificates representing all of the outstanding BOSC Debentures. (b) The Convertible Preferred Stock certificates shall be registered in the names designated by the Investor to the Company at least two business days prior to the Closing. (c) The Company has authorized and reserved and covenants to continue to reserve, free of preemptive rights and other preferential rights, a sufficient number of shares of Common Stock to satisfy the rights of conversion of the holders of the Convertible Preferred Stock. Any shares of Common Stock issuable upon conversion of the Convertible Preferred Stock, and such shares of Common Stock when issued, are herein referred to as the "Conversion Shares." ----------------- (d) The number of shares of Convertible Preferred Stock to be issued pursuant to the terms and conditions of this Agreement shall be determined by dividing the number representing the Investment Amount by 1,000.

Issuance of Convertible Preferred Stock. (a) At the Closing, the Company shall issue and deliver to the Investor a certificate or certificates representing the sum of $250,000,000 plus an amount equal to the accrued and unpaid interest as of the Closing Date on the BOSC Debentures (the "Investment Amount"), aggregate share value of Convertible ----------------- Preferred Stock against receipt by the Company of: (i) a wire transfer of immediately available funds in the amount of $150,000,000 to an account designated by the Company at least two business days prior to the Closing; and (ii) all of the certificates representing all of the outstanding BOSC Debentures. (b) The Convertible Preferred Stock certificates shall be registered in the names designated by the Investor to the Company at least two business days prior to the Closing. (c) The Company has authorized and reserved and covenants to continue to reserve, free of preemptive rights and other preferential rights, a sufficient number of shares of Common Stock to satisfy the rights of conversion of the holders of the Convertible Preferred Stock. Any shares of Common Stock issuable upon conversion of the Convertible Preferred Stock, and such shares of Common Stock when issued, are herein referred to as the "Conversion Shares." -----------------" (d) The number of shares of Convertible Preferred Stock to be issued pursuant to the terms and conditions of this Agreement shall be determined by dividing the number representing the Investment Amount by 1,000.