Common use of Note and Warrant Shares Clause in Contracts

Note and Warrant Shares. The Company has authorized and has reserved and covenants to continue to reserve, free of preemptive rights and other similar contractual rights of stockholders, a number of shares of Common Stock equal to one hundred ten percent (110%) of the number of shares of Common Stock as shall from time to time be sufficient to effect conversion of all of the Notes and exercise of the Warrants then outstanding. Any shares of Common Stock issuable upon conversion of the Notes and exercise of the Warrants (and such shares when issued) are herein referred to as the “Note Shares” and the “Warrant Shares”, respectively. The Note Shares and the Warrant Shares are sometimes collectively referred to as the “Shares” and together with the Notes and Warrants, the “Securities”.

Note and Warrant Shares. The Company has authorized and has initially reserved and covenants to continue to reserve, free of preemptive rights and other similar contractual rights of stockholders, a number of its authorized but unissued shares of Common Stock at least equal to one hundred ten fifty percent (110150%) of the aggregate number of shares of Common Stock as shall from time to time be sufficient to effect the conversion of all of the Notes in full and exercise of the Warrants then outstandingin full. Any shares of Common Stock issuable upon conversion of the Notes and upon exercise of the Warrants (and such shares when issued) are herein referred to as the “Note Shares” and the “Warrant Conversion Shares”, respectively. The Note Shares Notes, the Warrants and the Warrant Conversion Shares are sometimes collectively referred to herein as the “Shares” and together with the Notes and Warrants, the “Securities”.

Note and Warrant Shares. The Company has authorized and has reserved and covenants to continue to reserve, free of preemptive rights and other similar contractual rights of stockholders, a number of shares of Common Stock equal to one hundred ten percent (110%) of the number of shares of Common Stock as shall from time to time be sufficient to effect conversion of all of the Notes and exercise of the Warrants then outstanding. Any shares of Common Stock issuable upon conversion of the Notes and exercise of the Warrants (and such shares when issued) are herein referred to as the “Note Shares” and the “Warrant Shares”, respectively. The Note Shares and the Warrant Shares are sometimes collectively referred to as the “Shares” and together with the Notes and Warrants, the “"Securities”".