Common use of Quarterly Statements of Available Shares Clause in Contracts

Quarterly Statements of Available Shares. The Corporation shall deliver (or cause its transfer agent to deliver) to Holder a written report notifying Holder of any occurrence which prohibits the Corporation from issuing Common Stock upon any exercise of Prepaid Warrants. The Corporation (or its transfer agent) shall also provide, within fifteen (15) days after delivery to the Corporation of a written request by any Holder, any of the following information as of the date of such request: (i) the total outstanding Prepaid Amount of all Prepaid Warrants, (ii) the total number of shares of Common Stock issued upon all exercises of all Prepaid Warrants prior to such date, (iii) the total number of shares of Common Stock which are reserved for issuance upon exercise of the Prepaid Warrants which are then outstanding, and (iv) the total number of shares of Common Stock which may thereafter be issued by the Corporation upon exercise of the Prepaid Warrants before the Corporation would exceed the Reserved Amount and the Cap Amount.

Quarterly Statements of Available Shares. The Corporation shall deliver (or cause its transfer agent to deliver) to Holder a written report notifying Holder of any occurrence which prohibits the Corporation from issuing Common Stock upon any exercise of Prepaid Warrants. The Corporation (or its transfer agent) shall also provide, within fifteen (15) days after delivery to the Corporation of a written request by any Holder, any of the following information as of the date of such request: (i) the total outstanding Prepaid Amount of all Prepaid Warrants, (ii) the total number of shares of Common Stock issued upon all exercises of all Prepaid Warrants prior to such date, (iii) the total number of shares of Common Stock which are reserved for issuance upon exercise of the Prepaid Warrants which are then outstanding, and (iv) the total number of shares of Common Stock which may thereafter be issued by the Corporation upon exercise of the Prepaid Warrants before the Corporation would exceed the Reserved Amount and the Cap Amount.