Common use of Reservation of Authorized Shares Clause in Contracts

Reservation of Authorized Shares. The Company shall reserve out of its authorized and unissued shares of Common Stock a number of shares of Common Stock for this Note equal to 150% of the Conversion Rate with respect to the Conversion Amount of this Note as of the Issuance Date. So long as any portion of this Note is outstanding, the Company shall take all action necessary to reserve and keep available out of its authorized and unissued Common Stock, solely for the purpose of effecting the conversion of this Note, 150% of the number of shares of Common Stock specified in this Section 4 as shall from time to time be necessary to effect the conversion of all of the Notes then outstanding.

Reservation of Authorized Shares. The Company shall initially reserve out of its authorized and unissued shares of Common Stock a number of shares of Common Stock for this Note each of the Notes equal to 150100% of the Conversion Rate with respect to the Conversion Amount Principal of this each such Note as of the Issuance Date. So Thereafter, the Company, so long as any portion of this Note is the Notes are outstanding, the Company shall take all action necessary to reserve and keep available out of its authorized and unissued Common Stock, solely for the purpose of effecting the conversion of this Notethe Notes, 150100% of the number of shares of Common Stock specified in this Section 4 as shall from time to time be necessary to effect the conversion of all of the Notes then outstandingoutstanding (the “Required Reserve Amount”).