Common use of Reservation of Authorized Shares Clause in Contracts

Reservation of Authorized Shares. The Company shall initially reserve out of its authorized and unissued Common Stock a number of shares of Common Stock for each of the Notes equal to 100% of the Conversion Rate with respect to the Principal of each such Note as of the Issuance Date. Thereafter, the Company, so long as any of the Notes are outstanding, 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 the Notes, 100% of the number of shares of Common Stock as shall from time to time be necessary to effect the conversion of all of the Notes then outstanding (the “Required Reserve Amount”).

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 each of the Notes this Note equal to 100150% of the Conversion Rate with respect to the Principal Conversion Amount of each such this Note as of the Issuance Date. Thereafter, the Company, so So long as any portion of the Notes are 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 the Notesthis Note, 100150% 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 (the “Required Reserve Amount”)outstanding.