Common use of Reservation of CPE Common Stock Clause in Contracts

Reservation of CPE Common Stock. CPE shall at all times reserve and keep available out of its authorized but unissued CPE Common Stock, solely for the purpose of issuance upon redemption of Common Membership Units, such number of CPE Common Stock that may be issuable upon the exercise by CPE of the CPE Assumption Right, assuming for purposes of this Section 9.3, that CPE would elect to exercise its CPE Assumption Right and chose the Share Settlement as its intended settlement method to pay; provided, that nothing contained herein shall be construed to preclude CPE from paying the Share Settlement by delivery of CPE Common Stock which is held in the treasury of CPE. CPE covenants that all CPE Common Stock that shall be issued upon (i) a Share Settlement or (ii) a Share/Cash Settlement will, upon issue, be validly issued, fully paid and non-assessable.

Reservation of CPE Common Stock. CPE shall at all times reserve and keep available out of its authorized but unissued CPE Common Stock, solely for the purpose of issuance upon redemption of Common Membership Units, such number of CPE Common Stock that may be issuable upon the exercise by CPE of the CPE Assumption Right, assuming for purposes of this Section 9.310.2, that CPE would elect to exercise its CPE Assumption Right and chose the Share Settlement as its intended settlement method to pay; provided, that nothing contained herein shall be construed to preclude CPE from paying the Share Settlement by delivery of CPE Common Stock which is held in the treasury of CPE. CPE covenants that all CPE Common Stock that shall be issued upon (i) a Share Settlement or (ii) a Share/Cash Settlement will, upon issue, be validly issued, fully paid and non-assessable.