Common use of Reservation of Equity Securities Clause in Contracts

Reservation of Equity Securities. The Company covenants that it will at all times reserve and keep available, free from any pre-emptive rights, out of its authorized and unissued equity securities, solely for the purpose of issue on exercise of the Warrants, the number of shares of equity securities of the Company as will then be issuable on the exercise of all outstanding Warrants ("Equity Securities"). The Company covenants that all Equity Securities which will be so issuable will, on the issue, be duly authorized, validly issued, fully paid and non-assessable.

Reservation of Equity Securities. 9.1. The Company covenants that it will at all times reserve and keep available, free from any pre-emptive rights, out of its authorized and unissued equity securities, solely for the purpose of issue on upon exercise of the Warrants, the such number of shares of equity securities of the Company as will then be issuable on upon the exercise of all outstanding Warrants ("Equity Securities"). The Company covenants that all Equity Securities which will be so issuable will, on the upon such issue, be duly authorized, validly issued, fully paid and non-assessable.