Common use of Reservation of Stock; Stock Fully Paid Clause in Contracts

Reservation of Stock; Stock Fully Paid. The Company covenants and agrees that during the term this Warrant is exercisable, the Company will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of Common Stock upon the exercise of this Warrant and, from time to time, will take all steps necessary to amend its certificate of incorporation, as necessary, to provide sufficient reserves of shares of Common Stock issuable upon exercise of the Warrant. The Company further covenants and agrees that all shares that may be issued upon the exercise of rights represented by this Warrant, all as set forth herein, will be duly authorized, validly issued, fully paid and nonassessable, free from all preemptive or any similar rights of any stockholder of the Company and free from all taxes, liens and charges with respect to the issue thereof, other than such liens as are imposed by Holder or have been agreed to by Holder. The Company will take all such action as may be necessary to assure that such shares of Common Stock may be issued as provided herein without violation of any domestic securities exchange or automated quotation system upon which the Common Stock may be listed. The Company agrees that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common Stock upon the exercise of this Warrant.

Reservation of Stock; Stock Fully Paid. The Company covenants and agrees that at all times during the term this Warrant is exercisable, the Company will reserve and keep available for issuance from its authorized shares of Series BB Preferred Stock a sufficient number of shares to provide for the issuance of Series BB Preferred Stock upon the exercise in whole or part of this Warrant, and unissued reserve and keep available for issuance from its authorized shares of Common Stock a sufficient number of shares to provide for the issuance of Common Stock upon the exercise conversion of this the Warrant Shares to Common Stock as applicable and, from time to time, will take all steps necessary to amend its certificate of incorporation, as necessary, Articles to provide sufficient reserves of shares of Common Series BB Preferred Stock issuable upon exercise of the WarrantWarrant and Common Stock upon the conversion of the Warrant Shares and will refrain from effecting any amendment to the Articles which in any manner would adversely affect the rights or privileges granted hereunder. The Company further covenants and agrees that all shares that may be issued upon the exercise of rights represented by this Warrant, upon exercise of the rights represented by this Warrant and payment of the Warrant Price, all as set forth herein, will be duly authorized, validly issued, fully paid and nonassessable, free from all preemptive or any similar rights of any stockholder of the Company and free from all taxes, liens and charges with in respect to of the issue thereof, thereof (other than such liens as are imposed by Holder or have been agreed to by Holder. The Company will take all such action as may be necessary to assure that such shares of Common Stock may be issued as provided herein without violation taxes in respect of any domestic securities exchange or automated quotation system upon which the Common Stock may be listedtransfer occurring contemporaneously). The Company agrees that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common Series BB Preferred Stock upon the exercise of this Warrant.

Reservation of Stock; Stock Fully Paid. The Company covenants and agrees that shall at all times during the term that this Warrant is exercisable, the Company will reserve and keep available for issuance from its authorized and unissued shares of Common Stock a sufficient number of shares to provide for the issuance of Common Stock Warrant Shares to be issued upon the exercise in whole or part of this Warrant and, from time to time, will take all steps necessary to amend its certificate of incorporation, as necessary, to provide sufficient reserves of shares of Common Stock issuable upon exercise of the Warrant. The Company further covenants and agrees that all shares Warrant Shares that may be issued issued, upon the exercise of rights Warrants represented by this WarrantWarrant Certificate and payment of the Exercise Price, all as set forth herein, will be duly authorized, validly issued, fully paid and nonassessable, free from all preemptive or any similar rights of any stockholder of the Company and free from all taxes, liens and charges with in respect to of the issue thereof, thereof (other than such liens as are imposed by Holder or have been agreed to by Holder. The Company will take all such action as may be necessary to assure that such shares of Common Stock may be issued as provided herein without violation taxes in respect of any domestic securities exchange or automated quotation system upon which the Common Stock may be listedtransfer occurring contemporaneously). The Company agrees that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common Stock upon the exercise of this Warrant.