Reserve for Reserved Shares. The Corporation shall at all times reserve and keep available (i) out of its authorized but unissued shares of Common Stock such number of shares of Common Stock as shall be sufficient to effect the conversion of the Series A Preferred Shares and the exercise of the Warrants or otherwise to comply with the terms of this Agreement and (ii) out of its authorized but unissued shares of Series A Preferred Stock such number of shares of Series A Preferred Stock as shall be sufficient to effect the exercise of the Warrants. All shares of Common Stock or Series A Preferred Stock, as the case may be, which are so issuable shall, when issued, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and charges. The Corporation shall take all such actions as may be necessary to assure that all such shares of Common Stock or Series A Preferred Stock, as the case may be, may be so issued without violation of any applicable law or governmental regulation or any requirements of any domestic securities exchange upon which shares of Common Stock or Series A Preferred Stock, as the case may be, may be listed (except for official notice of issuance which shall be immediately transmitted by the Corporation upon issuance). If at any time the number of authorized but unissued shares of Common Stock or Series A Preferred Stock, as the case may be, shall not be sufficient to effect the conversion of the Series A Preferred Shares or the exercise of the Warrants or otherwise to comply with the terms of this Agreement, the Corporation forthwith will take such corporate action as may be necessary to increase its authorized but unissued shares of Common Stock or Series A Preferred Stock, as the case may be, to such number of shares as shall be sufficient for such purposes. The Corporation will obtain any authorization, consent, approval or other action by or make any filing with any court or administrative body that may be required under applicable state securities laws in connection with the issuance of shares of Common Stock or Series A Preferred Stock, as the case may be, upon conversion of the Series A Preferred Shares or the exercise of the Warrants.
Reserve for Reserved Shares. 30 8.7. Maintenance of Reporting Status; Supplemental Information . . . . . . . . . . . . . . . . . . . . . . 30 8.8. Rule 144. . . . . . . . . . . . . . . . . . . . . . . . 31 8.9. Notice of Events of Default; Litigation.. . . . . . . . 31 8.10. Maintenance of Existence; Properties and Franchises; Compliance with Law; Taxes; Insurance.. . . . . . . . . 31 8.11.
Reserve for Reserved Shares. The Corporation currently has reserved an aggregate of 22 Million (22,000,000) shares of its authorized but unissued Common Stock for purposes of effecting the conversion of the shares of Preferred Stock and paying the Investors dividends in Common Stock. The Corporation shall at all times take appropriate steps to reserve and keep available out of its authorized but unissued shares of Common Stock, for the purpose of effecting the conversion of the shares of Preferred Stock, paying the Investors dividends in Common Stock and paying Default Dividends in respect to the Preferred Stock in accordance with the Series B-1 Certificate of Designation and Series C Certificate of Designation, and otherwise complying with the terms of this Agreement, such additional number of its duly authorized but unissued shares of Common Stock as shall be sufficient to effect the conversion of the shares of Preferred Stock from time to time outstanding, or otherwise to comply with the terms of this Agreement. If at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of the shares of Preferred Stock, or otherwise to comply with the terms of this Agreement or either the Series B-1 Certificate of Designation or the Series C Certificate of Designation, the Corporation shall forthwith take such corporate action as may be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purposes. The Corporation shall obtain any authorization, consent, approval or other action by or make any filing with any court or administrative body that may be required under applicable state securities laws in connection with the issuance of shares of Common Stock upon conversion of the shares of Preferred Stock. (b)
Reserve for Reserved Shares. The Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Class A Common Stock, for the purpose of effecting the conversion of the Acquired Preferred Shares and otherwise complying with the terms of this Agreement, such number of its duly authorized shares of Class A Common Stock as shall be sufficient to effect the conversion of the Acquired Preferred Shares from time to time outstanding or otherwise to comply with the terms of this Agreement. If at any time the number of authorized but unissued shares of Class A Common Stock shall not be sufficient to effect the conversion of the Series C Preferred Shares or otherwise to comply with the terms of this Agreement, the Corporation will forthwith take such corporate action as may be necessary to increase its authorized but unissued shares of Class A Common Stock to such number of shares as shall be sufficient for such purposes. The Corporation will obtain any authorization, consent, approval or other action by or make any filing with any court or administrative body that may be required under applicable state securities laws in connection with the issuance of shares of Class A Common Stock upon conversion of the Acquired Preferred Shares.
Reserve for Reserved Shares. The Corporation currently has reserved an aggregate of (i) Two Million Two Hundred Seventy-Six Thousand Three Hundred Sixty-Four (2,276,364) shares of its authorized but unissued shares of Common Stock for purposes of effecting the conversion of the shares of Series D Preferred Stock and paying Investor and Purchasers dividends in Common Stock during the three (3) years immediately following the date of original issuance of Series D Preferred Stock; and (ii)
