Reserved Amount. “Reserved Amount” means $66,231,000, unless Borrower elects in writing a lesser amount not to exceed $250,000,000 minus the amount of the Commitment in effect at any time, but in no event greater than $66,231,000. The Fixed Facility Fee and the Variable Facility Fee shall not increase with respect to the Reserved Amount in the event of an Expansion for so long as the Borrower timely pays the Rate Preservation Fee on the Reserved Amount
Reserved Amount. On the Closing Date, the Corporation shall have reserved 3,500,000 shares (200% of number of shares which would be issuable if all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement are exercised in their entirety on the Closing Date) of the authorized but unissued shares of Common Stock for issuance upon the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement (the "RESERVED AMOUNT") and thereafter the number of authorized but unissued shares of Common Stock so reserved shall not be decreased and shall at all times be sufficient to provide for the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement at the then current Exercise Price. The Reserved Amount shall be allocated to the holders of Prepaid
Reserved Amount. Company covenants that during the period while any outstanding balance is owing under the Note or any exercise of the Warrant is available, the Company will reserve from its authorized and unissued Common Stock a number of shares, free from preemptive rights, equal to two (2) times the number of shares that is actually issuable upon full conversion of the Note (based on the Conversion Price of the Notes in effect from time to time) and exercise of the Warrant (the “Reserved Amount”).
Reserved Amount. On the Closing Date, the Corporation shall have reserved 5,967,125 shares (and on and after the date on which the Stockholder Approvals (as defined in the Securities Purchase Agreement) are received that number of shares which is 200% of the number of shares which would be issuable if all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement are exercised in their entirety on the Closing Date) of the authorized but unissued shares of Common Stock for issuance upon the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement (the "RESERVED AMOUNT") and thereafter the number of authorized but unissued shares of Common Stock so reserved shall not be decreased and shall at all times be sufficient to provide for the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement at the then current Exercise Price. The Reserved Amount shall be allocated to the holders of Prepaid Warrants as provided in Article IX.
Reserved Amount. The Issuer agrees that until the repayment or conversion of this Promissory Note in full, the Issuer will reserve from its authorized and unissued Equity Securities a sufficient number of shares, free of preemptive rights, to provide for the issuance of the shares of Equity Securities upon full conversion of this Note.
Reserved Amount. On the date of the Closing and thereafter, the Company shall have authorized and reserved and keep available for issuance not less than 8,500,000 (subject to equitable adjustment for any stock splits, stock dividends, reclassification or similar events and subject to reduction for the number of any shares of Class A Common Stock issued upon conversion of the Convertible Securities and upon the exercise of the Warrants) shares of Class A Common Stock (the " Reserved Amount") solely for the purpose of effecting the conversion of the Convertible Securities and the exercise of the Warrants. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Class A Common Stock a sufficient number of shares of Class A Common Stock to provide for the full conversion of all Convertible Securities and the issuance of the shares of Class A Common Stock in connection therewith and the full exercise of the Warrants and the issuance of the shares of Class A Common Stock in connection therewith, in each of the foregoing cases without regard to any limitation on conversion or exercise. The Reserved Amount shall be allocated ratably among the Purchasers in accordance with the principal amount of Convertible Securities and Warrants held by them from time to time. If the Reserved Amount for any three (3) consecutive trading days (the last of such three (3) trading days being the "Authorization Trigger Date") shall be less than 175% of the number of shares of Class A Common Stock issuable upon conversion of Convertible Securities and 100% of the number of shares then issuable upon exercise of the Warrants on such trading days, the Company shall immediately notify each Purchaser of such occurrence and shall take action as soon as possible, but in any event within sixty (60) days after an Authorization Trigger Date (including, if necessary, shareholder approval to authorize the issuance of additional shares of Class A Common Stock), to increase the Reserved Amount to two hundred percent (200%) of the number of shares of Class A Common Stock then issuable upon conversion of the Convertible Securities and 100% of the number of shares then issuable upon exercise of the Warrants in each of the foregoing cases without regard to any limitation on conversion or exercise.
Reserved Amount. On or prior to the Issuance Date, the Corporation shall reserve 153,500,000 shares of its authorized but unissued shares of Common Stock, so reserved (the “Reserved Amount”) shall at all times be sufficient to provide for the full conversion of all of the Series A Preferred Stock.
Reserved Amount. On the Issue Date, the Corporation shall have authorized and reserved and shall thereafter keep available for issuance from its authorized but unissued shares of Common Stock not less than 10,052,500 shares of Common Stock solely for the purpose of issuance upon conversion of this Debenture. Such number of authorized but unissued shares of Common Stock so reserved (the "RESERVED AMOUNT") shall not be decreased, except in the case of reverse stock splits and similar transactions, and shall at all times be sufficient to provide for the conversion of the outstanding principal amount of this Debenture (and accrued interest thereon) at the then current Conversion Price.
Reserved Amount. On or prior to the Issuance Date, the Corporation shall reserve ? shares of its authorized but unissued shares of Common Stock for issuance upon conversion of the Series A Preferred Stock, and, thereafter, the number of authorized but unissued shares of Common Stock so reserved (the “Reserved Amount”) shall at all times be sufficient to provide for the full conversion of all of the Series A Preferred Stock outstanding at the then current Conversion Price thereof. The Reserved Amount shall be allocated among the holders of Series A Preferred Stock as provided in Article XIV.C.
Reserved Amount. The initial Reserved Amount shall be allocated pro rata among the holders of Series A Preferred Stock based on the number of shares of Series A Preferred Stock issued to each such holder. Each increase to the Reserved Amount shall be allocated pro rata among the holders of Series A Preferred Stock based on the number of shares of Series A Preferred Stock held by each holder at the time of the increase in the Reserved Amount. In the event a holder shall sell or otherwise transfer any of such holder’s shares of Series A Preferred Stock, each transferee shall be allocated a pro rata portion of such transferor’s Reserved Amount. Any portion of the Reserved Amount which remains allocated to any person or entity which does not hold any Series A Preferred Stock shall be allocated to the remaining holders of shares of Series A Preferred Stock, pro rata based on the number of shares of Series A Preferred Stock then held by such holders.
