Common use of Reserved Shares and Listings; Exchange Act Clause in Contracts

Reserved Shares and Listings; Exchange Act. For so long as any Convertible Debentures remain outstanding: (a) the Company will reserve or undertake to obtain shareholders approval (to be completed within 30 days of the date hereof) to increase the available number of authorized but unissued shares of Common Stock, par value $0.001 per share ("Common Stock"), to permit the conversion in full of the outstanding principal and interest amount of Convertible Debentures (unless the appropriate Standstill Agreements are in place); and (b) the Company will maintain the listing of its Shares on the Over the Counter Bulletin Board or other exchange; and (c) the Company shall timely file all reports required to be filed with the Commission pursuant to the Exchange Act and the Company shall not terminate its status as an issuer required to file reports under the Exchange Act even if the Exchange Act or the rules and regulations thereunder would permit such termination.

Reserved Shares and Listings; Exchange Act. For so long as any Convertible Debentures remain outstanding: (a) the Company will reserve or undertake to obtain shareholders approval (to be completed within 30 days of the date hereof) to increase the available number of authorized but unissued shares of Common Stock, par value $0.001 per share ("“Common Stock"”), to permit the conversion in full of the outstanding principal and interest amount of Convertible Debentures (unless the appropriate Standstill Agreements are in place); and (b) the Company will maintain the listing of its Shares on the Over the Counter Bulletin Board or other exchange; and (c) the Company shall timely file all reports required to be filed with the Commission pursuant to the Exchange Act and the Company shall not terminate its status as an issuer required to file reports under the Exchange Act even if the Exchange Act or the rules and regulations thereunder would permit such termination.