Common use of Reserved Shares Clause in Contracts

Reserved Shares. The Company warrants that there have been reserved, and covenants that at all times in the future, it shall keep reserved, out of the authorized and unissued Common Stock, such number of Shares sufficient to provide for the exercise of the rights of purchase represented by this Warrant Certificate. The Company agrees that all Shares issuable upon exercise of the Warrants shall be, at the time of delivery of the certificates for such Shares, validly issued and outstanding, fully paid and non-assessable and that the issuance of such Shares will not give rise to preemptive rights in favor of existing stockholders.

Reserved Shares. The Company warrants that there have been reserved, and covenants that at all times in the future, future it shall keep reserved, out of the authorized and unissued Common Stock, such a number of Shares sufficient to provide for the exercise of the rights of purchase represented by this Warrant Certificate. The Company agrees that all Shares issuable upon exercise of the Warrants shall be, at the time of delivery of the certificates for such Shares, validly issued and outstanding, fully paid and non-assessable and that the issuance of such Shares will not give rise to preemptive rights in favor of existing stockholders.

Reserved Shares. The Company warrants that there have been reserved, and covenants that at all times in the future, future it shall keep reserved, out of the authorized and unissued Common Stock, such a number of Shares sufficient to provide for the exercise of the rights of purchase represented by this Warrant Certificate. The Company agrees that all Shares issuable upon exercise of the Warrants shall be, at the time of delivery of the certificates for such Shares, validly issued and 4 outstanding, fully paid and non-assessable and that the issuance of such Shares will not give rise to preemptive rights in favor of existing stockholders.

Reserved Shares. The Company warrants that there have been reserved, and covenants that at all times in the future, future it shall keep reserved, out of the authorized and unissued Common Stock, such a number of Shares sufficient to provide for the exercise of the rights of purchase represented by this Warrant Certificate. The Company agrees that all Shares issuable upon exercise of the Warrants shall be, at the time of delivery of the certificates for such Shares, validly issued and - 3- PAGE 58 OF 63 PAGES 59 outstanding, fully paid and non-assessable and that the issuance of such Shares will not give rise to preemptive rights in favor of existing stockholders.