Common use of Underlying Preference Warrant Shares Clause in Contracts

Underlying Preference Warrant Shares. The Company shall at all times reserve and keep available, free from preemptive rights (except as otherwise authorized in this Agreement), out of its authorized but unissued Common Stock or Common Stock held in the treasury of the Company, for the purpose of effecting the exercise of Preference Warrants, the full number of Preference Warrant Shares then deliverable upon the exercise of all Preference Warrants then outstanding and payment of the exercise price, and the shares so deliverable shall be fully paid and nonassessable and free from all liens and security interests.