Initial Required Reserved Amount Sample Clauses

Initial Required Reserved Amount a. Section 3(c) of the SPA is hereby amended such that (i) from the Effective Time through 11:59:59 pm New York time on March 31, 2016, the Initial Required Reserved Amount as defined in such section shall mean 85,000,000 shares of Common Stock duly authorized and reserved for issuance as Conversion Shares and Warrants Shares and (ii) from and after 12:00:00 am New York time on April 1, 2016, the Initial Required Reserved Amount as defined in such section shall mean 120,000,000 shares of Common Stock duly authorized and reserved for issuance as Conversion Shares and Warrants Shares. b. Section 4(l) of the SPA, Section 11(a) of the Notes and Section 1(g) of the Warrants, to the extent they reference the defined term “Initial Required Reserved Amount” (as defined in the SPA) are hereby amended to reference such term as amended pursuant to Section 1(a) hereof.