ISSUANCE OF ENTERTAINMENT BOULEVARD SHARES TO FMITV Sample Clauses

ISSUANCE OF ENTERTAINMENT BOULEVARD SHARES TO FMITV. As partial consideration for FMiTV's services hereunder, Entertainment Boulevard shall issue Entertainment Boulevard Shares as set forth in this Section 3.3 and Section 7.2(d)(i). It is the understanding and agreement of the parties that if all of the milestones have been achieved as provided herein, FMiTV shall be entitled to receive such number of Entertainment Boulevard Shares which upon conversion (inclusive of the Entertainment Boulevard Shares issuable pursuant to Section 7.2(d)(i)) shall entitle FMiTV to receive a percentage (the "Target Percentage") of the outstanding shares of the common stock of Entertainment Boulevard equal to 20% plus that percentage of the outstanding shares of Entertainment Boulevard Common Stock represented by the Shortfall Shares (the "Shortfall Percentage"). The Target Percentage shall be determined as follows:
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