Common use of Options, Reserved Shares Clause in Contracts

Options, Reserved Shares. The Company has authorized sufficient Ordinary Shares for issuance upon conversion of the Series A Preferred Shares and sufficient Series A Preferred Shares for issuance upon exercise of the Warrants. Except for (1) the conversion privileges of the Series A Preferred Shares, (2) the Warrants to be granted to the Investor as of the Closing, and (3) the participation rights and other similar rights provided in the Ancillary Agreements, there are no options, warrants, reserved shares, conversion privileges or other rights, or agreements with respect to the issuance thereof, presently outstanding to purchase any of the shares of the Company before the Closing. Apart from the exceptions noted in this Section 3.4 and the Ancillary Agreements, no shares of the Company’s outstanding share capital, or shares issuable upon exercise or exchange of any outstanding options or other shares issuable by the Company, are subject to any participation rights, rights of first refusal or other rights to purchase such shares.

Options, Reserved Shares. The Company has authorized sufficient Ordinary Shares for issuance upon conversion of the Series A Preferred Shares and sufficient Series A Preferred Shares for issuance upon exercise of the WarrantsShares. Except for (1i) the conversion privileges of the Series A Preferred Shares, (2) Shares and as contemplated hereby and in the Warrants to be granted to Flagship Share Purchase Agreement and the Investor as of the ClosingLoan Agreement, and (3ii) Options that may be granted under the participation rights and other similar rights provided in the Ancillary AgreementsOriginal ESOP, there are no options, warrants, reserved shares, conversion privileges or other rights, or agreements with respect to the issuance thereof, presently outstanding to purchase any of the shares of the Company before the Closing. Apart from the exceptions noted in this Section 3.4 3.4, the Ancillary Agreements and the Ancillary AgreementsFlagship Share Purchase Agreement and the Loan Agreement, no shares of the Company’s outstanding share capital, or shares issuable upon exercise or exchange of any outstanding options or other shares issuable by the Company, are subject to any participation rights, rights of first refusal or other rights to purchase such shares.

Options, Reserved Shares. The Company has authorized sufficient Ordinary Shares for issuance upon conversion of the Series A B Preferred Shares and sufficient Series A Preferred Shares for issuance upon exercise of the WarrantsShares. Except for (1i) the conversion privileges of the Series A Preferred Shares, (2ii) the Warrants to be granted to the Investor as conversion privileges of the ClosingSeries B Preferred Shares set forth herein, and (3iii) options that may be granted under the participation rights and other similar rights provided in long term incentive plan to be adopted by the Ancillary AgreementsCompany, there are no options, warrants, reserved shares, conversion privileges or other rights, or agreements with respect to the issuance thereof, presently outstanding to purchase any of the shares of the Company before the Closing. Apart from the exceptions noted in this Section 3.4 and the Ancillary Agreements, no shares of the Company’s outstanding share capital, or shares issuable upon exercise or exchange of any outstanding options or other shares issuable by the Company, are subject to any participation rights, rights of first refusal or other rights to purchase such shares.

Options, Reserved Shares. The Company has authorized sufficient Ordinary Shares for issuance upon conversion of the Series A A-1 Senior Preferred Shares and sufficient Series A A-1 Senior Preferred Shares for issuance upon exercise of the WarrantsSeries A-1 Option. Except for (1) the conversion privileges of the Series A Preferred Shares, (2) the Warrants to be granted to the Investor as conversion privileges of the ClosingSeries A-1 Senior Preferred Shares, and (3) the participation rights Series A-1 Second Tranche Option and other similar rights provided in (4) the Ancillary AgreementsSeries A-1 Third Tranche Option, there are no options, warrants, reserved shares, conversion privileges or other rights, or agreements with respect to the issuance thereof, presently issued or outstanding to purchase any of the shares of the Company before the Initial Closing. Apart from the exceptions noted in this Section 3.4 and the Ancillary Agreements3.4, no shares of the Company’s issued and outstanding share capital, or shares issuable upon exercise or exchange of any issued or outstanding options or other shares issuable by the Company, are subject to any participation rights, rights of first refusal or other rights to purchase such shares.