Common use of Reservation of Warrant Stock Clause in Contracts

Reservation of Warrant Stock. If at any time the number of authorized but unissued shares of the Warrant Stock shall not be sufficient to effect the exercise of this Warrant, the Company shall take all such corporate action as may be necessary to increase its authorized but unissued shares of the Warrant Stock to such number of shares of the Warrant Stock as shall be sufficient for such purpose. The parties acknowledge that the Company currently does not have any authorized but unissued shares of the Warrant Stock available for issuance and the Company hereby agrees to use its best efforts to take action to call a shareholder meeting and increase its authorized but unissued Warrant Stock as soon as practicable.

Reservation of Warrant Stock. If at any time the number of authorized but unissued shares of the Warrant Stock shall not be sufficient to effect the exercise of this Warrant, the Company shall take all such corporate action as may be necessary to increase its authorized but unissued shares of the Warrant Stock to such number of shares of the Warrant Stock as shall be sufficient for such purpose. The parties acknowledge that the Company currently does not have any authorized but unissued shares of the Warrant Stock available for issuance and the Company hereby agrees to use its best efforts to take action to call a shareholder stockholder meeting and increase its authorized but unissued Warrant Stock as soon as practicable.