Reserved Amount. “Reserved Amount” means $66,231,000, unless Borrower elects in writing a lesser amount not to exceed $250,000,000 minus the amount of the Commitment in effect at any time, but in no event greater than $66,231,000. The Fixed Facility Fee and the Variable Facility Fee shall not increase with respect to the Reserved Amount in the event of an Expansion for so long as the Borrower timely pays the Rate Preservation Fee on the Reserved Amount
Reserved Amount. On the Closing Date, the Corporation shall have reserved 3,000,000 shares (200% of number of shares which would be issuable if all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement are exercised in their entirety on the Closing Date) of the authorized but unissued shares of Common Stock for issuance upon the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement (the "Reserved Amount") and thereafter the number of authorized but unissued shares of Common Stock so reserved shall not be decreased and shall at all times be sufficient to provide for the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement at the then current Exercise Price. The Reserved Amount shall be allocated to the holders of Prepaid Warrants as provided in Article IX.
Reserved Amount. Company covenants that during the period while any outstanding balance is owing under the Note or any exercise of the Warrant is available, the Company will reserve from its authorized and unissued Common Stock a number of shares, free from preemptive rights, equal to two (2) times the number of shares that is actually issuable upon full conversion of the Note (based on the Conversion Price of the Notes in effect from time to time) and exercise of the Warrant (the “Reserved Amount”).
Reserved Amount. On the Closing Date, the Corporation shall have reserved 5,967,125 shares (and on and after the date on which the Stockholder Approvals (as defined in the Securities Purchase Agreement) are received that number of shares which is 200% of the number of shares which would be issuable if all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement are exercised in their entirety on the Closing Date) of the authorized but unissued shares of Common Stock for issuance upon the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement (the "RESERVED AMOUNT") and thereafter the number of authorized but unissued shares of Common Stock so reserved shall not be decreased and shall at all times be sufficient to provide for the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement at the then current Exercise Price. The Reserved Amount shall be allocated to the holders of Prepaid Warrants as provided in Article IX.
Reserved Amount. The Issuer agrees that until the repayment or conversion of this Promissory Note in full, the Issuer will reserve from its authorized and unissued Equity Securities a sufficient number of shares, free of preemptive rights, to provide for the issuance of the shares of Equity Securities upon full conversion of this Note.
Reserved Amount. On the Closing Date and thereafter, the --------------- Company shall have authorized and reserved and keep available for issuance not less than 1,129,568 shares (subject to equitable adjustment for any stock splits, stock dividends, reclassification or similar events and subject to reduction for the number of any shares of Common Stock issued upon conversion of the Convertible Securities and upon the exercise of the Warrants)) shares of Common Stock (the "Reserved Amount") solely for the purpose of effecting the --------------- conversion of the Convertible Securities and the exercise of the Warrant. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock a sufficient number of shares of Common Stock to provide for the full conversion of all Convertible Securities and issuance of the shares of Common Stock in connection therewith in each of the foregoing cases without regard to any limitation on conversion or exercise and the full exercise of the Warrant and issuance of the shares of Common Stock in connection therewith in each of the foregoing cases without regard to any limitation on conversion or exercise. If the Reserved Amount for any three (3) consecutive trading days (the last of such three (3) trading days being the "Authorization ------------- Trigger Date") shall be less than 175% of the number of shares of Common Stock ------------ issuable upon conversion of Convertible Securities and exercise of the Warrant on such trading days, the Company shall immediately notify the Purchaser of such occurrence and shall take action as soon as possible, but in any event within sixty (60) days after an Authorization Trigger Date (including, if necessary, shareholder approval to authorize the issuance of additional shares of Common Stock), to increase the Reserved Amount to two hundred percent (200%) of the number of shares of Common Stock then issuable upon conversion of the Convertible Securities and exercise of the Warrant in each of the foregoing cases without regard to any limitation on conversion or exercise.
Reserved Amount. On or prior to the Issuance Date, the Corporation shall reserve 153,500,000 shares of its authorized but unissued shares of Common Stock, so reserved (the “Reserved Amount”) shall at all times be sufficient to provide for the full conversion of all of the Series A Preferred Stock.
Reserved Amount. The Corporation shall reserve 2,500,000 authorized and unissued shares of Common Stock for issuance upon conversion of this Note pursuant to Article III.A hereof, and thereafter the number of authorized but unissued shares of Common Stock so reserved shall not be decreased and shall at all times be sufficient to provide for the conversion of this Note pursuant to Article III.A hereof at the then current Conversion Price (the number of shares of Common Stock so reserved pursuant to this Article IV.A being referred to herein as the "Reserved Amount").
Reserved Amount. On the Issue Date, the Corporation shall reserve 10,800,000 shares of the authorized but unissued shares of Common Stock for issuance upon conversion of the Notes, and upon exercise of the Warrants and thereafter the number of authorized but unissued shares of Common Stock so reserved (the "Reserved Amount") shall not be decreased and shall at all times be sufficient to provide for the conversion of the Notes (including an amount equal to the interest that would accrue over a two-year period on the original principal balance of this Note) at a price equal to the lower of (i) $7.00 (subject to Equitable Adjustments) and (ii) the Conversion Price, in each case then in effect, taking into account any adjustments pursuant to Article VIII hereof, and to provide for any shares of Common Stock issued or then issuable as a result of a Conversion Default hereunder, the occurrence of an Event of Default hereunder, the exercise of the Warrants or any other payment convertible into shares of Common Stock pursuant to the terms hereof or that certain Registration Rights Agreement by and among the Corporation and the other signatories thereto entered in connection with the Securities Purchase Agreement (the "Registration Rights Agreement"). The Reserved Amount shall be allocated to the Holders of the Notes as provided in Article X.D.
Reserved Amount. On the Issue Date, the Corporation shall have reserved 60,000 authorized but unissued shares of Common Stock for issuance upon conversion of this Debenture and exercise of the Warrants issuable upon conversion hereof and thereafter the number of authorized but unissued shares of Common Stock so reserved (the "Reserved Amount") shall not be decreased and shall at all times be sufficient to provide for the conversion of the outstanding principal amount of this Debenture (and accrued interest thereon) at the then current Conversion Price and exercise of the Warrants then issuable upon conversion hereof.
