Common use of Reserved Amount Clause in Contracts

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 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 AmountRESERVED AMOUNT") shall not be decreased and shall at all times be sufficient to provide for the full 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 VII 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 hereunder or any other payment convertible into shares of Common Stock pursuant to the terms hereof or that certain Registration Rights Agreement Agreement, as amended (the "REGISTRATION RIGHTS AGREEMENT") by and among the Corporation and the other signatories thereto entered in connection with the Securities Purchase Agreement Agreement, as amended, by and among the Corporation and the Holders (the "Registration Rights AgreementSECURITIES PURCHASE AGREEMENT"). The Reserved Amount shall be allocated to the Holders of the Notes as provided in Article X.D.IX.