Common use of Issuance of Additional Preferred Shares Clause in Contracts

Issuance of Additional Preferred Shares. The Company may issue those shares of Series A Preferred Stock as contemplated by and pursuant to the terms and conditions of the US WEST Agreement (such shares are referred to herein as the "Additional Preferred Shares"). The Purchasers by consummating the purchase of the Preferred Shares, thereby grant their consent, as holders of Series A Preferred Stock and pursuant to paragraph 5(b)(12) of the Certificate of Designation, to the above-described issuance of the Additional Preferred Shares and waive any rights, including preemptive rights, they may have under the Shareholders' Agreement with respect to the issuance of the Additional Preferred Shares.