Common use of Reservation for Issuance Clause in Contracts

Reservation for Issuance. The Company will at all times reserve and keep available, out of its authorized but unissued Common Stock, solely for the purpose of effecting the conversion of the Preferred Shares, the full number of Conversion Shares. Additionally, the Company will at all times prior to the Closing reserve and keep available, out of its authorized but unissued shares of preferred stock, solely for the purpose of issuing the Preferred Shares at the Closing, a sufficient number of shares of preferred stock to allow the issuance of all shares of Preferred Stock necessary to be issued to the Holders.