Common use of Sufficiency of Authorized Common Stock Clause in Contracts

Sufficiency of Authorized Common Stock. During the period from the date the Company obtains the Shareholder Approval until the earlier of the date on which the Notes are converted to Common Stock of the Company or the Notes are repaid, the Company shall at all times have reserved for issuance, free of preemptive or similar rights, a sufficient number of shares of authorized and unissued Common Stock to effectuate such conversion. Nothing in this Section 3.3 shall preclude the Company from satisfying its obligations in respect of the conversion of the Notes by delivery of shares of Common Stock which are held in the treasury of the Company. As soon as practicable following the Closing, the Company shall, at its expense, cause the Shares to be listed on the New York Stock Exchange (“NYSE”) at the time they become freely transferable in the public market under the Securities Act, subject to official notice of issuance, and shall maintain such listing on the NYSE for so long as any Common Stock is listed on the NYSE and any Notes are outstanding.