Authorization of Issue of Securities Sample Clauses

The 'Authorization of Issue of Securities' clause grants a company the legal authority to create and distribute new shares or other financial instruments. Typically, this clause outlines the conditions under which the board of directors or shareholders may approve the issuance, including the maximum number of securities, classes of shares, and any required approvals. Its core function is to ensure that the process of issuing new securities is conducted transparently and in accordance with corporate governance rules, thereby preventing unauthorized or improper dilution of existing ownership.
Authorization of Issue of Securities. The Company has authorized the issue of (A) its Series A Preferred Units as defined and having the designations, rights and preferences (collectively, “Rights”) set forth in the LLC Agreement (the “Preferred Units”) and (B) its Class D Common Units as defined and having the Rights set forth in the LLC Agreement (the “Common Units”). The terms Preferred Units and Common Units as used herein shall include each Preferred Unit and Common Unit, respectively, delivered pursuant to any provision of this Agreement. The Preferred Units and Common Units are sometimes collectively referred to herein as the “Securities.” Each Preferred Unit shall accrue a yield of 15.0% per annum on the sum of (i) the Unreturned Capital Value of such Preferred Unit plus (ii) the Unpaid Yield on such Preferred Unit for all prior quarterly periods (or any portion thereof) ending on any March 31, June 30, September 30 or December 31 (provided that, during any period when an Event of Default shall be in existence, the rate of accrual for such yield shall be 17% per annum from and after the date of such Event of Default and until such Event of Default has been cured or waived in accordance with the terms of this Agreement, as provided in the definition of “Yield” set forth in the LLC Agreement).
View SourceView Similar (3)
Authorization of Issue of Securities. Section 1 of the Original Purchase Agreement is hereby amended and supplemented by adding the following paragraphs to the end thereof:
View Source
Authorization of Issue of Securities. 2 2.1 Authorization of Issue of Notes.......................................................2
View Source
Authorization of Issue of Securities 
View SourceView Similar (7)

Related to Authorization of Issue of Securities

  • Issue of Securities All necessary corporate action has been taken, or will be taken before Closing, to authorize the issue and sale of, and the delivery of certificates representing, the Unit Shares, Unit Warrants and Compensation Options and, upon fulfillment of the exercise requirements thereof, including payment of the requisite consideration therefor, the Unit Shares, Unit Warrant Shares and Compensation Option Shares will be validly issued as fully paid and non-assessable Common Shares.

  • Authorization and Description of Securities The Securities to be purchased by the Underwriters from the Company have been duly authorized for issuance and sale to the Underwriters pursuant to this Agreement and, when issued and delivered by the Company pursuant to this Agreement against payment of the consideration set forth herein, will be validly issued and fully paid and non-assessable; and the issuance of the Securities is not subject to the preemptive or other similar rights of any securityholder of the Company. The Common Stock conforms to all statements relating thereto contained in the Registration Statement, the General Disclosure Package and the Prospectus and such description conforms to the rights set forth in the instruments defining the same. No holder of Securities will be subject to personal liability by reason of being such a holder.

  • Authorization of Securities The Securities to be sold by the Company under this Agreement have been duly authorized for issuance and sale to the Underwriters pursuant to this Agreement and, when issued and delivered by the Company pursuant to this Agreement against payment of the consideration set forth herein, will be validly issued, fully paid and non-assessable; no holder of the Securities is or will be subject to personal liability by reason of being such a holder; and the issuance and sale of the Securities to be sold by the Company under this Agreement are not subject to any preemptive rights, rights of first refusal or other similar rights of any securityholder of the Company or any other person.

  • Authorization of Indenture The Indenture has been duly authorized by the Company and, on the Closing Date, will have been duly executed and delivered by the Company, and assuming due authorization, execution and delivery of the Indenture by the Indenture Trustee, the Indenture will constitute a valid, legal and binding agreement of the Company, enforceable against the Company in accordance with its terms, except to the extent that enforceability may be limited by the Enforceability Exceptions.