Authorized Number. The number of shares constituting the Series B Stock shall be one million (1,000,000). The number of authorized shares of Series B Stock may be reduced by further resolution of the Board of Directors of the Company and by the filing of a certificate pursuant to the provisions of the Section 151(g) of the General Corporation Law of the State of Delaware stating that such reduction has been so authorized (but not below the number of shares of Series B Stock then outstanding) but the number of authorized shares of Series B Stock shall not be increased.
Appears in 2 contracts
Sources: Securities Purchase Agreement (BMP Mobility Ag Venture Capital), Securities Purchase Agreement (BMP Mobility Ag Venture Capital)