Board Determinations. The board of directors of the Company shall have approved all issuances of Shares at such Subsequent Closing and determined that the financing to be provided by the issuance and sale of Shares at such Subsequent Closing is necessary or desirable in connection with the funding of the business of the Company and its Subsidiaries.
Appears in 2 contracts
Sources: Series C Preferred Stock Purchase Agreement (Eschelon Telecom Inc), Series C Preferred Stock Purchase Agreement (Eschelon Telecom Inc)
Board Determinations. The board of directors of the Company shall have approved all issuances of Shares at such the First Subsequent Closing and determined that the financing to be provided by the issuance and sale of Shares at such the First Subsequent Closing is necessary or desirable in connection with the funding of the business of the Company and its Subsidiaries.
Appears in 1 contract
Sources: Series C Preferred Stock Purchase Agreement (Eschelon Telecom Inc)