Common use of Certain Other Actions Clause in Contracts

Certain Other Actions. The Issuer (i) shall take all reasonable actions as may be necessary under the Delaware General Corporation Law in order that the Issuer may validly and legally issue fully paid and nonassessable shares of Issuer Stock to the Recipients at such time as required under this Agreement and (ii) shall at all times reserve and keep available out of its authorized but unissued shares, a sufficient number of shares of Issuer Stock to permit the issuance of Earnout Shares, as may be adjusted hereunder.

Appears in 2 contracts

Sources: Earnout Agreement (Avatar Holdings Inc), Earnout Agreement (Avatar Holdings Inc)