Common Stock Reserve Clause Samples
The Common Stock Reserve clause establishes that a certain number of shares of common stock are set aside and reserved for specific purposes, such as the potential conversion of convertible securities or the exercise of stock options and warrants. In practice, this means the company must ensure it has enough authorized but unissued shares available to fulfill these future obligations, preventing over-issuance or dilution issues. The core function of this clause is to guarantee that the company can meet its commitments to investors or employees without legal or logistical complications, thereby ensuring transparency and reliability in equity-related transactions.
Common Stock Reserve. The Corporation shall at all times during the term of this Stock Option Agreement reserve and keep available such number of shares of Common Stock as will be sufficient to satisfy the requirements of this Stock Option Agreement.
Common Stock Reserve. The Company hereby confirms that it previously has authorized and instructed its Transfer Agent and registrar for the Common Stock to create a special account for the reserve of shares of Common Stock to be issued upon exercise of the Warrants, and such reserve account shall be maintained until the earlier of (1) the Expiration Time and (2) the time at which all Warrants have been exercised.
Common Stock Reserve. The Company will reserve and keep available at all times, free of pre-emptive rights, shares of Common Stock for the purpose of enabling the Company to satisfy all obligations to issue the Underlying Securities upon conversion of the Securities. The Company will use its best efforts to list, subject to notice of issuance, the Underlying Securities on the New York Stock Exchange (the “Exchange”).
Common Stock Reserve. Maintain in reserve, at all times that the Warrants are unexercised, authorized, but unissued and unreserved, shares of Common Stock for issuance upon exercise of the Warrants.
Common Stock Reserve. Maintain in reserve, at all times that the Notes are unpaid, Common Stock for issuance upon conversion of the Notes.
Common Stock Reserve. The Warrant Agent is hereby authorized to create a special account for the reserve of shares of Common Stock to be issued upon exercise of the Warrants.
Common Stock Reserve. The Corporation shall at all times reserve and keep available, out of its authorized but unissued Common Stock, solely for the purpose of effecting the conversion of the shares of Class A Convertible Preferred Stock, the full number of shares of Common Stock issuable upon the conversion of all shares of Class A Convertible Preferred Stock from time to time outstanding.
Common Stock Reserve. From the date hereof to the date on which the Purchasers has exercised its rights in full under the Certificate of Designations, the Company shall reserve for issuance to the Purchasers a number of shares of Common Stock at least equal to the number of Underlying Shares.
Common Stock Reserve. The Corporation shall at all times reserve -------------------- and keep available, out of its authorized but unissued Common Stock, solely for the purpose of effecting the conversion of the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, and Series F Preferred Stock, the full number of shares of Common Stock issuable upon the conversion of all Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, and Series F Preferred Stock from time to time outstanding. The Corporation shall from time to time (subject to obtaining necessary director and stockholder action), in accordance with the laws of the State of Delaware, increase the authorized amount of its Common Stock if at any time the authorized number of shares of its Common Stock remaining unissued shall not be sufficient to permit the conversion of all of the shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, and Series F Preferred Stock at the time outstanding.
Common Stock Reserve. Subject to amendment of its Articles of Incorporation, maintain in reserve, at all times that the Notes are unpaid, Common Stock for issuance upon conversion of the Notes.