Fully Paid and Nonassessable Shares Sample Clauses

The 'Fully Paid and Nonassessable Shares' clause establishes that shares issued by a company have been paid for in full and that shareholders are not subject to any further payment obligations to the company regarding those shares. In practice, this means that once an investor purchases shares and pays the agreed-upon price, they cannot be required to contribute additional funds, even if the company later faces financial difficulties. This clause provides certainty and protection to shareholders by ensuring their financial liability is limited to their initial investment, thereby making the shares more attractive and reducing the risk of unexpected future assessments.
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Fully Paid and Nonassessable Shares. The shares of Buyer Common Stock to be issued to Seller pursuant to this Agreement will, on the date of issuance and delivery to Seller pursuant to this Agreement, be duly authorized, validly issued, fully paid and nonassessable and free of any preemptive rights.
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Fully Paid and Nonassessable Shares. Upon receipt by the Company of the proceeds from the Purchased Shares and the delivery of the certificate(s) for the Purchased Shares to Purchaser, the Purchased Shares will be validly issued, fully paid and nonassessable.
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Related to Fully Paid and Nonassessable Shares

  • Certificates Nonassessable and Fully Paid It is the intention of the Depositor that Certificateholders shall not be personally liable for obligations of the Trust Fund, that the interests in the Trust Fund represented by the Certificates shall be nonassessable for any reason whatsoever, and that the Certificates, upon due authentication thereof by the Trustee pursuant to this Agreement, are and shall be deemed fully paid.

  • Trust Certificates Nonassessable and Fully Paid Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.03, 3.04 or 3.05, the Trust Certificates are and shall be deemed fully paid.

  • Stock Fully Paid The Issuer represents, warrants, covenants and agrees that all shares of Warrant Stock which may be issued upon the exercise of this Warrant or otherwise hereunder will, upon issuance, be duly authorized, validly issued, fully paid and non-assessable and free from all taxes, liens and charges created by or through Issuer. The Issuer further covenants and agrees that during the period within which this Warrant may be exercised, the Issuer will at all times have authorized and reserved for the purpose of the issue upon exercise of this Warrant a sufficient number of shares of Common Stock to provide for the exercise of this Warrant.

  • Fully Paid Stock; Taxes The Company agrees that the shares of the Common Stock represented by each and every certificate for Warrant Shares delivered upon the exercise of this Warrant shall, at the time of such delivery, be validly issued and outstanding, fully paid and nonassessable, and not subject to preemptive rights, and the Company will take all such actions as may be necessary to assure that the par value or stated value, if any, per share of the Common Stock is at all times equal to or less than the Warrant Price. The Company further covenants and agrees that it will pay, when due and payable, any and all federal and state stamp, original issue or similar taxes which may be payable in respect of the issuance of any Warrant Share or certificate therefor.

  • Stock Fully Paid; Reservation of Shares All Shares that may be issued upon the exercise of the rights represented by this Warrant will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issue thereof. During the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of the issue upon exercise of the purchase rights evidenced by this Warrant, a sufficient number of shares of its Common Stock to provide for the exercise of the rights represented by this Warrant.