Issue of Common Shares Clause Samples
The 'Issue of Common Shares' clause defines the terms and conditions under which a company may create and distribute new common shares to investors or existing shareholders. Typically, this clause outlines the process for authorizing new shares, the pricing mechanism, and any preemptive rights that may apply to current shareholders, such as the right to purchase additional shares before they are offered to outsiders. Its core practical function is to provide a clear framework for expanding the company's equity base while protecting the interests of existing shareholders and ensuring compliance with corporate governance requirements.
Issue of Common Shares. Upon receipt of a Rights Certificate, together with a completed Election to Exercise executed in accordance with Subsection 2.2(d)(ii) which does not indicate that such Right is null and void as provided by Subsection 3.1(b), and payment as set forth in Section 2.2(d)(iii), the Rights Agent (unless otherwise instructed by the Corporation in the event that the Corporation is of the opinion that the Rights cannot be exercised in accordance with this Agreement) will thereupon promptly:
(i) requisition from the transfer agent certificates representing the number of Common Shares to be purchased (the Corporation hereby irrevocably authorizing its transfer agent to comply with all such requisitions);
(ii) when appropriate, requisition from the Corporation the amount of cash to be paid in lieu of issuing fractional Common Shares;
(iii) after receipt of the certificates referred to in Section 2.2(e)(i), deliver the same to or upon the order of the registered holder of such Rights Certificates, registered in such name or names as may be designated by such holder; and
(iv) when appropriate, after receipt, deliver the cash referred to in clause 2.2(e)(ii) to or to the order of the registered holder of such Rights Certificate.
Issue of Common Shares. The Company understands and acknowledges that the number of Common Shares issuable to the Investor hereunder will increase in certain circumstances. The Company further acknowledges its obligation to issue the Common Shares in accordance with the terms herein is absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership interests of other stockholders of the Company.
Issue of Common Shares. The Company will have on each Subscription Day and corresponding Closing Date, an adequate reserve of authorised but unissued Common Shares to enable it to allot and issue the number of Common Shares equal to the Subscription Amount set forth in the relevant Placement Notice and if applicable, the number of the Underlying Common Shares issuable pursuant to the exercise of Warrants issued in connection with the relevant Placement Notice. When issued pursuant to this Agreement, the Securities shall be free of any Liens, duly authorised, validly issued, fully paid and non- assessable, and application shall be made forthwith for such Common Shares and if applicable, Underlying Common Shares, to be Listed.
Issue of Common Shares. Common Shares shall only be issued on the basis of one Common Share per Person to Persons who:
(a) express in writing to the Shareholder’s Board their intention to become Shareholders;
(b) demonstrate to the Shareholder’s Board that they have satisfied the Eligibility Criteria for Shareholders;
(c) execute and deliver this Agreement or a written counterpart to this Agreement;
(d) execute and deliver the CNA Services Agreement, or undertake in writing to execute and deliver the form of such CNA Services Agreement from time to time approved by the Corporation in accordance with Section 3.9(c)(vi) and the Prime Vendor;
(e) pay to the Corporation the subscription price of $10.00 for each Common Share; and
(f) pay to the Corporation the amount of $5,000.00 which shall be a Non- Recoverable Shareholder Contribution by such person to the Corporation.
(g) Upon issuance of a Common Share to a Person in compliance with this Section 6.2, such Person shall be deemed to be a Shareholder for all purposes under this Agreement.
Issue of Common Shares. The Corporation will cause the Common Shares to be issued pursuant to the conversion of the Subscription Receipts and the certificates representing such Common Shares to be issued and delivered in accordance with the provisions of this Agreement and the terms hereof and all Common Shares that are issued on the conversion of the Subscription Receipts will be fully paid and non-assessable securities.
Issue of Common Shares. The Company will have on each Subscription Day and corresponding Drawdown Date, an adequate reserve of authorised but unissued Common Shares to enable it to allot and issue the number of Common Shares equal to the Subscription Number set forth in the relevant Equity Drawdown Notice or number of Common Shares subscribed for pursuant to an Acceptance Notice, as applicable, and for the Warrant Shares issuable pursuant to any outstanding or issuable Warrants. When issued pursuant to this Agreement, the Securities shall be free of any Liens, duly authorised, validly issued, fully paid and non- assessable, and application shall be made forthwith for such Common Shares and if applicable, Warrant Shares, to be Listed.
Issue of Common Shares. Subject to section 4.4 hereof, the Corporation shall issue Common Shares upon the exercise of Warrants in accordance with the provisions hereof.
Issue of Common Shares. The Parent will authorize the issuance of an aggregate of seven hundred fifty thousand (750,000) shares (the "COMMON SHARES") of its Common Stock. The rights and obligations of holders of Common Stock shall be governed by the Charter, which is in the form of Exhibit 1.1(b), and by applicable law.
Issue of Common Shares. Upon the exercise of the rights conferred upon Warrantholders to exercise their Special Warrants for Common Shares and provided that the provisions of Sections 4.01, 4.02 and 4.04 are complied with, the Company shall issue that number of Common Shares from its unissued share capital as are issuable pursuant to such exercise of Special Warrants. At all times prior to such exercise, the Company shall have reserved and allotted for issuance that number of Common Shares issuable upon exercise of the Special Warrants.
Issue of Common Shares. The Corporation shall issue to ERS 1,000 Telepanel Common Shares in consideration of the delivery by ERS to the Corporation of a number of shares of ERS Common Stock equal to the number of Exchangeable Shares exchangeable for 1,000 Telepanel Common Shares in the Arrangement. The amount added to the stated capital account maintained for the Telepanel Common Shares with respect to the Telepanel Common Shares issued pursuant to this Section 2.4 shall be equal to the product obtained when the Current Market Price on the Effective Date is multiplied by the number of shares of ERS Common Stock delivered as aforesaid.