Common use of Reservation Default Clause in Contracts

Reservation Default. Failure by the Borrower to have reserved for issuance upon conversion of the Note a sufficient number of shares of Common Stock to permit the Holder to fully convert this Note.

Appears in 1 contract

Sources: Convertible Note (BioMETRX)

Reservation Default. Failure Subject to Section 2.4 hereof , failure by the Borrower to have reserved for issuance upon conversion of the Note a sufficient number of shares the amount of Common Stock to permit the Holder to fully convert as set forth in this Note.

Appears in 1 contract

Sources: Convertible Note (Omnimmune Holdings, Inc.)

Reservation Default. Failure by the Borrower to have reserved for issuance upon conversion of this Note the Note a sufficient number of shares amount of Common Stock to permit the Holder to fully convert stock as set forth in this Note.;

Appears in 1 contract

Sources: Convertible Promissory Note (Red Giant Entertainment, Inc.)