Reservation Requirement. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock such number of shares of Common Stock as shall be necessary for the purpose of effecting the conversion of Debentures, which shares shall be free of preemptive rights, for the purpose of enabling the Company to satisfy any obligation to issue shares of its Common Stock, or other securities, upon conversion of all Debentures pursuant hereto. The Company shall initially reserve a number of shares of Common Stock equal to two times the number of shares necessary to satisfy its obligations on conversion of the Debentures if all such shares were converted on the Issuance Date.
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Sources: Debenture Agreement (Bio Plexus Inc)
Reservation Requirement. The Company shall at all times reserve and keep available out at all times, free of its authorized but unissued shares of Common Stock such preemptive rights the number of shares of Common Stock as shall be necessary for equal to the purpose Conversion Limit (less the number of effecting the shares issued upon conversion of Debentures, which shares shall be free of preemptive rights, ) for the purpose of enabling the Company to satisfy any obligation to issue shares of its Common Stock, or other securities, Stock upon conversion of all of the Debentures pursuant hereto. The Company shall initially reserve a number of shares of Common Stock equal to two times the number of shares necessary to satisfy its obligations on conversion of the Debentures if all such shares were converted on the Issuance Date.
Appears in 1 contract
Sources: Convertible Debenture (American Biogenetic Sciences Inc)
Reservation Requirement. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock such number of shares of Common Stock as shall be necessary for the purpose of effecting the conversion of Debentures, which shares shall be free of preemptive rights, for the purpose of enabling the Company to satisfy any obligation to issue shares of its Common Stock, or other securities, upon conversion of all Debentures pursuant hereto. The Company shall initially reserve a number of shares of Common Stock equal to two times the number of shares necessary to satisfy its obligations on conversion of the Debentures if all such shares were converted on the Issuance Date.of
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