Reserved Amount. Company covenants that during the period while any outstanding balance is owing under the Note or any exercise of the Warrant is available, the Company will reserve from its authorized and unissued Common Stock a number of shares, free from preemptive rights, equal to two (2) times the number of shares that is actually issuable upon full conversion of the Note (based on the Conversion Price of the Notes in effect from time to time) and exercise of the Warrant (the “Reserved Amount”).
Appears in 3 contracts
Sources: Securities Purchase Agreement (Home Bistro, Inc. /NV/), Securities Purchase Agreement (Home Bistro, Inc. /NV/), Securities Purchase Agreement (Home Bistro, Inc. /NV/)