Shares to be Issued; Reservation of Shares Clause Samples
The "Shares to be Issued; Reservation of Shares" clause defines the company's obligation to issue a specific number of shares to certain parties and to reserve an adequate number of authorized but unissued shares for this purpose. In practice, this means the company must ensure that its capitalization table reflects enough available shares to fulfill commitments under agreements such as stock option plans, convertible notes, or investment rounds. This clause is essential for preventing over-issuance and ensuring that all parties entitled to shares can receive them without legal or logistical obstacles, thereby providing certainty and transparency regarding the company's share structure.
Shares to be Issued; Reservation of Shares. The Company covenants that the Shares that may be issued upon the exercise of the purchase rights represented by this Warrant will, upon issuance in accordance herewith, be fully paid and non-assessable, and free from all liens and charges with respect to the issue thereof. During the period within which the purchase rights represented by the Warrant may be exercised, the Company will at all times have authorized and reserved, for the purpose of issuance upon exercise of the purchase rights represented by this Warrant, a sufficient number of shares of its Common Stock to provide for the exercise of the right represented by this Warrant.
Shares to be Issued; Reservation of Shares. The Company covenants and agrees that all Warrant Shares will, upon issuance, be duly authorized, validly issued and outstanding, fully paid and non-assessable, and free from all taxes, liens and charges with respect to the issuance thereof, except as otherwise provided in the Plan. The Company further covenants and agrees that it will from time to time take all actions required to assure that the par value per share of the New Common Stock is at all times equal to or less than the effective Exercise Price. The Company further covenants and agrees that, during the Exercise Period, the Company will at all times have authorized and reserved sufficient shares of New Common Stock to provide for the exercise of this Warrant in full.
Shares to be Issued; Reservation of Shares. The Company covenants and agrees that all Option Shares will, upon issuance, be duly authorized, validly issued and outstanding, fully paid and non-assessable, and free from all taxes, liens and charges with respect to the issuance thereof, except as otherwise CLCORP01 Doc:229875_4 provided in the Option Purchase Agreement. The Company further covenants and agrees that it will from time to time take all actions required to assure that the par value per share of the Common Stock is at all times equal to or less than the effective Exercise Price. The Company further covenants and agrees that, during the Exercise Period, the Company will at all times have authorized and reserved sufficient shares of Common Stock to provide for the exercise of this Option in full.
Shares to be Issued; Reservation of Shares. The Maker covenants that the Shares issuable upon the conversion of this Note will, upon issuance in accordance herewith, be fully paid and non-assessable, and free from all liens and charges with respect to the issue thereof. During the period within which the conversion rights represented by the Note may be exercised, the Maker will at all times have authorized and reserved, for the purpose of issuance upon exercise of the conversion rights represented by this Note, a sufficient number of shares of its Common Stock to provide for the exercise of the conversion right represented by this Note.
Shares to be Issued; Reservation of Shares. The Company covenants and agrees that all CEI Shares will, upon issuance, be duly authorized, validly issued and outstanding, fully paid and non-assessable, and free from all taxes, liens and charges with respect to the issuance thereof, except as otherwise provided in the Commitment Agreement. The Company further covenants and agrees that it will from time to time take all actions required to assure that the aggregate par value of the Common Stock issuable upon exercise of this CEI is at all times equal to or less than $1610. The Company further covenants and agrees that, during the Exercise Period, the Company will at all times have authorized and reserved sufficient shares of Common Stock to provide for the exercise of this CEI in full.
Shares to be Issued; Reservation of Shares. Stores covenants and agrees that all Warrant Shares will, upon issuance, be duly authorized, validly issued and outstanding, fully paid and non-assessable, and free from all taxes, excluding income or franchise taxes, liens and charges with respect to the issuance thereof. Stores further covenants and agrees that so long as this Warrant remains outstanding, during the Exercise Period (as hereinafter defined), Stores will at all times have authorized and reserved sufficient Common Shares to provide for the exercise of this Warrant in full.
Shares to be Issued; Reservation of Shares. The Company covenants that all Shares that may be issued upon the exercise of the purchase rights represented by this Warrant will, upon issuance, be fully paid and non-assessable, and free from all taxes, liens and charges with respect to the issue thereof. During the period within which the purchase rights represented by this Warrant may be exercised, the Company will at all times have authorized and reserved, for the purpose of issuance upon exercise of the purchase rights represented by this Warrant, a sufficient number of shares of its Capital Stock to provide for the exercise of the rights represented by this Warrant. The Company represents to the Holder that John ▇▇▇▇▇▇▇ ▇▇▇ consented to the issuance of this Warrant and the Shares issuable upon exercise of this Warrant and has waived any right of first offer, first refusal or preemption that he might have pursuant to that certain Shareholders' Agreement dated September 20, 1995 among the shareholder of the Company (the "Shareholders' Agreement").
Shares to be Issued; Reservation of Shares. The Company covenants that the Shares that may be issued upon the exercise of the purchase rights represented by this Warrant will, upon issuance, be fully paid and non-assessable, and free from all liens and charges with respect to the issue
Shares to be Issued; Reservation of Shares. The Company covenants and agrees that (a) all of the securities issuable upon the exercise of the Warrants in accordance with the terms hereof will, upon issuance in accordance with the terms hereof and payment of the Exercise Price therefor, be duly authorized, validly issued and outstanding, fully paid and non-assessable, and free from all taxes, liens and charges with respect to the issuance thereof and (b) the Company will cause during the Exercise Period, there to be authorized and reserved a sufficient number of securities to provide for the exercise of the Warrants in full.
Shares to be Issued; Reservation of Shares. The Company covenants that all Shares that may be issued upon the exercise of the purchase rights represented by this Warrant will, upon issuance, be fully paid and non-assessable, and free from all taxes, liens and charges with respect to the issue thereof. During the period within which the purchase rights represented by this Warrant may be exercised, the Company will at all times have authorized and reserved, for the purpose of issuance upon exercise of the purchase rights represented by this Warrant, a sufficient number of shares of its Capital Stock to provide for the exercise of the rights represented by this Warrant. The Company represents to the Holder that all parties whose consent is necessary for the issuance of this Warrant and the Shares issuable upon exercise of this Warrant have so consented and that all parties having any rights of first offer, first refusal or preemption have waived any such rights.