Stock Authorization Clause Samples

The Stock Authorization clause defines the total number and types of shares a company is permitted to issue, as established in its charter or articles of incorporation. This clause typically specifies the classes of stock, such as common or preferred shares, and sets upper limits on how many shares can be created and distributed to investors or founders. By clearly outlining these parameters, the clause ensures legal compliance and provides transparency to shareholders, preventing unauthorized issuance and helping manage ownership structure.
Stock Authorization. The total number of shares of capital stock that the Corporation shall have the authority to issue is one hundred fifty million (150,000,000) shares, which shall consist of (i) one hundred million (100,000,000) shares of Common Stock, par value ($0.0015) per share (the "Common Stock") and (ii) fifty million (50,000,000) shares of Preferred Stock, par value ($0.01) per share (the "Preferred Stock").
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Stock Authorization. Subject to Schedule 2C and with the exception of any provision of the by-laws of the Purchaser, the Shareholder Agreement or this Agreement to the contrary, the Initial Shares shall be validly authorized and approved for issuance upon Completion, fully paid and non-assessable, free from any and all Encumbrances and issued in compliance with all applicable French Laws. Specifically with respect to the Contingent Shares, such approvals and authorizations shall remain in full force and effect for not less than twenty-six (26) months following the Completion Date
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Related to Stock Authorization

  • Board Authorization Prior to delivering notice of the proposed terms of an Agency Transaction pursuant to Section 1 (or at such time as otherwise agreed between the Company and the Agents), the Company shall have (i) obtained from its board of directors or a duly authorized committee thereof all necessary corporate authority for the sale of the Shares pursuant to the relevant Agency Transaction, and (ii) provided to the Agents a copy of the relevant board or committee resolutions or other authority.

  • Power; Authorization Such Investor has all requisite power and authority to execute and deliver this Agreement. This Agreement, when executed and delivered by such Investor, will constitute a valid and legally binding obligation of such Investor, enforceable in accordance with its respective terms, except as: (a) limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally; and (b) limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

  • Authorization, Etc This Agreement and the Notes have been duly authorized by all necessary corporate action on the part of the Company, and this Agreement constitutes, and upon execution and delivery thereof each Note will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

  • Network Authorization For services that cannot be provided by a network provider, you can request a network authorization to seek services from a non-network provider. With an approved network authorization, the network benefit level will apply to the authorized covered healthcare service. If we approve a network authorization for you to receive services from a non- network provider, our reimbursement will be based on the lesser of our allowance, the non-network provider’s charge, or the benefit limit. For more information, please see the How Non-Network Providers Are Paid section.

  • Overtime Authorization All overtime will be authorized in advance by the