Initial Preferred Shares definition

Initial Preferred Shares shall have the meaning attributable to it in Section 1.01 of this Agreement.

Initial Preferred Shares has the meaning assigned to that term in Section 2.1(a).

Initial Preferred Shares means 13,000 shares of the Series B Preferred Stock.

Examples of Initial Preferred Shares in a sentence

• The Company shall take all action necessary to at all times have authorized, and reserved for the purpose of issuance, no less than 110% of the number of shares of Common Stock needed to provide for the issuance of the shares of Common Stock upon conversion of all outstanding Initial Preferred Shares (without regard to any limitations on conversions).

• All corporate and other action and governmental filings necessary to effectuate the terms of this Agreement, the Initial Preferred Shares and other agreements and instruments executed and delivered by the Company in connection herewith shall have been made or taken, except for any post-sale filing that may be required under federal or state securities laws.

• Upon completion and satisfaction of all of the terms hereof and the Other Agreements, the Escrow Agent shall deliver the Initial Preferred Shares to the Purchaser free and clear of all liens and encumbrances other than the legend required by the Securities Act.

• At the Initial Closing, the Company will issue and deliver certificates evidencing the Initial Preferred Shares to be sold at such Initial Closing to each of the Purchasers (or its nominee) against payment of the full purchase price therefor by wire transfer or check payable to the order of the Company.

• The Sellers have the complete and unrestricted right, power and authority to cause the sale, transfer, and assignment of the Initial Common Shares and the Initial Preferred Shares pursuant to this Agreement.

More Definitions of Initial Preferred Shares

Initial Preferred Shares means the Initial Preferred Shares as defined in the recitals hereof.

Initial Preferred Shares means the Initial Series B Preferred Share or the Initial Series C Preferred Shares, or any of them.

Initial Preferred Shares has the meaning ascribed thereto in Section 3.1(5);

Initial Preferred Shares means, all Preferred shares issued on the Initial Issuance Date.

Initial Preferred Shares means the shares of Series D Preferred Stock issued on the Initial Issue Date.

Initial Preferred Shares means, with respect to the Initial Equity Contribution, the closest whole number of duly authorized, validly issued, fully paid and non-assessable shares of Preferred Stock calculated by dividing the amount of the Initial Equity Contribution by the Preferred Stock Price on the Effective Date.

Initial Preferred Shares means any shares of Series B Preferred Stock issued on the date of the first issuance of any shares of Series B Preferred Stock.