Common use of Common Stock Reserved Clause in Contracts

Common Stock Reserved. The Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the shares of Designated Preferred, such number of shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Designated Preferred, and if at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then-outstanding shares of Designated Preferred, the Corporation shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose.

Appears in 2 contracts

Samples: Preferred Stock Purchase Agreement (Aurora Biosciences Corp), Investors' Rights Agreement (Aurora Biosciences Corp)

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Common Stock Reserved. The Corporation corporation shall at all times reserve and keep available out of its authorized but unissued shares of Common StockCommon, solely for the purpose of effecting the conversion of the shares of Designated PreferredPreferred Stock, such number of shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Designated PreferredPreferred Stock, and if at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then-then outstanding shares of Designated PreferredPreferred Stock, the Corporation corporation shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Vista Medical Technologies Inc)

Common Stock Reserved. The Corporation corporation shall at all times reserve and keep available out of its authorized but unissued shares of Common StockCommon, solely for the purpose of effecting the conversion of the shares of Designated Series A Preferred, such number of shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Designated Series A Preferred, and if at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then-then outstanding shares of Designated Series A Preferred, the Corporation corporation shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Vista Medical Technologies Inc)

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Common Stock Reserved. The Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Common StockCommon, solely for the purpose of effecting the conversion of the shares of Designated PreferredPreferred Stock, such number of shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Designated PreferredPreferred Stock, and if at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then-then outstanding shares of Designated PreferredPreferred Stock, the Corporation shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Vista Medical Technologies Inc)

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