Common use of Reservation and Availability of Preferred Stock Clause in Contracts

Reservation and Availability of Preferred Stock. (a) The Company shall cause to be reserved and kept available out of its authorized and unissued Preferred Stock or any authorized and issued Preferred Stock held in its treasury, a number of shares of Preferred Stock that will be sufficient to permit the exercise in full of all outstanding and exercisable Rights. Upon the occurrence of any event resulting in an increase in the aggregate number of shares of Preferred Stock issuable upon exercise of all outstanding Rights in excess of the number then reserved, the Company shall make appropriate increases in the number of shares of Preferred Stock so reserved.

Appears in 3 contracts

Samples: Shareholder Rights Agreement (Thornburg Mortgage Inc), Stockholder Rights Agreement (Captec Net Lease Realty Inc), Shareholder Rights Agreement (Thornburg Mortgage Inc)

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Reservation and Availability of Preferred Stock. (a) 9.1 The Company shall will cause to be reserved and kept available out of its authorized and unissued shares of Preferred Stock or any authorized and issued shares of Preferred Stock held in its treasury, a the number of shares of Preferred Stock that will be sufficient to permit the exercise in full of all outstanding and exercisable Rights. Upon the occurrence of any event events resulting in an increase in the aggregate number of shares of Preferred Stock issuable upon the exercise of all outstanding Rights in excess of the number then reserved, the Company shall make appropriate increases in the number of shares of Preferred Stock so reserved.

Appears in 2 contracts

Samples: Stockholders’ Rights Agreement (Great Elm Capital Group, Inc.), Stockholders’ Rights Agreement (Great Elm Group, Inc.)

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