Common use of Reserved Amount Clause in Contracts

Reserved Amount. On the Closing Date, the Corporation shall have reserved 3,000,000 shares (200% of number of shares which would be issuable if all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement are exercised in their entirety on the Closing Date) of the authorized but unissued shares of Common Stock for issuance upon the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement (the "Reserved Amount") and thereafter the number of authorized but unissued shares of Common Stock so reserved shall not be decreased and shall at all times be sufficient to provide for the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement at the then current Exercise Price. The Reserved Amount shall be allocated to the holders of Prepaid Warrants as provided in Article IX.

Appears in 1 contract

Samples: Securities Purchase Agreement (Netplex Group Inc)

AutoNDA by SimpleDocs

Reserved Amount. On the Closing Date, the Corporation shall have reserved 3,000,000 3,500,000 shares (200% of number of shares which would be issuable if all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement are exercised in their entirety on the Closing Date) of the authorized but unissued shares of Common Stock for issuance upon the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement (the "Reserved AmountRESERVED AMOUNT") and thereafter the number of authorized but unissued shares of Common Stock so reserved shall not be decreased and shall at all times be sufficient to provide for the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement at the then current Exercise Price. The Reserved Amount shall be allocated to the holders of Prepaid Warrants as provided in Article IX.Prepaid

Appears in 1 contract

Samples: Securities Purchase Agreement (Fastcomm Communications Corp)

Reserved Amount. On the Closing Date, the Corporation shall have reserved 3,000,000 3,190,000 shares (200% of number of shares which would be issuable if all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement are exercised in their entirety on the Closing Date) of the authorized but unissued shares of Common Stock for issuance upon the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement (the "Reserved AmountRESERVED AMOUNT") and thereafter the number of authorized but unissued shares of Common Stock so reserved shall not be decreased and shall at all times be sufficient to provide for the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement at the then current Exercise Price. The Reserved Amount shall be allocated to the holders of Prepaid Warrants as provided in Article IX.

Appears in 1 contract

Samples: Fastcomm Communications Corp

AutoNDA by SimpleDocs

Reserved Amount. On the Second Closing Date, the Corporation shall have reserved 3,000,000 300,000 shares (200% of number of shares which would be issuable if all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement are exercised in their entirety on the Second Closing Date) of the authorized but unissued shares of Common Stock for issuance upon the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement (the "Reserved Amount") and thereafter the number of authorized but unissued shares of Common Stock so reserved shall not be decreased and shall at all times be sufficient to provide for the full exercise of all Prepaid Warrants issued or issuable pursuant to the Securities Purchase Agreement at the then current Exercise Price. The Reserved Amount shall be allocated to the holders of Prepaid Warrants as provided in Article IXVIII.

Appears in 1 contract

Samples: Netplex Group Inc

Time is Money Join Law Insider Premium to draft better contracts faster.