Common use of STOCK TO BE RESERVED Clause in Contracts

STOCK TO BE RESERVED. Aurora will at all times reserve and keep available out of its authorized Common Stock or its treasury shares, solely for the purpose of issue upon the exercise of this Warrant as herein provided, such number of shares of Common Stock as shall then be issuable upon the exercise of this Warrant. Aurora covenants that all shares of Common Stock which shall be so issued shall be duly and validly issued and fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof, and, without limited the generality of the foregoing, Aurora covenants that it will from time to time take all such action as may be requisite to assure that the par value per share of the Common Stock is at all times equal to or less than the effective Exercise Price. Aurora will take all such action as may be necessary and within its control to assure that all such shares of Common Stock may be so issued without violation of any applicable law or regulation, or of any requirements of any national securities exchange upon which the Common Stock of Aurora may be listed. Aurora will not take any action which results in any adjustment of the Exercise price if the total number of shares of Common Stock issued and issuable after such action upon exercise of this Warrant would exceed the total number of shares of Common Stock then authorized by Aurora's Articles of Incorporation. Aurora has not granted and will not grant any right of first refusal with respect to shares issuable upon exercise of this Warrant, and there are no preemptive rights associated with such shares.

Appears in 4 contracts

Samples: Aurora Electronics Inc, Aurora Electronics Inc, Aurora Electronics Inc

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STOCK TO BE RESERVED. Aurora The Corporation will at all times reserve and keep available out of its authorized Common Stock or its treasury shares, solely for the purpose of issue upon the exercise of this Warrant as herein provided, such number of shares of Common Stock as shall then be issuable upon the exercise of this Warrant. Aurora The Corporation covenants that all shares of Common Stock which shall be so issued shall be duly and validly issued and fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof, and, without limited limiting the generality of the foregoing, Aurora the Corporation covenants that it will from time to time take all such action as may be requisite to assure that the par value per share of the Common Stock is at all times equal to or less than the effective Warrant Exercise Price. Aurora The Corporation will take all such action as may be necessary and within its control to assure that all such shares of Common Stock may be so issued without violation of any applicable law or regulation, or of any requirements of any national securities exchange upon which the Common Stock of Aurora the Corporation may be listed. Aurora The Corporation will not take any action which results in any adjustment of the Warrant Exercise price Price if the total number of shares of Common Stock issued and issuable after such action upon exercise of this Warrant would exceed the total number of shares of Common Stock then authorized by Aurorathe Corporation's Articles of Incorporation. Aurora The Corporation has not granted and will not grant any right of first refusal with respect to shares issuable upon exercise of this Warrant, and there are no preemptive rights associated with such shares.

Appears in 3 contracts

Samples: Agreement (Med E America Corp), Agreement (Med E America Corp), Agreement (Med E America Corp)

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STOCK TO BE RESERVED. Aurora The Corporation will at all times reserve and keep available out of its authorized Common Stock or its treasury shares, solely for the purpose of issue upon the exercise of this Warrant as herein provided, such number of shares of Common Stock as shall then be issuable upon the exercise of this Warrant. Aurora The Corporation covenants that all shares of Common Stock which shall be so issued shall be duly and validly issued and fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof, and, without limited limiting the generality of the foregoing, Aurora the Corporation covenants that it will from time to time take all such action as may be requisite to assure that the par value per share of the Common Stock is at all times equal to or less than the effective Exercise Warrant Price. Aurora The Corporation will take all such action as may be necessary and within its control to assure that all such shares of Common Stock may be so issued without violation of any applicable law or regulation, or of any requirements of any national securities exchange upon which the Common Stock of Aurora the Corporation may be listed. Aurora The Corporation will not take any action which results in any adjustment of the Exercise price Warrant Price if the total number of shares of Common Stock issued and issuable after such action upon exercise of this Warrant would exceed the total number of shares of Common Stock then authorized by Aurorathe Corporation's Articles of Incorporation. Aurora The Corporation has not granted and will not grant any right of first refusal with respect to shares issuable upon exercise of this Warrant, and there are no preemptive rights associated with such shares.

Appears in 2 contracts

Samples: Note and Warrant Purchase Agreement (Furman Selz Sbic L P), Subscription Agreement (Furman Selz Sbic L P)

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