Borrower Common Stock definition
Examples of Borrower Common Stock in a sentence
For the avoidance of doubt, all of the shares of Borrower Common Stock issued or issuable upon conversion of the Purchaser’s Note shall not be subject to any lock-up or other prohibitions on transfer other than such transfer restrictions imposed by applicable law (and not by any contract).
As long as Holder's Conversion Rights are in effect, Borrower shall at all times reserve and keep available out of its authorized but unissued Borrower Common Stock, for the purpose of effecting the conversion of this Note, such number of its duly authorized shares of Borrower Common Stock as shall from time to time be sufficient to effect the conversion of this Note.
Borrower covenants that all shares of Borrower Common Stock which may be issued upon conversion of this Note will upon issue be fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof.
Contemporaneously with the execution and delivery of this Agreement, the Purchaser is delivering the Conversion Notice to Borrower pursuant to which the Purchaser is converting the Conversion Amount into Borrower Common Stock.
Borrower shall not be required to issue a fraction of a share or scrip representing fractional shares of Borrower Common Stock upon conversion of this Note.