Common use of Reservation of Stock Issuable Upon Conversion Clause in Contracts

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Shares, solely for the purpose of effecting the conversion of Preference Shares, such number of Ordinary Shares as shall from time to time be sufficient to effect the conversion of all outstanding Preference Shares, and if at any time the number of authorized but unissued Ordinary Shares shall not be sufficient to effect the conversion of all then outstanding Preference Shares, the Shareholders will take such corporate action as may be necessary to increase the authorized but unissued Ordinary Shares to such number as shall be sufficient for such purpose, including, without limitation, approving of any necessary amendment to its Memorandum or Articles of Association.

Appears in 2 contracts

Samples: Shareholders Agreement, Shareholders’ Agreement (Noah Education Holdings Ltd.)

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Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Common Shares, solely for the purpose of effecting the conversion of Preference Shares, this Convertible Note such number of Ordinary its Common Shares as shall from time to time be sufficient to effect the conversion of all outstanding Preference Shares, this Convertible Note; and if at any time the number of authorized but unissued Ordinary Common Shares shall not be sufficient to effect the conversion of all then outstanding Preference Shares, this Convertible Note the Shareholders Company will take such corporate action as may be necessary to increase the its authorized but unissued Ordinary Common Shares to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of any necessary amendment to its Memorandum or Articles of Association.

Appears in 2 contracts

Samples: Investment Agreement (Westport Innovations Inc), Investment Agreement (Westport Innovations Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Sharesshares of Common Stock, solely for the purpose of effecting the conversion of Preference Sharesthe Notes, such number of Ordinary Shares shares of its Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Preference Shares, Notes; and if at any time the number of authorized but by unissued Ordinary Shares shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Preference SharesNotes, the Shareholders Company will take such corporate action as may may, in the opinion of its counsel, be necessary to increase the its authorized but unissued Ordinary Shares shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to its Memorandum or Articles of Associationthis Agreement.

Appears in 2 contracts

Samples: Convertible Note Purchase Agreement (American Water Star Inc), Convertible Note Purchase Agreement (American Water Star Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Shares, solely for the purpose of effecting the conversion of Preference Shares, such number of Ordinary Shares as shall from time to time be sufficient to effect the conversion of all outstanding Preference Shares, and if at any time the number of authorized but unissued Ordinary Shares shall not be sufficient to effect the conversion of all then outstanding Preference Shares, the Shareholders Company will take such corporate action as may be necessary to increase the its authorized but unissued Ordinary Shares to such number as shall be sufficient for such purpose, including, without limitation, approving engaging in best efforts to obtain the requisite Shareholders’ approval of any necessary amendment to its Memorandum or Articles of Association.

Appears in 1 contract

Samples: Shareholders’ Agreement (Noah Education Holdings Ltd.)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Sharesshares of common stock, solely for the purpose of effecting the conversion of Preference Sharesthe Notes, such number of Ordinary Shares its shares of common stock as shall from time to time be sufficient to effect the conversion of all then outstanding Preference Shares, Notes; and if at any time the number of authorized but unissued Ordinary Shares shares of common stock shall not be sufficient to effect the conversion of all then outstanding Preference SharesNotes, the Shareholders Company will immediately take such corporate action as may be necessary to increase the its authorized but unissued Ordinary Shares shares of common stock to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of any necessary amendment to its Memorandum or Articles of Association.

Appears in 1 contract

Samples: Agreement (Doral Energy Corp.)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Shares, shares of Common Stock solely for the purpose of effecting the conversion of Preference Shares, this Note such number of Ordinary Shares its shares of Common Stock as shall from time to time be sufficient to effect the conversion in full of all outstanding Preference Shares, this Note; and if at any time the number of authorized but unissued Ordinary Shares shares of Common Stock shall not be sufficient to effect the conversion in full of all then outstanding Preference Sharesthis Note, the Shareholders Company will take such corporate action as may may, in the opinion of its counsel, be necessary to increase the its authorized but unissued Ordinary Shares shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of any necessary amendment to its Memorandum or Articles of Association.

Appears in 1 contract

Samples: Stock for Assets Agreement (Ciralight Global, Inc.)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Sharesshares of Common Stock, solely for the purpose of effecting the conversion of Preference Sharesthe Notes, such number of Ordinary Shares its shares of Common Stock as shall from time to time be sufficient to effect the conversion of all then outstanding Preference Shares, Notes; and if at any time the number of authorized but unissued Ordinary Shares shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Preference SharesNotes, the Shareholders Company will immediately take such corporate action as may be necessary to increase the its authorized but unissued Ordinary Shares shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of any necessary amendment to its Memorandum or Articles of Association.

Appears in 1 contract

Samples: Agreement (Cool Can Technologies Inc/Ca)

Reservation of Stock Issuable Upon Conversion. The Company Corporation shall at all times reserve and keep available out of its authorized but unissued Ordinary Sharesshares of Common Stock, solely for the purpose of effecting the conversion of Preference Sharesthe Notes, such number of Ordinary Shares shares of its Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Preference Shares, Notes; and if at any time the number of authorized but by unissued Ordinary Shares shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Preference SharesNotes, the Shareholders Corporation will take such corporate action as may may, in the opinion of its counsel, be necessary to increase the its authorized but unissued Ordinary Shares shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to its Memorandum or Articles of Association.this Agreement. 9.10

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (American Water Star Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Common Shares, solely for the purpose of effecting the conversion of Preference Sharesthis Note and the other Secured Notes, such number of Ordinary its Common Shares as shall from time to time be sufficient to effect the conversion of this Note and all outstanding Preference Shares, other Secured Notes; and if at any time the number of authorized but unissued Ordinary Common Shares shall not be sufficient to effect the conversion of this Note and all then outstanding Preference Sharesother Secured Notes, the Shareholders Company will take such corporate action as may may, in the opinion of its counsel, be necessary to increase the its authorized but unissued Ordinary Common Shares to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of any necessary amendment to its Memorandum or Articles of Association.

Appears in 1 contract

Samples: Securities Purchase Agreement (Distributed Energy Systems Corp)

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Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Shares, shares of Common Stock solely for the purpose of effecting the conversion of Preference Shares, this Note such number of Ordinary Shares its shares of Common Stock as shall from time to time be sufficient to effect the conversion in full of all outstanding Preference Shares, this Note; and if at any time the number of authorized but unissued Ordinary Shares shares of Common Stock shall not be sufficient to effect the conversion in full of all then outstanding Preference Sharesthis Note, the Shareholders Company will take such corporate action as may shall, in the opinion of its counsel, be necessary to increase the its authorized but unissued Ordinary Shares shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of any necessary amendment to its Memorandum or Articles of Association.

Appears in 1 contract

Samples: Note Purchase Agreement (HeartBeam, Inc.)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Shares, shares of Common Stock solely for the purpose of effecting the conversion of Preference Shares, this Debenture such number of Ordinary Shares its shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Preference Shares, this Debenture; and if at any time the number of authorized but unissued Ordinary Shares shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Preference Sharessuch conversion, the Shareholders will Company shall take such corporate action as may may, in the opinion of its counsel, be necessary to increase the its authorized but unissued Ordinary Shares shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of any necessary amendment to its Memorandum or Articles of Association.

Appears in 1 contract

Samples: Subordinated Convertible Debenture Purchase Agreement (Transcend Services Inc)

Reservation of Stock Issuable Upon Conversion. The Company Corporation shall at all times reserve and keep available out of its authorized but unissued Ordinary Sharesshares of Common Stock, solely for the purpose of effecting the conversion of Preference Sharesthe Notes, such number of Ordinary Shares shares of its Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Preference Shares, Notes; and if at any time the number of authorized but by unissued Ordinary Shares shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Preference SharesNotes, the Shareholders Corporation will take such corporate action as may may, in the opinion of its counsel, be necessary to increase the its authorized but unissued Ordinary Shares shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to its Memorandum or Articles of Associationthis Agreement.

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (American Water Star Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Sharesshares of Common Stock, solely for the purpose of effecting the conversion of Preference Sharesthis Note, such number of Ordinary Shares its shares of Common Stock as shall from time to time be sufficient to effect the conversion in full of all outstanding Preference Shares, this Note; and if at any time the number of authorized but unissued Ordinary Shares shares of Common Stock shall not be sufficient to effect the conversion in full of all then outstanding Preference Sharesthis Note, the Shareholders Company will take such corporate action as may may, in the opinion of its counsel, be necessary to increase the its authorized but unissued Ordinary Shares shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, approving of any necessary amendment to its Memorandum or Articles of Association.

Appears in 1 contract

Samples: Agreement (Sunrise Technologies International Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Common Shares, solely for the purpose of effecting affecting the conversion of Preference Sharesthe Notes, such number of Ordinary its Common Shares as shall from time to time be sufficient to effect the conversion of all outstanding Preference SharesNotes, and if at any time the number of authorized but unissued Ordinary Common Shares shall not be sufficient to effect the conversion of all the then outstanding Preference SharesNotes, the Shareholders Company will take such corporate action as may may, in the opinion of its counsel, be necessary to increase the its authorized but unissued Ordinary Common Shares to such number of shares as shall be sufficient for such purpose, including, including without limitation, approving of any necessary amendment limitation engaging in best efforts to its Memorandum or Articles of Associationobtain the requisite shareholder approval.

Appears in 1 contract

Samples: Subordinated Convertible Note Purchase Agreement (Mansur Industries Inc)

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