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 shares of common stock, solely for the purpose of effecting the exercise of this Warrant, such number of its shares of common stock as shall from time to time be sufficient to effect the exercise of this Warrant; and if at any time the number of authorized but unissued shares of common stock shall not be sufficient to effect the exercise of this Warrant, the Company will take all appropriate corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of common stock to such number of shares as shall be sufficient for such purpose.

Appears in 27 contracts

Samples: Security Agreement (Itec Environmental Group Inc), Security Agreement (Itec Environmental Group Inc), Security Agreement (Itec Environmental Group Inc)

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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 shares of common stockCommon Stock, solely for the purpose of effecting the exercise of this Warrant, such number of its shares of common stock Common Stock as shall from time to time be sufficient to effect the exercise of this Warrant; and if at any time the number of authorized but unissued shares of common stock Common Stock shall not be sufficient to effect the exercise of this Warrant, the Company will take all appropriate corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of common stock Common Stock to such number of shares as shall be sufficient for such purpose.

Appears in 19 contracts

Samples: Convertible Note and Warrant Purchase Agreement (Eco2 Plastics Inc), Security Agreement (Eco2 Plastics Inc), Legend Oil & Gas, Ltd.

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of common stockCommon Stock, solely for the purpose of effecting the exercise of this Warrant, such number of its shares of common stock Common Stock as shall from time to time be sufficient to effect the exercise of this Warrant; and if at any time the number of authorized but unissued shares of common stock Common Stock shall not be sufficient to effect the exercise of this Warrant, the Company will take all appropriate such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of common stock Common Stock to such number of shares as shall be sufficient for such purpose.

Appears in 4 contracts

Samples: Shareholders' Agreement (Sonus Communication Holdings Inc), Sonus Communication Holdings Inc, Sonus Communication Holdings Inc

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of common stockCommon Stock, solely for the purpose of effecting the exercise conversion of this Warrantthe Convertible Note, such number of its shares of common stock Common Stock as shall from time to time be sufficient to effect the exercise conversion of this Warrant; and if the Convertible Note. If at any time the number of authorized but unissued shares of common stock Common Stock shall not be sufficient to effect the exercise conversion of this Warrantthe Convertible Note, the Company will take all appropriate such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of common stock Common Stock to such number of shares as shall be sufficient for such purpose.

Appears in 1 contract

Samples: Stockholders Agreement (Singer Brad C)

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Reservation of Stock Issuable Upon Conversion. The Company Borrower shall at all times reserve and keep available out of its authorized but unissued shares of common stock, solely for the purpose of effecting the exercise of this Warrant, such number of its Common Stock sufficient shares of common stock as shall from time to time be sufficient to effect the exercise conversion of this Warrant; Note into the Conversion Shares and if at any time the number of authorized but unissued shares of common stock Common Stock shall not be sufficient to effect the exercise conversion of this WarrantNote in full, then, without limitation of such other remedies as shall be available to the Holder of this Note, the Company will Borrower shall take all appropriate such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of common stock Common Stock to such number of shares as shall be sufficient for such purposepurposes.

Appears in 1 contract

Samples: Agreement for Purchase and Sale (Booth Creek Ski Holdings Inc)

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