AUTHORISED CAPITAL Clause Samples
The 'Authorised Capital' clause defines the maximum amount of share capital that a company is legally permitted to issue to shareholders as specified in its constitutional documents. In practice, this clause sets an upper limit on the number and value of shares the company can allot, and any increase to this limit typically requires shareholder approval and compliance with regulatory procedures. Its core function is to provide a clear framework for the company's capital structure, ensuring transparency and control over the issuance of new shares, and protecting existing shareholders from unexpected dilution.
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AUTHORISED CAPITAL. The authorised capital of the Corporation shall be one hundred million dollars. The authorised capital shall be divided into shares of one thousand dollars each, the initial issue of which shall be available for subscription only by Member Countries in accordance with the provisions of Article 7 of this Agreement.
AUTHORISED CAPITAL. The authorised capital of the Amalgamated Company shall be BD$140,000,000, divided into 140,000,000 shares of par value BD$1.00 per share.
AUTHORISED CAPITAL. The authorised capital of the Corporation shall be fifty million dollars in the currency of Trinidad and Tobago. The authorised capital shall be divided into shares of one hundred dollars each in the said currency, which shall be available for subscription only by Member Countries in accordance with the provisions of Article 6.
AUTHORISED CAPITAL. The authorised capital of the Company at the date of this agreement is $500,000,000 divided into 500,000,000 ordinary shares of $1.00 each.
AUTHORISED CAPITAL. The parties agree that the authorised share capital of the Company shall on incorporation be S$1,000,000,000 divided into 1,000,000,000 ordinary shares of S$1 each.
AUTHORISED CAPITAL. On the Effective Date:
(a) the 2 ordinary shares of $1.00 each presently on issue, as referred to in Recital D, shall be re-classified as "B" Shares; and
(b) the authorised capital of the Company shall be increased to $2,000,000 divided into 2,000,000 ordinary shares of $ 1. 00 each comprising 1,000,000 "A" Shares and 1,000,000 "B" Shares.
AUTHORISED CAPITAL. The Company shall at all relevant times keep set aside out of its authorised capital such number of ordinary shares as would be necessary to satisfy the right to exercise options conferred under the Agreement on BTI, Castella and Secure. The Company shall not cause, procure or permit to be done anything would have the effect of reducing the number of ordinary shares so set aside below the number necessary for the said purpose.
AUTHORISED CAPITAL. Subject to Clause 4.4:-
4.1.1 the authorised share capital of NSMH shall be RM5,000,000.00 (Ringgit Five Million) divided into divided into 2,500,000 (Two Million and Five Hundred Thousand) NSMH Shares and 2,500,000 (Two Million and Five Hundred Thousand) ICPS; and
4.1.2 the authorised share capital of NSMY shall be RM5,000,000.00 (Ringgit Five Million) divided into divided into 5,000,000 (Five Million) NSMY Shares.
AUTHORISED CAPITAL. 6.1 The authorised capital, excluding the share capital, is set at sixty million United States dollars (USD 60,000,000), consisting of six billion (6,000,000,000) Shares, each having a nominal value of one cent (USD 0.01). During a period of five (5) years from the date of incorporation or any subsequent resolutions to create, renew or increase the authorised capital pursuant to this article, the board of directors is hereby authorised and empowered within the limits of the authorised capital to (i) realise for any reason whatsoever including, any issue in one or several successive tranches of (a) any subscription and/or conversion rights, including warrants (which may be issued separately or attached to Shares, bonds, options, notes or similar instruments), convertible bonds, notes or similar instruments (the “Share Rights”) as well as (b) new Shares, with or without share premium, against payment in cash or in kind, by conversion of claims on the Company, by way of conversion of available reserves or in any other manner; (ii) determine the place and date of the issue or the successive issues, the issue price, the terms and conditions of the subscription of and paying up on the new Shares; (iii) remove or limit the preferential subscription right of the shareholders in case of issue against payment in cash of Shares, warrants (which may be separate or attached to Shares, bonds, notes or similar instruments), convertible bonds, notes or similar instruments, and (iv) confirm by way of a notarial deed within the legal deadline each and any share capital increase effectuated within the limits of the authorised capital and to amend Article 5.1 and Article
AUTHORISED CAPITAL any alteration to the authorised share capital of any member of the Company Group;