AUTHORISED SHARES Sample Clauses
The 'Authorised Shares' clause defines the maximum number and types of shares that a company is legally permitted to issue according to its constitutional documents. This clause typically specifies the total share capital, the classes of shares (such as ordinary or preference shares), and their respective rights and restrictions. By setting these limits, the clause ensures that the company cannot issue more shares than authorized, thereby protecting existing shareholders from unexpected dilution and maintaining regulatory compliance.
AUTHORISED SHARES. 7.1 The Company is authorised to issue a maximum of 1,000,000,000 shares, divided into (i) 835,675,688 Ordinary Shares of US$0.0001 par value each (the “Ordinary Shares”), (ii) 29,571,587 redeemable Series A-1 Preferred Shares of US$0.0001 par value each (the “Series A-1 Preferred Shares”), (iii) 8,909,090 redeemable Series A-2 Preferred Shares of US$0.0001 par value each (the “Series A-2 Preferred Shares”), (iv) 19,797,980 redeemable Series A-3 Preferred Shares of US$0.0001 par value each (the “Series A-3 Preferred Shares”), (v) 70,037,013 redeemable Series B Preferred Shares of US$0.0001 par value each (the “Series B Preferred Shares”) and (vi) 36,008,642 redeemable Series C Preferred Shares of US$0.0001 par value each (the “Series C Preferred Shares”) (the Ordinary Shares, the Series A-1 Preferred Shares, the Series A-2 Preferred Shares, the Series A-3 Preferred Shares Series B Preferred Shares and Series C Preferred Shares are collectively referred to herein as the “Shares”), with power for the Company insofar as is permitted by applicable law and the Articles, to redeem or purchase any of its shares and to increase or reduce the said capital and to issue any part of its capital, whether original, redeemed or increased with or without any preference, priority or special privilege or subject to any postponement of rights or to any conditions or restrictions and so that unless the conditions of issue shall otherwise expressly declare every issue of shares whether declared to be preference or otherwise shall be subject to the powers hereinbefore contained.
7.2 The shares in the Company shall be issued in the currency of the United States of America.
7.3 Subject to Clause 9 of this Memorandum, each Ordinary Share in the Company confers on the holder:
(i) the right to one vote at a meeting of the members of the Company or on any resolution of the members of the Company;
(ii) the right to an equal share in any dividend paid by the Company in accordance with the Act; and
(iii) the right to an equal share in the distribution of the surplus assets of the Company.
7.4 Each Ordinary Share in the Company shall be junior and subordinate to the rights of the Preferred Shares pursuant to this Memorandum and the Articles.
AUTHORISED SHARES. 6.1 The Company is authorised to issue a maximum of 50,000 Shares comprising of 49,185 Ordinary Shares without par value (the “Ordinary Shares”) and 815 Series A Preference Shares without par value (the “Series A Preference Shares”), with power for the Company insofar as is permitted by applicable law, this Memorandum (including Schedule A) and the Articles to redeem or purchase any of its shares and to increase or reduce the said capital and to issue any part of its capital, whether original, redeemed or increased with or without any preference, priority or special privilege or subject to any postponement of rights or to any conditions or restrictions and so that unless the conditions of issue shall otherwise expressly declare every issue of shares whether declared to be preference or otherwise shall be subject to the powers hereinbefore contained. The Ordinary Shares and the Series A Preference Shares are collectively referred to herein as the “Shares.”
6.2 The Shares in the Company shall be issued in the currency of the United States of America.
6.3 Subject to the provisions of Schedule A and the other rights attaching to the Series A Preference Shares in these Memorandum and Articles of Association, each Ordinary Share in the Company confers on the holder:
(a) the right to one vote at a meeting of the members of the Company or on any resolution of the members of the Company;
(b) the right to an equal share in any dividend paid by the Company in accordance with the Act; and
(c) the right to an equal share in the distribution of the surplus assets of the Company.
6.4 In addition to any other rights attaching to the Series A Preference Shares, each Series A Preference Share in the Company confers on the holder the rights set out in Schedule A attached hereto. For the sake of clarity, Schedule A forms part of the Memorandum. In the event of any conflict between the conditions in the Memorandum and Schedule A, Schedule A shall prevail.
6.5 Subject to the provisions of the Act, the Memorandum and the Articles, shares may be issued on the terms that they are, or at the option of the Company or the holder are, to be redeemed on such terms and in such manner as the Company, before the issue of the shares, may by resolution determine.
6.6 Subject to the provisions of the Act, the Memorandum and the Articles, the Company may purchase its own shares (including fractions of a share), including any redeemable shares, provided that the manner of purchase has first be...
AUTHORISED SHARES. Pursuant to the Memorandum and Articles of Association, the authorised share capital of CPLB is Rupees [* * *]; the [* * *] Shares are divided into (i) [* * *] Common Shares and (ii) [* * *] 1% Redeemable Preference Shares. Any stamp duty payable upon such issue and allotment of any Share shall be borne by CPLB.
AUTHORISED SHARES the Borrower has reserved and kept available out of its authorised Shares (if the number thereof is or becomes limited) solely for the purpose of issue upon exercise of all Warrants issued under this agreement, and has allotted for issue to the Financiers, who may exercise their Warrants, the number of Shares as are issuable upon the exercise of the Warrants. All Shares issued upon exercise of the Warrants in accordance with this agreement will be duly and validly issued as fully paid and non-assessable.
AUTHORISED SHARES. 25.1. 40 000 000 ordinary shares of no par value each have been authorized for issue.
AUTHORISED SHARES. The Company is authorised to issue a maximum of 50,000 shares. Based solely on the Register of Members, the Certificate of Incumbency issued in respect of the Company and the Director's Certificate issued in respect of the Company-