AUTHORIZED ISSUANCE Sample Clauses
The "Authorized Issuance" clause defines the conditions under which a company is permitted to issue new shares or securities. It typically outlines the maximum number of shares that can be created, the classes or series of shares involved, and any approvals required from the board of directors or shareholders before issuance. For example, it may specify that only a certain number of preferred shares can be issued without further shareholder consent. This clause ensures that the process of creating new equity is controlled and transparent, protecting existing shareholders from unexpected dilution and maintaining corporate governance standards.
AUTHORIZED ISSUANCE. The issuance of the Shares by Company to Buyer has been fully authorized by the Board of Directors of Company.
AUTHORIZED ISSUANCE. Section 1.1(a) is amended by replacing $300,000 with $315,000, such amount being the authorized aggregate original principal amount of Notes issued pursuant to the Note Agreement and Section 4.1(a) is amended by replacing 90,000 with 94,500, such amount being the authorized amount of Shares issued.
AUTHORIZED ISSUANCE. The Corporation shall be authorized to issue (i) Three Hundred Million (300,000,000) shares of common stock with One Tenth of One Cent ($0.001) par value (the “Common Stock”), (ii) Ten Million (10,000,000) shares of Series A convertible preferred stock with One and No/100 Dollar ($1.00) par value (the “Series A Convertible Preferred Stock”), (iii) Thirty Million (30,000,000) shares of Series B convertible preferred stock with One and No/100 Dollar ($1.00) par value (the “Series B Convertible Preferred Stock”), (iv) Ten Million (10,000,000) shares of Series C convertible preferred stock with One and No/100 Dollar ($1.00) par value (the “Series C Convertible Preferred Stock”), (v) Fifteen Million (15,000,000) shares of Series D convertible preferred stock with One and No/100 Dollar ($1.00) par value (the “Series D Convertible Preferred Stock”) and (vi) Thirty Million (30,000,000) shares of Series E convertible preferred stock with One and No/100 Dollar ($1.00) par value (the “Series E Convertible Preferred Stock”). Except as otherwise expressly provided in these Articles or any amendment thereto, no holder of the Corporation’s stock shall have any preemptive right to acquire the Corporation’s securities.