Conversion Stock. The Conversion Stock (i) has been duly and validly reserved for issuance, (ii) is not subject to preemptive or any other similar rights of stockholders of the Company, and (iii) when issued in accordance with the terms of the Designation or the Warrant, will be validly issued and outstanding, fully paid and nonassessable, and free of any liens or encumbrances, other than liens or encumbrances created by or imposed upon the holders through no action of the Company.
Appears in 2 contracts
Samples: Series a Convertible Preferred Stock Purchase Agreement (Futurelink Corp), Series a Convertible Preferred Stock Purchase Agreement (Futurelink Corp)
Conversion Stock. The Conversion Stock (i) has been duly and validly reserved for issuance, and (ii) is not subject to preemptive or any other similar rights of stockholders of the Company, and (iii) when issued in accordance with the terms of the Designation or the Warrant, will be validly issued and outstanding, fully paid and nonassessable, and free of any liens or encumbrances, other than liens or encumbrances created by or imposed upon the holders through no action shareholders of the Company.
Appears in 2 contracts
Samples: Series B Convertible Preferred Stock Purchase Agreement (Sonic Jet Performance), Series B Convertible Preferred Stock Purchase Agreement (Sonic Jet Performance)
