Debenture Shares Sample Clauses
The 'Debenture Shares' clause defines the terms and conditions under which a company issues shares that are linked to debentures, typically representing a hybrid security with both equity and debt characteristics. This clause outlines the rights attached to debenture shares, such as interest payments, conversion rights, or priority in repayment over ordinary shareholders. By specifying these details, the clause clarifies the obligations of the company to debenture shareholders and the benefits they receive, thereby ensuring transparency and protecting the interests of both the company and its investors.
Debenture Shares. On the Closing Date, 4,000,000 Debenture Shares will be allotted and reserved for issuance, upon the exchange, if any, of the Debenture for all or part of such Debenture Shares. Upon issuance, the Debenture Shares will be duly authorized and validly issued as fully paid and non-assessable Common Shares of BMGX, and the holder of the Debenture will acquire good and valid title to such Debenture Shares, free and clear of any liens.
Debenture Shares. See Section 4.21.
Debenture Shares. The Debenture Shares issuable upon conversion of the Debentures have been, or prior to the Closing Time will be, duly and validly authorized and allotted for issuance by the Corporation and, upon conversion of the Debentures in accordance with their terms, the Debenture Shares will be validly issued as fully paid and non-assessable Common Shares.
Debenture Shares. (a) The Company covenants that, commencing on the Conversion Date, it will at all times reserve and keep available out of its authorized and unissued shares of Common Stock solely for the purpose of issuance upon conversion of the Debentures, each as herein provided, free from preemptive rights or any other actual contingent purchase rights of persons other than the Holders, not less than such number of shares of the Common Stock as shall be issuable upon the conversion of the outstanding principal amount of the Debentures. The Company covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly and validly authorized, issued and fully paid, nonassessable and, if the Registration Statement has been declared effective under the Securities Act, registered for public sale in accordance with such Registration Statement.
(b) The issuance of certificates for Debenture Shares on conversion of the Debentures shall be made without charge to the Holder for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such certificate, provided that the Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance and delivery of any such certificate upon conversion in a name other than that of the Holder of such Debentures so converted and the Company shall not be required to issue or deliver such certificates unless or until the person or persons requesting the issuance thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.