Increase Authorized Capital Clause Samples

Increase Authorized Capital. The Corporation agrees to use commercially reasonable efforts to (i) promptly call a meeting of its stockholders, (ii) cause its board of directors to recommend that the Corporation’s shareholder approve an amendment to the Corporation’s articles of incorporation to increase the authorized capital of the Corporation in an amount sufficient to permit the exercise of all of the Class B Warrants, (iii) cause its shareholders to approve an amendment to the Corporation’s articles of incorporation to increase the authorized capital of the Corporation and (iv) to file an amendment to the Corporation’s articles of incorporation with the State of Nevada. The Corporation agrees not to issue Common Shares from treasury until after the Corporation has filed an amendment to the Corporation’s articles of incorporation pursuant to this Section 4(a).