Increase of Share Capital. (a) Subject to and in accordance with Article 75, the Company may, from time to time, by resolution of its shareholders, whether or not all the shares then authorized have been issued, and whether or not all the shares issued have been called up for payment, increase its authorized share capital. Any such increase shall be in such amount and shall be divided into shares of such nominal amounts, with such rights and preferences and subject to such restrictions, as such resolution shall provide.
(b) Except to the extent otherwise provided in such resolution, any new shares included in the authorized share capital increased as aforesaid shall be subject to all the provisions of these Articles which are applicable to shares included in the existing share capital, without regard to class (and, if such new shares are of the same class as a class of shares included in the existing share capital, to all of the provisions that are applicable to shares of such class included in the existing share capital).
Increase of Share Capital. Subject to the provisions of Article 12 above and to any applicable law, the Company shall be permitted from time to time, by resolution duly adopted according to these Articles, to increase its share capital - whether or not all its shares have been issued, or whether the shares issued have been paid in full - by creation of new shares. This new capital shall be in such an amount, divided into shares in such amounts and have such preferable or deferred or other special rights (subject always to the special rights conferred upon an existing class of share), subject to any condition and restrictions with respect to dividends, return of capital, voting or otherwise, all as shall be directed by the general meeting in its resolution sanctioning the increase of the share capital.
Increase of Share Capital. Articles 4.1 of the Articles of Association shall be amended to read as follows:
4.1 The authorized capital of the Company shall be 105,000,000 GUILDERS Currency of the Netherlands (Hf.105,000,000) divided into (a) 100,000,000 common shares with a par value of One Dutch Guilder Currency of The Netherlands (Hf.
Increase of Share Capital. 7.1. Subject to the provisions of these Articles (including Article 36), the Company may, from time to time, by a Shareholders’ resolution, whether or not all the shares then authorized have been issued, and whether or not all the shares theretofore issued have been called up for payment, increase its share capital by the creation of new shares. Any such increase shall be in such amount and shall be divided into shares of such nominal amounts, and such shares shall confer such rights and preferences, and shall be subject to such restrictions, as such resolution shall provide.
7.2. Except to the extent otherwise provided in such resolution, such new shares shall be subject to all the provisions applicable to the shares of the original capital.
Increase of Share Capital. In the event that a capital share increase is made in accordance with the Financing Agreement, the Pledgors shall inform the Security Agent in writing at least five (5) Business Days in advance of the date on which a general shareholders meeting, in which that increase of share capital is to be considered or approved, is to be held and shall send the Security Agent, through registered mail, a copy of the deed of increase of share capital as soon as the Pledgors receive it from the relevant Notary. The Pledgors undertake to do all things and execute all documents as may be necessary in order for the Pledges to be extended to such newly-issued shares of the Company subscribed by the Pledgors, in order to avoid a decrease in the value of the Pledges (as referred to a percentage in the share capital), so that 99.4681% of the share capital of the Company is pledged at all times. The extension of the Pledges shall be documented by a supplementary pledge document granted by the Pledgors before a Spanish Notary within thirty (30) calendars days following the date of registration of the capital increase with the Mercantile Registry, and shall be recorded with the corresponding accounts of the Registries. In the event that such documents are not granted and/or the extension is not perfected within the above referred deadline, the Security Agent shall be entitled to grant the same in the name and on behalf of the Pledgors exercising the faculties conferred under the irrevocable powers of attorney granted by the Pledgors on the date hereof in favour of the Security Agent (even if this implies self-contracting).
Increase of Share Capital. 7.1. The Company may, from time to time, by a Shareholders resolution, whether or not all the shares then authorized have been issued, and whether or not all the shares theretofore issued have been called up for payment, increase its share capital by the creation of new shares. Any such increase shall be in such amount and shall be divided into shares of such nominal amounts, and such shares shall confer such rights and preferences, and shall be subject to such restrictions, as such resolution shall provide.
7.2. Except to the extent otherwise provided in such resolution, such new shares shall be subject to all the provisions applicable to the shares of the original capital.
Increase of Share Capital. The Borrower undertakes that it will use its best efforts (taking account of the prevailing conditions in the equity markets including those relevant to shipping companies) to raise capital of approximately $200,000,000 by no later than 31 December 2009.”;
(f) by deleting Clause 12.3(b) thereof in its entirety and replacing it with the following:
Increase of Share Capital. VOTE AGAINST: Qualitau Ltd., holding 1% of the voting power of shareholders present;
Increase of Share Capital. In order to give effect to the Capital Increase and on the terms and subject to the conditions of this Agreement:
(a) the Investors will provide for cash equity funding to the Company in the amount of CHF 250’000 at a pre-money valuation of the Company (fully diluted) of CHF 1’000’000 in one share capital increase for purposes of enabling the Company to expand its Business in accordance with the Business Plan; and
(b) each of the Existing Shareholders and the Company hereby undertakes to the Investors to generally use their powers and take all actions and execute all documents required to effect the transactions contemplated under this Agreement and to consummate the Capital Increase in accordance with the terms and conditions hereof.
Increase of Share Capital of the Borrower and the Issuance of the Warrants to Purchase the Ordinary Shares
