Issuance of Additional Shares; Pre-emptive Right. (a) No additional shares of KUT may be authorized or issued except upon approval by special resolution of shareholders as provided in the Amended Articles of Incorporation.
Issuance of Additional Shares; Pre-emptive Right Sample Clauses
Related to Issuance of Additional Shares; Pre-emptive Right
Issuance of Shares The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note in accordance with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the Company and will not impose personal liability upon the holder thereof.
Fractional Shares No fractional shares or scrip representing fractional shares shall be issued upon the conversion of this Note. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such conversion, the Company shall at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Conversion Price or round up to the next whole share.
