Common use of Minimum Reserve Clause in Contracts

Minimum Reserve. The Company shall at all times maintain a reserve of shares of Common Stock for issuance upon conversion of the Debentures and for payment of interest thereupon in shares of Common Stock in accordance with this Agreement and the Debentures, in such amount as may be required to fulfill its obligations in full under the Transaction Documents, which reserve shall equal no less than the Initial Minimum or the then Current Required Minimum, as then applicable.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Fonix Corp), Securities Purchase Agreement (Fonix Corp), Securities Purchase Agreement (Fonix Corp)

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Minimum Reserve. The Company shall at all times maintain a reserve of --------------- shares of Common Stock for issuance upon conversion of the Debentures and for payment of interest thereupon in shares of Common Stock and upon exercise in full of the Warrants in accordance with this Agreement Agreement, the Debentures and the DebenturesWarrants, respectively, in such amount as may be required to fulfill its obligations in full under the Transaction Documents, which reserve shall equal no less than the Initial Minimum or the then Current Required Minimum, as then applicable.

Appears in 1 contract

Samples: Securities Purchase Agreement (Fonix Corp)

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