Common use of Principal Market Limitation Clause in Contracts

Principal Market Limitation. Notwithstanding anything in this Agreement to the contrary, the Company shall not issue any shares of Common Stock pursuant to the this Debenture or the Other Debentures if the issuance of such shares of Common Stock, together with any other related transactions that may be considered part of the same series of transactions, would exceed the aggregate number of shares of Voting Stock that the Company may issue in this transaction in compliance with the Company’s obligations under the rules or regulations of the New York Stock Exchange (“NYSE”) (the number of shares which may be issued without violating such rules and regulations is 58,376,773 and shall be referred to as the “Exchange Cap”), except that such limitation shall not apply in the event that the Company (A) obtains the approval of its stockholders as required by the applicable rules of NYSE for issuances of shares of Common Stock in excess of such amount or (B) concludes, after consultation with outside counsel to the Company that such approval is not required, which conclusion shall be reasonably satisfactory to the Buyers. The Exchange Cap shall be appropriately adjusted for any stock dividend, stock split, reverse stock split or similar transaction.

Appears in 2 contracts

Samples: Convertible Debenture (Rubicon Technologies, Inc.), Convertible Debenture (Rubicon Technologies, Inc.)

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Principal Market Limitation. Notwithstanding anything in this Agreement to the contrary, the Company shall not issue any shares of Common Stock pursuant to the this Debenture or the Other Debentures if the issuance of such shares of Common Stock, together with any other related transactions that may be considered part of the same series of transactions, would exceed the aggregate number of shares of Voting Stock that the Company may issue in this transaction in compliance with the Company’s obligations under the rules or regulations of the New York Stock Exchange (“NYSE”) (the number of shares which may be issued without violating such rules and regulations is 58,376,773 and shall be referred to as the “Exchange Cap”), except that such limitation shall not apply in the event that the Company (A) obtains the approval of its stockholders as required by the applicable rules of NYSE for issuances of shares of Common Stock in excess of such amount or (B) concludes, after consultation with outside counsel to the Company that such approval is not required, which conclusion shall be reasonably satisfactory to the Buyers. The Exchange Cap shall be appropriately adjusted for any stock dividend, stock split, reverse stock split or similar transaction.

Appears in 2 contracts

Samples: Convertible Debenture (Rubicon Technologies, Inc.), Convertible Debenture (Rubicon Technologies, Inc.)

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Principal Market Limitation. Notwithstanding anything in this Agreement Note to the contrary, the Company shall not issue any shares of Common Stock pursuant to the terms of this Debenture or the Other Debentures Note if the issuance of such shares of Common Stock, together with any other shares of Common Stock issued in any related transactions transaction that may be is considered part of the same series of transactions, would exceed the aggregate number of shares of Voting Common Stock that the Company may issue in this transaction upon conversion of the Note in compliance with the Company’s obligations under the rules or regulations of the New York Nasdaq Stock Exchange (“NYSE”) Market (the number of shares which may be issued without violating such rules and regulations is 58,376,773 1,903,236 and shall be referred to as the “Exchange Cap”), except that such limitation shall not apply in the event that the Company (A) obtains the approval of its stockholders as required by the applicable rules of NYSE the Nasdaq Stock Market for issuances of shares of Common Stock in excess of such amount or (B) concludes, after consultation with obtains a written opinion from outside counsel to the Company that such approval is not required, which conclusion opinion shall be in a form reasonably satisfactory to the Buyers. The Exchange Cap shall be appropriately adjusted for any stock dividend, stock split, reverse stock split or similar transactionHolder.

Appears in 1 contract

Samples: Equity Purchase Agreement (GigCapital5, Inc.)

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