Required Reserve Amount. So long as the Agreement remains effective, the Company shall at all times keep reserved for issuance, free from preemptive or any other contingent purchase rights (other than those of Investors under this Agreement), a number of shares of Class A Common Stock that the Company reasonably believes should be sufficient to satisfy the Company’s obligation to issue the Subsequent Issuance Shares under this Agreement (without regard to any limitations on issuance contained herein) (the “Required Reserve Amount”). The Company shall, on a quarterly basis, evaluate its compliance with this Section 10. The Company shall take all reasonable actions necessary to reserve and seek any required approval for the issuance of all shares of Class A Common Stock (as may be adjusted or converted pursuant to Section 2.2.2(c)) that are issuable on the Subsequent Issuance Closing Date.
Appears in 4 contracts
Samples: Security Issuance Agreement (Grove Collaborative Holdings, Inc.), Security Issuance Agreement (Grove Collaborative Holdings, Inc.), Security Issuance Agreement (Grove Collaborative Holdings, Inc.)
