Requirement to Seek Shareholder Approval. At any time after the date the Initial Advance is made, in the event the Company or the NYSE MKT requires such approval, the Investor may, with written notice to the Company, request the Company seek Shareholder Approval (the “Shareholder Approval Request”). Within forty-five (45) days of the Shareholder Approval Request, the Company shall file all the required documents with the SEC necessary to seek the Shareholder Approval.
Requirement to Seek Shareholder Approval. The Company agrees to seek Shareholder Approval for the issuance of all of the Conversion Shares issuable upon conversion of the Notes and all of the Warrant Shares issuable upon exercise of the Warrants (collectively, the “Transaction Shares”), at such time as the Company seeks shareholder approval for the issuance of shares of Common Stock pursuant to the December 30, 2015, Asset Purchase Agreement, entered into by the Company with twenty-one separate sellers and Segundo Resources, LLC, as a seller and as a representative of the sellers named therein (the “Segundo Transaction” and the “Segundo Proxy”), provided that in the event the Segundo Proxy is not filed by June 30, 2016, the Company shall file a separate proxy statement to seek shareholder approval for the issuance of the Transaction Shares within thirty (30) days of such date.
Requirement to Seek Shareholder Approval. As promptly as is reasonably practicable after the Closing Date, the Borrower shall call an extraordinary general meeting of shareholders of the Borrower to take all action necessary to obtain the approval of its shareholders providing for the Borrower’s issuance of all of the Borrower Common Shares issuable pursuant to this Agreement, without reference to the limit thereon set forth in Section 10.1(e), pursuant to the rules or regulations of Nasdaq Stock Market or the rules and regulations of the national securities market upon which the Borrower Common Shares are then-listed or quoted (the “Shareholder Approval”). In connection with such action, the Borrower shall provide each shareholder with a proxy statement and shall use its reasonable best efforts to solicit and obtain the Shareholder Approval and to cause its Board to recommend, to the extent possible consistent with its fiduciary duties under applicable law, to the stockholders that they approve such proposals. If, despite the Borrower’s reasonable best efforts, such Shareholder Approval is not obtained at the first meeting at which it is presented for a vote, the Borrower shall seek to obtain such Shareholder Approval at each subsequent general meeting of stockholders to obtain Shareholder Approval to the extent permitted under the rules and regulations of the national securities market on which the Borrower Common Shares are then-listed. So long as the Borrower has complied with this Section 10.6(b), in no event shall the failure to obtain the Shareholder Approval constitute a Default or Event of Default.
Requirement to Seek Shareholder Approval. The Company agrees to seek the approval by the shareholders of the Company, as required pursuant to applicable rules and regulations of the NYSE MKT, of (a) the issuance of the Conversion Shares upon the conversion of the Convertible Notes; and (b) the issuance of shares of common stock issuable upon exercise of those certain warrants issuable pursuant to the terms of the April 11, 2015, Assignment, Assumption and Amendment to Line of Credit and Notes Agreement by and between Silver Star Oil Company, Lxxxx Energy, Inc. and Target Alliance London Limited (collectively, the “Transaction Shares”), at such time as the Company seeks shareholder approval for the issuance of shares of Common Stock pursuant to the December 30, 2015, Asset Purchase Agreement, entered into by the Company with twenty-one separate sellers and Segundo Resources, LLC, as a seller and as a representative of the sellers named therein (the “Segundo Transaction” and the “Segundo Proxy”), provided that in the event the Segundo Proxy is not filed by June 30, 2016, the Company shall file a separate proxy statement to seek shareholder approval for the issuance of the Transaction Shares within thirty (30) days of such date.”
