Common use of Reservation and Availability of Shares of Capital Stock Clause in Contracts

Reservation and Availability of Shares of Capital Stock. (a) The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued shares of Preferred Stock (and will use its best efforts, following the occurrence of a Triggering Event, out of its authorized and unissued shares of Common Stock and/or other securities), the number of shares of Preferred Stock (and, following the occurrence of a Triggering Event, Common Stock and/or other securities) that will be sufficient to permit the exercise in full of all outstanding Rights.

Appears in 2 contracts

Samples: Rights Agreement (Citizens Banking Corp), Rights Agreement (Citizens Banking Corp)

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Reservation and Availability of Shares of Capital Stock. (a) The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued shares of Preferred Stock (and will use its best efforts, following the occurrence of a Triggering Event, out of its authorized and unissued shares of Common Stock Shares, its Common Shares held in treasury and/or other securities), the number of shares of Preferred Stock (and, following the occurrence of a Triggering Event, Common Stock and/or other securities) that will be sufficient to permit the exercise in full of all outstanding Rights.

Appears in 2 contracts

Samples: Rights Agreement (Kaydon Corp), Rights Agreement (Kaydon Corp)

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