Common use of Reservation and Availability of Shares of Preferred Stock; Other Covenants Clause in Contracts

Reservation and Availability of Shares of Preferred Stock; Other Covenants. (a) The Company covenants and agrees that on and after the Distribution Date, it shall use reasonable efforts to cause to be reserved and kept available out of its authorized and unissued shares of Preferred Stock (or, following the occurrence of a Common Stock Event, out of its authorized and unissued shares of Common Stock and/or Other Consideration, or out of its authorized and issued shares held in its treasury), the number of shares of Preferred Stock (or, following a Common Stock Event, shares of Common Stock and/or Other Consideration) that, except as provided in Section 11(a)(iii) hereof, would then be sufficient to permit the exercise in full of all outstanding Rights; provided, however, that the reservation of such shares shall be subject and subordinate to any other reservation of such shares made by the Company at any time for any lawful purpose; provided, further, however, that in no event shall such failure to so reserve shares affect the rights of any holder of Rights hereunder.

Appears in 5 contracts

Samples: Rights Agreement (Dynamics Research Corp), Rights Agreement (Dynamics Research Corp), Rights Agreement (Enterasys Networks Inc /De/)

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Reservation and Availability of Shares of Preferred Stock; Other Covenants. (a) The Company covenants and agrees that on and after the Distribution Date, it shall will use reasonable efforts to cause to be reserved and kept available out of its authorized and unissued shares of Preferred Stock (or, following the occurrence of a Common Stock Event, out of its authorized and unissued shares of Common Stock and/or Other Considerationother securities, or out of its authorized and issued shares held in its treasury), the number of shares of Preferred Stock (or, following a Common Stock Event, shares of Common Stock and/or Other Considerationother securities) that, except as provided in Section 11(a)(iii) hereof, would then be sufficient to permit the exercise in full of all outstanding Rights; provided, however, that the reservation of such shares shall be subject and subordinate to any other reservation of such shares made by the Company at any time for any lawful purpose; provided, further, however, that in no event shall such failure to so reserve shares affect the rights of any holder of Rights hereunder.

Appears in 2 contracts

Samples: Rights Agreement (Oak Industries Inc), Rights Agreement (Oak Industries Inc)

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Reservation and Availability of Shares of Preferred Stock; Other Covenants. (a) The Company covenants and agrees that on and after the Distribution Date, it shall use reasonable efforts to cause to be reserved and kept available out of its authorized and unissued shares of Preferred Stock (or, following the occurrence of a Common Stock Event, out of its authorized and unissued shares of Common Stock and/or Other Consideration, or out of its authorized and issued shares held in its treasury), the number of shares of Preferred Stock (or, following a Common Stock Event, shares of Common Stock and/or Other Consideration) that, except as provided in Section 11(a)(iii) hereof, would then be sufficient to permit the exercise in full of all outstanding Rights; providedPROVIDED, howeverHOWEVER, that the reservation of such shares shall be subject and subordinate to any other reservation of such shares made by the Company at any time for any lawful purpose; providedPROVIDED, furtherFURTHER, howeverHOWEVER, that in no event shall such failure to so reserve shares affect the rights of any holder of Rights hereunder.

Appears in 1 contract

Samples: Rights Agreement (Summit Technology Inc)

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