Common use of Reservation Default Clause in Contracts

Reservation Default. Failure by the Borrower to have reserved for issuance the number of shares of Common Stock as required in the Subscription Agreement.

Appears in 4 contracts

Samples: Loan Agreement (Cellteck Inc.), Second Consolidated Amendment Agreement (Cellteck Inc.), Consolidated Amendment Agreement (Cellteck Inc.)

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Reservation Default. Failure The failure by the Borrower to have reserved ------------------- for issuance upon conversion of the Note the number of shares of Common Stock as required in the Subscription Agreement.

Appears in 1 contract

Samples: Convertible Note (BigString CORP)

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Reservation Default. Failure by the Borrower to have reserved for issuance the number of shares of Common Stock as required in common stock issuable upon exercise of the Subscription AgreementWarrants.

Appears in 1 contract

Samples: Loan Agreement (Cellteck Inc.)

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