RESERVATION, ISSUANCE AND DELIVERY OF COMMON STOCK. There have been reserved for issuance, and Sheridan shall at all times keep reserved, out of the authorized and unissued shares of Common Stock, a number of shares sufficient to provide for the exercise of the rights of purchase represented by the Warrants, and such shares, when issued upon receipt of payment therefor or upon a net exercise in accordance with the terms of the Warrants and of this Warrant Agreement, will be legally and validly issued, fully paid and nonassessable and will be free of any preemptive rights of stockholders or any restrictions.
Appears in 4 contracts
Samples: Purchase Agreement (Sheridan Energy Inc), Purchase Agreement (Sheridan Energy Inc), Warrant Agreement (Enron Capital & Trade Resources Corp)
