Reservation of Conversion Shares. The Company hereby agrees that: (a) As soon as practicable after bringing its SEC reporting current, it will make best efforts to have authorized and will reserve and keep available, solely for issuance and delivery to the holder of the Acquired Shares, that number of shares of its Common Stock (or other securities and property) that may be required from time to time for issuance and delivery of the upon conversion of the Acquired Shares. (b) it shall take all necessary steps to ensure that the Conversion Shares, when issued in accordance with this Agreement, shall be duly and validly issued, shall be fully paid and nonassessable, free and clear of any Liens of any kind whatsoever, and free from all preemptive rights of any security holders of the Company. (c) it shall take all action as may be necessary to assure that such Conversion Shares (and any other securities and property) may be issued and delivered as provided herein and as set forth in the Amended Articles without violation of any applicable Law, or of any requirements, of any domestic securities exchange or inter dealer quotation system upon which the Common Stock may then be listed; provided, however, that the Company shall not be required to effect a registration under federal or state securities Laws.
Appears in 6 contracts
Samples: Securities Purchase Agreement (Himalaya Technologies, Inc), Securities Purchase Agreement (Grover Vikram P), Securities Purchase Agreement (2050 Motors, Inc.)
