Common use of Reservation of shares of Stock Clause in Contracts

Reservation of shares of Stock. The Company agrees during the term the rights under this Warrant are exercisable to take all reasonable action to reserve and keep available from its authorized and unissued Common Stock (or Future Round Stock, as the case may be) for the purpose of effecting the exercise of this Warrant such number of shares of Stock (and Common Stock for issuance on conversion of Future Round Stock, as applicable) as shall from time to time be sufficient to effect the exercise of the rights under this Warrant; and if at any time the number of authorized but unissued Common Stock, or Future Round Stock, as the case may be (and Common Stock for issuance on conversion of Future Round Stock, as applicable) shall not be sufficient for purposes of the exercise of this Warrant in accordance with its terms, without limitation of such other remedies as may be available to Holder, the Company shall increase its authorized and unissued Common Stock or Future Round Stock, as the case may be (and Common Stock for issuance on conversion of Future Round Stock, if applicable) to a number of shares of Stock as shall be sufficient for such purposes.

Appears in 6 contracts

Samples: Purchase Stock (Urgent.ly Inc.), Purchase Stock (Urgent.ly Inc.), Urgent.ly Inc.

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Reservation of shares of Stock. The Company agrees during the term the rights under this Warrant are exercisable to take all reasonable action to reserve and keep available from its authorized and unissued Common Stock (or Future Round Stock, as the case may be) for the purpose of effecting the exercise of this Warrant such number of shares of Stock (and Common Stock for issuance on conversion of Future Round Stock, as applicable) as shall from time to time be sufficient to effect the exercise of the rights under this Warrant; and if at any time the number of authorized but unissued Common Stock, or Future Round Stock, as the case may be (and Common Stock for issuance on conversion of Future Round Stock, as applicable) shall not be sufficient for purposes of the exercise of this Warrant in accordance with its terms, without limitation of such other remedies as may be available to Holder, the Company shall increase its authorized and unissued Common Stock or Future Round Stock, as the case may be (and Common Stock for issuance on conversion of Future Round Stock, if applicable) to a number of shares of Stock as shall be sufficient for such purposes.

Appears in 1 contract

Samples: Urgent.ly Inc.

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Reservation of shares of Stock. The Company agrees during the term the rights under this Warrant are exercisable to take all reasonable action to reserve and keep available from its authorized and unissued Common Series D-7 Preferred Stock (or or, Future Round Stock, as the case may be) for the purpose of effecting the exercise of this Warrant such number of shares of Stock (and Common Stock for issuance on conversion of Future Round such Stock, as applicable) as shall from time to time be sufficient to effect the exercise of the rights under this Warrant; and if at any time the number of authorized but unissued Common Series D-7 Preferred Stock, or Future Round Stock, as the case may be (and Common Stock for issuance on conversion of Future Round such Stock, as applicable) shall not be sufficient for purposes of the exercise of this Warrant in accordance with its terms, without limitation of such other remedies as may be available to Holder, the Company shall increase its authorized and unissued Common Series D-7 Preferred Stock or Future Round Stock, as the case may be (and Common Stock for issuance on conversion of Future Round such Stock, if applicable) to a number of shares of Stock as shall be sufficient for such purposes.

Appears in 1 contract

Samples: Loan and Security Agreement (Complete Solaria, Inc.)

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