Common use of Reservation of Stock Issuable on Exercise of Warrant Clause in Contracts

Reservation of Stock Issuable on Exercise of Warrant. The Company covenants and agrees that during the period of time during which this Warrant is exercisable, it will at all times have authorized and reserved solely for issuance and delivery upon the exercise of this Warrant, all such Shares of Series B Common Stock and other stock, securities and property as from time to time are receivable upon the exercise of this Warrant. If at any time the number of authorized but unissued Shares of Series B Common Stock shall not be sufficient to effect the exercise of this Warrant, the Company will use its best efforts to take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Series B Common Stock to such number of shares as shall be sufficient for such purposes. The Company further covenants that all Shares issuable upon exercise of this Warrant and payment of the Exercise Price, all as set forth herein, will be free from all taxes, liens and charges in respect of the issue of such Shares (other than taxes in respect of any transfer occurring contemporaneously with such exercise and payment or otherwise specified herein). The Company agrees that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for Shares of Series B Common Stock upon the exercise of this Warrant and covenants that all such Shares, when issued, sold and delivered in accordance with the terms of this Warrant for the consideration expressed herein, will be duly and validly issued, fully paid and nonassessable, and will be free of restrictions on transfer other than restrictions on transfer set forth in this Warrant, the Investor Rights Agreement, the Securityholders Agreement (as applicable) and applicable state and federal securities laws.

Appears in 1 contract

Samples: Firstworld Communications Inc

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Reservation of Stock Issuable on Exercise of Warrant. The Company covenants and agrees that during the period of time during which this Warrant is exercisable, it will at all times have authorized and reserved solely for issuance and delivery upon the exercise of this Warrant, all such Shares shares of Series B Common Stock and other stock, securities and property as from time to time are receivable upon the exercise of this Warrant. If at any time the number of authorized but unissued Shares shares of Series B Common Stock shall not be sufficient to effect the exercise of this Warrant, the Company will use its best efforts to take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Series B Common Stock to such number of shares as shall be sufficient for such purposes. The Company further covenants that all Shares shares issuable upon exercise of this the Warrant and payment of the Exercise Price, all as set forth herein, will be free from all taxes, liens and charges in respect of the issue of such Shares shares (other than taxes in respect of any transfer occurring contemporaneously with such exercise and payment or otherwise specified herein). The Company agrees that its issuance of this the Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for Shares shares of Series B Common Stock upon the exercise of this the Warrant and covenants that all such Sharesshares, when issued, sold and delivered in accordance with the terms of this the Warrant for the consideration expressed herein, will be duly and validly issued, fully paid and nonassessable, and will be free of restrictions on transfer other than restrictions on transfer set forth in this Warrant, the Investor Rights Agreement, the Securityholders Agreement (as applicable) and applicable state and federal securities laws.

Appears in 1 contract

Samples: Blyth Holdings Inc

Reservation of Stock Issuable on Exercise of Warrant. The Company covenants and agrees that during the period of time during which this Warrant is exercisable, it will at all times have authorized and reserved solely for issuance and delivery upon the exercise of this Warrant, all such Shares of Series B Common Stock and other stock, securities and property as from time to time are receivable upon the exercise of this Warrant. If at any time the number of authorized but unissued Shares of Series B Common Stock shall not be sufficient to effect the exercise of this Warrant, the Company will use its best efforts to take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares Shares of Series B Common Stock to such number of shares as shall be sufficient for such purposes. The Company further covenants that all Shares issuable upon exercise of this Warrant and payment of the Exercise Price, all as set forth herein, will be free from all taxes, liens and charges in respect of the issue of such Shares shares (other than taxes in respect of any transfer occurring contemporaneously with such exercise and payment or otherwise specified herein). The Company agrees that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for Shares of Series B Common Stock upon the exercise of this Warrant and covenants that all such Shares, when issued, sold and delivered in accordance with the terms of this Warrant for the consideration expressed herein, will be duly and validly issued, fully paid and nonassessable, and will be free of restrictions on transfer other than restrictions on transfer set forth in this Warrant, the Investor Rights Agreement, the Securityholders Agreement (as applicable) and applicable state and federal securities laws.

Appears in 1 contract

Samples: Firstworld Communications Inc

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Reservation of Stock Issuable on Exercise of Warrant. The Company covenants and agrees that during the period of time during which this Warrant is exercisable, it will at all times have authorized reserve and reserved keep available, solely for issuance and delivery upon the exercise of this Warrant, all such Shares shares of Series B Common Stock and or other shares of capital stock, securities and property as from time to time are receivable issuable upon the exercise of this Warrant. If at any time the number of authorized but unissued Shares shares of Series B Common Stock shall not be sufficient to effect the exercise of this Warrant, the Company will use its best efforts to take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Series B Common Stock to such number of shares as shall be sufficient for such purposes. The Company further covenants All shares that all Shares issuable may be issued upon exercise of the rights represented by this Warrant and payment of the Exercise Price, all as set forth herein, will be free from all taxes, liens and charges in respect of the issue of such Shares shares (other than taxes in respect of any transfer occurring contemporaneously with such exercise and payment or otherwise specified herein). The Company agrees that its issuance of this Warrant All such shares shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute be duly authorized and issue the necessary certificates for Shares of Series B Common Stock upon the exercise of this Warrant and covenants that all such Shares, when issued, sold and delivered in accordance with the terms of this the Warrant for the consideration expressed herein, will be duly and validly issued, fully paid and nonassessable, and will be free of restrictions on transfer other than restrictions on transfer set forth in this Warrant, the Investor Rights Agreement, the Securityholders Agreement (as applicable) Warrant and applicable state and federal securities laws.

Appears in 1 contract

Samples: Reimbursement Agreement (Air South Airlines Inc)

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