Common use of Reservation of Stock Issuable Upon Conversion Clause in Contracts

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the Notes, such number of shares of its Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Notes; and if at any time the number of authorized by unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Notes, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 2 contracts

Samples: Convertible Note Purchase Agreement (American Water Star Inc), Convertible Note Purchase Agreement (American Water Star Inc)

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Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common StockShares, solely for the purpose of effecting the conversion of the Notes, this Convertible Note such number of shares of its Common Stock Shares as shall from time to time be sufficient to effect the conversion of all outstanding Notesthis Convertible Note; and if at any time the number of authorized by but unissued shares of Common Stock Shares shall not be sufficient to effect the conversion of all then outstanding Notes, this Convertible Note the Company will take such corporate action as may, in the opinion of its counsel, may be necessary to increase its authorized but unissued shares of Common Stock Shares to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 2 contracts

Samples: Investment Agreement (Westport Innovations Inc), Investment Agreement (Westport Innovations Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common StockOrdinary Shares, solely for the purpose of effecting the conversion of the NotesPreference Shares, such number of shares of its Common Stock Ordinary Shares as shall from time to time be sufficient to effect the conversion of all outstanding Notes; Preference Shares, and if at any time the number of authorized by but unissued shares of Common Stock Ordinary Shares shall not be sufficient to effect the conversion of all then outstanding NotesPreference Shares, the Company Shareholders will take such corporate action as may, in the opinion of its counsel, may be necessary to increase its the authorized but unissued shares of Common Stock Ordinary Shares to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if approving of any necessary amendment to this Agreementits Memorandum or Articles of Association.

Appears in 2 contracts

Samples: Shareholders Agreement, Shareholders’ Agreement (Noah Education Holdings Ltd.)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common StockShares, solely for the purpose of effecting the conversion of this Note and the other Secured Notes, such number of shares of its Common Stock Shares as shall from time to time be sufficient to effect the conversion of this Note and all outstanding other Secured Notes; and if at any time the number of authorized by but unissued shares of Common Stock Shares shall not be sufficient to effect the conversion of this Note and all then outstanding other Secured Notes, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock Shares to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 1 contract

Samples: Securities Purchase Agreement (Distributed Energy Systems Corp)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common StockOrdinary Shares, solely for the purpose of effecting the conversion of the NotesPreference Shares, such number of shares of its Common Stock Ordinary Shares as shall from time to time be sufficient to effect the conversion of all outstanding Notes; Preference Shares, and if at any time the number of authorized by but unissued shares of Common Stock Ordinary Shares shall not be sufficient to effect the conversion of all then outstanding NotesPreference Shares, the Company will take such corporate action as may, in the opinion of its counsel, may be necessary to increase its authorized but unissued shares of Common Stock Ordinary Shares to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its in best efforts to obtain the requisite stockholder Shareholders’ approval if of any necessary amendment to this Agreementits Memorandum or Articles of Association.

Appears in 1 contract

Samples: Shareholders’ Agreement (Noah Education Holdings Ltd.)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, Stock solely for the purpose of effecting the conversion of the Notes, this Note such number of its shares of its Common Stock as shall from time to time be sufficient to effect the conversion in full of all outstanding Notesthis Note; and if at any time the number of authorized by but unissued shares of Common Stock shall not be sufficient to effect the conversion in full of all then outstanding Notesthis Note, the Company will take such corporate action as mayshall, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 1 contract

Samples: Note Purchase Agreement (HeartBeam, Inc.)

Reservation of Stock Issuable Upon Conversion. The Company Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the Notes, such number of shares of its Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Notes; and if at any time the number of authorized by unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Notes, the Company Corporation will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (American Water Star Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stockcommon stock, solely for the purpose of effecting the conversion of the Notes, such number of its shares of its Common Stock common stock as shall from time to time be sufficient to effect the conversion of all then outstanding Notes; and if at any time the number of authorized by but unissued shares of Common Stock common stock shall not be sufficient to effect the conversion of all then outstanding Notes, the Company will immediately take such corporate action as may, in the opinion of its counsel, may be necessary to increase its authorized but unissued shares of Common Stock common stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 1 contract

Samples: Agreement (Doral Energy Corp.)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the Notes, such number of its shares of its Common Stock as shall from time to time be sufficient to effect the conversion of all then outstanding Notes; and if at any time the number of authorized by but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Notes, the Company will immediately take such corporate action as may, in the opinion of its counsel, may be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 1 contract

Samples: Agreement (Cool Can Technologies Inc/Ca)

Reservation of Stock Issuable Upon Conversion. The Company Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the Notes, such number of shares of its Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Notes; and if at any time the number of authorized by unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Notes, the Company Corporation will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.. 9.10

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (American Water Star Inc)

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Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common StockShares, solely for the purpose of effecting affecting the conversion of the Notes, such number of shares of its Common Stock Shares as shall from time to time be sufficient to effect the conversion of all outstanding Notes; , and if at any time the number of authorized by but unissued shares of Common Stock Shares shall not be sufficient to effect the conversion of all the then outstanding Notes, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock Shares to such number of shares as shall be sufficient for such purpose, including, including without limitation, limitation engaging its in best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreementshareholder approval.

Appears in 1 contract

Samples: Subordinated Convertible Note Purchase Agreement (Mansur Industries Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times use its best efforts to reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the NotesDebenture, such number of its shares of its Common Stock as shall from time to time be sufficient to effect the conversion of all then outstanding NotesDebenture; and if at any time the number of authorized by but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding NotesDebenture, the Company will take such corporate action as may, in the opinion of its counsel, may be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Calypte Biomedical Corp)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the Notesthis Note, such number of its shares of its Common Stock as shall from time to time be sufficient to effect the conversion in full of all outstanding Notesthis Note; and if at any time the number of authorized by but unissued shares of Common Stock shall not be sufficient to effect the conversion in full of all then outstanding Notesthis Note, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 1 contract

Samples: Agreement (Sunrise Technologies International Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, Stock solely for the purpose of effecting the conversion of the Notes, this Debenture such number of its shares of its Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Notesthis Debenture; and if at any time the number of authorized by but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding Notessuch conversion, the Company will shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 1 contract

Samples: Subordinated Convertible Debenture Purchase Agreement (Transcend Services Inc)

Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, Stock solely for the purpose of effecting the conversion of the Notes, this Note such number of its shares of its Common Stock as shall from time to time be sufficient to effect the conversion in full of all outstanding Notesthis Note; and if at any time the number of authorized by but unissued shares of Common Stock shall not be sufficient to effect the conversion in full of all then outstanding Notesthis Note, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging its best efforts to obtain the requisite stockholder approval if any necessary amendment to this Agreement.

Appears in 1 contract

Samples: Stock for Assets Agreement (Ciralight Global, Inc.)

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