Reservation of Underlying Securities. (a) The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Securities in such amount as the Required Minimum, as may then be required to fulfill its obligations in full under the Securities. (b) If, on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than the Required Minimum on such date, then the Board of Directors shall use commercially reasonable efforts to amend the Company’s certificate or articles of incorporation to increase the number of authorized but unissued shares of Common Stock to at least the Required Minimum at such time, as soon as possible and in any event not later than the 60th day after such date.
Appears in 6 contracts
Samples: Securities Purchase Agreement (Vocodia Holdings Corp), Securities Purchase Agreement (Vocodia Holdings Corp), Securities Purchase Agreement (Paid Inc)
Reservation of Underlying Securities. (a) The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Securities in such amount amount, as the Required Minimum, as may then be required to fulfill its obligations in full under the Securities.
(b) If, on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than the Required Minimum on such date, then the Board of Directors shall use commercially reasonable efforts to amend the Company’s certificate or articles of incorporation to increase the number of authorized but unissued shares of Common Stock to at least the Required Minimum at such time, as soon as possible and in any event not later than the 60th day after such date.
Appears in 3 contracts
Samples: Securities Purchase Agreement (CISO Global, Inc.), Securities Purchase Agreement (Vitro Biopharma, Inc.), Securities Purchase Agreement (Neuraxis, INC)
Reservation of Underlying Securities. (a) The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Securities in such amount amount, as the Required Minimum, as may then be required to fulfill its obligations in full under the Securitiesthis Agreement.
(b) If, on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than the Required Minimum on such date, then the Board of Directors shall use commercially reasonable efforts to amend the Company’s 's certificate or articles of incorporation to increase the number of authorized but unissued shares of Common Stock to at least the Required Minimum at such time, as soon as possible and in any event not later than the 60th day after such date.
Appears in 2 contracts
Samples: Securities Purchase Agreement (SusGlobal Energy Corp.), Securities Purchase Agreement (SusGlobal Energy Corp.)
Reservation of Underlying Securities. (a) The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Securities in such amount amount, as the Required Minimum, as may then be required to fulfill its obligations in full under the Securitiesthis Agreement.
(b) If, on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than the Required Minimum on such date, then the Board of Directors shall use commercially reasonable efforts to amend the Company’s certificate or articles of incorporation to increase the number of authorized but unissued shares of Common Stock to at least the Required Minimum at such time, as soon as possible and in any event not later than the 60th day after such date.
Appears in 1 contract
