Common use of REVERSE SPLIT OF SHARES OF COMMON STOCK Clause in Contracts

REVERSE SPLIT OF SHARES OF COMMON STOCK. If so requested in writing at least 20 days prior to the First Closing as that term is defined in the Master Agreement, the Company shall use its best efforts to cause a reverse stock split to reduce the outstanding number of common stock of the Company. If the vote or written consent of the VisionComm Shareholders is required or requested in writing by AWK in connection with the Reverse Stock Split, each of the VisionComm Shareholders agrees to promptly provide such vote and/or written consent, in addition to the delivery of the proxy described in the Master Agreement. The VisionComm Shareholders shall do all such things and execute and deliver all such documents and instruments, including without limitation the proxy, as are necessary or (in the sole discretion of AWK on behalf of the Purchasers) desirable to give effect to the provisions of this Section 2.8.

Appears in 2 contracts

Samples: Waiver and Release of Employee Shareholders (Chequemate International Inc), Waiver and Release of Employee Shareholders (Chequemate International Inc)

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REVERSE SPLIT OF SHARES OF COMMON STOCK. If so requested in writing at least 20 days prior to the First Closing as that term is defined in the Master Agreement, the Company shall use its best efforts to cause a reverse stock split to reduce the outstanding number of common stock shares of the Company. If the vote or written consent of the VisionComm Shareholders is required or requested in writing by AWK in connection with the Reverse Stock Split, each of the VisionComm Shareholders agrees to promptly provide such vote and/or written consent, in addition to the delivery of the proxy described in the Master Agreement. The VisionComm Shareholders shall do all such things and execute and deliver all such documents and instruments, including without limitation the proxyproxy specified in Section o, as are necessary or (in the sole discretion of AWK on for the behalf of the Purchasers) desirable to give effect to the provisions of this Section 2.8.

Appears in 2 contracts

Samples: Waiver and Release (Chequemate International Inc), Waiver and Release (Chequemate International Inc)

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