Shares Authorized Clause Samples
The "Shares Authorized" clause defines the total number and types of shares a corporation is legally permitted to issue as established in its charter or articles of incorporation. This clause typically specifies the maximum number of common and preferred shares that can be created, and may outline different classes or series of shares with distinct rights or privileges. By clearly stating these limits, the clause ensures transparency for investors and regulators, and prevents the company from issuing more shares than originally authorized, thereby protecting shareholder interests and maintaining corporate governance.
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Shares Authorized. The Shares issuable pursuant to such Draw Down Notice will have been duly authorized by all necessary corporate action of the Company.
Shares Authorized. The Shares issuable pursuant to such Fixed Request Notice or Optional Amount shall have been duly authorized by all necessary corporate action of the Company.
Shares Authorized. (a) Subject to adjustment as provided below, the aggregate number of Shares that may be issued pursuant to Options granted under this Plan is 82,500. Such Shares may be authorized, but unissued Shares, or may be Shares reacquired by the Company and held in treasury. If any Option granted under this Plan terminates without being exercised in full, the number of Shares as to which such Option was not exercised shall be available for future grants within the limits set forth in this Section 6(a).
(b) Subject to any required action by the shareholders of the Company in the event of any reorganization, recapitalization, share split, share dividend, combination of shares, issuance of rights or any other change in the capital or corporate structure of the Company, the number of Shares covered by each outstanding Option and the number of Shares available for issuance under this Plan, but as to which Options have not been granted or which have been returned to the Plan upon cancellation or expiration of an Option, as well as the exercise price per Share under outstanding Options, shall be adjusted equitably to reflect the occurrence of such event; provided, however, that no adjustments shall be made except as shall be necessary to preserve, rather than enlarge or reduce the value of awards under this Plan. Any such adjustment shall be made by the Board.
Shares Authorized. The shares of First Union Common Stock to be ----------------- issued in exchange for shares of Company Common Stock upon consummation of the Merger in accordance with Article II of this Plan, have been duly authorized ---------- and, when issued in accordance with the terms of this Plan, and in the case of shares issued upon the exercise of such Options, the related stock option plan, will be validly issued, fully paid and nonassessable and subject to no preemptive rights.
Shares Authorized. PURCHASER represents that it is authorized to issue no more than 200,000,000 of common stock.
Shares Authorized. The Shares will have been duly authorized by all necessary corporate action of the Company.
Shares Authorized. Subject to adjustment as described below in Sections 4(b) and 4(e) below, the aggregate number of shares of Class A Stock that may be issued or transferred under the Plan shall be [__]1 shares of Class A Stock. The aggregate number of shares of Class A Stock that may be issued or transferred under the Plan pursuant to Incentive Stock Options shall not exceed [__]2 shares of Class A Stock. Commencing with the first business day of each calendar year beginning in 2022, the aggregate number of shares of Class A Stock that may be issued or transferred under the Plan shall be increased by, (x) [__]3 shares of Class A Stock and Class B Stock, or (y) such lesser number of shares of Class A Stock as may be determined by the Committee.
Shares Authorized. The total aggregate number of shares of Stock that may be issued or transferred under the Plan is [ ]1 shares, subject to adjustment as described below. The shares may be authorized but unissued shares of Stock or reacquired shares of Stock, including shares purchased by the Company on the open market for purposes of the Plan. Grants paid in cash shall not count against the foregoing share limits.
Shares Authorized. Deferred Shares: 1@ £1 each Issued and Outstanding: 1 Owner and % Interest: DeepStore Limited – 100% 1 deferred share
Shares Authorized. The Shares have been duly and validly authorized for issuance and sale by the Company, and, when issued and delivered to the Purchaser against payment therefor pursuant to this Agreement, will be duly and validly issued, fully paid and nonassessable and will not be subject to any statutory and contractual preemptive rights, first refusal rights or similar rights; the Shares, when issued and delivered against payment therefor as provided herein, will be free of any restriction upon the voting or transfer thereof other than the restrictions on ownership and transfer set forth in the Company’s charter or this Agreement.