Stockholder Vote. The Company covenants that it shall use commercially reasonable efforts to hold a special meeting of stockholders (which may also be at the annual meeting of stockholders) on or before December 31, 2023, with the recommendation of the Company’s Board of Directors that (a) a proposal allowing for the price adjustment provisions in the Warrants be approved pursuant to applicable NASDAQ Rules (the “NASDAQ Proposal”) and (b) a proposal to amend the Company's articles of incorporation to increase the authorized shares of Common Stock of the Company (the "Charter Proposal,” and together with the NASDAQ Proposal, the “Proposals”) be approved, and the Company shall solicit proxies from its stockholders in connection therewith in the same manner as all other management proposals in such proxy statement and all management-appointed proxyholders shall vote their proxies in favor of the Proposals. If the Company does not obtain the requisite stockholder approval for each of the Proposals (the “Stockholder Approvals”) at the first meeting, the Company shall use commercially reasonable efforts to call a meeting every six months thereafter to seek the Stockholder Approvals until the earlier of the date the Stockholder Approvals are obtained or the Warrants are no longer outstanding. From the date hereof until receipt of the required Stockholder Approvals, neither the Company nor any Subsidiary shall (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents or (ii) file any registration statement or any amendment or supplement thereto, other than the Prospectus Supplement or a Form S-8 registration statement for the Company’s benefit plan.
Appears in 2 contracts
Samples: Securities Purchase Agreement (22nd Century Group, Inc.), Securities Purchase Agreement (22nd Century Group, Inc.)
Stockholder Vote. The Company covenants that it shall use commercially reasonable efforts to hold a special meeting of stockholders (which may also be at the annual meeting of stockholders) on or before December July 31, 20232024, with the recommendation of the Company’s Board of Directors that (a) a proposal allowing for the (i) price adjustment provisions in the Warrants and (ii) issuance of the Warrants and the Warrant Shares issuable upon exercise thereof be approved pursuant to applicable NASDAQ Rules (the “NASDAQ Proposal”) and (b) a proposal to amend the Company's articles of incorporation to increase the authorized shares of Common Stock of the Company (the "Charter Proposal,” and together with the NASDAQ Proposal, the “Proposals”) be approved, and the Company shall solicit proxies from its stockholders in connection therewith in the same manner as all other management proposals in such proxy statement and all management-appointed proxyholders shall vote their proxies in favor of the ProposalsNASDAQ Proposal. If the Company does not obtain the requisite stockholder approval for each of the Proposals NASDAQ Proposal (the “Stockholder ApprovalsApproval”) at the first meeting, the Company shall use commercially reasonable efforts to call a meeting every six three (3) months thereafter to seek the Stockholder Approvals Approval until the earlier of the date the Stockholder Approvals are Approval is obtained or the Warrants are no longer outstanding. From the date hereof until receipt of the required Stockholder ApprovalsApproval, neither the Company nor any Subsidiary shall (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents or (ii) file any registration statement or any amendment or supplement thereto, other than the Prospectus Supplement or a Form S-8 registration statement for the Company’s benefit plan.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Greenwave Technology Solutions, Inc.), Securities Purchase Agreement (Greenwave Technology Solutions, Inc.)
Stockholder Vote. The Company covenants that it shall use commercially reasonable efforts to hold a special meeting of stockholders (which may also be at the annual meeting of stockholders) on or before December 31September 30, 20232024, with the recommendation of the Company’s Board of Directors that (a) a proposal allowing for the price adjustment alternative cashless exercise provisions in the Warrants be approved pursuant to applicable NASDAQ Rules (the “NASDAQ Proposal”) and (b) a proposal to amend the Company's articles of incorporation to increase the authorized shares of Common Stock of the Company (the "Charter Proposal,” and together with the NASDAQ Proposal, the “Proposals”) be approved, and the Company shall solicit proxies from its stockholders in connection therewith in the same manner as all other management proposals in such proxy statement and all management-appointed proxyholders shall vote their proxies in favor of the ProposalsNASDAQ Proposal. If the Company does not obtain the requisite stockholder approval for each of the Proposals NASDAQ Proposal (the “Stockholder ApprovalsApproval”) at the first meeting, the Company shall use commercially reasonable efforts to call a meeting every six three (3) months thereafter to seek the Stockholder Approvals Approval until the earlier of the date the Stockholder Approvals are Approval is obtained or the Warrants are no longer outstanding. From the date hereof until receipt of the required Stockholder ApprovalsApproval, neither the Company nor any Subsidiary shall (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents or (ii) file any registration statement or any amendment or supplement thereto, other than the Prospectus Supplement or a Form S-8 registration statement for the Company’s benefit plan.
Appears in 1 contract
Samples: Securities Purchase Agreement (Greenwave Technology Solutions, Inc.)