Common use of Sufficient Shares Clause in Contracts

Sufficient Shares. The Company shall at all times reserve and keep available out of its authorized and unissued Common Stock or shares of Common Stock acquired by the Company, solely for issuance upon the conversion of shares of Convertible Preferred Stock as provided in this Certificate of Designations, free from any preemptive or other similar rights, such number of shares of Common Stock as shall from time to time be issuable upon the conversion of all the shares of Convertible Preferred Stock then outstanding. For purposes of this Section 19(a), the number of shares of Common Stock that shall be deliverable upon the conversion of all outstanding shares of Convertible Preferred Stock shall be computed as if at the time of computation all such outstanding shares were held by a single Holder.

Appears in 2 contracts

Samples: Investment Agreement (Dow Chemical Co /De/), Investment Agreement (Dow Chemical Co /De/)

AutoNDA by SimpleDocs

Sufficient Shares. The Company shall at all times reserve and keep available out of its authorized and unissued Common Stock or shares of Common Stock acquired by the Company, solely for issuance upon the conversion of shares of Convertible Preferred Stock as provided in this Certificate of DesignationsDesignation, free from any preemptive or other similar rights, such number of shares of Common Stock as shall from time to time be issuable upon the conversion of all the shares of Convertible Preferred Stock then outstanding). For purposes of this Section 19(a15(a), the number of shares of Common Stock that shall be deliverable upon the conversion of all outstanding shares of Convertible Preferred Stock shall be computed as if at the time of computation all such outstanding shares were held by a single Holder.

Appears in 1 contract

Samples: Stock Purchase Agreement (Taylor Capital Group Inc)

Sufficient Shares. The Company shall at all times reserve and keep available out of its authorized and unissued Common Stock or shares of Common Stock acquired by the Company, solely for issuance upon the conversion of shares of Convertible Series B Preferred Stock as provided in this Certificate of these Designations, free from any preemptive or other similar rights, such number of shares of Common Stock as shall from time to time be issuable upon the conversion of all the shares of Convertible Series B Preferred Stock then outstandingoutstanding (without giving effect to Section 7(b)). For purposes of this Section 19(a16(a), the number of shares of Common Stock that shall be deliverable upon the conversion of all outstanding shares of Convertible Series B Preferred Stock shall be computed as if at the time of computation all such outstanding shares were held by a single HolderHolder (without giving effect to Section 7(b)).

Appears in 1 contract

Samples: Subscription and Purchase Agreement (Macatawa Bank Corp)

AutoNDA by SimpleDocs

Sufficient Shares. The Company shall at all times reserve and keep available out of its authorized and unissued Common Stock Ordinary Shares or shares of Common Stock acquired by the Company, solely for issuance upon the conversion of shares of Convertible Preferred Stock Shares as provided in this Certificate of Designations, free from any preemptive or other similar rights, such number of shares of Common Stock Ordinary Shares as shall from time to time be issuable upon the conversion of all the shares of Convertible Preferred Stock Shares then issued and outstanding. For purposes of this Section 19(a18(a), the number of shares of Common Stock Ordinary Shares that shall be deliverable upon the conversion of all issued and outstanding shares of Convertible Preferred Stock Shares shall be computed as if at the time of computation all such outstanding shares were held by a single Holder.

Appears in 1 contract

Samples: Investment Agreement (FGL Holdings)

Time is Money Join Law Insider Premium to draft better contracts faster.