Charter Amendment Effective Date means the effective date of filing with the Secretary of State of the State of Delaware of the contemplated amendment to the Company’s Certificate of Incorporation to increase the number of authorized shares of Common Stock of the Company to such number as shall be sufficient to permit the reservation in full of shares of Common Stock underlying all of the Company’s then outstanding Derivative Securities.
Charter Amendment Effective Date means the earliest date on which each of the following events has occurred:
Examples of Charter Amendment Effective Date in a sentence
The Lender hereby waives, until the any requirement on the part of the Borrower to reserve and set aside shares of the Borrower's common stock for issuance upon conversion of the Amended and Restated Note until the Charter Amendment Effective Date (as such term is defined in the Purchase Agreement).
On the second Trading Day (as such term is hereinafter defined) after the Charter Amendment Effective Date (as such term is defined in the Line of Credit Agreement), a portion of the principal and accrued interest on this Note, determined by subtracting (i) $700,000 from (ii) the then outstanding amount of principal and accrued interest, shall be converted automatically into shares of the Debtor's common stock (the "Note Shares").