Required Minimum Reserve definition
Required Minimum Reserve means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in the future pursuant to this Note, including any Conversion Shares issuable upon conversion in full of this Note, ignoring any conversion limits set forth therein, which shall initially be: 2,997,175,374 shares (subject to proportionate adjustment for any reverse stock split or similar reclassification of the Common Stock).
Examples of Required Minimum Reserve in a sentence
The Company shall calculate and readjust the minimum share reserve on the first Business Day of each month so long as this Note is outstanding; provided, however, in no event shall such minimum share reserve be reduced below the Required Minimum Reserve.