Reservation of Shares Clause Example from Business Contracts

This example Reservation of Shares clause appears in 3 contracts from 1 company

Reservation of Shares. The Company shall at all times, so long as any principal amount of the Note is outstanding, reserve and keep available out of its authorized and unissued Common Stock, solely for the purpose of effecting the conversion of the Note, such number of shares of Common Stock as shall at all times be sufficient to effect the conversion of all of the principal amount of the Note then outstanding. The initial number of shares of Common Stock reserved for conversions of the Notes shall be calculated as fo...ur times the number of shares necessary to convert the entire value of the Note on the day it was executed, unless the Holder stipulates otherwise in the "Irrevocable Letter of Instructions to the Transfer Agent." a. Capitalization. So long as this Note is outstanding, upon written request of the Holder or via telephonic communication, the Company's Transfer Agent shall furnish to the Holder the then-current number of common shares issued and outstanding, the then-current number of common shares authorized, the then-current number of unrestricted shares, and the then-current number of shares reserved for third parties. View More
Found in Force Protection Video Equipment Corp. contract
Force Protection Video Equipment Corp. Contracts

12% CONVERTIBLE NOTE MATURITY DATE OF APRIL 6, 2016 *THE MATURITY DATE $56,000 OCTOBER 6, 2015 *THE ISSUANCE DATE (Filed With SEC on February 22, 2016)

12% CONVERTIBLE NOTE MATURITY DATE OF APRIL 6, 2016 *THE MATURITY DATE $56,000 OCTOBER 6, 2015 *THE ISSUANCE DATE (Filed With SEC on October 13, 2015)

12% CONVERTIBLE NOTE MATURITY DATE OF APRIL 6, 2016 *THE MATURITY DATE $56,000 OCTOBER 6, 2015 *THE ISSUANCE DATE (Filed With SEC on December 23, 2015)