Reservation of Shares Clause Example with 66 Variations from Business Contracts
This page contains Reservation of Shares clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Reservation of Shares. On the date hereof, Company will reserve 15,000,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note (the "Share Reserve"). Company further agrees to add additional shares of Common Stock to the Share Reserve in increments of 1,000,000 shares as and when requested by Investor if as of the date of any such request the number of shares being held in the Share Reserve is less than three (3) times the number of shares of... Common Stock obtained by dividing the Outstanding Balance (as defined in the Note) as of the date of the request by the Conversion Price (as defined in the Note). Company shall further require the Transfer Agent to hold the shares of Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice under the Note. Finally, Company shall require the Transfer Agent to issue shares of Common Stock pursuant to the Note to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent.View More
Variations of a "Reservation of Shares" Clause from Business Contracts
Reservation of Shares. On the date hereof, Company will reserve 15,000,000 6,500,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note and the Warrant (the "Share Reserve"). Company further agrees to add additional shares of Common Stock to the Share Reserve in increments of 1,000,000 500,000 shares as and when requested by Investor if as of the date of any such request the number of shares being held in the Share Reserve is less than (i) t...hree (3) times the number of shares of Common Stock obtained by dividing the Outstanding Balance (as defined in the Note) as of the date of the request by the Redemption Conversion Price (as defined in the Note). Note), plus (ii) three (3) times the number of Warrant Shares (as determined pursuant to the Warrant) deliverable upon full exercise of the Warrant. Company shall further require the Transfer Agent to hold the shares of Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice under the Note. Finally, Company shall require Note or a notice of exercise under the Transfer Agent to issue shares of Common Stock pursuant to the Note to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent. Warrant. View More
Reservation of Shares. On Beginning on the date hereof, that is one hundred fifty (150) days from the date hereof (the "Share Reserve Date") and at all times during which the Note is convertible, 4 Company will reserve 15,000,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances the issuance of Common Stock under upon the Note full conversion of the Note. On the Share Reserve Date and at all times thereafter, Company will reserve at least three (3) times the higher of (1...) the Conversion Eligible Outstanding Balance (as defined in and determined pursuant to the Note) divided by the Lender Conversion Price (as defined in and determined pursuant to the Note), and (2) the Conversion Eligible Outstanding Balance divided by the Market Price (as defined in and determined pursuant to the Note) (the "Share Reserve"). Company further agrees that it will cause the Transfer Agent to immediately add additional shares of Common Stock to the Share Reserve in increments of 1,000,000 10,000,000 shares as and when requested by Investor if as of in writing from time to time, provided that such incremental increases do not exceed the date of any such request the number of shares being held in Share Reserve. In furtherance thereof, from and after the Share Reserve is less than three (3) times Date and until such time that the Note has been paid in full, Company shall require the Transfer Agent to reserve for the purpose of issuance of Conversion Shares under the Note, a number of shares of Common Stock obtained by dividing at least equal to the Outstanding Balance (as defined in the Note) as of the date of the request by the Conversion Price (as defined in the Note). Share Reserve. Company shall further require the Transfer Agent to hold the such shares of Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice under the Note. Finally, Company shall require the Transfer Agent to issue shares of Common Stock pursuant to the Note to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent. View More
Reservation of Shares. On the date hereof, Company will reserve 15,000,000 1,100,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note (the "Share "Transfer Agent Reserve"). Company further agrees to add additional shares of Common Stock to the Share Transfer Agent Reserve in increments of 1,000,000 300,000 shares as and when requested by Investor if as of the date of any such request the number of shares being held in the Share Transfer Ag...ent Reserve is less than three (3) times the number of shares of Common Stock obtained by dividing the Outstanding Balance (as defined in the Note) as of the date of the request by the Conversion Price (as defined in the Note). Price. Company shall further require the Transfer Agent to hold the shares of Common Stock reserved pursuant to the Share Transfer Agent Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice Conversion Notice under the Note. Finally, Company shall require the Transfer Agent to issue shares of Common Stock pursuant to the Note to Investor out of its authorized and unissued shares, and not the Share Transfer Agent Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Transfer Agent Reserve. The Transfer Agent shall only issue shares out of the Share Transfer Agent Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent. View More
Reservation of Shares. On the date hereof, Company will reserve 15,000,000 5,387,500 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note (the "Share Reserve"). Company further agrees to add additional shares of Common Stock to the Share Reserve in increments of 1,000,000 shares as and when requested by Investor if as of the date of any such request the number of shares being held in the Share Reserve is less than three (3) two and a half (2.5...) times the number of shares of Common Stock obtained by dividing the Outstanding Balance (as defined in the Note) as of the date of the request by the Conversion Price (as defined in the Note). Company shall further require the Transfer Agent to hold the shares of Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice under the Note. Finally, Company shall require the Transfer Agent to issue shares of Common Stock pursuant to the Note to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent.View More
Reservation of Shares. On the date hereof, Company will reserve 15,000,000 4,500,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note (the "Share Reserve"). Company further agrees to add additional shares of Common Stock to the Share Reserve in increments of 1,000,000 100,000 shares as and when requested by Investor if as of the date of any such request the number of shares being held in the Share Reserve is less than three (3) times the n...umber of shares of Common Stock obtained by dividing the Outstanding Balance (as defined in the Note) as of the date of the request by the Redemption Conversion Price (as defined in the Note). Company shall further require the Transfer Agent to hold the shares of Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice Redemption Notice under the Note. Finally, Company shall require the Transfer Agent to issue shares of Common Stock pursuant to the Note to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent.View More
Reservation of Shares. On the date hereof, Company will reserve 15,000,000 300,000,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note (the "Share Reserve"). Beginning on the earlier of the date that is six (6) months from the Closing Date and the date that is one (1) month from effectiveness of the Registration Statement (the "Share Reserve Increase Date"), Company agrees to add additional shares of Common Stock to the Share Reserve if a...s of the Share Reserve Increase Date the number of shares held in the Share Reserve is less than two (2) times the number of shares of Common Stock obtained by dividing the fully funded portion of the Outstanding Balance (as defined in the Note) as of such date by the Conversion Price (as defined in the Note). At all times after the Share Reserve Increase Date, Company further agrees to add additional shares of Common Stock to the Share Reserve in increments of 1,000,000 10,000,000 shares as and when requested by Investor if as of the date of any such request the number of shares being held in the Share Reserve is less than three (3) two (2) times the number of shares of Common Stock obtained by dividing the fully funded portion of the Outstanding Balance (as defined in the Note) as of the date of the request by the Conversion Price (as defined in the Note). Price. Company shall further require the Transfer Agent to hold the shares of Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice Conversion Notice under the Note. Finally, Company shall require the Transfer Agent to issue shares of Common Stock pursuant to the Note to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent. View More
Reservation of Shares. On the date hereof, Company will reserve 15,000,000 3,000,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note and Warrant (the "Share Reserve"). Company further agrees to add additional shares of Common Stock to the Share Reserve in increments of 1,000,000 300,000 shares as and when requested by Investor if as of the date of any such request the number of shares being held in the Share Reserve is less than three (3)... (i) two (2) times the number of shares of Common Stock obtained by dividing the Outstanding Balance (as defined in the Note) as of the date of the request by the Conversion Price (as defined in the Note). Note), plus (ii) two (2) times the number of Warrant Shares (as determined pursuant to the Warrant) deliverable upon full exercise of the Warrant. Company shall further require the Transfer Agent to hold the shares of Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice under the Note. Note or a notice of exercise under the Warrant. Finally, Company shall require the Transfer Agent to issue shares of Common Stock pursuant to the Note and the Warrant to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent. View More
Reservation of Shares. On the date hereof, Company will reserve 15,000,000 10,000,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note Notes (the "Share Reserve"). Company further agrees to add (a) 67,000,000 shares of Common Stock to the Share Reserve within five (5) Trading Days of Company's completion of its reverse stock split (the "Reverse Split Completion Date"); and (b) additional shares of Common Stock to the Share Reserve at any t...ime following the Reverse Split Completion Date in increments of 1,000,000 2,500,000 shares as and when requested by Investor if as of the date of any such request the number of shares being held in the Share Reserve is less than three (3) times the number of shares of Common Stock obtained by dividing the Outstanding Balance (as defined in the Note) as of the date of the request by the Conversion Price (as defined in the Note). Company shall further require the Transfer Agent to hold the shares of 6 Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice under the Note. Finally, Company shall require the Transfer Agent to issue shares of Common Stock pursuant to the Note to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent. View More
Reservation of Shares. On the date hereof, or before April 1, 2023, Company will reserve 15,000,000 15,910,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note (the "Share Reserve"). Company further agrees to add additional shares of Common Stock to the Share Reserve in increments of 1,000,000 500,000 shares as and when requested by Investor if as of at any time following a Major Trigger Event (as defined in the date of any such request No...te) under the Note the number of shares being held in the Share Reserve is less than three (3) two and a half (2.5) times the number of shares of Common Stock obtained by dividing the Outstanding Balance (as defined in the Note) as of the date of the request by the Conversion Price (as defined in the Note). Company shall further require instruct the Transfer Agent to hold the shares of Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion notice Redemption Notice under the Note. Finally, Company shall require instruct the Transfer Agent to issue shares of Common Stock pursuant to the Note to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent. View More
Reservation of Shares. On the date hereof, Company will reserve 15,000,000 39,000,000 shares of Common Stock from its authorized and unissued Common Stock to provide for all issuances of Common Stock under the Note and the Warrants (the "Share Reserve"). Company further agrees to add additional shares of Common Stock to the Share Reserve in increments of 1,000,000 4,000,000 shares as and when requested by Investor if as of the date of any such request the number of shares being held in the Share Reserve is less than (...i) three (3) times the number of shares of Common Stock obtained by dividing the Outstanding Balance (as defined in the Note) as of the date of the request by the Installment Conversion Price (as defined in the Note). Note), plus (ii) three (3) times the number of Warrant Shares (as determined pursuant to the Warrants) deliverable upon full exercise of the Warrants. Company shall further require the Transfer Agent to hold the shares of Common Stock reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor promptly upon Investor's delivery of a conversion 5 notice under the Note. Note or a notice of exercise under any Warrant. Finally, Company shall require the Transfer Agent to issue shares of Common Stock pursuant to the Note and the Warrants to Investor out of its authorized and unissued shares, and not the Share Reserve, to the extent shares of Common Stock have been authorized, but not issued, and are not included in the Share Reserve. The Transfer Agent shall only issue shares out of the Share Reserve to the extent there are no other authorized shares available for issuance and then only with Investor's written consent. View More
