Reservation of Shares Clause Example from Business Contracts

Reservation of Shares. On the date hereof, Company will reserve 6,000,000 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 as and when reasonably 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 1.5 times the number of shares of Common Stock obtained by divi...ding the Outstanding Balance (as defined in the Note) as of the date of the request by the Conversion Price (as defined in the Note). View More