Description of MFC Series B Preferred Stock. The MFC Series B Preferred Stock to be issued to Cardinal shareholders will be non-cumulative, nonparticipating, convertible preferred stock of MFC that will have terms (including the stated dividend), relative rights, voting rights, preferences and limitations substantially the same as are described in Exhibit B to this Agreement.
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Samples: Agreement and Plan of Reorganization and Merger (Cardinal Bankshares Corp), Agreement and Plan of Reorganization and Merger (Mountainbank Financial Corp)
Description of MFC Series B Preferred Stock. The MFC Series B Preferred Stock to be issued to Cardinal shareholders will be non-cumulative, nonparticipating, convertible preferred stock of MFC that will have terms (including the stated dividend), relative rights, voting rights, preferences and limitations substantially the same as are described in Exhibit B to this AgreementMFC’s Articles of Incorporation, as amended.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization and Merger (Mountainbank Financial Corp), Agreement and Plan of Reorganization and Merger (Cardinal Bankshares Corp)
Description of MFC Series B Preferred Stock. The MFC Series B Preferred Stock to be issued to Cardinal shareholders will be non-cumulative, nonparticipating, convertible preferred stock of MFC that will have terms (including the stated dividend), relative rights, voting rights, preferences and limitations substantially the same as are described in Exhibit MFC's Articles of Incorporation, as amended. Each share of Series B to this AgreementPreferred Stock will have the same voting rights as shares of MFC Common Stock.
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Description of MFC Series B Preferred Stock. The MFC Series B Preferred Stock to be issued to Cardinal shareholders will be non-cumulative, nonparticipating, convertible preferred stock of MFC that will have terms (including the stated dividend), relative rights, voting rights, preferences and limitations substantially the same as are described in Exhibit B to this Agreement. Each share of Series B Preferred Stock will have the same voting rights as shares of MFC Common Stock.
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