Designated Preferred Stock Clause Samples
The Designated Preferred Stock clause defines a specific class or series of preferred shares that are subject to particular rights, privileges, and obligations within a company's capital structure. This clause typically outlines which shares are considered "designated," often by reference to a schedule or exhibit, and may specify features such as dividend rates, liquidation preferences, or conversion rights. By clearly identifying the relevant preferred stock, the clause ensures that all parties understand which shares are governed by the negotiated terms, thereby preventing ambiguity and disputes regarding shareholder rights.
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Designated Preferred Stock. Preferred Stock of Intermediate Holdings or Holdings or any other Parent Entity, as applicable (other than Excluded Equity), that is issued after the Second Restatement Date for cash and is so designated as Designated Preferred Stock, pursuant to an Officer’s Certificate, on the issuance date thereof, the cash proceeds of which are contributed to the capital of Intermediate Holdings (if issued by Holdings or any Parent Entity) and excluded from the calculation set forth in Section 10.2.3(a)(3).
Designated Preferred Stock. Subject to Sections 2(a) and 7(b), the holders of outstanding shares of Series A Redeemable Preferred Stock shall be entitled to receive, when, as and if declared by the Board of Directors out of funds legally available therefor, prior to the payment of any dividends on the Common Stock or any other class or series of capital stock ranking with respect to the payment of dividends junior to the Series A Redeemable Preferred Stock, dividends at the rate of six per cent (6%) of the per share purchase price of One Dollar ($1.00) per annum per share of Series A Redeemable Preferred Stock (as adjusted for subsequent stock dividends, stock splits, combinations, recapitalizations or the like with respect to such share) from the date of original issuance of such share, which dividends shall be cumulative and accrue daily in arrears and be compounded annually, whether or not such dividends are declared by the Board of Directors; provided, that upon payment of any dividend in respect of any share of Series A Redeemable Preferred Stock, the Corporation shall simultaneously pay to the holders of Series B Preferred Stock a dividend in an amount equal to the Series B Preferred Participation Percentage of the aggregate amount so paid in respect of the Series A Redeemable Preferred Stock.
Designated Preferred Stock and to the extent actually contributed to the Issuer, Equity Interests of the Issuer’s direct or indirect parent corporations (excluding contributions of the proceeds from the sale of Designated Preferred Stock of such corporations); and
Designated Preferred Stock