Common use of Designation and Rank Clause in Contracts

Designation and Rank. The designation of such series of the Preferred Stock shall be the Series A Preferred Stock, par value $0.001 per share (the "Series A Preferred Stock"). The maximum number of shares of Series A Preferred Stock shall be 50,000,000. The Series A Preferred Stock shall rank senior to the Company's common stock, par value $0.001 per share (the "Common Stock"), and to all other classes and series of equity securities of the Company which by their terms do not rank senior to the Series A Preferred Stock ("Junior Stock"). The Series A Preferred Stock shall be subordinate to and rank junior to all indebtedness of the Company now or hereafter outstanding.

Appears in 1 contract

Samples: Settlement Agreement (Lithium Exploration Group, Inc.)

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Designation and Rank. The designation of such series of the Preferred Stock shall be the Series A M Convertible Preferred Stock, par value $0.001 0.0001 per share (the "Series A M Preferred Stock"). The maximum number of shares of Series A M Preferred Stock shall be 50,000,000500,000 shares. The Series A M Preferred Stock shall rank senior pari passu to the Company's ’s common stock, par value $0.001 per share (the "Common Stock"), and junior to all other classes and series of equity securities of the Company which by their terms do not rank senior to pari passu, including the Series A Convertible Preferred Stock ("Junior Stock"). The Series A M Preferred Stock shall be subordinate to and rank junior to all indebtedness of the Company now or hereafter outstanding.

Appears in 1 contract

Samples: Share Exchange Agreement (China Wood, Inc.)

Designation and Rank. The designation of such series of the Preferred Stock shall be the Series A Convertible Preferred Stock, par value $0.001 .001 per share (the "Series A Preferred Stock"). The maximum number of shares of Series A Preferred Stock shall be 50,000,000Five Hundred Thousand (500,000) shares. The Series A Preferred Stock shall rank senior prior to the Company's common stock, par value $0.001 .001 per share (the "Common Stock"), and shall rank senior to all other classes and series of equity securities of the Company which that by their terms do not rank senior to the Series A Preferred Stock ("Junior Stock"). The Series A Preferred Stock shall be subordinate to and rank junior to all indebtedness of the Company now or hereafter outstanding.

Appears in 1 contract

Samples: Common Stock Exchange Agreement (VistaGen Therapeutics, Inc.)

Designation and Rank. The designation of such series of the Preferred Stock shall be the Series A Preferred Stock, par value $0.001 per share (the "Series A Preferred Stock"). The maximum number of shares of Series A Preferred Stock shall be 50,000,00010,000,000. The Series A Preferred Stock shall rank senior to the Company's common stock, par value $0.001 per share (the "Common Stock"), and to all other classes and series of equity securities of the Company which by their terms do not rank senior to the Series A Preferred Stock ("Junior Stock"). The Series A Preferred Stock shall be subordinate to and rank junior to all indebtedness of the Company now or hereafter outstanding.

Appears in 1 contract

Samples: Assignment Agreement (Goff, Corp)

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Designation and Rank. The designation A total of such series 215,350 shares of the Preferred Stock shall be the Series A Preferred Stock, $0.001 par value $0.001 per share (the share, shall be designated "Series A B Preferred Stock"). The maximum number of shares of Series A Preferred Stock shall be 50,000,000. The Series A B Preferred Stock shall rank senior (i) prior to the Company's common stock, par value $0.001 .001 per share (the "Common Stock")share, and to all other classes and series of equity securities of the Company Corporation which by their terms do not rank senior to the Series A B Preferred Stock ("Junior Stock")) and (ii) junior to any class or series of equity securities which by its terms shall rank senior to the Series B Preferred, including the Series A Preferred Stock. The Series A B Preferred Stock shall be subordinate to and rank junior to all indebtedness of the Company Corporation now or hereafter outstanding.

Appears in 1 contract

Samples: Asset Purchase Agreement (Information Architects Corp)

Designation and Rank. The designation of such series of the Preferred Stock shall be the Series A Convertible Preferred Stock, par value $0.001 .001 per share (the "Series A Preferred Stock"). The maximum number of shares of Series A Preferred Stock shall be 50,000,000Nineteen Million One Hundred (19,000,100) shares. The Series A Preferred Stock shall rank senior to the Company's ’s common stock, par value $0.001 .001 per share (the "Common Stock"), and to all other classes and series of equity securities of the Company which by their terms do not rank senior to the Series A Preferred Stock ("Junior Stock")Company. The Series A Preferred Stock shall be subordinate to and rank junior to all indebtedness of the Company now or hereafter outstanding.

Appears in 1 contract

Samples: Loan Agreement (White Mountain Titanium Corp)

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