Common use of Designation of Series of Preferred Stock Clause in Contracts

Designation of Series of Preferred Stock. Of the 10,000,000 shares of preferred stock which the Corporation is authorized to issue pursuant to its Articles of Incorporation, 3,000,000 of such shares are designated as shares of Series A Convertible Preferred Stock of the Corporation, par value $.01 per share (“Series A Preferred”). Shares of Series A Preferred shall have a stated value of $3.00 per share (the “Stated Value”). Such shares of Series A Preferred, together with the 90,000,000 shares of authorized common stock of the Corporation, the remaining balance of the undesignated shares of preferred stock of the Corporation and any other common stock or preferred stock that may hereafter be authorized in or pursuant to the Articles of Incorporation of the Corporation, are sometimes hereinafter collectively referred to as the “capital stock.”

Designation of Series of Preferred Stock. Of the 10,000,000 shares of preferred stock which the Corporation is authorized to issue pursuant to its Articles of Incorporation, 3,000,000 of such shares are designated as shares of Series A Convertible Preferred Stock of the Corporation, par value $.01 per share (“"Series A Preferred”"). Shares of Series A Preferred shall have a stated value of $3.00 per share (the “"Stated Value”"). Such shares of Series A Preferred, together with the 90,000,000 shares of authorized common stock of the Corporation, the remaining balance of the undesignated shares of preferred stock of the Corporation and any other common stock or preferred stock that may hereafter be authorized in or pursuant to the Articles of Incorporation of the Corporation, are sometimes hereinafter collectively referred to as the “"capital stock.”"

Designation of Series of Preferred Stock. Of the 10,000,000 shares of preferred stock which the Corporation is authorized to issue pursuant to its Articles of Incorporation, 3,000,000 2,000 of such shares are hereby designated as shares of Series A Convertible Redeemable Preferred Stock of the Corporation, par value $.01 0.01 per share (“Series A Redeemable Preferred”). Shares of Series A Redeemable Preferred shall have a stated value of $3.00 1,000 per share (the “Stated Value”). Such shares of Series A Redeemable Preferred, together with the 3,000,000 shares of Series A Convertible Preferred Stock (the “Series A”), 90,000,000 shares of authorized common stock of the Corporation, the remaining balance of the 6,998,000 undesignated shares of preferred stock of the Corporation and any other common stock or preferred stock that may hereafter be authorized in or pursuant to the Articles of Incorporation of the Corporation, are sometimes hereinafter collectively referred to as the “capital stock.”