Designation; Rank Sample Clauses

Designation; Rank. This series of preferred stock shall be designated "6% Senior Preferred Stock," par value $.01 per share. The 6% Senior Preferred Stock will rank, upon liquidation, winding-up and dissolution, (i) senior to the Common Stock, the 9% Senior Preferred Stock, the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Mandatory Redeemable Preferred Stock and each other class of capital stock or series of preferred stock established by the Board the terms of which do not expressly provide that such class or series ranks on a parity with the 6% Senior Preferred Stock as to rights upon liquidation, winding-up and dissolution (collectively referred to as "Junior Securities"); (ii) on a parity with each other class of capital stock or series of preferred stock established by the Board the terms of which expressly provide that such class or series will rank on a parity with the 6% Senior Preferred Stock as to rights upon liquidation, winding-up and dissolution (collectively referred to as "Parity Securities"); and (iii) junior to each class of capital stock or series of preferred stock 20 established by the Board the terms of which expressly provide that such class or series will rank senior to the 6% Senior Preferred Stock (the "Senior Securities"). As of the date hereof, there are no Parity Securities or Senior Securities. With respect to dividends or distributions, the 6% Senior Preferred Stock will rank (i) senior to the Junior Securities and any other Junior Dividend Securities; (ii) on parity with the Parity Securities and any Parity Dividend Securities; and (iii) junior to the Senior Securities and any Senior Dividend Securities. The Company will have the right to issue shares of Junior Securities and Junior Dividend Securities without the approval or consent of the holders of 6% Senior Preferred Stock. The Company will not have the right to issue shares of Senior Securities, Parity Securities, Parity Dividend Securities or Senior Dividend Securities without the prior consent of at least a majority-in-interest of the holders of 6% Senior Preferred Stock.

Designation; Rank. This series of Preferred Stock shall be designated and known as Series B Preferred Stock. The number of shares constituting the Series B Preferred Stock shall be 120,000 shares. Except as otherwise provided herein, the Series B Preferred Stock shall, with respect to rights on liquidation, winding up and dissolution, rank senior to the common stock, par value $0.001 per share (the Common Stock ) and any previously issued classes of capital stock of the Company (the Junior Securities ).

Designation; Rank. This series of cumulative convertible Preferred Stock shall be designated and known as the "SERIES C PREFERRED STOCK." The number of shares constituting the Series C Preferred Stock shall be 125,000 shares. The Series C Preferred Stock shall, with respect to rights upon liquidation, dissolution or winding up, whether voluntary or involuntary, rank equal to the Series A Preferred Stock and the Series B Preferred Stock, and prior to the common stock of the Company, par value $.01 per share (the "COMMON STOCK").

Designation; Rank. This series of Preferred Stock shall be designated the "Class B Preferred Stock," with a par value of $0.01 per share. The Class B Preferred Stock will rank, with respect to rights on liquidation, winding-up and dissolution, (i) senior to all classes of Common Stock of the Corporation, as they exist on the date hereof or as such stock may be constituted from time to time, and each other class of Capital Stock or class or series of Preferred Stock established by the Board of Directors to the extent the terms of such stock do not expressly provide that it ranks on a parity with the Class B Preferred Stock as to rights on liquidation, winding-up and dissolution (collectively, together with the Common Stock, the "Class B Junior Securities"); (ii) on a parity with each class of Capital Stock or class or series of Preferred Stock established by the Board of Directors to the extent the terms of such stock expressly provide that it will rank on a parity with the Class B Preferred Stock as to rights on liquidation, winding-up and dissolution (collectively, the "Class B Parity Securities"); and (iii) junior to each other class of Capital Stock or class or series of Preferred Stock established by the Board of Directors to the extent the terms of such stock expressly provide that it will rank senior to the Class B Preferred Stock as to rights on liquidation, winding-up and dissolution (collectively, the "Class B Senior Securities").

Designation; Rank. This series of Preferred Stock shall be designated and known as “Series D Preferred Stock.” The number of shares constituting the Series D Preferred Stock shall be six hundred and one hundred thousand (100,000) shares. The Series D Preferred Stock shall be subordinate to and rank junior to all indebtedness of the Corporation now or hereafter outstanding.

Designation; Rank. (a) The distinctive serial designation of the series of Class C Preferred Stock is “Series F Redeemable Class C Preferred Stock” (“Series F”). (b) With respect to the distribution of assets upon liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, the share of Series F shall rank senior to the Common Stock and shall rank junior to the Corporation’s Series B 12% Cumulative Convertible Preferred Stock, Series D 6% Cumulative Convertible Class C Preferred Stock, Series 4 Junior Participating Class C Preferred Stock, Series E Cumulative Redeemable Class C Preferred Stock and any other class or series of stock of the Corporation hereafter created (subject to Section 9(b)) that specifically ranks senior to the Series F.

Designation; Rank. (a) The distinctive serial designation of such series of Class C Preferred Stock is “Series E Cumulative Redeemable Class C Preferred Stock” (“Series E”). (b) With respect to the payment of dividends and distribution of assets upon liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, all shares of Series E shall rank (i) senior to all Junior Stock, (ii) on a parity with the other shares of Series E and any other class or series of stock of the Corporation (other than Series E) hereafter created (subject to Section 9(b)) that specifically ranks pari passu to Series E and (iii) junior to any other class or series of stock of the Corporation hereafter created (subject to Section 9(b)) that specifically ranks senior to Series E.

Designation; Rank. This series of Preferred Stock shall be designated and known as Series E Preferred Stock. The number of shares constituting the Series E Preferred Stock shall be eighty thousand (80,000) shares. The Series E Preferred Stock shall be subordinate to and rank junior to all indebtedness of the Corporation now or hereafter outstanding.

Designation; Rank. (a) A series of Partnership Units in the Partnership designated as the "10.5% Series A Preferred Units" (the "Series A Preferred Units") is hereby established. The maximum number of Series A Preferred Units shall be 350,000. (b) The Series A Preferred Units shall rank (i) senior to any class of Partnership Units of the Partnership whether or not existing on the date hereof, which shall include, without limitation, all Partnership Units outstanding as of the date hereof and any other class or series of Partnership Units, either specifically ranking by the terms thereof junior to the Series A Preferred Units or not specifically ranking by their terms senior to or on parity with the Series A Preferred Units (collectively, the "Junior Units"), (ii) on parity with any class or series of Partnership Units specifically ranking by their terms on parity with the Series A Preferred Units, and (iii) junior to any class or series of Partnership Units specifically ranking by their terms senior to the Series A Preferred Units, in each case, as to payment of distributions, voting, distributions of assets upon liquidation, dissolution or winding-up, whether voluntary or involuntary, or otherwise. (c) In connection with the issuance of the Series A Preferred Units to CHP, for purposes of making allocations of Net Profit and Net Loss, the Partnership shall be deemed to make an election to cause an "interim closing" of the Partnership's books as permitted by Section 706 of the Code and the Regulations thereunder.