Common use of Establishment of Series and Classes of Shares Clause in Contracts

Establishment of Series and Classes of Shares. (a) The establishment and designation of any series or Class of Shares of the Company shall be effective upon the adoption by a majority of the then Directors of a resolution that sets forth such establishment and designation and the relative rights and preferences of such series or Class of the Company, whether directly in such resolution or by reference to another document, including any registration statement of the Company, or as otherwise provided in such resolution (each, a “Share Designation”). (b) Shares of each series or Class of the Company established pursuant to this Article III, unless otherwise provided in the resolution or related documents establishing such series or Class, shall have the following relative rights and preferences:

Establishment of Series and Classes of Shares. (a) The establishment and designation of any series or Class of Shares of the Company shall be effective upon the adoption by a majority of the then Directors of a resolution that sets forth such establishment and designation and the relative rights and preferences of such series or Class of the Company, whether directly in such resolution or by reference to another documentdocument including, including without limitation, any registration statement of the Company, or as otherwise provided in such resolution (each, a “Share Designation”). (b) Shares of each series or Class of the Company established pursuant to this Article III, unless otherwise provided in the resolution or related documents establishing such series or Class, shall have the following relative rights and preferences: