Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 18 contracts
Samples: Stockholder Rights Agreement (First Real Estate Investment Trust of New Jersey), Tax Benefits Preservation Agreement (Unwired Planet, Inc.), Shareholder Rights Agreement (Harvard Apparatus Regenerative Technology, Inc.)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $1000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. .
(B) Neither the consolidation, merger or other business combination of the Corporation with or into any other corporation nor the sale, lease, exchange or conveyance of all or any part of the property, assets or business of the Corporation shall be deemed to be a liquidation, dissolution or winding up of the Corporation for purposes of this Section 6.
(C) In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or subdivision, combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence paragraph (A) of this Section 6 shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither In the event the Corporation shall at any time declare or pay any dividend on the Series A Preferred Stock payable in shares of Series A Preferred Stock, or effect a subdivision, combination or consolidation of nor merging the outstanding shares of Series A Preferred Stock (by reclassification or otherwise than by payment of a dividend in shares of Series A Preferred Stock) into a greater or lesser number of shares of Series A Preferred Stock, then in each such case the Corporation with or into any other corporation or corporations, nor aggregate amount to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the sale or other transfer proviso in clause (1) of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning paragraph (A) of this Section 66 shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of Series A Preferred Stock that were outstanding immediately prior to such event and the denominator of which is the number of shares of Series A Preferred Stock outstanding immediately after such event.
Appears in 17 contracts
Samples: Rights Agreement (BJS Wholesale Club Inc), Rights Agreement (BJS Wholesale Club Inc), Rights Agreement (Penwest Pharmaceuticals Co)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received a minimum of $100.00 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 7 contracts
Samples: Rights Agreement (Farmers & Merchants Bancorp), Rights Agreement (Farmers & Merchants Bancorp), Rights Agreement (Farmers & Merchants Bancorp)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Participating Preferred Stock unless, prior thereto, the holders of shares of Series A Participating Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000 per share, provided that in the event the Corporation does not have sufficient assets, after payment of its liabilities and distribution to holders of Preferred Stock ranking prior to the Series A Participating Preferred Stock, available to permit payment in full of the $1,000 per share amount, the amount required to be paid under this Section 6(A)(1) shall, subject to Section 6(B) hereof, equal the value of the amount of available assets divided by the number of outstanding shares of Series A Participating Preferred Stock or (2) an aggregate amount per share, subject to the provision provisions for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate per share amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity Common Stock (either as to dividends the greater of (1) or upon liquidation(2), dissolution or winding up) with the "Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding upLiquidation Preference"). In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, (ii) subdivide the outstanding Common Stock, or (iiiii) effect a subdivision or combination or consolidation of combine the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) Common Stock into a greater or lesser smaller number of shares of common stockshares, then in each such case the aggregate amount per share to which holders of shares of Series A Participating Preferred Stock were entitled immediately prior to such event under clause (x2) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock that were outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither .
(B) In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporations, nor Series A Liquidation Preference and the sale or other transfer liquidation preferences of all or substantially all other series of Preferred Stock, if any, which rank on a parity with the Series A Participating Preferred Stock, then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of the Corporation within the meaning of this Section 6such parity shares in proportion to their respective liquidation preferences.
Appears in 7 contracts
Samples: Preferred Shares Rights Agreement (Looksmart LTD), Preferred Shares Rights Agreement (Rita Medical Systems Inc), Preferred Shares Rights Agreement (Celebrate Express, Inc.)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of shares of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on shares of common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 6 contracts
Samples: Shareholder Rights Agreement (Summit Properties Inc), Shareholder Rights Agreement (Shelbourne Properties Iii Inc), Shareholder Rights Agreement (Interstate Hotels Co)
Liquidation, Dissolution or Winding Up. (a) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, thereon to the date of such payment, plus an amount equal to payment (the greater of "Series A Liquidation Preference") and (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 the product of 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall shall, at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock (and an equivalent dividend is not declared on the Series A Preferred Stock or the Series A Preferred Stock is not similarly subdivided or combined), then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither .
(b) In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporations, nor Series A Liquidation Preference and the sale or other transfer liquidation preferences of all or substantially all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of the Corporation within the meaning of this Section 6Series A Preferred Stock and such parity shares in proportion to their respective liquidation preferences.
Appears in 6 contracts
Samples: Rights Agreement (Crossroads Systems Inc), Rights Agreement (QRS Corp), Rights Agreement (Valueclick Inc/Ca)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (xA) to the holders of the Common Stock or of shares of any other stock of the Company ranking junior (either as to dividends or upon liquidation, dissolution or winding up) up to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 6 contracts
Samples: Rights Agreement (Royal Gold Inc), Rights Agreement (Ciber Inc), Rights Agreement (Interstate Bakeries Corp/De/)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 6 contracts
Samples: Shareholder Rights Agreement (Anika Therapeutics Inc), Shareholder Rights Agreement (Courier Corp), Shareholder Rights Agreement (Andover Bancorp Inc)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. .
(B) Neither the consolidation, merger or other business combination of the Corporation with or into any other corporation nor the sale, lease, exchange or conveyance of all or any part of the property, assets or business of the Corporation shall be deemed to be a liquidation, dissolution or winding up of the Corporation for purposes of this Section 6.
(C) In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or subdivision, combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence paragraph (A) of this Section 6 shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither In the event the Corporation shall at any time declare or pay any dividend on the Series A Preferred Stock payable in shares of Series A Preferred Stock, or effect a subdivision, combination or consolidation of nor merging the outstanding shares of Series A Preferred Stock (by reclassification or otherwise than by payment of a dividend in shares of Series A Preferred Stock) into a greater or lesser number of shares of Series A Preferred Stock, then in each such case the Corporation with or into any other corporation or corporations, nor aggregate amount to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the sale or other transfer proviso in clause (1) of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning paragraph (A) of this Section 66 shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of Series A Preferred Stock that were outstanding immediately prior to such event and the denominator of which is the number of shares of Series A Preferred Stock outstanding immediately after such event.
Appears in 5 contracts
Samples: Rights Agreement (Savient Pharmaceuticals Inc), Rights Agreement (Parexel International Corp), Rights Agreement (Momenta Pharmaceuticals Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorporation (voluntary or otherwise), no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount (the “Series A Liquidation Preference”) equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount of all cash or other property to be distributed per share to holders of common stockCommon Stock upon such liquidation, dissolution or winding up of the Corporation, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Liquidation Preference and the liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series A Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series A Preferred Stock and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 5 contracts
Samples: Stockholder Rights Agreement (Magenta Therapeutics, Inc.), Stockholder Rights Agreement (Sensei Biotherapeutics, Inc.), Stockholder Rights Agreement (Biofrontera Inc.)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 5 contracts
Samples: Shareholder Rights Agreement (Mercury Computer Systems Inc), Shareholder Rights Agreement (Wyman Gordon Co), Shareholder Rights Agreement (Burnham Pacific Properties Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the CorporationCompany, no distribution shall may be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Shares unless, prior thereto, the holders of shares of Series A Preferred Stock Shares shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockCommon Shares, or (y) to the holders of stock shares ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockShares, except distributions made ratably on the Series A Preferred Stock Shares and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In If the event the Corporation shall Company at any time after the Rights Declaration Date (i) declare declares or pay pays any dividend on common stock Common Shares payable in shares of common stockCommon Shares, or (ii) effect effects a subdivision or combination or consolidation of the outstanding shares of common stock Common Shares (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Shares) into a greater or lesser number of shares of common stockCommon Shares, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock Shares were entitled immediately prior to such event under clause (x) of the preceding sentence shall will be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Shares that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation Company with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the CorporationCompany, shall will be deemed considered to be a liquidation, dissolution or winding up of the Corporation Company within the meaning of this Section 6paragraph (d).
Appears in 5 contracts
Samples: Shareholder Rights Agreement (Morgans Foods Inc), Shareholder Rights Agreement (Morgans Foods Inc), Shareholder Rights Agreement (Morgans Foods Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorporation (voluntary or otherwise), no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount (the “Series A Liquidation Preference”) equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount of all cash or other property to be distributed per share to holders of common stockstock upon such liquidation, dissolution or winding up of the Corporation, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Liquidation Preference and the liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series A Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series A Preferred Stock and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 4 contracts
Samples: Shareholder Rights Agreement (Albany Molecular Research Inc), Shareholder Rights Agreement (Circor International Inc), Shareholder Rights Agreement (Mac-Gray Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorpo- ration, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus provided that the holders of shares of Series A Preferred Stock shall be entitled to receive an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate ag- gregate amount per share, subject to the provision for adjustment ad- justment hereinafter set forth, equal to 10,000 100 times the aggregate ag- gregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion propor- tion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination combina- tion or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Pre- ferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator de- nominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 3 contracts
Samples: Rights Agreement (Fisher Scientific International Inc), Rights Agreement (Tribune Co), Rights Agreement (Alden John Financial Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (xA) to the holders of the Common Stock or of shares of any other stock of the Company ranking junior (either as to dividends or upon liquidation, dissolution or winding up) up to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 3 contracts
Samples: Rights Agreement (Dynamic Materials Corp), Rights Agreement (Ciber Inc), Rights Agreement (Ciber Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made to:
(xa) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (i) $1.00 per share ($.01 per one one-hundredth of a share), plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2ii) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stock, or shares of Common Stock; or
(yb) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event that the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockotherwise) into a greater or lesser number of shares of common stock'Common Stock, then and in each such case event, the aggregate amount per share to which holders the holder of shares each share of Series A Preferred Stock were was entitled immediately prior to such event under the proviso in clause (xa) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event event, and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 3 contracts
Samples: Rights Agreement (California Amplifier Inc), Rights Agreement (CalAmp Corp.), Rights Agreement (California Amplifier Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A E Preferred Stock unless, prior thereto, the holders of shares of Series A E Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A E Preferred Stock, except distributions made ratably on the Series A E Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A E Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 3 contracts
Samples: Shareholder Rights Agreement (Cognex Corp), Shareholder Rights Agreement (Dov Pharmaceutical Inc), Shareholder Rights Agreement (Boston Properties Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xA) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Junior Preferred Stock unless, prior thereto, the holders of shares of Series A Junior Preferred Stock shall have received $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Junior Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Junior Preferred Stock, except distributions made ratably on the Series A Junior Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Junior Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Jason Industries, Inc.), Rights Agreement (Jason Industries, Inc.)
Liquidation, Dissolution or Winding Up. Upon any liquidation (-------------------------------------- voluntary or otherwise)involuntary liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, payment plus an amount equal to the greater of (1a) $10,000.00 85.00 per share or and (2b) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockCommon Stock of the Corporation, or (y2) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total full preferential amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock of the Corporation payable in shares of common stocksuch Common Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock of the Corporation (by reclassification or otherwise than by payment of a dividend in shares of common stocksuch Common Stock) into a greater or lesser number of shares of common stockCommon Stock, then in for each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the provisions in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock of the Corporation outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock of the Corporation that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Modine Manufacturing Co), Rights Agreement (Modine Manufacturing Co)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 one thousand (1,000) times the aggregate amount to be distributed per share to holders of common stock, shares of Common Stock or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event event, and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Quintiles Transnational Corp), Rights Agreement (Quintiles Transnational Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A C Preferred Stock unless, prior thereto, the holders of shares of Series A C Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not authorized or declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series C Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A C Preferred Stock, except distributions made ratably on the Series A C Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Board of Directors or the Corporation shall at any time after the Rights Declaration Date (i) authorize, declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A C Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Highwoods Properties Inc), Rights Agreement (Highwoods Properties Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Shareholder Rights Agreement (Anika Therapeutics Inc), Shareholder Rights Agreement (Anika Therapeutics Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (xA) to the holders of the Common Stock or of shares of any other stock of the Company ranking junior (either as to dividends or junior, upon liquidation, dissolution or winding up) , to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not earned or declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) March 3, 1997 declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Emcor Group Inc), Rights Agreement (Emcor Group Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution -------------------------------------- or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A AA Preferred Stock unless, prior thereto, the holders of shares of Series A AA Preferred Stock shall have received $100.00 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series AA Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A AA Preferred Stock, except distributions made ratably on the Series A AA Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A AA Preferred Stock were entitled immediately prior to such event under the provision in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Ribozyme Pharmaceuticals Inc), Rights Agreement (Ribozyme Pharmaceuticals Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (x1) to the holders of the Company Common Stock or of shares of any other stock of the Company ranking junior (either as to dividends or junior, upon liquidation, dissolution or winding up) , to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received an amount equal to the greater of (i) $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not earned or declared, to the date of such payment, plus an amount equal to the greater of payment and (1) $10,000.00 per share or (2ii) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Class B Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) Effective Time, declare or pay any dividend on common stock the Class B Common Stock payable in shares of common stockClass B Common Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Class B Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockClass B Common Stock) into a greater or lesser number of shares of common stockClass B Common Stock, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Class B Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Class B Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Curtiss Wright Corp), Rights Agreement (Curtiss Wright Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation -------------------------------------- (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Z Preferred Stock unless, prior thereto, the holders of shares of Series A Z Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockCommon Stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Z Preferred Stock, except distributions made ratably on the Series A Z Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Z Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6C.6.
Appears in 2 contracts
Samples: Shareholder Rights Agreement (Cypress Communications Inc), Shareholder Rights Agreement (Cypress Communications Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares 51 of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Shareholder Rights Agreement (Brooktrout Technology Inc), Shareholder Rights Agreement (Brooktrout Technology Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xa) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A B Preferred Stock Shares unless, prior thereto, the holders of shares of Series A B Preferred Stock Shares shall have received the greater of (i) $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2ii) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 one hundred (100) times the aggregate amount to be distributed per share to holders of common stockCommon Shares, or (yb) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A B Preferred StockShares, except distributions made ratably on the Series A B Preferred Stock Shares and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) August 15, 1997 declare or pay any dividend on common stock the Common Shares payable in shares of common stockCommon Shares, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Shares (by reclassification or otherwise than by payment of a dividend in shares of common stockotherwise) into a greater or lesser number of shares of common stockCommon Shares, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock Shares were entitled immediately prior to such event under clause (xa)(ii) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Shares that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Share Rights Agreement (Secure Computing Corp), Share Rights Agreement (Secure Computing Corp)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, voluntary or otherwise no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount per share (the “Series A Preferred Liquidation Preference”) equal to $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockCommon Stock, or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockPreferred, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or subdivision, combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockotherwise) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were are outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Cubic Corp /De/), Rights Agreement
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporationcorporation, no distribution shall be made (xa) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Shares unless, prior thereto, the holders of shares of Series A Preferred Stock Shares shall have received the greater of (i) $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2ii) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 one hundred (100) times the aggregate amount to be distributed per share to holders of common stockCommon Shares, or (yb) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockShares, except distributions made ratably on the Series A Preferred Stock Shares and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation corporation shall at any time after the Rights Declaration Date (i) November 13, 1995 declare or pay any dividend on common stock the Common Shares payable in shares of common stockCommon Shares, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Shares (by reclassification or otherwise than by payment of a dividend in shares of common stockotherwise) into a greater or lesser number of shares of common stockCommon Shares, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock Shares were entitled immediately prior to such event under clause (xa)(ii) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Shares that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Share Rights Agreement (Buffets Inc), Share Rights Agreement (Buffets Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorporation (voluntary or otherwise), no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received an amount (the “Series B Liquidation Preference”) equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount of all cash or other property to be distributed per share to holders of common stockstock upon such liquidation, dissolution or winding up of the Corporation, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the Series B Liquidation Preference and the liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series B Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series B Preferred Stock and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Stockholder Rights Agreement (WisdomTree, Inc.), Stockholder Rights Agreement (WisdomTree Investments, Inc.)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A C-1 Preferred Stock unless, prior thereto, the holders of shares of Series A C-1 Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A C-1 Preferred Stock, except distributions made ratably on the Series A C-1 Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A C-1 Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Shareholder Rights Agreement (Avant Immunotherapeutics Inc), Shareholder Rights Agreement (Avant Immunotherapeutics Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorporation (voluntary or otherwise), no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount (the “Series A Liquidation Preference”) equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount of all cash or other property to be distributed per share to holders of common stockCommon Stock upon such liquidation, dissolution or winding up of the Corporation, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Liquidation Preference and the liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series A Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series A Preferred Stock and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Tax Benefits Preservation Rights Agreement (Sed International Holdings Inc), Tax Benefits Preservation Rights Agreement (Capital Trust Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Shareholder Rights Agreement (Zoll Medical Corp), Shareholder Rights Agreement (Bradlees Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to the accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to the holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than reclassification, by payment of a dividend in shares of common stockstock or otherwise) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which the holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Stockholders’ Rights Agreement (Great Elm Group, Inc.), Stockholders’ Rights Agreement (Great Elm Capital Group, Inc.)
Liquidation, Dissolution or Winding Up. Upon any liquidation -------------------------------------- (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Shareholder Rights Agreement (Mac-Gray Corp), Shareholder Rights Agreement (Mac-Gray Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xA) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Record Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Hudson Highland Group Inc), Rights Agreement (Bucyrus International Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Junior Participating Preferred Stock unless, prior thereto, the holders of shares of Series A Junior Participating Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 10,000 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Junior Participating Preferred Stock, except distributions made ratably on the Series A Junior Participating Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Junior Participating Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Wits Basin Precious Minerals Inc), Rights Agreement (El Capitan Precious Metals Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the CorporationCompany, no distribution shall be made (xa) to the holders of shares of stock share capital ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Shares unless, prior thereto, the holders of shares of Series A Preferred Stock shall Shares have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockOrdinary Shares, or (yb) to the holders of stock share ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockShares, except distributions made ratably on the Series A Preferred Stock Shares and all other such parity stock share in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall Company at any time after the Rights Declaration Date (i) declare declares or pay pays any dividend on common stock Ordinary Shares payable in shares of common stockOrdinary Shares, or (ii) effect effects a subdivision or combination or consolidation of the outstanding shares of common stock Ordinary Shares (by reclassification or otherwise than by payment of a dividend in shares of common stockOrdinary Shares) into a greater or lesser number of shares of common stockOrdinary Shares, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock Shares were entitled immediately prior to such event under clause (xa) of the preceding sentence this paragraph shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Ordinary Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock Ordinary Shares that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the liquidation preference provided for above and the liquidation preferences of all other classes and series of share of the Company, if any, that rank on a parity with the Series A Preferred Shares in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series A Preferred Shares and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation Company with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the CorporationCompany, shall be deemed to be a liquidation, dissolution or winding up of the Corporation Company within the meaning of this Section 6.
Appears in 2 contracts
Samples: Shareholders’ Rights Agreement (Sohu.com LTD), Shareholders’ Rights Agreement (Sohu.com LTD)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xA) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Record Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Hudson Global, Inc.), Rights Agreement (Hudson Global, Inc.)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received Ten Thousand Dollars ($10,000) per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event.
(B) In the event, however, that there are not sufficient assets available to permit payment in full to the Series A Liquidation Preference and the liquidation preferences of all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets shall be distributed ratably to the holders of such parity shares in proportion to their respective liquidation preferences. Neither In the consolidation of nor merging of event, however, that there are not
(C) In the event the Corporation with shall at any time after the Rights Declaration Date (i) declare any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into any other corporation or corporationsa smaller number of shares, nor then in each such case the sale or other transfer of all or substantially all of the assets of the Corporation, Adjustment Number in effect immediately prior to such event shall be deemed adjusted by multiplying such Adjustment Number by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6such event.
Appears in 2 contracts
Samples: Rights Agreement (Cisco Systems Inc), Rights Agreement (Cisco Systems Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (xA) to the holders of the Common Stock or of shares of any other stock of the Company ranking junior (either as to dividends or junior, upon liquidation, dissolution or winding up) , to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not earned or declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment ad- justment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion pro- portion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) April 20, 1998 declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Associates First Capital Corp), Rights Agreement (Associates First Capital Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorpo- ration, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus provided that the holders of shares of Series A Preferred Stock shall be entitled to receive an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate ag- gregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate ag- gregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion propor- tion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination combina- tion or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Pre- ferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the A-4 denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Stride Rite Corp), Rights Agreement (Stride Rite Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (xA) to the holders of the Common Stock or of shares of any other stock of the Company ranking junior (either as to dividends or junior, upon liquidation, dissolution or winding up) , to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $1000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not earned or declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) February 9, 1996 declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 2 contracts
Samples: Rights Agreement (Cadence Design Systems Inc), Rights Agreement (Cadence Design Systems Inc)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Participating Preferred Stock unless, prior thereto, the holders of shares of Series A Participating Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000 per share, provided that in the event the Corporation does not have sufficient assets, after payment of its liabilities and distribution to holders of Preferred Stock ranking prior to the Series A Participating Preferred Stock, available to permit payment in full of the $1,000 per share amount, the amount required to be paid under this Section 6(A)(1) shall, subject to Section 6(B) hereof, equal the value of the amount of available assets divided by the number of outstanding shares of Series A Participating Preferred Stock or (2) an aggregate amount per share, subject to the provision provisions for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate per share amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity Common Stock (either as to dividends the greater of (1) or upon liquidation(2), dissolution or winding up) with the "Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding upLiquidation Preference"). In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, (ii) subdivide the outstanding Common Stock, or (iiiii) effect a subdivision combine or combination or consolidation of consolidate the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) Common Stock into a greater or lesser smaller number of shares of common stockshares, then in each such case the aggregate amount per share to which holders of shares of Series A Participating Preferred Stock were entitled immediately prior to such event under clause (x2) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock that were outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither .
(B) In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporations, nor Series A Liquidation Preference and the sale or other transfer liquidation preferences of all or substantially all other series of Preferred Stock, if any, which rank on a parity with the Series A Participating Preferred Stock, then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of the Corporation within the meaning of this Section 6such parity shares in proportion to their respective liquidation preferences.
Appears in 2 contracts
Samples: Rights Agreement, Preferred Shares Rights Agreement (Ap Pharma Inc /De/)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xa) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Shares unless, prior thereto, the holders of shares of Series A Preferred Stock Shares shall have received the greater of (i) $1.00 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2ii) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 one hundred (100) times the aggregate amount to be distributed per share to holders of common stockCommon Stock, or (yb) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockShares, except distributions made ratably on the Series A Preferred Stock Shares and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event If the Corporation shall at any time after the Rights Declaration Date (i) August 8, 2005 declare or pay any dividend on common stock the shares of Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockotherwise) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock Shares were entitled immediately prior to before such event under clause (xa)(ii) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to before such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Rights Agreement (Entegris Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (xA) to the holders of the Common Stock or of shares of any other stock of the Company ranking junior (either as to dividends or junior, upon liquidation, dissolution or winding up) , to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not earned or declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series B Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) February 10, 2000 declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. (a) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, thereon to the date of such payment, plus an amount equal to payment (the greater of “Series A Liquidation Preference”) and (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) November 26, 2001 declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither .
(b) In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporations, nor Series A Liquidation Preference and the sale or other transfer liquidation preferences of all or substantially all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of the Corporation within the meaning of this Section 6Series A Preferred Stock and such parity shares in proportion to their respective liquidation preferences.
Appears in 1 contract
Samples: Rights Agreement (United Online Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation -------------------------------------- (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Shareholder Rights Agreement (Circor International Inc)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Stock, unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $100.00 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of and (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to the holders of common stock, shares of Common Stock or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. .
(B) In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under pursuant to clause (xi)(y) of the preceding sentence paragraph (A) of this Section 6 shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred B Stock unless, prior thereto, the holders of shares of Series A Preferred B Stock shall have received $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series B Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Existing Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred B Stock, except distributions made ratably proportionally on the Series A Preferred B Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Existing Common Stock payable in shares of common stockExisting Common Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Existing Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockExisting Common Stock) into a greater or lesser number of shares of common stockExisting Common Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred B Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Existing Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Existing Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Rights Agreement (Capital Gold Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution distributions shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 100.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts amount to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date date hereof (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Merger Agreement (Xoma Arizona Inc)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Participating Preferred Stock unless, prior thereto, the holders of shares of Series A Participating Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000 per share, provided that in the event the Corporation does not have sufficient assets, after payment of its liabilities and distribution to holders of Preferred Stock ranking prior to the Series A Participating Preferred Stock, available to permit payment in full of the $1,000 per share amount, the amount required to be paid under this Section 6(A)(1) shall, subject to Section 6(B) hereof, equal the value of the amount of available assets divided by the number of outstanding shares of Series A Participating Preferred Stock or (2) an aggregate amount per share, subject to the provision provisions for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate per share amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity Common Stock (either as to dividends the greater of (1) or upon liquidation(2), dissolution or winding up) with the "Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding upLiquidation Preference"). In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, (ii) subdivide -40- the outstanding Common Stock, or (iiiii) effect a subdivision or combination or consolidation of combine the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) Common Stock into a greater or lesser smaller number of shares of common stockshares, then in each such case the aggregate amount per share to which holders of shares of Series A Participating Preferred Stock were entitled immediately prior to such event under clause (x2) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock that were outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither .
(B) In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporations, nor Series A Liquidation Preference and the sale or other transfer liquidation preferences of all or substantially all other series of Preferred Stock, if any, which rank on a parity with the Series A Participating Preferred Stock, then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of the Corporation within the meaning of this Section 6such parity shares in proportion to their respective liquidation preferences.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xa) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Shares unless, prior thereto, the holders of shares of Series A Preferred Stock Shares shall have received the greater of (i) $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2ii) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 one hundred (100) times the aggregate amount to be distributed per share to holders of common stockCommon Shares, or (yb) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockShares, except distributions made ratably on the Series A Preferred Stock Shares and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) June 30, 1998 declare or pay any dividend on common stock the Common Shares payable in shares of common stockCommon Shares, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Shares (by reclassification or otherwise than by payment of a dividend in shares of common stockotherwise) into a greater or lesser number of shares of common stockCommon Shares, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock Shares were entitled immediately prior to such event under clause (xa)(ii) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Shares that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received One Thousand Dollars ($1,000) per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event.
(B) In the event, however, that there are not sufficient assets available to permit payment in full to the Series A Liquidation Preference and the liquidation preferences of all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets shall be distributed ratably to the holders of such parity shares in proportion to their respective liquidation preferences. Neither In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporationsCommon Adjustment, nor the sale or other transfer of all or substantially all of the then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of Common Stock.
(C) In the event the Corporation within shall at any time after the meaning Rights Declaration Date (i) declare any dividend on Common Stock payable in shares of this Section 6Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.
Appears in 1 contract
Samples: Rights Agreement (Synbiotics Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the CorporationCompany, no distribution shall may be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series 1999-A Cumulative Preferred Stock unless, prior thereto, the holders of shares of Series 1999-A Cumulative Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share share, or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockCommon Stock, or (y) to the holders of stock shares ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series 1999-A Cumulative Preferred Stock, except distributions made ratably on the Series 1999-A Cumulative Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In If the event the Corporation shall Company at any time after the Rights Declaration Date (i) declare declares or pay pays any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect effects a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series 1999-A Cumulative Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall will be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were Common Stock outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation Company with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the CorporationCompany, shall will be deemed considered to be a liquidation, dissolution or winding up of the Corporation Company within the meaning of this Section 6paragraph (d).
Appears in 1 contract
Samples: Stockholder Rights Agreement (Captec Net Lease Realty Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, -------------------------------------- dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Junior Preferred Stock unless, prior thereto, the holders of shares of Series A Junior Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Junior Preferred Stock shall be entitled to receive, to the extent greater of (1) $10,000.00 per share or (2) than the foregoing, an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Junior Preferred Stock, except distributions made ratably on the Series A Junior Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Junior Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Annual Report
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the CorporationCompany, no distribution shall may be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A I Preferred Stock Shares unless, prior thereto, the holders of shares of Series A I Preferred Stock Shares shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stockCommon Shares, or (y) to the holders of stock shares ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A I Preferred StockShares, except distributions made ratably on the Series A I Preferred Stock Shares and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In If the event the Corporation shall Company at any time after the Rights Declaration Date (i) declare declares or pay pays any dividend on common stock Common Shares payable in shares of common stockCommon Shares, or (ii) effect effects a subdivision or combination or consolidation of the outstanding shares of common stock Common Shares (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Shares) into a greater or lesser number of shares of common stockCommon Shares, then in each such case the aggregate amount per share to which holders of shares of Series A I Preferred Stock Shares were entitled immediately prior to such event under clause (x) of the preceding sentence shall will be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Shares that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation Company with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the CorporationCompany, shall will be deemed considered to be a liquidation, dissolution or winding up of the Corporation Company within the meaning of this Section 6paragraph (d).
Appears in 1 contract
Samples: Shareholder Rights Agreement (Developers Diversified Realty Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made to: (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have 40 received the greater of (A) $1.00 per share ($.002 per one five-hundredth of a share), plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2B) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 500 times the aggregate amount to be distributed per share to holders of common stock, shares of Common Stock; or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case event the aggregate amount per share to which holders each holder of shares a share of Series A Preferred Stock were was entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event event, and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not authorized or declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Board of Directors or the Corporation shall at any time after the Rights Declaration Date (i) authorize, declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A A-1 Preferred Stock unless, prior thereto, the holders of shares of Series A A-1 Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A A-1 Preferred Stock, except distributions made ratably on the Series A A-1 Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A A-1 Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. (a) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, thereon to the date of such payment, plus an amount equal to payment (the greater of "Series A Liquidation Preference") and (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall shall, at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock (and an equivalent dividend is not declared on the Series A Preferred Stock or the Series A Preferred Stock is not similarly subdivided or combined), then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither .
(b) In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporations, nor Series A Liquidation Preference and the sale or other transfer liquidation preferences of all or substantially all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of the Corporation within the meaning of this Section 6Series A Preferred Stock and such parity shares in proportion to their respective liquidation preferences.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.the
Appears in 1 contract
Samples: Shareholder Rights Agreement (Albany Molecular Research Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, -------------------------------------- dissolution or winding up of the Corporation, no distribution shall be made to: (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received the greater of (A) $100.00 per share ($1.00 per one one-hundredth of a share), plus an amount equal to accrued and unpaid dividends and ---- distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2B) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share of Common Stock to holders of common stock, thereof; or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case event the aggregate amount per share to which holders each holder of shares a share of Series A B Preferred Stock were was entitled immediately prior to such event under clause (xi) of the preceding ---------- sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were Common Stock outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationOCA, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or as to amounts payable upon liquidation, dissolution or winding up) to the Series A Junior Preferred Stock unless, prior thereto, the holders of shares of Series A Junior Preferred Stock shall have received an amount per share (rounded to the nearest cent) equal to the greater of (A) $1,000 per share, or (B) an amount per share, subject to the provision for adjustment hereinafter set forth, equal to 1,000 times the aggregate amount to be distributed per share to holders of Common Stock, plus, in either case, an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (yii) to the holders of stock ranking on a parity (either as to dividends or as to amounts payable upon liquidation, dissolution or winding up) with the Series A Junior Preferred Stock, except distributions made ratably on the Series A Junior Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares Shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation If OCA shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockotherwise) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Junior Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi)(B) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were was outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Rights Agreement (Orthodontic Centers of America Inc /De/)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorporation (voluntary or otherwise), no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received an amount (the “Series B Liquidation Preference”) equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount of all cash or other property to be distributed per share to holders of common stockstock upon such liquidation, dissolution or winding up of the Corporation, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the Series B Liquidation Preference and the liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series B Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series B Preferred Stock and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. (a) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A H Preferred Stock unless, prior thereto, the holders of shares of Series A H Preferred Stock shall have received the greater of (x) $1,000,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, thereon to the date of such payment, plus an amount equal to payment (the greater of “Series H Liquidation Preference”) and (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock (the “Common Adjustment”), or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A H Preferred Stock, except distributions made ratably on the Series A H Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A H Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event (“Adjustment Number”).
(b) In the event, however, that there are not sufficient assets available to permit payment in full of the Series H Liquidation Preference and the liquidation preferences of all other series of Preferred Stock, if any, which rank on a parity with the Series H Preferred Stock, then such remaining assets shall be distributed ratably to the holders of such parity shares in proportion to their respective liquidation preferences. In the event, however, that there are not sufficient assets available to permit payment in full of the Common Adjustment, then such remaining assets shall be distributed ratably to the holders of Common Stock.
(c) In the event the Corporation shall at any time after November 15, 2013 (i) declare any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the CorporationCompany, no distribution distributions shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Preference Shares unless, prior thereto, the holders of shares of Series A Preferred Stock Preference Shares shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) U.S. $10,000.00 100.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockCommon Shares, or (y) to the holders of stock shares ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockPreference Shares, except distributions made ratably on the Series A Preferred Stock Preference Shares and all other such parity stock shares in proportion to the total amounts amount to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date date hereof (i) declare or pay any dividend or bonus issue on common stock Common Shares payable in shares of common stockCommon Shares, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Shares (by reclassification or otherwise than by payment of a dividend or bonus issue in shares of common stockCommon Shares) into a greater or lesser number of shares of common stockCommon Shares, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock Preference Shares were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Shares that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Participating Preferred Stock unless, prior thereto, the holders of shares of Series A Participating Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000 per share, provided that in the event the Corporation does not have sufficient assets, after payment of its liabilities and distribution to holders of Preferred Stock ranking prior to the Series A Participating Preferred Stock, available to permit payment in full of the $1,000 per share amount, the amount required to be paid under this Section 6(A)(1) shall, subject to Section 6(B) hereof, equal the value of the amount of available assets divided by the number of outstanding shares of Series A Participating Preferred Stock or (2) an aggregate amount per share, subject to the provision provisions for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate per share amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity Common Stock (either as to dividends the greater of (1) or upon liquidation(2), dissolution or winding up) with the “Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding upLiquidation Preference”). In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, (ii) subdivide the outstanding Common Stock, or (iiiii) effect a subdivision combine or combination or consolidation of consolidate the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) Common Stock into a greater or lesser smaller number of shares of common stockshares, then in each such case the aggregate amount per share to which holders of shares of Series A Participating Preferred Stock were entitled immediately prior to such event under clause (x2) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock that were outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither .
(B) In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporations, nor Series A Liquidation Preference and the sale or other transfer liquidation preferences of all or substantially all other series of Preferred Stock, if any, which rank on a parity with the Series A Participating Preferred Stock, then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of the Corporation within the meaning of this Section 6such parity shares in proportion to their respective liquidation preferences.
Appears in 1 contract
Samples: Preferred Shares Rights Agreement (Threshold Pharmaceuticals Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Shares unless, prior thereto, the holders of shares of Series A Preferred Stock Shares shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Shares shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Shares, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockShares, except distributions made ratably on the Series A Preferred Stock Shares and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Shares payable in shares of common stockCommon Shares, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Shares (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Shares) into a greater or lesser number of shares of common stockCommon Shares, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock Shares were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Shares that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 100.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares 51 of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xA) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Rights Agreement (Pentair Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporationcorporation, no distribution shall be made (xa) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Shares unless, prior thereto, the holders of shares of Series A Preferred Stock Shares shall have received the greater of (i) $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2ii) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 one hundred (100) times the aggregate amount to be distributed per share to holders of common stockCommon Shares, or (yb) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockShares, except distributions made ratably on the Series A Preferred Stock Shares and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation corporation shall at any time after the Rights Declaration Date (i) June 10, 1997 declare or pay any dividend on common stock the Common Shares payable in shares of common stockCommon Shares, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Shares (by reclassification or otherwise than by payment of a dividend in shares of common stockotherwise) into a greater or lesser number of shares of common stockCommon Shares, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock Shares were entitled immediately prior to such event under clause (xa)(ii) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.such
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A D Preferred Stock unless, prior thereto, the holders of shares of Series A D Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A D Preferred Stock, except distributions made ratably on the Series A D Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A D Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation entity or corporationsentities, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Shareholder Rights Agreement (Apricus Biosciences, Inc.)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received Ten Thousand Dollars ($10,000) per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event.
(B) In the event, however, that there are not sufficient assets available to permit payment in full to the Series A Liquidation Preference and the liquidation preferences of all other series of Preferred Stock, if any, which rank on a parity with the Series A Participating Preferred Stock, then such remaining assets shall be distributed ratably to the holders of such parity shares in proportion to their respective liquidation preferences. Neither In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporationsCommon Adjustment, nor the sale or other transfer of all or substantially all of the then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of Common Stock.
(C) In the event the Corporation within shall at any time after the meaning Rights Declaration Date (i) declare any dividend on Common Stock payable in shares of this Section 6Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Junior Preferred Stock unless, prior thereto, the holders of shares of Series A Junior Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000 per share, PROVIDED THAT in the event the Corporation does not have sufficient assets, after payment of its liabilities and distribution to holders of Preferred Stock ranking prior to the Series A Junior Preferred Stock, available to permit payment in full of the $1,000 per share amount, the amount required to be paid under this Section 6(A)(1) shall, subject to Section 6(B) hereof, equal the value of the amount of available assets divided by the number of outstanding shares of Series A Junior Preferred Stock or (2) an aggregate amount per share, subject to the provision provisions for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate per share amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity Common Stock (either as to dividends the greater of (1) or upon liquidation(2), dissolution or winding up) with the "Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding upLiquidation Preference"). In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, (ii) subdivide the outstanding Common Stock, or (iiiii) effect a subdivision or combination or consolidation of combine the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) Common Stock into a greater or lesser smaller number of shares of common stockshares, then in each such case the aggregate amount per share to which holders of shares of Series A Junior Preferred Stock were entitled immediately prior to such event under clause (x2) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock that were outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither .
(B) In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporations, nor Series A Liquidation Preference and the sale or other transfer liquidation preferences of all or substantially all other series of Preferred Stock, if any, which rank on a parity with the Series A Junior Preferred Stock, then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of the Corporation within the meaning of this Section 6such parity shares in proportion to their respective liquidation preferences.
Appears in 1 contract
Samples: Rights Agreement (Micrion Corp /Ma/)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorporation (voluntary or otherwise), no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount (the "Series A Liquidation Preference") equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount of all cash or other property to be distributed per share to holders of common stockstock upon such liquidation, dissolution or winding up of the Corporation, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Liquidation Preference and the liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series A Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series A Preferred Stock and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A D Preferred Stock unless, prior thereto, the holders of shares of Series A D Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A D Preferred Stock, except distributions made ratably on the Series A D Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A D Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Junior Preferred Stock unless, prior thereto, the holders of shares of Series A Junior Preferred Stock shall have received $1000.00 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Junior Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1000 times the aggregate amount to be distributed per share to holders of common stockshares of Class A Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Junior Preferred Stock, except distributions made ratably on the Series A Junior Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Class A Common Stock payable in shares of common stockClass A Common Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Class A Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockClass A Common Stock) into a greater or lesser number of shares of common stockClass A Common Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Junior Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Class A Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Class A Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Rights Agreement (Optical Communication Products Inc)
Liquidation, Dissolution or Winding Up. (a) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, thereon to the date of such payment, plus an amount equal to payment (the greater of "Series A Liquidation Preference") and (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) November 26, 2001 declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither .
(b) In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporations, nor Series A Liquidation Preference and the sale or other transfer liquidation preferences of all or substantially all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of the Corporation within the meaning of this Section 6Series A Preferred Stock and such parity shares in proportion to their respective liquidation preferences.
Appears in 1 contract
Samples: Rights Agreement (United Online Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xA) to the holders of the Common Stock or of shares of any other stock of the Corporation ranking junior (either as to dividends or junior, upon liquidation, dissolution or winding up) , to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not earned or declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series B Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion pro portion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) January 30, 1997 declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of A-5 82 shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Rights Agreement (Bowne & Co Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (xA) to the holders of the Common Stock or of shares of any other stock of the Company ranking junior (either as to dividends or junior, upon liquidation, dissolution or winding up) , to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not earned or declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) October 1, 1996 declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares 52 of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Shareholder Rights Agreement (Zoll Medical Corporation)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorporation (voluntary or otherwise), no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A B Preferred Stock unless, prior thereto, the holders of shares of Series A B Preferred Stock shall have received an amount (the “Series B Liquidation Preference”) equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount of all cash or other property to be distributed per share to holders of common stockCommon Stock upon such liquidation, dissolution or winding up of the Corporation, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A B Preferred Stock, except distributions made ratably on the Series A B Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A B Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the Series B Liquidation Preference and the liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series B Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series B Preferred Stock and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Stockholder Rights Agreement (Rapid Micro Biosystems, Inc.)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorporation (voluntary or otherwise), no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount (the “Series A Liquidation Preference”) equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000,000 times the aggregate amount of all cash or other property to be distributed per share to holders of common stockCommon Stock upon such liquidation, dissolution or winding up of the Corporation, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date August 7, 2019 (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Liquidation Preference and the liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series A Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series A Preferred Stock and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Section 382 Rights Agreement (GTT Communications, Inc.)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the CorporationCompany, no distribution distributions shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock Preference Shares unless, prior thereto, the holders of shares of Series A Preferred Stock Preference Shares shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) U.S. $10,000.00 100.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate aggre- gate amount to be distributed per share to holders of common stockCommon Shares, or (y) to the holders of stock shares ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred StockPreference Shares, except distributions made ratably on the Series A Preferred Stock Preference Shares and all other such parity stock shares in proportion to the total amounts amount to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date date hereof (i) declare or pay any dividend on common stock Common Shares payable in shares of common stockCommon Shares, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Shares (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Shares) into a greater or lesser number of shares of common stockCommon Shares, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock Preference Shares were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Shares outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Shares that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A C-1 Preferred Stock unless, prior thereto, the holders of shares of Series A C-1 Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A C-1 Preferred Stock, except distributions made ratably on the Series A C-1 Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A C-1 Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Shareholder Rights Agreement (Avant Immunotherapeutics Inc)
Liquidation, Dissolution or Winding Up. (a) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, thereon to the date of such payment, plus an amount equal to payment (the greater of "Series A Liquidation Preference") and (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock (the "Common Adjustment"), or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event ("Adjustment Number").
(b) In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Liquidation Preference and the liquidation preferences of all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets shall be distributed ratably to the holders of such parity shares in proportion to their respective liquidation preferences. In the event, however, that there are not sufficient assets available to permit payment in full of the Common Adjustment, then such remaining assets shall be distributed ratably to the holders of Common Stock.
(c) In the event the Corporation shall at any time after the October 1, 2004 (i) declare any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon In the event of any liquidation (voluntary or otherwise)involuntary liquidation, dissolution or winding up of the CorporationCorporation (a "Liquidation"), no distribution shall be made (x) to the holders of Class A Common Stock, Class B Common Stock, $.001 par value per share, of the Corporation (the "Class B Common Stock"), or any other shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding upLiquidation) to the this Series A Preferred Stock unless, prior thereto, the holders of shares of this Series A Preferred Stock shall have received an amount per share equal to the greater of (i) $100, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2ii) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 100 times the aggregate amount to be distributed per share to holders of common stockClass A Common Stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding upLiquidation) with the Series A Preferred Stockthis Series, except distributions made ratably on the this Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding upLiquidation. In the event the Corporation shall at any time after the Rights Declaration Date (i) _________, 2000 declare or pay any dividend on common stock the Class A Common Stock payable in shares of common stockClass A Common Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Class A Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockClass A Common Stock) into a greater or lesser number of shares of common stockClass A Common Stock, then in each such case the aggregate amount per share to which holders of shares of this Series A Preferred Stock were entitled immediately prior to such event under clause (ii) of clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Class A Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Class A Common Stock that were outstanding immediately prior to such event. Neither For purposes of this Certificate, the consolidation voluntary sale, lease, exchange or transfer (for cash, shares of nor merging of the Corporation with or into any other corporation or corporationsstock, nor the sale securities or other transfer consideration) of all or substantially all of the property or assets of the CorporationCorporation to, or a consolidation or merger of the Corporation with, one or more corporations shall not be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6Liquidation.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation -------------------------------------- (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of shares of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on shares of common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Shareholder Rights Agreement (Boston Properties Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A C Preferred Stock unless, prior thereto, the holders of shares of Series A C Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A C Preferred Stock, except distributions made ratably on the Series A C Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A C Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Shareholder Rights Agreement (Genzyme Transgenics Corp)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Participating Preferred Stock unless, prior thereto, the holders of shares of Series A Participating Preferred Stock shall have received $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Participating Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Participating Preferred Stock, except distributions made ratably on the Series A Participating Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Participating Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 67.
Appears in 1 contract
Samples: Rights Agreement (Axonyx Inc)
Liquidation, Dissolution or Winding Up. (a) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, thereon to the date of such payment, plus an amount equal to payment (the greater of "Series A Liquidation Preference") and (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock (the "Common Adjustment"), or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event ("Adjustment Number").
(b) In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Liquidation Preference and the liquidation preferences of all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets shall be distributed ratably to the holders of such parity shares in proportion to their respective liquidation preferences. In the event, however, that there are not sufficient assets available to permit payment in full of the Common Adjustment, then such remaining assets shall be distributed ratably to the holders of Common Stock.
(c) In the event the Corporation shall at any time after the October 14, 2004 (i) declare any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCompany, no distribution shall be made (xA) to the holders of the Common Stock or of shares of any other stock of the Company ranking junior (either as to dividends or junior, upon liquidation, dissolution or winding up) , to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not earned or declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (yB) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) up with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation Company shall at any time after the Rights Declaration Date (i) January 15, 1998 declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xA) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Rights Agreement (Tca Cable Tv Inc)
Liquidation, Dissolution or Winding Up. (a) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (xi) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received the greater of (x) $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, thereon to the date of such payment, plus an amount equal to payment (the greater of “Series A Liquidation Preference”) and (1) $10,000.00 per share or (2y) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock (the “Common Adjustment”), or (yii) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (xi) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event (the “Adjustment Number”).
(b) In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Liquidation Preference and the liquidation preferences of all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets shall be distributed ratably to the holders of such parity shares in proportion to their respective liquidation preferences. In the event, however, that there are not sufficient assets available to permit payment in full of the Common Adjustment, then such remaining assets shall be distributed ratably to the holders of Common Stock.
(c) In the event the Corporation shall at any time after July 21, 2006 (i) declare any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock payable in shares of common stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock (by reclassification or otherwise than by payment of a dividend in shares of common stock) into a greater or lesser number of shares of common stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock outstanding immediately after such event and the denominator of which is the number of shares of common stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale sale, mortgage or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Shareholder Rights Agreement (Aastrom Biosciences Inc)
Liquidation, Dissolution or Winding Up. A) Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockCommon Stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Rights Agreement (American Science & Engineering Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 1,000 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 1,000 times the aggregate amount to be distributed per share to holders of common stockCommon Stock, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract
Samples: Shareholder Rights Agreement (American Science & Engineering Inc)
Liquidation, Dissolution or Winding Up. (A) Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the Corporation, no distribution shall be made (x1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received Ten Thousand Dollars ($10,000) per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal provided that the holders of shares of Series A Preferred Stock shall be entitled to the greater of (1) $10,000.00 per share or (2) receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount to be distributed per share to holders of common stockshares of Common Stock, or (y2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date (i) declare or pay any dividend on common stock the Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under the proviso in clause (x1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, fraction the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event.
(B) In the event, however, that there are not sufficient assets available to permit payment in full to the Series A Liquidation Preference and the liquidation preferences of all other series of Preferred Stock, if any, which rank on a parity with the Series A Preferred Stock, then such remaining assets shall be distributed ratably to the holders of such parity shares in proportion to their respective liquidation preferences. Neither In the consolidation of nor merging event, however, that there are not sufficient assets available to permit payment in full of the Corporation with or into any other corporation or corporationsCommon Adjustment, nor the sale or other transfer of all or substantially all of the then such remaining assets of the Corporation, shall be deemed distributed ratably to be a liquidation, dissolution or winding up the holders of Common Stock.
(C) In the event the Corporation within shall at any time after the meaning Rights Declaration Date (i) declare any dividend on Common Stock payable in shares of this Section 6Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.
Appears in 1 contract
Samples: Rights Agreement (Cisco Systems Inc)
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise)liquidation, dissolution or winding up of the CorporationCorporation (voluntary or otherwise), no distribution shall be made (x) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received an amount (the “Series A Liquidation Preference”) equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, plus an amount equal to the greater of (1) $10,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 10,000 times the aggregate amount of all cash or other property to be distributed per share to holders of common stockCommon Stock upon such liquidation, dissolution or winding up of the Corporation, or (y) to the holders of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all other such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time after the Rights Declaration Date December 18, 2019 (i) declare or pay any dividend on common stock Common Stock payable in shares of common stockCommon Stock, or (ii) effect a subdivision or combination or consolidation of the outstanding shares of common stock Common Stock (by reclassification or otherwise than by payment of a dividend in shares of common stockCommon Stock) into a greater or lesser number of shares of common stockCommon Stock, then in each such case the aggregate amount per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (x) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of common stock Common Stock outstanding immediately after such event and the denominator of which is the number of shares of common stock Common Stock that were outstanding immediately prior to such event. In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Liquidation Preference and the liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series A Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series A Preferred Stock and the holders of such parity shares in proportion to their respective liquidation preferences. Neither the consolidation of nor merging of the Corporation with or into any other corporation or corporations, nor the sale or other transfer of all or substantially all of the assets of the Corporation, shall be deemed to be a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6.
Appears in 1 contract