Common use of Liquidation; Dissolution Clause in Contracts

Liquidation; Dissolution. Winding Up or Merger, etc. upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made to the holders of shares of any other class or series of capital stock until all then outstanding Series B Preferred shares shall have been redeemed (the "Series B Liquidation Preference"); provided however, that the Series B Liquidation Preference may only be paid out of, and only ranks prior to all other classes and series of stock to the extent of current or retained earnings determined in accordance with generally accepted accounting principles consistently applied.

Liquidation; Dissolution. Winding Up or Merger, etc. upon Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made to the holders of shares of any other class or series of capital stock until all then outstanding shares of Series B C Preferred shares Stock shall have been redeemed (the "Series B C Liquidation Preference"); provided provided, however, that the Series B C Liquidation Preference may only be paid out of, and only ranks prior to all other classes and series of stock to the extent of of, current or retained earnings determined in accordance with generally accepted accounting principles consistently applied.