Common use of Nature of Securities Clause in Contracts

Nature of Securities. (a) To the extent that Shareholder is entitled to purchase Class A Common Shares pursuant to this Article V, it instead shall be issued Class B Common Shares on a one-for-one basis. (b) To the extent that Shareholder is entitled to purchase any other voting securities pursuant to this Article V, Dynegy and Shareholder shall negotiate in good faith and agree upon the nature of the securities and, if applicable, the restrictions on or privileges of, such securities so that the purposes of this Agreement are effected. (c) Shareholder shall have no preemptive rights with respect to securities that do not participate in the earnings of Dynegy or, absent a payment or other default, in the election of directors of Dynegy.

Nature of Securities. (a) To the extent that Shareholder is entitled to purchase Class A Common Shares pursuant to this Article VVI, it instead shall be issued Class B Common Shares on a one-for-one basis. (b) To the extent that Shareholder is entitled to purchase any other voting securities pursuant to this Article VVI, Dynegy and Shareholder shall negotiate in good faith and agree upon the nature of the securities and, if applicable, the restrictions on or privileges of, such securities so that the purposes of this Agreement are effected. (c) Shareholder shall have no preemptive rights with respect to securities that do not participate in the earnings of Dynegy or, absent a payment or other default, in the election of directors of Dynegy.