Partial Conversion. In case of any conversion of any of the shares of Series B Preferred Stock at the time outstanding, the shares to be converted shall be selected pro rata among the shares of Series B Preferred Stock held by each Permitted Holder and among each such Permitted Holder’s shares of Series B-2 11.5% Preferred Stock and Series B-1 12.75% Preferred Stock. If fewer than all of the shares represented by any certificate are converted, a new certificate shall be issued representing the unconverted shares without charge to the holder thereof.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Babcock & Wilcox Co), Securities Purchase Agreement (Usec Inc)
Partial Conversion. In case of any conversion of any part of the shares of Series B A Preferred Stock at the time outstanding, the shares to be converted shall be selected pro rata among the shares of Series B Preferred Stock held by each Permitted Holder and among each such Permitted Holder’s shares of Series B-2 11.5% Preferred Stock and Series B-1 12.75% Preferred Stockrata. If fewer than all of the shares represented by any certificate are converted, a new certificate shall be issued representing the unconverted shares that were not converted without charge to the holder thereof.
Appears in 1 contract
Samples: Securities Purchase Agreement (Ruths Hospitality Group, Inc.)
Partial Conversion. In case of any conversion of any of the shares of Series B Preferred Stock at the time outstanding, the shares to be converted shall be selected pro rata among the shares of Series B Preferred Stock held by each Permitted Holder and among each such Permitted Holder’s shares of Series B-2 11.5B-1 12.75% Preferred Stock and Series B-1 12.75B-2 11.5% Preferred Stock. If fewer than all of the shares represented by any certificate are converted, a new certificate shall be issued representing the unconverted shares without charge to the holder thereof.
Appears in 1 contract
Partial Conversion. In case of any conversion of any of the shares of Series B Preferred Stock at the time outstanding, the shares to be converted shall be selected pro rata among the shares of Series B Preferred Stock held by each Permitted Holder and among each such Permitted Holder’s shares of Series B-2 11.5B-1 12.75% Preferred Stock and Series B-1 12.75% Preferred Stock. If fewer than all of the shares represented by any certificate are converted, a new certificate shall be issued representing the unconverted shares without charge to the holder thereof.B-2
Appears in 1 contract
Samples: Securities Purchase Agreement (Babcock & Wilcox Co)
