Common use of Payments to Holders of Common Stock Clause in Contracts

Payments to Holders of Common Stock. In the event of any Liquidation Event, after the payment of all preferential amounts required to be paid, first, to the holders of shares of Series A Preferred Stock pursuant to Section 4.1 and, second, to the holders of Series B Preferred Stock in accordance with Section 4.2, the remaining assets of the Corporation available for distribution to its stockholders shall be distributed among the holders of shares of Common Stock, pro rata based on the number of shares held by each such holder.

Appears in 6 contracts

Samples: Share Purchase Agreement (Saunders Acquisition Corp), Exchange Agreement (Franklin Electronic Publishers Inc), Exchange Agreement (Franklin Electronic Publishers Inc)

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Payments to Holders of Common Stock. In the event of any voluntary or involuntary liquidation, dissolution, or winding up or Deemed Liquidation EventEvent of the Company, after the payment of all preferential amounts required to be paid, first, paid to the holders of shares of Series A Seed Preferred Stock pursuant to as provided in Section 4.1 and, second, to the holders of Series B Preferred Stock in accordance with Section 4.22.1, the remaining funds and assets of the Corporation available for distribution to its the stockholders shall of the Company will be distributed among the holders of shares of Common Stock, pro rata based on the number of shares of Common Stock held by each such holder.

Appears in 1 contract

Samples: Convertible Note Agreement

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