Preferred Stock Agreements Clause Samples

Preferred Stock Agreements. Within thirty (30) days after the Closing Date, the Borrowers shall deliver to the Agent agreements from the holders of not less than fifty percent (50%) of the issued and outstanding Preferred Stock, that in the event the Obligation have not been refinanced by May 19, 2002, such holders agree to receive in lieu of such cash payment Subordinated Debt and to enter into a Subordination Agreement with respect thereto. The Borrowers agree to use their best efforts to obtain similar agreements from the remaining holders of Preferred Stock within such thirty (30) day period.

Preferred Stock Agreements. The Bank shall have received evidence of the Borrower’s ability to enter into this Agreement and the transactions contemplated hereby under the terms and conditions of the Preferred Stock Agreements. “Preferred Stock Agreements” shall mean, collectively, (i) the Series C Stock and Warrant Purchase Agreement, dated as of July 2, 2007, by and among the Company and the Series C Stockholders, (ii) the Certificate of Designation, Preferences and Rights of Series B Convertible Preferred Stock of the Company, (iii) the Certificate of Designation, Preferences and Rights of Series C Convertible Preferred Stock of the Company, (iv) the Second Amended and Restated Stockholders’ Agreement, dated as of July 3, 2007, by and among the Company, the Series B Stockholders, the Series C Stockholders and the Warrant Holders, and (v) the Voting Agreement, dated as of July 3, 2007, by and among the Company and the stockholders of the Company named therein.

Preferred Stock Agreements. Nothing contained in this Agreement, the Registration Rights Agreement or the Warrants, or in any other instrument contemplated hereby or thereby, shall modify, amend, terminate or in any way affect any of the Investors' rights or the Company's obligations under or with respect to the Preferred Stock Agreements, and all such rights and obligations shall be in addition to any and all rights and obligations hereunder, except that Schedule A to the Registration Rights Agreement shall replace and supercede Schedule A to the registration rights agreement included in the Preferred Stock Agreements.

Preferred Stock Agreements. The Company shall not be in breach of any of its representations, warranties, covenants, obligations or agreements contained in the Preferred Stock Agreements (except for the Company's failure to timely file the registration statement required by the Preferred Stock Agreements).