Procedure for Redemption. (a) In the event that fewer than all the outstanding shares of Series G Preferred Stock are to be redeemed, in the case of Section 6(a), the number of shares to be redeemed shall be determined by the Board of Directors and the shares to be redeemed shall be selected pro rata (with any fractional shares being rounded to the nearest whole shares). Notwithstanding anything in Section 6 to the contrary, the Corporation shall only redeem shares of Series G Preferred Stock pursuant to Section 6(a) or 6(b) on a proportional basis based on the percentage of each series of shares outstanding at such time.
Appears in 2 contracts
Samples: Registration Rights Agreement (Xo Communications Inc), Stock Purchase Agreement (Nm Acquisition Corp)
Procedure for Redemption. (a) In the event that fewer than all the outstanding shares of Series G D Preferred Stock are to be redeemed, in the case of Section 6(a), the number of shares to be redeemed shall be determined by the Board of Directors and the shares to be redeemed shall be selected pro rata (with any fractional shares being rounded to the nearest whole shares). Notwithstanding anything in Section 6 to the contrary, the Corporation shall only redeem shares of Series G D Preferred Stock pursuant to Section 6(a) or 6(b) on a proportional basis based on the percentage of each series of shares outstanding at such time.
Appears in 2 contracts
Samples: Registration Rights Agreement (Xo Communications Inc), Stock Purchase Agreement (Nextlink Communications Inc / De)
Procedure for Redemption. (a) In the event that fewer than all the outstanding shares of Series G H Preferred Stock are to be redeemed, in the case of Section 6(a), the number of shares to be redeemed shall be determined by the Board of Directors and the shares to be redeemed shall be selected pro rata (with any fractional shares being rounded to the nearest whole shares). Notwithstanding anything in Section 6 to the contrary, the Corporation shall only redeem shares of Series G H Preferred Stock pursuant to Section 6(a) or 6(b) on a proportional basis based on the percentage of each series of shares outstanding at such time.
Appears in 2 contracts
Samples: Registration Rights Agreement (Xo Communications Inc), Stock Purchase Agreement (Nm Acquisition Corp)
Procedure for Redemption. (a) In the event that fewer than all the outstanding shares of Series G C Preferred Stock are to be redeemed, in the case of Section 6(a), the number of shares to be redeemed shall be determined by the Board of Directors and the shares to be redeemed shall be selected pro rata (with any fractional shares being rounded to the nearest whole shares). Notwithstanding anything in Section 6 to the contrary, the Corporation shall only redeem shares of Series G C Preferred Stock pursuant to Section 6(a) or 6(b) on a proportional basis based on the percentage of each series of shares outstanding at such time.
Appears in 2 contracts
Samples: Registration Rights Agreement (Xo Communications Inc), Stock Purchase Agreement (Nextlink Communications Inc / De)