Senior Status. The Company shall have taken all of the necessary actions, including the amendment of the appropriate existing agreements, so that, except as provided in this Section 10.3, the Series 2 Convertible Preferred Stock shall rank senior in all respects, including the payment on limitation and redemption, to all other equity securities of the Company, except that the Series 1 Preferred shall rank pari passu with the Series 2 Convertible Preferred Stock.
Appears in 5 contracts
Samples: Stock Purchase Agreement (Impax Laboratories Inc), Stock Purchase Agreement (Impax Laboratories Inc), Stock Purchase Agreement (Fleming Robert Inc / Da)
Senior Status. The Company shall have taken all of the necessary actions, including the amendment of the appropriate existing agreements, so that, except as provided in this Section 10.310.4, the Series 2 D Convertible Preferred Stock shall rank senior in all respects, including the payment on limitation and redemption, to all other equity securities of the Company, including the Series A Convertible Preferred Stock and the Series B Convertible Preferred Stock, except that the Series 1 C Convertible Preferred Stock shall rank pari passu with senior to the Series 2 D Convertible Preferred Stock.
Appears in 2 contracts
Samples: Stock and Warrant Purchase Agreement (Global Pharmaceutical Corp \De\), Stock and Warrant Purchase Agreement (Fleming Robert Inc / Da)