Common use of Status as Shareholder Clause in Contracts

Status as Shareholder. Upon the Automatic Conversion and the Subsequent Automatic Conversion, (i) the shares of Series F Preferred Stock being converted shall be deemed converted into shares of Common Stock and (ii) the Holder’s rights as a holder of such converted shares of Series F Preferred Stock shall cease and terminate, excepting only the right to receive book entry statements for such shares of Common Stock and to any remedies provided herein or otherwise available at law or in equity to such Holder because of a failure by the Corporation to comply with the terms of this Certificate of Designation. In all cases, the Holder shall retain all of its rights and remedies for the Corporation’s failure to convert Series F Preferred Stock. In no event shall the Series F Preferred Stock convert into any shares of Common Stock prior to the Shareholder Approval.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Odyssey Health, Inc.), Asset Purchase Agreement (Oragenics Inc)

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Status as Shareholder. Upon the Automatic each Conversion and the Subsequent Automatic ConversionDate, (i) the shares of Series F A Preferred Stock being converted shall be deemed converted into shares of Common Stock and (ii) the Holder’s rights as a holder of such converted shares of Series F A Preferred Stock shall cease and terminate, excepting only the right to receive book entry statements certificates for or electronic receipt of such shares of Common Stock Stock, as applicable, and to any remedies provided herein or otherwise available at law or in equity to such Holder because of a failure by the Corporation to comply with the terms of this Certificate of Designation. In all cases, the Holder shall retain all of its rights and remedies for the Corporation’s failure to convert Series F A Preferred Stock. In no event shall the Series F Preferred Stock convert into any shares of Common Stock prior to the Shareholder Approval.

Appears in 1 contract

Samples: Letter Agreement (ImmunoGen, Inc.)

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Status as Shareholder. Upon the Automatic each Conversion and the Subsequent Automatic ConversionDate, (i) the shares of Series F X Non-Voting Preferred Stock being converted shall be deemed converted into shares of Common Stock and (ii) the Holder’s rights as a holder of such converted shares of Series F X Non-Voting Preferred Stock shall cease and terminate, excepting only the right to receive book entry statements certificates for such shares of Common Stock and to any remedies provided herein or otherwise available at law or in equity to such Holder because of a failure by the Corporation to comply with the terms of this Certificate of Designation. In all cases, the Holder shall retain all of its rights and remedies for the Corporation’s failure to convert Series F X Non-Voting Preferred Stock. In no event shall the Series F X Non-Voting Preferred Stock convert into any shares of Common Stock prior to the Shareholder Approval.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Baudax Bio, Inc.)

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