Tax Treatment of Preferred Stock. The Company covenants and agrees not to take any action inconsistent with the Series B Preferred Stock being considered capital stock for U.S. Federal income tax purposes.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Image Investor Portfolio a Sep Ser of Memphis Angels LLC), Securities Purchase Agreement (Internet Pictures Corp)
Tax Treatment of Preferred Stock. The Company covenants and agrees not to take any action inconsistent with the Series B Preferred Stock being considered capital common stock for U.S. Federal income tax purposes.
Appears in 2 contracts
Samples: Purchase Agreement (Royal Ahold), Purchase Agreement (Peapod Inc)
