Common use of Treatment of Capital Stock Clause in Contracts

Treatment of Capital Stock. The manner and basis of converting shares of BPZ Common Stock for shares of common stock, no par value per share, of Navidec by virtue of the Merger and without any action on the part of the Parties or any holder thereof, shall be as set forth in this Article II. At or before Closing, all shares of BPZ Preferred Stock shall convert to BPZ Common Stock.