Examples of Adjusted Outstanding Common Stock in a sentence
In the event that the Oaktree Parties Beneficially Own less than 35% but at least 25% of the Adjusted Outstanding Common Stock, the Oaktree Parties shall have the right to nominate two (2) Designees, a Class II Director and a Class III Director.
In the event that the Oaktree Parties Beneficially Own less than 15% of the Adjusted Outstanding Common Stock, the Oaktree Parties shall have no contractual right to nominate any Designees (but nothing contained herein shall adversely affect their rights to make nominations as a stockholder at such time).
In the event that the Oaktree Parties Beneficially Own less than 25% but at least 15% of the Adjusted Outstanding Common Stock, the Oaktree Parties shall have the right to nominate one (1) Designee, a Class III Director.
As used herein, "Adjusted Outstanding Common Stock shall mean the sum of (i) the number of shares of Common Stock outstanding immediately prior to such issue or sale (excluding any shares of Common Stock subject to contractual repurchase rights held by the Corporation) divided by three, plus (ii) the number of shares of Common Stock issuable upon conversion of all outstanding shares of any series of Preferred Stock of the Corporation convertible into Common Stock.