Buyer Preferred Stock definition
Examples of Buyer Preferred Stock in a sentence
Upon issuance or conversion in accordance with this Agreement and the Certificate of Designations, the Conversion Shares, when issued, will be validly issued, fully paid and nonassessable and free from all preemptive or similar rights or Liens with respect to the issue thereof, with the holders being entitled to all rights accorded to a holder of Buyer Common Stock and/or Buyer Preferred Stock, as applicable.
In lieu of any fractional shares of Buyer Preferred Stock that would have otherwise been issuable, each Participating Stockholder that would have been entitled to receive a fractional share shall, upon proper surrender of such Participating Shares, receive in cash the fair value of such fraction of a share, which shall be deemed to be $1.00 per whole share.
No certificates or scrip representing fractional shares of Buyer Preferred Stock shall be issued to Participating Stockholders on the surrender for exchange of Participating Shares, and such Participating Stockholders shall not be entitled to any voting rights, rights to receive any dividends or distributions or other rights as a stockholder of Buyer with respect to any fractional shares of Buyer Preferred Stock that would have otherwise been issued to such Participating Stockholders.