Examples of CellNet Preferred Stock in a sentence
The Company shall obtain such shares of CellNet Common Stock by exchanging shares of the CellNet Preferred Stock it holds with CellNet for CellNet Common Stock, pursuant to the terms of the CellNet Preferred Stock.
In addition, this Guarantee will terminate completely upon the distribution to the holders of the Preferred Securities of all of the assets of Funding, including the CellNet Preferred Stock, any interest on and principal of the Treasury Strips that are held in the Escrow Account and any CellNet Common Stock that Funding received from CellNet as a dividend (or otherwise) and has not distributed on the Preferred Securities or sold in the open market.
The Manager shall not, without the approval of the holders of at least a Majority in Liquidation Preference of the Preferred Securities, vote such CellNet Preferred Stock with respect to proposed actions that would have an adverse effect on the specific rights, preferences, privileges or voting rights of the Company with respect to the CellNet Preferred Stock, or cause the dissolution, winding-up or termination of the Company.
Notwithstanding any other provision of this Agreement to the contrary, the Preferred Members shall be entitled to vote in connection with any solicitation by the Manager for the consent of the Preferred Members to the voting by the Manager of the Company's CellNet Preferred Stock.
Dividends on the CellNet Preferred Stock will, at the option of CellNet, be payable either in cash, in shares of CellNet Common Stock, or any combination of cash and CellNet Common Stock.
Dividends on the CellNet Preferred Stock will, at the option of CellNet, be payable either in cash or in shares of CellNet Common Stock.
On the closing date of the issuance of the Preferred Securities (the "Closing Date"), the Manager, on behalf of the Company; shall (x) purchase, and place in escrow, Treasury strips in an amount sufficient to fund the cash payment of the first 13 dividends on the Preferred Securities and (y) use the balance of the proceeds of the Offering to pay $___ million to CellNet as consideration for CellNet Preferred Stock.
On the Funding Date, the Manager, on behalf of the Company shall use the earnings and principal of such U.S. Government Securities to pay $___ million to CellNet as consideration for CellNet Preferred Stock.