Examples of Class B Nonvoting Common Stock in a sentence
The holders of Class A Voting Common Stock will be entitled to one (1) vote per share on all matters to be voted on by the Corporation's stockholders, and except as otherwise required by law, the holders of Class B Nonvoting Common Stock will have no right to vote their shares of Class B Nonvoting Common Stock on any matters to be voted on by the Corporation's stockholders.
In the event of any liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, the holders of Class A Voting Common Stock and Class B Nonvoting Common Stock shall be entitled to share ratably, according to the number of shares of Class A Voting Common Stock or Class B Nonvoting Common Stock held by them, in the remaining assets of the Corporation available for distribution to its stockholders.
The Company shall promptly provide the Warrantholder with any restatement, amendment, modification or waiver of the Company’s Certificate of Incorporation that pertains to the Nonvoting Common Stock or the Class B Nonvoting Common Stock.
The foregoing notwithstanding, the Company shall not be deemed to have impaired the Warrantholder’s rights hereunder if it amends its Charter, or the holders of the Nonvoting Common Stock or Class B Nonvoting Common Stock waive rights thereunder, in a manner that does not affect the Warrantholder in a manner different from the effect that such amendments or waivers have on the rights of the holders of the Nonvoting Common Stock or Class B Nonvoting Common Stock.
Except as otherwise provided herein all shares of Class A Voting Common Stock and Class B Nonvoting Common Stock will be identical and will entitle the holders thereof to the same rights and privileges.
The authorized capital stock of the Company consists of 11,650 shares of Voting Common Stock, par value $0.10 per share, 5,650 shares of Nonvoting Common Stock, par value $0.10 per share, 5,400 shares of Class B Nonvoting Common Stock, par value $0.01 per share, and 2,000 shares of Preferred Stock, par value $0.10 per share.
The common stock consists of 40,000,000 shares designated as Class A Voting Common Stock, no par value ("Class A Common Stock"), and 20,000,000 shares designated as Class B Nonvoting Common Stock, no par value ("Class B Common Stock").
Each Unit will entitle the registered holder of a Unit (a "Unit Holder") to: (I) one (1) share of the Company's Class B Non-voting Common Stock, par value $0.01; and (II) one (1) warrant to purchase of one (1) share of the Company's Class A Voting Common Stock, par value $0.01 (the "Warrant").
Subject to adjustment as provided in Sections 4(i) and (j) hereof, options may be granted by the Company from time to time to purchase up to an aggregate of 6,000,000 shares of the Company's authorized but unissued Class B Nonvoting Common Stock, par value $0.01 per share (the "Common Stock").
Each outstanding share of Voting Common Stock has been automatically converted into 4.4 shares of common stock, and each outstanding share of Class B Nonvoting Common Stock has been automatically converted into 4.0 shares of common stock.