Examples of Nonvoting Preferred Stock in a sentence
A series of Preferred Stock designated “$2.60 Cumulative Nonvoting Preferred Stock, Series E” (herein called “Series E Preferred Stock”) is hereby established, consisting of 338,100 shares subject to increase or decrease in the number of shares in accordance with law.
All of the issued and outstanding shares of Series A Nonvoting Preferred Stock and Common Stock of the Company have been duly authorized and validly issued and are fully paid and nonassessable and were issued in compliance with all applicable state and federal laws concerning the issuance of securities.
Each share of Nonvoting Preferred Stock issued and outstanding at the Effective Time shall remain outstanding following the Effective Time.
When issued pursuant to the Subscription Agreement, the shares of Nonvoting Preferred Stock issued to Parent will be validly issued, fully paid and nonassessable.
Parent agrees that from the date hereof until the Closing, it shall not sell, pledge, dispose of, grant, transfer or encumber any of the shares of Nonvoting Preferred Stock, and shall not enter into any agreement to do any of the foregoing.
Thirty Million (30,000,000) shares of the authorized and unissued Preferred Stock of the Corporation are hereby designated as the Series B Non-voting Preferred Stock (the “Series B Preferred Stock”).
Upon any such reduction in the Exchange Price, the number of shares of Series B Nonvoting Preferred Stock and Nonvoting Common Stock issuable upon the exchange of Notes shall be correspondingly increased.
Such press release may include the total number of shares of Common Stock and Nonvoting Preferred Stock sold and the amount of capital raised pursuant to the Private Placement, including shares acquired by the Purchaser and the Other Purchasers.
The Board of Directors is expressly authorized to adopt, from time to time by resolution, the designation of one or more series of Voting Preferred Stock, or one or more series of Non-voting Preferred Stock, fixing and determining the relative rights and preferences thereof.
The Exchange Price from time to time in effect and the number of shares of Series B Nonvoting Preferred Stock and Nonvoting Common Stock issuable upon exchange of Notes shall be subject to adjustments from time to time as hereinafter set forth in this Section 6.3.