Permitted Stock means Permitted Common Stock and Qualified Preferred Stock.
Permitted Stock shall include all shares of Common Stock or Common Stock Equivalents issued or issuable on or prior to the date of this Option.
Permitted Stock means any Common Stock and any capital stock of the Corporation (other than Series A Preferred Stock) that: (a) is on parity with or junior to the Series A Preferred Stock with respect to the payment of dividends, redemption payments, rights (including as to the distribution of assets) upon liquidation, dissolution or winding-up of the Corporation; (b) if not Common Stock, shall automatically convert into Common Stock, such that in no event shall any Permitted Stock (other than Common Stock) remain outstanding following the conversion of the Series A Preferred Stock in accordance with Section 7; and (c) shall not have any voting, consent or governance rights, including, without limitation, board representation rights, whether provided by contract or otherwise, greater than those provided to the holders of Series A Preferred Stock as set forth in this Certificate of Designation, or after conversion, have any such rights other than as Common Stock.
Examples of Permitted Stock in a sentence
Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose (in each case, other than in connection with Permitted Stock Repurchases).
Purchase or acquire obligations or Equity Interests of any Person (other than another Loan Party), other than (a) Permitted Investments and (b) the Closing Date Permitted Stock Repurchase.
Use the proceeds of the Credit Extensions for general corporate purposes not in contravention of any Law or of any Loan Document (including, without limitation, to refinance existing indebtedness, finance ongoing working capital, capital expenditures, Permitted Acquisitions and Investments, and Permitted Stock Repurchases).
No Loan Party shall purchase, acquire or carry any Margin Stock (other than pursuant to a Permitted Stock Repurchase).
If any Common Stock or Common Stock Equivalents (other than Permitted Stock) are issued or sold or deemed to have been issued or sold for cash, the consideration received therefor will be deemed to be the net amount received by the Company.
More Definitions of Permitted Stock
Permitted Stock means common stock or Permitted Preferred Stock of Administrative Borrower, or Permitted Convertible Notes issued by Administrative Borrower which evidence Refinancing Indebtedness.
Permitted Stock means shares of common or preferred stock that (1) is non-assessable and fully paid up and (2) is, in the aggregate with all other stock held by Borrower or any Affiliate in the company issuing such stock, less than 25% of the shares of such issuing company which entitles the holder to vote for the board of directors or other managers of such company.
Permitted Stock as set forth in Article I of the Second Restated Purchase Agreement, is hereby deleted in its entirety and the following definition is substituted in lieu thereof:
Permitted Stock as set forth in Section 1 of the Second Restated Purchase Agreement is hereby deleted in its entirety and the following definition is substituted in lieu thereof:
Permitted Stock means (a) Warrant Shares, and shares of the Seller's Capital Stock issuable upon exercise thereof; (b) Capital Stock of the Seller issued as a dividend on shares of the Seller's Capital Stock or as a result of a stock split with respect thereto; (c) Capital Stock of the Seller issued upon conversion of the Series A Preferred Stock, the Series B Preferred Stock or the Series C Preferred Stock; (d) options and warrants outstanding (or that the Seller's Board of Directors has approved for issuance to specific employees) as of the date hereof to purchase the Seller's Capital Stock, and shares of the Seller's Capital Stock issuable upon exercise thereof; and (e) up to 157,617 shares of the Seller's Class A Common Stock issued to employees of the Seller pursuant to options issued under the Seller's 1997 Long-Term Incentive Plan and having an exercise price per share at least equal to the Fair Market Value per share.
Permitted Stock. This term means (a) Common Stock or options or warrants to acquire Common Stock, constituting, in the aggregate, five percent (5%) or less of the outstanding Common Stock, issued or reserved for issuance to present and future key management of the Company pursuant to a management incentive program and (b) the Xxxxxxxx Preferred Stock. In no event will the number of shares of Permitted Stock (with respect to clause (a) above) issued or reserved for issuance, in the aggregate, exceed the lesser of the number of shares constituting five percent (5%) of the outstanding Common Stock on (a) the date of this Agreement or (b) the date issued.
Permitted Stock. Issuable or Issued Warrant Shares, Conversion Shares, Loan Warrant Shares and shares of the Company's Capital Stock issuable upon conversion thereof; (b) Capital Stock of the Company issued as a dividend on shares of the Company's Capital Stock or as a result of a stock split with respect thereto; (c) options and warrants granted (or for which the Board of Directors has approved the grants to specified individuals) as of the date hereof to purchase the Company's Capital Stock, and shares of the Company's Capital Stock issuable upon exercise thereof; (d) the Business Combination Options, and shares of the Company's Capital Stock issuable upon exercise thereof; (e) options to be granted after the Original Closing Date to employees of the Company and its Subsidiaries to purchase up to 335,286 shares of Common Stock of the Company, at the exercise price not less than the Fair Market Value at the time of issuance of such options, and shares of the Company's Capital Stock issuable upon exercise thereof; (f) shares of Series A Preferred Stock issuable pursuant to the Purchase Agreement; (g) shares of Series B Preferred Stock issuable pursuant to the Purchase Agreement; (h) 103,093 shares of Common Stock issued to Xxxxxxxxxxx X. and Xxxxxx Xxxxxxx (jointly) at an aggregate purchase price of $200,000; (i) solely for the purpose of Article II of this Agreement, Acquisition Stock; (j) 29,516 shares of Common Stock issuable to FF-ITP pursuant to the Purchase Agreement; (k) 29,516 shares of Common Stock issuable to Xxxxxxxxxxx X. and Xxxxxx Xxxxxxx (jointly) at an aggregate purchase price of $100,000; (l) 14,758 shares of Common Stock issuable to Xxxxxx and Xxxxxxxx Xxxxx (jointly) at an aggregate purchase price of $50,000; and (m) 1,001 shares of Common Stock issuable to Xxxxxx Xxxxxxx at an aggregate purchase price of $3,390. The limits in clauses (e), (h), (j), (k), (l) and (m) shall be proportionately adjusted for dividends and other distributions payable in and for subdivisions and combinations of shares of Common Stock.