Examples of Preferred Price in a sentence
In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 4 with respect to the rights of the holders of Series Preferred after the capital reorganization to the end that the provisions of this Section 4 (including adjustment of each Series Preferred Price then in effect and the number of shares issuable upon conversion of the Series Preferred) shall be applicable after that event and be as nearly equivalent as practicable.
The conversion price for each series of the Series Preferred shall initially be the respective Original Issue Price of such series (in each case, the "Series Preferred Price").
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All references to any Series Preferred Price herein shall mean such Series Preferred Price as so adjusted.
Each such initial Series Preferred Price shall be adjusted from time to time in accordance with this Section 4.
The Series Conversion Rate in effect at any time for conversion of the Series Preferred (the "Series Conversion Rate") shall be the quotient obtained by dividing the respective Original Issue Price for each series of the Series Preferred by the "Series Preferred Price" for such series, calculated as provided in Section 4(c).
If the Company shall at any time or from time to time after the date that the first share of Series Preferred is issued (the "Original Issue Date") effect a subdivision of the outstanding Common Stock without a corresponding subdivision of the Preferred Stock, each Series Preferred Price in effect immediately before that subdivision shall be proportionately decreased.
In addition, in the event any Class A Member fails to deliver the assignments reasonably requested by the Company as set forth herein, the Company may deliver the Preferred Price to such Class A Member and upon such delivery, execute and deliver, as the attorney in fact for such Class A Member, such required assignments.
At the closing, each Class A Member shall deliver to the Company such assignments and other documents as reasonably requested by the Company, and the Company shall deliver to each Class A Member the Preferred Price for the purchased Class A Units held by such Class A Member.
Each share of Series A Preferred shall automatically be converted into shares of Common Stock, based on the then-effective Series A Preferred Price, at any time upon the affirmative election of the holders of at least fifty percent (50%) of the outstanding shares of the Series A Preferred, voting as a separate class.