Preferred Stock Event definition

Preferred Stock Event means any of the following events occurring after the Original Issue Date: (A) the issuance by the Corporation of additional shares of Series A Preferred Stock as a dividend or other distribution on the outstanding shares of Series A Preferred Stock, (B) a subdivision of the outstanding shares of Series A Preferred Stock into a greater number of shares of Series A Preferred Stock, (C) a combination of the outstanding shares of Series A Preferred Stock into a small number of shares of Series A Preferred Stock, and (D) the conversion or exchange of the outstanding shares of Series A Preferred Stock into a different number of shares of some other class or classes of stock whether by recapitalization, reclassification or otherwise; provided, however, that in no event shall a Preferred Stock Event be deemed to include any liquidation, dissolution or winding up of the Corporation provided for in Section 2 or any conversion or other adjustment event described in Section 4.
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Preferred Stock Event means the occurrence of any of the following: (1) the Corporation fails to meet 80% of its quarterly Benchmarks in any four consecutive fiscal quarters commencing with third quarter, 1997; (2) the Corporation fails for the four fiscal quarters ended June 30, 1998, to meet 70% of its cumulative Benchmarks in such four fiscal quarters; (3) the Corporation fails for the four fiscal quarters ended September 30, 1998, to meet 72.5% of its cumulative Benchmarks in such four fiscal quarters; (4) the Corporation fails for the four fiscal quarters ended December 31, 1998, to meet 75% of its cumulative Benchmarks in such four fiscal quarters; (5) the Corporation fails for the four fiscal quarters ended March 31, 1999, to meet 77.5% of its cumulative Benchmarks in such four fiscal quarters; (6) the Corporation fails to meet 80% of its cumulative Benchmarks in any four consecutive fiscal quarter period ending on or after June 30, 1999; or (7) the Corporation fails to make timely cash dividend payments on the Preferred Stock for any six fiscal quarters.
Sample 1

Examples of Preferred Stock Event in a sentence

  • If a Preferred Stock Event of Default shall have occurred and be continuing, the Property Trustee shall have the sole power to so appoint such a co-trustee or separate trustee, and upon the written request of the Property Trustee, the Sponsor, and the Administrative Trustees shall for such purpose join with the Property Trustee in the execution, delivery, and performance of all instruments and agreements necessary or proper to appoint, such co-trustee or separate trustee.

  • The term "Extraordinary Preferred Stock Event" shall mean (x) the issuance of additional shares of Preferred Stock as a dividend or other distribution on outstanding Preferred Stock, (y) the subdivision of outstanding shares of Preferred Stock into a greater number of shares of Preferred Stock, or (z) the combination of outstanding shares of Preferred Stock into a smaller number of shares of Preferred Stock.

  • Unless and until a Preferred Stock Event of Default shall have occurred and be continuing, the Property Trustee or the Delaware Trustee, or both of them, may be removed at any time by Act of the Holders of the Common Securities.

  • The Applicable Series B Conversion Value, as so adjusted, shall be readjusted in the same manner upon the happening of any successive Extraordinary Series A Preferred Stock Event or Events.

  • Except as otherwise required by law, wherever in this Certificate of Designation there is a reference to a specific number of shares Series A Preferred Stock, then, upon the occurrence of any Common Stock Event or Preferred Stock Event, the specific number of shares so referenced herein shall automatically be proportionally adjusted to reflect the effect on the outstanding shares of such class or series of stock by such Common Stock Event or Preferred Stock Event, as applicable.

  • The initial Conversion Price per share for a series of Preferred Stock shall be equal to the Original Issue Price of such series of Preferred Stock; provided, however that such Conversion Price shall be subject to adjustment from time to time as provided below and to the extent necessary to reflect any Preferred Stock Event (such price, as adjusted from time to time, the “Conversion Price”).

  • If at any time the Borrower has reason to believe that a Series B Convertible Preferred Stock Event is reasonably likely to occur within the period of thirty (30) consecutive days thereafter, the Borrower shall give notice thereof to the Lender (a "Notice of Anticipation of Series B Convertible Preferred Stock Event").

  • The Conversion Price for the Series C-1 Preferred Stock shall be readjusted in the same manner upon the happening of each subsequent Series C Preferred Stock Event.

  • As used in the Articles of Incorporation and these Bylaws, a "Cure Event" shall occur whenever, subsequent to the occurrence of a Preferred Stock Event, the Corporation achieves 90% of its cumulative Benchmarks for any four consecutive fiscal quarters.

  • In the event Additional Directors are elected to the Board by reason of a Preferred Stock Event, such directors shall continue to serve until the occurrence of a Cure Event (as defined in the Bylaws), at which time such Additional Directors shall cease to serve and the Board shall automatically revert to its size immediately prior to the election of Additional Directors under this Section VI, D, 4(a).

Related to Preferred Stock Event

  • Preferred Stock as applied to the Capital Stock of any corporation, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such corporation, over shares of Capital Stock of any other class of such corporation.

  • Series B-1 Preferred Stock means shares of the Company’s Series B-1 Preferred Stock, par value $0.0001 per share.

  • Series F Preferred Stock means shares of the Company’s Series F Preferred Stock, par value $0.0001 per share.

  • Series A Preferred Stock means shares of the Company’s Series A Preferred Stock, par value $0.0001 per share.

  • Series B-2 Preferred Stock means shares of the Company’s Series B-2 Preferred Stock, par value $0.001 per share.

  • Series C Preferred Stock means shares of the Company’s Series C Preferred Stock, par value $0.001 per share.

  • Preferred Stock Dividends means all dividends with respect to Preferred Stock of the Company or any Restricted Subsidiary held by Persons other than the Company or a Wholly Owned Restricted Subsidiary. The amount of any dividend of this kind shall be equal to the quotient of the dividend divided by the difference between one and the maximum statutory consolidated federal, state and local income rate (expressed as a decimal number between 1 and 0) then applicable to the issuer of the Preferred Stock.

  • Series E Preferred Stock means shares of the Company’s Series E Preferred Stock, par value $0.0001 per share.

  • Series D Preferred Stock means shares of the Company’s Series D Preferred Stock, par value $0.001 per share.

  • Preferred Stock Equivalents shall have the meaning set forth in Section 11(b) hereof.

  • Series H Preferred Stock means the Corporation's Series H Convertible Preferred Stock, par value $0.004 per share.

  • Company Series A Preferred Stock means the Series A Preferred Stock, par value $0.0001 per share, of the Company.

  • Series B Preferred Stock means shares of the Company’s Series B Preferred Stock, par value $0.0001 per share.

  • Senior Preferred Stock means the Series A Preferred Stock and the Series B Preferred Stock.

  • Series A-1 Preferred Stock means shares of the Company’s Series A-1 Preferred Stock, par value $0.0001 per share.

  • Series G Preferred Stock means the Corporation's Series G Convertible Preferred Stock, par value $0.004 per share.

  • Series A Preferred means the Series A Convertible Preferred Stock of the Company, par value $0.01 per share.

  • Series B-1 Preferred Shares means the Company’s series B-1 preferred shares, par value US$0.00001 per share.

  • Junior Preferred Stock means ML & Co.'s Series A Junior Preferred Stock, par value $1.00 per share.

  • Company Series C Preferred Stock means the Series C Preferred Stock, par value $0.001 per share, of the Company.

  • Series A Preferred Shares means the Series A Preferred Shares of the Company, par value US$0.0001 per share, with the rights and privileges as set forth in the Memorandum and Articles.

  • Series B Stock means the Company's Series B Convertible Preferred Stock, par value $0.000001 per share.

  • Series A-2 Preferred Stock means shares of the Company’s Series A-2 Preferred Stock, par value $0.0001 per share.

  • Series B Convertible Preferred Stock means the Series B Convertible Preferred Stock, $.01 par value, of the Corporation.

  • Series C Preferred Shares means the Company’s series C preferred shares, par value US$0.00001 per share.

  • New Preferred Stock means the Convertible Series A Preferred Stock and the Series B Preferred Stock.