Examples of Preferred Stock Exchange Agreement in a sentence
In accordance with the Series B Preferred Stock Exchange Agreement, prior to the Recapitalization, SEACOR will transfer a portion of our Series B preferred stock that it holds to us in partial satisfaction for the benefit that SEACOR (and other SEACOR U.S. federal consolidated group members) received by applying U.S. federal net operating tax losses generated by us in 2012 against SEACOR group taxable income, currently estimated at approximately $50.0 million.
We will enter into the Series B Preferred Stock Exchange Agreement with SEACOR prior to the Series B Exchange.
Pursuant to the Preferred Stock Exchange Agreement, the Company has amended its Plan to provide for a new mandatory conversion date and certain additional terms and conditions with respect to the Series E Preferred Stock.
Prior to or at the Closing, holders of the Company’s Series C Convertible Preferred Stock, as more fully set forth in Schedule 4.2(u), shall have exchanged such shares of Series C Convertible Preferred Stock for Preferred Shares, pursuant to the terms and conditions set forth in the Series C Convertible Preferred Stock Exchange Agreement, a form of which is attached hereto as Exhibit J.
The provisions of this Subsection 8(a) and Subsection 8(d) below, apply to all common shares received by any Note Holder pursuant to a Note Conversion Agreement, a Preferred Stock Exchange Agreement, or a Warrant Exercise Agreement and shares of common stock into which Series J Preferred Stock is converted, which shares of Series J Preferred Stock are received pursuant to the same agreements.
Prior to or at the Closing, holders of the Company’s Series B Convertible Preferred Stock, as more fully set forth in Schedule 4.2(t), shall have exchanged such shares of Series B Convertible Preferred Stock for Preferred Shares, pursuant to the terms and conditions set forth in the Series B Convertible Preferred Stock Exchange Agreement, a form of which is attached hereto as Exhibit I.
The Note Holder’s “New Stock” is the common stock received pursuant to this Agreement, any Preferred Stock Exchange Agreement and any Warrant Exercise Agreement of even date herewith, together with the number of common shares into which the Note Holder’s Series J Preferred Stock received by virtue of the same agreements, is convertible.
In September 2005, the Parties entered into a Series J 5% Convertible Preferred Stock Exchange Agreement, whereunder Southridge obtained 1,452 shares of the Company’s Series J 5% Convertible Preferred Stock (the “Series J Preferred”).
EXCHANGE OF SERIES C PREFERRED STOCK FOR SERIES E PREFERRED STOCK On February 22, 2000, CRIIMI MAE and the holder of its Series C Preferred Stock entered into a Preferred Stock Exchange Agreement pursuant to which 103,000 shares of Series C Preferred Stock were exchanged for 103,000 shares of a new series of preferred stock designated as Series E Preferred Stock.
This Preferred Stock Exchange Agreement is hereby accepted upon the terms and conditions set forth above.